Buying a Home

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What Does the 45 Days Mean on the Short Sale Addendum?

rchasing a home under normal circumstances can be a complex process. The transaction, however, can become much more complicated when distressed properties are involved. A short sale transaction requires a short sale addendum, wherein the term “45 days” can be ...

The Advantages of the Mortgage Tax Deduction for the Average American Family

st Americans consider owning a home to be a key component of the American dream. Home ownership, along with the associated increase in equity in that home, helps families build net worth. However, the down payment and mortgage payments that fund the dream can put a strain on the ...

What If the Appraisal Is Low on a Short Sale?

ort-sale deals have several hoops a buyer and seller must jump through to make the deal happen. The usually drawn-out process involves two important appraisals: one for the lender of the existing loan and another for the buyer's lender. A low appraisal in both of these instances ...

The Average Monthly Cost of Owning a Home

matter how many times you've purchased a new home, calculating the costs of home ownership is tricky business. Although many monthly expenses won't break the budget, they can create stress and direct your cash flow away from more lucrative projects, and their cumulative effect ...

How to Get a Bond Loan

nd loans -- or mortgage revenue bonds -- are issued by states to subsidize mortgages for qualified buyers -- usually low- and middle-income people buying their first home or their first home after a hiatus of many years. To qualify for these below-market-rate loans, you must ...

How to Break a Real Estate Sales Contract

w people sign real estate sale contracts with the intention of breaking them. Nevertheless, there are times when a buyer feels that the benefits of terminating the agreement outweigh the risks. The buyer has a number of legal options for canceling the agreement. Knowing your ...

How to Buy a Home Through Short Sale

short sale takes place when the sales price of the home is less than what is owed on the mortgage. Once it's sold, the bank agrees to forgive the balance due on the loan. The owner must have a hardship such as a job loss, a divorce or some other financial problem that forces the ...

How to Buy a Short Sale Through a Credit Union

en a homeowner owes more on their home loan than the property is worth, he may ask his lender for a short sale. This lets him sell the home with the lender forgiving the balance on the mortgage. The lender will only allow this if the borrower is unable to make his payments as ...

Do I Have to Buy Title Insurance Before Closing if Paying Cash?

tle insurance, a primarily American product, provides indemnity to lenders and homeowners against defects or issues with the title of a property. When you purchase a property by securing a mortgage, your lender will require you to purchase a policy of title insurance to protect ...

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