Business Builder Plan Blog

We were supposed to close on our house today. We have been excited about it for the last 45 days while we waited to close. Alas, it has fallen through. And the reason will probably surprise you.

Our mortgage lender sent our paperwork through underwriting. We started getting worried on Monday when they were having issues, since our closing date was that Friday. As we drew closer to the end of the week, more and more problems appeared, until we finally came to one that proved insurmountable – a lack of guarantee.

Many people think that the cheapest mortgage is the best mortgage, but the reality is that the right mortgage is the best mortgage. Getting the cheapest thirty year fixed rate loan is going to cost you a lot more money if a thirty year fixed rate loan is not the right loan for you. Shopping for the cheapest mortgage has exposed many potential home owners to predatory lending practices. What exactly is predatory lending? Predatory lending is a practice where lenders try to fool you or even bully you into taking out a loan that’s really unaffordable or not in your best interest.

There sure is a lot of doom and gloom in the media about the pending mortgage market. In the next 18 months there will be 5 million adjustable rate mortgages slated to reset to higher rates according to Lehman Brothers. Lender guidelines have tightened up in the past 6 months. It is not as easy to get a mortgage today as it was when you took out your adjustable rate mortgage. And on top of that, rates are higher now.

What I have not seen in the media, are ideas to help the consumer.

If you’re thinking about refinancing this holiday season but aren’t sure if this is the best time of year for a new mortgage loan, there are a number of things you should consider. While the holidays tend to be a slow time for lenders, there are many good deals to be found for the savvy comparison shopper. Here are several tips to help you decide if mortgage refinancing is right for you during holiday season.

Common Reasons For Refinancing Your Mortgage

Many homeowners refinance their mortgages during the holidays to borrow cash against the equity in their homes. While this may not be the best use for home equity, it is your money and you can use it any way you see fit. Other common reasons include consolidating other high interest debt such as credit cards or lowering your monthly payment amount.

What is a home inspection:

A home inspection is a comprehensive and objective visual examination of the condition of a house, its overall physical structure, major systems and components, from the roof to the foundation. The standard home inspector’s report will cover the heating system, central air conditioning system, interior plumbing and electrical systems, the roof, attic, visible insulation, walls, ceilings, floors, windows and doors, the foundation, basement and visible structure.

Before you buy a home, sell a home or do a renovation on a home, you should seriously consider hiring a certified home inspector. A home inspector can provide you with important information you need to know about the condition of the house. More information means an informed decision which means fewer surprises. You may save from unexpected costs.

Losing your home to foreclosure can be devastating for many. Although I may hurt sometimes it is a way to gain a new perspective on life and start over. You can avoid mortgage foreclosure, but is it best for you? This article will look at some ways to avoid foreclosure and some reasons why you my want to welcome it too.

Mortgage foreclosure is no laughing matter. Yes, mortgage foreclosures are a common occurrence everyday to thousands of people all across this fine nation. A nation that is built on pride and accomplishment can be whisked away in an instant. Sometimes the walls cave in and you simply have no other choice but to face the music of losing your home.

Te Good News

Do you really need title insurance? Is it a necessity or an added to cost when buying or selling a home? You may not think much about it, but carrying title insurance has its benefits, not just to the homeowner, but to everyone involved in the sale and purchase of a home.

To the Purchaser of Real Estate: The purchaser of real estate needs protection against serious financial loss due to a defect in the title to the property purchased. For a single, one-time premium, which is a modest amount in relationship to the value of the property, a buyer can receive the protection of a title insurance policy – a policy that is backed by the reserves and solvency of the Company. A title insurance policy will cover both claims arising out of title problems that could have been discovered in the public records, and those so-called “non-record” defects that could not be discovered in the record, even with the most complete search.

If you are looking for a great home, profitable job opportunities, utility companies, amazing clubs and resorts or fantastic real estate to invest in, then Tulsa, Oklahoma may be the place for you. The city of Tulsa, located in the heart of Green Country in North Eastern Oklahoma, boasts of a growing economy, beautiful scenic destinations, refreshing recreational locations and a rich cultural heritage. The city’s historic past, booming present and progressive atmosphere is an indicator of its bright future. So, if you are looking for a new place to call back home, Tulsa gives you a multitude of options found nowhere else.