Real Estate
The Top 10 Reasons To Not Buy A Home In Michigan Until 2010
1. First off, I really do not think anybody should be buying a home for any reason until 2010. There is nothing stopping home values dropping around the country. What needs to happen first is we need to have a leveling out period.
2. Home prices are expected to drop in the greater Detroit, MI area [...]
The Top 10 Reasons Why You Should Give Up Trying To Refinance Your Mortgage If The Appraisal Comes In Low
1. Let’s say that you are trying to refinance your mortgage. It does not matter if it is because you are trying to refinance from a adjustable rate mortgage to a 30 year fixed rate mortgage or if you are just looking to take cash out of the equity of your home. Every single mortgage company [...]
The Top 10 Reasons Realtors Do Not Like FHA Loans
1. The FHA loan has became popular once again over the past 6 months mainly due to it being one of the only 100% financing loans able to use to buy a home. With all of the major mortgage companies going bankrupt around the country they all lost their ability to use their own loans. [...]
The Top 10 Reasons Why Property Taxes Are Not Calculated Correctly And Need To Change
1. Right now around the country your home is taxed based on a percentage of what the value or home is worth based on what the county assessor thinks it is worth. As an example lets say your local county government has a property tax of 1% and your home was assessed at $300k. You would pay [...]
The Top 10 Reasons Mortgage Companies Stopped Doing Second Mortgages
1. Mortgage companies starting around November 2007 stopped doing fixed second mortgages and home equity lines of credit (HELOC) due to changes going on in the mortgage industry. A lot of swift and sudden changes came to the type of companies that were farthest away from the actual money like the mortgage brokers, correspondent lenders, then [...]
The Top 10 Reasons You Need To Pick The Right Second Mortgage
1. For those of you that do not know what a second mortgage is, it is a lien (loan) against a certain percentage of the equity of the home. What the mortgage company does is recognizes that you have a first mortgage on your home and they take the balance of that loan, get an [...]
The Top 10 Reasons You Should Get A 30 Year Fixed Rate Mortgage Over A 15 Year Fixed Rate Mortgage
1. Most people when looking for a new home loan will always say that they want to be able to pay the home off as fast as they can. If they wanted to be able to pay the home off as fast as they could then why didn’t they save up a 50% down payment [...]
The Top 10 Reasons No Closing Costs Mortgages Are A Myth
1. Just about every person in the world likes to get something for nothing. I’m reminded of this old saying that one wise man once said to me and that it was “there’s no such thing as a free lunch.” That wise man was my dad. So why would anybody think that they are going [...]
The Top 10 Reasons Your Mortgage Broker Is In Foreclosure
1. The housing boom is turning out to be quite a bust right now. There were a lot of people that got rich very fast and now there are some people that are in the poor house. What is interesting is that you would never think that the person who probably did three refinance loans [...]
The Top 10 Reasons Why Foreclosure Is Not A Bad Idea
1. First off I want to say that I am not promoting going into foreclosure but let me tell you something about when it makes sense to do it. Foreclosure is now a word that every American now knows. Ten years ago you might hear that word occasionally or maybe when a business was going bankrupt, but [...]
