5 Things You Must Know Before You Get A Reverse Mortgage!

October 22, 2010 By Leave a Comment
free-money

In early 2000 I started hearing stories about this great loan program that allows you to borrow your homes equity without ever having to pay back the money you borrowed. Sounds too good to be true… yep it didn’t pass my smell test either. The program is called a Reverse Mortgage and lenders are lining up spokesmen by the dozen to sell it. Before you run out and start calling your a lender for one of these loans here are 5 things you should consider first: 1. Compound Interest: Have you … [Read more...]

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Why Buy Title Insurance When Buying Your Next Home

October 7, 2010 By 2 Comments
Questions-4Web

Did you buy your last home without Title Insurance? Many homeowners think to themselves, “great another junk fee” when faced with the line item for Title Insurance at closing. After all, Title insurance can sometimes add several hundred or even thousand dollars to the bottom-line of a settlement. My clients almost without exception ask me at closing if they should buy this sometimes expense policy. After all, what are the chances that an American Indian tribe, or a long lost relative, or … [Read more...]

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FHA Refinance of Borrowers in Negative Equity Positions

August 17, 2010 By Leave a Comment
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Here it is at last, your chance to refinance your underwater mortgage. The long-awaited FHA rules that will allow homeowners that are underwater to refinance their homes. If your house is underwater and your interest rate is above 6 percent, you should definitely consider this refinance opportunity when it becomes available. Even if you have a good interest rate, the write-down of your first and/or second mortgage may make this deal worth considering. You must be current on your mortgage … [Read more...]

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2010 Mid–Year Housing Report for the Northern Va DC Metro Area

July 29, 2010 By Leave a Comment
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The latest 2010 Mid Year housing report from MRIS paints a very rosy outlook for the DC metro and Northern Va real estate markets. Here are a few of the highlights from this quarters housing report: Inventory—The number of units for sale (single family, townhouses, and condos) continue to be very low. Currently the Washington DC area has less then 5 months worth of units. In some areas like Loudoun County, Fairfax County, and Falls Church have less then 4.5% months of inventory. Six months … [Read more...]

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How to Buy a Foreclosure or Short Sale in Fairfax and Loudoun County

July 21, 2010 By 1 Comment
foreclosures

Research- This begins way before there is a sign on the lawn. In most cases savvy investors begin prospecting for foreclosures and short sales in the public announcements section of their local paper. Do a drive by of any houses that are in default. See if the property is vacant as well as the condition of the outside. ***Hint here** If it looks rough on the outside you can beat it’s going to be rough on the inside. Go to the courthouse steps and see if the bank had to buy back the mortgage … [Read more...]

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