Phoenix Arizona Waterfront Homes
The best blog for waterfront and lakefront homes and communities for the Phoenix Arizona area
The Maricopa county recorder recently rolled out a tool to help homeowners avoid title fraud. It has been on the rise and can be financially devasting to a homeowner. This title fraud alert tool notifies homeowners when a document is being recorded that has their name or the name of the business or trust. Instead of finding out months or years after the illegal act property owners can be notified almost immediately.
Critical questions for the lenderOnce you’ve uploaded and sent all the documents that your lender has asked for, it’s your turn to ask the questions. How do you know the lender or loan officer has chosen the best loan program for you? Have they shared the closing costs that you’ll need in addition to the down payment? You need to make sure the lender explains some key issues when it comes to getting prequalified. Continue reading to learn more about the important topics you need to be discussing with your lender.
What is Home Equity Theft?Home Equity Theft is a phrase that is used when governments and investors use tax liens and tax deeds to legally take a homeowner’s property and their equity. This has been become common practive in many states. It is finally getting the attention it deserves now that the case Tyler vs. Hennepin County is in front of the U.S. Supreme Court.
A brand new home can be so appealing in many ways. You can choose your flooring, cabinets, type of counter tops and numerous upgrades. Not to mention all the appliances are and mechanical systems are new. So what if anything could go wrong with purchasing a new build home? Well, let’s consider 9 tips to help you when buying a new build home from a builder to make it a smooth experience.
A community facility district is often referred to as a CFD. You may not always be aware that a house is located in a CFD. So what are the drawbacks or advantages and how do you determine if a house is in a subdivision with a community facility district? Are there any tell tale signs that can help you know?
Can Sellers Contribute Toward Buyer Closing Costs?Does the Arizona Association of Realtors contract allow for sellers to contribute toward buyer closings costs? What about assisting with the down payment? These are questions that come up in the course of a transaction. And in what type are market are they more common? Keep reading to understand what seller concessions are.
Getting prequalified before looking for a home and especially prior to submitting an offer is mandatory. What can be done to prepare a prospective buyer before getting prequalified? The answer is to become credit worthy. How does your credit score influence your prequalification? Understanding how credit bureaus measure your credit worthiness is a good place to start. Continue reading “Prequalification and Your Credit Score”
Eliminating MIP on a FHA LoanWhen you review your mortgage statement every month you are reminded of something called mortgage insurance. For a FHA loan it is called MIP, Mortgage Insurance Premium. Removing MIP on a FHA loan is a different animal than removing it from a conventional loan. Market appreciation does not enter into the equation at all. To see what option are available, continue reading.
You’ve closed, now what?It all started with searching the internet for that dream house, then getting prequalified and uploading bank accounts, tax returns and more. This was followed by viewing properties day after day, then submitting an offer, probably multiple offers to get the house you want. Not that you endured that process, you finally got the keys and it’s time to schedule the long awaited move-in. If you’re wondering if that’s the end of the road read on. There are a few more things to do after closing.
Waiving The Appraisal to Compete with Cash OffersIn this seller favored market, buyers requiring a loan are looking for ways to compete with cash offers which have two distinct advantages. One is there is no unfulfilled loan contingency and the second is there is nno appraisal contingency. In an attempt to remove concerns over the appraisal coming in under the purchase price, buyers are using an appraisal contingency waiver. This means the buyer will make up any shortfall between the purchase price and the appraisal value which has some significant risks. To learn more, keep reading.
Continue reading “Appraisal Contingency Waiver-Good idea or not?”