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  • Can you roll a previous debt into a new home mortgage loan, and if you can does it rise your intrest rate???
  • Why is the home equity loan rate going up while mortgage rate is going down?
  • Liquid Equity G? a word that fits LEG as in “His home loan was a ARM (Adustable rate Mortgage) and a LEG”
  • IS a home Equity loan rate lower or higher then a mortgage rate?
  • Real Estate Foreclosure Paralegal Practice and Procedure

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  • Investing Foreclosures

Home Buyer’s Checklist: Everything You Need to Know–but Forget to Ask–Before You Buy a Home

Home Buyer’s Checklist: Everything You Need to Know–but Forget to Ask–Before You Buy a Home is a step-by-step, guide that shows you exactly how to “precheck” a house before you make an offer. It is a list of things you will need to know/ask before buying a house. It is also useful for first time buyers who have never bought a house before and do not want to be caught in a bad situation.

Tags: real estate investor, real estate investing, real estate, real estate marketing, realtor

Written by Mike Taylor in June 18th, 2008 

10 Minute Guide to Buying and Selling Your Home (10 Minute Guides)

10 Minute Guide to Buying and Selling Your Home (10 Minute Guides) is an outdated book, but still very informative.  If you need some general quick home buying and selling advice, this book might be what you need.

Tags: realtor, real estate investing, real estate, real estate investor, real estate marketing

Written by Mike Taylor in June 11th, 2008 

Avoiding Problems with Home Owners Associations

The purpose of a home owners association is to keep up and manage the neighborhood including public parks, roads, and pools. If you live in a community with a homeowners association, you are obligated to pay dues – which can be anything from $100 to $10,000 a year, depending on the neighborhood and its amenities.

Homeowners are also obligated to live by the association’s rule book, also known as covenants, conditions and restrictions (CC&Rs). An elected, volunteer board of directors is responsible for enforcing these rules.

The regulations vary widely but typically cover such things as the color of your house, the kinds of trees you may plant, where you can park your car and whether you can rent out your home.

In some neighborhoods, homeowners have faced fines for such offenses as flying the American flag, decorating for unapproved holidays or putting the wrong color curtains in their windows.

Homeowners associations even have the right to foreclose on those who fail to pay their association dues.

According to a study by Sentinel Fair House, a fair housing group in California, associations were responsible for 18 percent of all foreclosure actions in five counties they studied over a 12-month period. All told, associations foreclosed on about 70 houses in five counties for amounts of less than $2,500 – including legal fees.

Before you purchase a house, spend some time researching the home owners association. Learn about their rules, conditions, and restrictions. Finally, learn if there has been any complaints filed against the home owners association.

Tags: real estate investing, real estate investor, real estate, realtor, real estate marketing

Written by Mike Taylor in June 4th, 2008 

7 Important Questions to Ask Before You Buy A Condo

Condos are ideal for retired couples because of their ideal space and low maintenance costs. But before you buy a condo, remember that there are important questions you should be asking before you sign on the dotted line.

1. What complaints has there been against the unit?
Review the minutes of the condos association board meetings and see what the current (or previous) owners have complained about. This lets you know if the complex is having issues that you should be aware of.

If there hasn’t been any issues raised, you should still review the minutes of the condo’s board meetings to see what kind of projects have been underway at the complex.

2. What are the delinquency rates of the present owners?
Owners taren’t paying their association dues on time? This could be a sign that there is discontent or that the association is underfunded.

3. How much is the repair reserve fund?
Residents who brag that they don’t pay much in maintenance may be in a complex that either is not being kept up well or is living beyond its means.

Ask if the community has done a reserve-fund review in the past five years. Here’s a good rule of thumb: If the complex is one to 10 years old, the reserve fund should have 10% of the cost of replaceable items (roofs, roads, tennis courts, etc.). Between 10 and 20 years old, the repair fund should be at 25% to 30%. At 20 years, that amount should be 50% or above.

4. Can I take get a copy of the certificate of insurance?
Get a copy of the certificate of insurance, which is a summary of the association’s policy. This will ensure that you understand exactly what the association policy covers and what you are responsible for. This way you can insure your personal belongings, along with any other items within the unit that are not covered by the association’s policy.

5. Are there any legal issues to be aware of?
Find a local real estate lawyer and have him or her go over the bylaws of the condo association and find out if they make sense and are consistent with your state’s laws.

You should also have the lawyer screen the association at the local courthouse, to see if any owners have filed suit against it.

7. Am I responsible for my Unit’s upkeep?
Many people buy condos because of the low maintenance fees. But you should watch out for a condo whose owners manage the place themselves.

If the complex is professionally managed, check out the management company as thoroughly as you check out the association. Ask other owners. Ask people in nearby buildings. And be sure to interview the day-to-day manager directly.

Tags: real estate investing, real estate investor, real estate, real estate marketing, realtor

Written by Mike Taylor in May 30th, 2008 

How to Buy a House in California

Buy a House in california How to Buy a House in California is the most complete guide to buying a home in the Golden State.

This is a thorough and practical guide to every aspect of buying a house in the California. How to Buy a House in California will help you make informed decisions that can save you thousands of dollars. Continue reading →

Tags: realtor, real estate investing, real estate, real estate marketing, real estate investor

Written by EdgarA in May 12th, 2008 
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