Who Can Benefit From A Reverse Mortgage

Reverse mortgages are becoming an increasingly popular lending option for older Americans. Reverse mortgages allow homeowners over the age of 62, the ability to convert a portion of their home’s equity into cash, which they can receive in monthly installments or through a line of credit. This short article will provide a brief overview of…
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Choosing The Right Mortgage

Mortgage Loan In the past decades, it was believed that a mortgage loan is a mortgage loan no matter what the terms were. But this theory is not true because there are many mortgage loan products available in the market. So, before choosing a mortgage, it is very important to decide which one is right…
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5 Major Reasons Why You Should Buy A Home Instead Of Rent

There are times when it is better for a person to rent, but most often homeownership has many more benefits and advantages. About 10 years ago I had a retired aunt and uncle rent a condo in Las Vegas. Uncle Jim was a retired consultant. Throughout his career, he and his wife lived in corporate…
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Dos & Don’ts For Home Staging

DO: Kick the clutter Set a goal of eliminating half the items in every room, starting with personal effects like photos and clothing. You want prospective buyers to envision themselves in the home — not you and all your stuff. Clean, clean, clean Scuffed hardwood, grimy tile and grungy windows will create a bad impression,…
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Protect Your Family From Carbon Monoxide

PROTECTING YOUR FAMILY FROM CARBON MONOXIDE SOUND THE ALARM Install a carbon monoxide on each floor of your home. If you only have one detector, keep it close to the sleeping area so it will be heard if the alarm goes off. Do not place detectors near flames. If the alarm does go off, get everyone…
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FHA Property Standards

FHA Property Qualification Standards If you’re ready to buy a home but don’t have enough saved for a traditional 20% down payment, consider a Federal Housing Administration (FHA)-insured mortgage. An FHA-insured mortgage allows for down payments as low as 3.5% of the purchase price! However, the FHA has minimum property condition standards a property needs…
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Homeowners Insurance

Homeowner’s insurance— know what’s covered (and what isn’t) Typically covered • Disasters: Hurricanes, windstorms, tornadoes and lightning strikes are typically covered. So are man-made disasters resulting from riots or civil unrest. • Fire: Losses resulting from house fires, wildfires and water or sprinkler damage from firefighting are covered by standard policies. • Property: Loss of…
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What Is A 1031 Transaction?

What is a §1031 transaction? A: An owner of real estate used in their trade or business or held for investment is not taxed on the profit they realize from the sale of the property when they purchase like-kind replacement property in an Internal Revenue Code (IRC) §1031 reinvestment plan, also called a §1031 transaction…
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Lead Based Paint

What do I need to know about the lead-based paint disclosure? A: In 1978, lead-based paint (LBP) was banned from use by the federal Consumer Product Safety Commission. An LBP hazard is any condition that causes human exposure to lead from lead-contaminated dust, soil or paint which has deteriorated to the point of producing adverse…
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Special Assessments

What are special assessments and Mello-Roos bond payments? A: A special assessment lien is placed on real estate to repay bonds that financed the construction of public improvements benefitting property within an improvement district. These public improvements include sewers, streets, sidewalks and streetlights. The special assessment charge shows up on the annual tax bill and…
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