Recent Questions / Latest mortgage and renting questions

What is transfer value?

Transfer value refers to a property’s purchase price the last time it was sold. It’s a term often used in foreclosed properties or those in pre-foreclosure. For foreclosed properties owned ...
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Buying a short sale home

Purchasing a short sale home isn’t the same as buying a foreclosed property, since the owner is actually selling the home to avoid foreclosure. It takes longer than a conventional ...
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What to do if my mortgage application was denied?

While a denial of your mortgage application is disappointing, it’s not the end of the world. Find out why the application was denied and fix those issues. The lender must ...
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First-Time Home Buyer / Information that first-time home buyers need to know

3 ways to buy a house with bad credit

Back before the housing crash of 2008, people with bad credit could easily get a mortgage. The problem was that many people were buying overpriced homes that they really couldn't ...
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Home Depot vs. Lowe’s: What’s The Difference?

Home Depot and Lowe's are both very similar in terms of product selection. However, you may find slight a difference in terms of brands and available inventory between the two ...
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Why would someone choose a 15 year mortgage over a 30 year mortgage?

If you can afford it, choosing a 15 year mortgage over a 30 year mortgage means you pay considerably less in interest and pay off your mortgage in half the ...
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Buying Process / Process of buying a house and mortgage terms

Can I negotiate closing costs?

You can negotiate closing costs, but you can't avoid them completely. And some closing costs are negotiable, and some are not. You can negotiate the attorney fees, messenger fees, commissions, ...
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What is an open house?

An open house is a time when home buyers can view a home for sale that is on the market. This is not a private tour—it's a pre-scheduled gathering where ...
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Difference between a realtor and real estate agent?

If you do a Google search for the phrase, "What is a realtor?," then you will likely first see Google's handy definition box that explains a realtor as "a person ...
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Selling / Related to selling your home

What is a mortgage short sale?

A mortgage short sale occurs when the homeowner sells the dwelling for less than the remaining mortgage balance. It’s also known as a pre-foreclosure sale and it’s a foreclosure alternative ...
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Do I have to inform the mortgage lender if I want to sell my home?

You don’t have to tell your mortgage provider that you plan to sell, but you do have to settle your outstanding loan when the home is sold. You might want ...
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Buying a short sale home

Purchasing a short sale home isn’t the same as buying a foreclosed property, since the owner is actually selling the home to avoid foreclosure. It takes longer than a conventional ...
Read More
Renting / Roommates, managing rentals, and understand rental terms

What is a lease-purchase agreement?

A lease-purchase agreement is one a homeowner sets up with a renter who wants to buy the property at a later date, possibly when they are in a better financial ...
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How to prepare to rent out a room for extra income?

You should first prepare your house by putting locks on all bedroom doors, keeping your valuables in a safe, and fixing pesky appliances. Then, look at Craigslist or other ads ...
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How can I kick-out my roommate?

Tenant law varies from state to state and city to city. Assuming your roommate is not on the lease, your best option is simply to ask him to leave. If ...
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Refinancing / Related to refinancing a mortgage

How can I refinance my home?

When you refinance, you want to trade in your current mortgage for a cheaper one. The first thing to do is make sure you qualify for refinancing. You should also ...
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Can I refinance my current FHA loan to a conventional after one year?

It's possible for you to refinance your FHA loan to a conventional loan after one year, but just because you can do so doesn't necessarily mean that you should. First ...
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What is the HARP program?

The federal Home Affordable Refinance Program was established in 2009 to help homeowners with “underwater” mortgages – a mortgage balance higher than the property’s value. It is designed to help ...
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Home Depot vs. Lowe’s: What’s The Difference?

Home Depot and Lowe's are both very similar in terms of product selection. However, you may find slight a difference in terms of brands and available inventory between the two ...
Read More

How much of my gross income should go to my mortgage payment?

Banks generally like to see no more than 28% of your gross income going toward your mortgage payment. This includes not just the mortgage payment, but also the interest on ...
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Should I switch jobs if I want to buy a home?

Most mortgage lenders require you to have a steady job for two years before they’ll approve you for a loan. They’ll ask you for proof of income, which they use ...
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