Investment property
September always means Back To School, and for thousands of families it
The results of the National Association of REALTORS® (NAR) recent bi-annual housing survey supports what the multi-family housing industry has already known for a long time - that given the opportunity, many renters would rather own their own homes than rent. Not only do multi-family properties compete for tenants with other apartment developments, they also compete with the lure of homeownership.
Technology has helped create a global marketplace and with it, increased competition from around the world. Builders and developers operating globally and seeking a competitive edge are turning to advanced aerial imagery to engage real estate consumers with visual elements to easily discover, search, explore, share and visualize business location data and locally relevant information. One such technology, Microsoft Virtual Earth, is a set of powerful, integrated online mapping and search services builders and developers are integrating with a website to offer a superior property-search tool.
On Christmas Eve, December 24, 2009, the Senate by a 60 to 39 vote approved the Patient Protection And Affordable Coverage Act (H.R. 3590). A large bill, as most have undoubtedly heard, was made a bit larger as language requiring small construction firms with more than five workers provide health care coverage or face stiff fines was, according to the National Association of Home Builders, "slipped into the Senate health care legislation at the last minute." That language, more commonly known as the Merkley amendment, requires that employers in the construction industry with over $250,000 in payroll or more than five workers provide health insurance for their employees or pay a penalty.
An influential committee leader in the House of Representatives is planning a post-summer surprise for millions of Americans whose houses contain 3,000 square feet or more of interior space: A proposal to take away their mortgage interest deductions.
Solar energy has been making big waves over the last few years. As energy costs rise and consumer awareness heightens over environmental issues, many homeowners are making alternative energy choices -- from buying hybrid cars to installing home wind generators.
At $2.55 million -- not counting $300,000 in furnishings -- this year"s New American Home is not exactly mainstream. But affordability has never been the purpose of this annual homage to many of the country"s top building products manufactures.
A series of focus groups across Canada has told builders what they don"t want to know -- their public image could use some work.
When a new home comes on the market, it is another sign of how the real estate industry drives the economy. A house, unlike any other large purchase product, is a culmination of hundreds of products and services in one purchase, which explains partly why houses cost so much.
A growing number of aging baby boomers may be moving to revitalized downtown areas, but most active-adult developments are still being built in the suburbs.
Whenever I travel to England and Ireland, I"m always fascinated by the names people give to their houses, and even more by the fact that they name them at all.
The cost components of a typical house haven"t changed much over the years -- the finished lot accounts for 20-25 percent of the price; labor and materials, roughly 50 percent, and the rest in financing and "other"costs such as overhead, sales and profit. But within each category, things have changed quite a bit.
A sentiment on the wall of a friend"s kitchen sums up the importance of this part of the house to the typical consumer:
I recently fielded a series of questions from a single woman who was going to settle on a house the following day. The questions took me a bit by surprise because they weren"t the kind I"d expect of any well-educated person less than 24-hours away from making the biggest purchase of her life so far.
In a finding that could have a profound impact on the future of homes and communities designed for the growing legion of seniors, nearly half of all adults expect to continue working as they move into their retirement years, according to new research from the nation"s leading developer of active adult communities.
It wasn’t long ago when the American Dream was envisioned as two people deciding to share a life together, a plan for 2.4 children, some hard-earned savings, the perfunctory two weeks of vacation each year, and last, but certainly not least, a home to call their own. That first home, of course, was usually of the “starter” variety – unadorned, but with plenty of potential for improvement and personalization in the years to come and as the incomes grow.
Effective immediately, the Federal Housing Administration will no longer require approval of an entire planned unit development as a precondition for insuring mortgages on houses in that particular project.
According to industry experts, the formal living room is becoming a thing of the past as new-home buyers, always seeking more living space, are sacrificing it for additional square footage in the kitchen and family room.
A large percentage of new-home purchases are made through referrals by happy buyers.
If you"ve been shopping for a new home, or simply enjoy looking at model homes in and around your community, then you may be impressed with modern
The energy crises may have subsided, but home owners remain willing to pay extra for homes with renewable energy systems.
Few builders these days do not have Web sites. Many sites are increasingly sophisticated, with virtual tours and ways to let potential buyers design their dream houses with several clicks of a mouse.
I recently told you about the legislative and judicial disdain for SLAPP (strategic litigation against public participation) suits -- suits brought by developers against development foes. The land use process is intended to be democratic, and interested persons have a right to express legitimate concerns relating to proposed development. Suits filed to chill citizen group participation are very disfavored. As I stated, that is a good thing for all of us.
People used to dream of living in a home fit for a king. Today, buyers are increasingly looking for homes fit for a kid. Though parents still have the final word on what new home they buy, children can have an impact on that decision.
The cool, sleek look of stainless steel remains a hot item for today"s kitchens.
Constantine Pergantis has been in the outdoor lighting business for over 15 years. He says when he got started, there were about three companies making low-voltage outdoor lighting. Today, he jokes, "I basically lost count after about 50."
It stands to reason that if a builder wants to build a reputation on quality,
Picture yourself as a small production homebuilder, who builds, say, only about 200 or fewer homes per year. Even though you’re small in comparison to other builders, people flock to your grand openings. You also like to participate in sponsoring a few charitable events every year that help the local community, and your name has become a household word in the areas you build because of the legacy you have spent years to establish.
With reverence and awe, we admire the forest primeval, with its towering boughs of green and massive columns reaching skyward. Beacons of sunlight
There is literally no end to the lengths modern man will go to in order to find new sources of energy. We have explored and use the atom, water, natural gas, the sun and the wind for this purpose. Using the earth"s heat is yet another way to tap nature"s power for our benefit. Geothermal energy is clean, reliable and renewable --- three of the most crucial elements in its favor - and is being funded by the U.S. Department of Energy as the next significant contributor to the energy mix in the West, at a time the region is experiencing power supply shortages.
What appears to be a bona fide "first" in virtual realty is a consumer Web site devoted to estimating the cost of building a new home or rebuilding your existing one.
It"s a mystery, sometimes, why some new homes looks as if they "belong" where they are, "fitting in" with their surroundings, and others seem to appear out of place and awkward. By the same token, some new home floor plan designs seem to "flow" in logical ways and others seem "chopped-up," confusing us as we tour them. Worse yet, do you sometimes feel, no matter how many builders" home you tour, they all end up seeming indistinguishable from one another? When you see new home communities whose homes seem better sited, designed and constructed, it may very well be that an architect was directly involved in their creation. The truth is, however, many homebuilders have dispensed with the services of architects except for custom revisions or site-specific changes that must be made to the cookie-cutter variety of production home designs.
Real estate investors looking for steady, relatively safe returns, and who are also interested in helping financially-squeezed homeowners remain in their properties, should check out the "seamless short sale" concept.
So you"ve finally decided on that new home, and you"re awaiting an answer
Any Baby Boomer who downed enough buttered popcorn would remember the scene
What do the words "custom made" bring to mind? Made to order? The notion of quality and craftsmanship? Or does it conjure up images of a unique product that stands alone?
How often have you owned something and after a while, some issue comes up
Risk-taking has to be one of the most unsettling aspects of offering any new
What do you want in new home? To build a home to suit? Move into a model? Whether you build or move into a "spec" home, you want the process to be as quick and easy as possible, and that is why hiring a Realtor will help you work with builders.
The salesperson may be an absolute gem. The model homes may look flawless.
It doesn"t have to be a shotgun wedding. Builders can admit at one point
When walking into a home, old or new, what surfaces do you see that give you
Something looks vaguely familiar. Is it the arrangement of the rooms as you
It"s all set. You are to meet at the model home sales office at 10 a.m. on
Advice always seems to be in great supply, doesn"t it? This free-wheeling commodity is at no cost to you and can be somewhat laced with heavy opinion, but is always available, especially where real estate is concerned. Some homebuyers in the throes of purchasing a newly constructed home may be ripe victims for unsolicited advice by well-meaning friends, relatives, or real estate agents with their own agendas. Buy from this builder; buy in that area; single stories are better investments; make sure you read about the builder"s warranty and find out about its reputation. Serious stuff worthy of note, but let"s face it; none of these individuals will be making your house payment for you . . .
As you may have noticed when shopping for a new home, builders strive to make
Toto, I Don"t Think We"re in Kansas Anymore . . .
So I"m standing there with a glass of Merlot in my hand making small talk at
Decisions, decisions, decisions! Never have we had so much choice in new home
The other shoe has finally dropped on the housing industry, as new home sales
Nobody has a crystal ball that can predict whether a new home community will
Okay, so you"ve finally decided to put your home on the market - after the
Buyers often wonder why buying a new home seems so much more complicated than
It"s new, but it"s not new. Then it"s used. Well, kind of. But it has expensive hardwood floors, gorgeous landscaping, cute decorations in the kids room and a fireplace in the master bedroom.
vehicle is clear cut: new cars have greater value, better warranties, and of course, that "new car smell".
A buyer"s market is technically defined as: "A market condition characterized by an abundance of goods available for sale."
When even the Case-Shiller index, which ranks as the gloomiest of all the measures of house price movements, starts reporting gains then you know something is stirring out there in real estate.
When I get a letter from those exploring a foreclosure purchase, it reiterates how many people look at foreclosure as a rags-to-riches proposition that will leave them with the golden egg-laying goose, but one that doesn"t require basic care of the goose -- food, shelter, protection from wolves, etc.
Buying a playhouse isn"t a game.
We had just taken off from the Portland airport, and I was getting comfortable in my seat. Well that"s if you call getting comfortable negotiating with your neighbor"s elbow.
The population of the U.S. nearly doubled from 1950 to 2000 but with that growth our water demands more than tripled, according to the Environmental Protection Agency. The government predicts that there will be water shortages in 36 states by the year 2013. That’s disappointing news to homeowners who love their green lawns and think that they add value to their homes. The good news is that a yard can still look attractive and yet use less water to maintain its beauty.
One of the most important aspects of the investment game is creating a positive cash flow from your rental properties. The basic principles apply: buy low/sell high; cover your monthly expenses with your monthly rental payments; go to the bank a happier, richer person.
Everyone"s looking for the next real estate rush -- the place where people will be able to buy at $100,000 and sell for $200,000 in six months. So I get emails about whether one town is a better place to buy over another. Is it time to buy or sell waterfront property? Is land the next boom market for real estate?
The potential for fraud, identity theft and other criminal attacks on your personal information is more than enough to keep you busy making certain your personal information is secure and accurate.
A Brookings Institute report pointed out McAllen, Texas as “the only major city in the country that saw growth in employment and output during the first quarter of 2009,” as reported in The Monitor, the Rio Grande Valley’s main newspaper and online news service.
Every so often I"ll receive an email from an assertive investor who has purchased a house and started running their own real estate investment business. Recently one such emailer received a letter from a county or city agency telling them to cease and desist their activity. The letter was directed to me for a sympathetic ear.
I spent nearly an hour on the phone with a gentleman the other night talking statistics and the real estate market in the Washington, D.C. area (one of the hottest markets in the nation). He"s trying to decide on buying a home in this area and whether he would be wise to wait and buy or buy and wait.
The grassroots movement of Americans opening their homes to those misplaced by Gulf Coast hurricanes last year was an unprecedented outpouring of generosity and support for those in time of great need.
It"s not just homebuyers who are being hit with the high cost of living in San Diego, California. Those in the rental market are struggling to keep up with rents.
Just about every Wall Street analyst and economist now predicts that 2006 will be a slower year on the real estate front, not much of an insight given that interest rates are increasing and wobbly loans with little down and negative amortization are being restricted.
Here"s a new twist on an old story: Home buyer agrees to use Home Builder"s mortgage company and the Builder agrees to "pay" for the title insurance policy. But that"s not the twist, that"s an everyday occurrence, is it not? Depending upon where you live and local customs for who pays what, title insurance can get a little pricey. In Texas for example, a title insurance policy on a $200,000 note might cost a couple of thousand dollars or so. So who wouldn"t use the Builder"s mortgage company?
Question: My friend and I are in the market to purchase a condominium apartment. I am a cautious (and nervous) first-time home buyer, and need all the help I can get. We will probably buy from an existing owner and not a new unit from a builder. We have many questions: Are there any lawsuits pending against the Association? Are the reserves adequate to pay for any emergency or long-range repairs or replacements? How can we guarantee that our condominium fee will not be increased dramatically in the years to come? In general, how can we best protect ourselves and our investment?
Early in the summer, I was talking with a veteran builder about the differences in selling houses when he started in the 1970s and now.
There are reams of easily accessible, free information to teach you how to protect your private, personal identifying information from identity theft. The information is available from independent, reliable sources you can trust -- consumer advocacy groups, government agencies, and social and community organizations -- but it"s up to you to obtain it and put it to use.
Fannie Mae"s and Freddie Mac"s controversial new appraisal rules are now coming direct attack by the biggest lobby on Capitol Hill - the National Association of Realtors.
Question: I signed a contract for the purchase of a single family house, and settlement is scheduled for this week. The seller"s broker has just advised me that they do not plan to sell us the house. No reasons have been given, but we suspect that the seller now believes that the contract sales price was too low. What should we do?
The acquisition last month of a leading on-line lead generator for realty agents and brokers by a consortium of six leading media companies was hailed last week at an industry conference as a signal of a new era in cooperation between once bitter rivals for the billions that are spent every year on real estate advertising.
I receive emails regularly from people wanting to find the diamond in the rough so they can walk away with tens of thousands of dollars in one transaction like all the people on the infomercials.
When it comes to saving money, it"s probably a good idea to do what your parents tell you to do, rather than what they do.
That whooshing sound your heard around the nation last Thursday wasn"t air coming out of the bubble, but a collective sign of relief from mortgage consumers after Freddie Mac announced rates had see-sawed back down last week.
Organization is a key element in preventing panic, particularly during times of crisis. This is because we think and behave from the rational parts of our brains. Once panic sets in, however, we no longer think rationally; rather our thoughts and actions come from the primal centers of the brain where survival overrides ration. If you have ever seen a mother protecting her young you will understand the power that primal instincts have over our behaviors. These instincts can lead to foolhardy decisions that may further endanger life. People have actually plunged to their death because they truly believed that they could survive a fall or the frigid waters of an ocean. This kind of irrational belief is a result of the fight/flight response system.
One of my distinct recollections from childhood -- all of the butterflies seen during summer. Despite my admiration for them -- the truth is that I didn"t pay that much attention to the many varieties of butterflies that visited my neighborhood.
After hearing about the government"s billion dollar corporate bailouts, Canadian property owners may be tempted to ignore tax credit and other government-backed financial programs because, in comparison, they seem to involve trivial amounts—C$750 here, C$1350 there.
A winter storm with hurricane force winds swelled the surf and blasted icy rain and snow across the Pacific Northwest late last week, causing at least three deaths before heading inland.
After Hurricane Katrina left much of the Gulf Coast in the dark last year, a dozen deaths and scores of carbon monoxide (CO) poisonings were blamed on portable gas-fired generators in the hands of those unfamiliar with their proper use.
With asphalt-melting temperatures zapping power transformers and turning out the lights in communities across the nation, a heat wave in the west spawned "Stage One" and "Stage Two" power alerts in California where utility officials sought voluntary reductions in energy use.
Question: I own an older house and have been asked by an organization to donate the facade of my house for historic preservation purposes. Is this still legal? What benefits do I gain by making this donation?
In the 6.7 Northridge, CA, earthquake in 1994, 55 percent of quake-related injuries were due, not to collapsing buildings, but because of falling and breaking objects -- televisions, pictures, mirrors and heavy light fixtures.
The business of renting out your real estate properties is often confused as simply being an aspect of the business of investing in real estate. But make no mistake, when you buy a property and rent it out you are now effectively running a business and in order to protect you and your asset you"d better know the law.
Parents and others who allow kids to play in a driveway have always foolishly overlooked a safety hazard that comes with the potential for injury or death. Now larger vehicles and quieter vehicle technology exacerbate the risk.
Commercial Properties
Communities everywhere are the target of proposed cell towers and cell antennas. The equation is simple, the more people who use cell phones, the more antennas that have to be erected.
For a very long time the nation has been divided by a fundamental question: What do we do about large houses?
There"s no doubt Canadians are spending millions on renovations, but are they investing in the right things? Is every renovation loonie generating the maximum increase in property value?
If there is anything "good" that has come of killer Hurricane"s Katrina and Rita, it"s that the massive storms have sent millions of home owners scurrying to determine if they have enough insurance coverage should a major catastrophe strike in their neck of the woods.
Julie Ziemelis, a Silicon Valley real estate industry public relations and marketing expert, along with her husband Eric, a furniture designer, managed rental properties in Los Gatos and Sunnyvale -- until they decided on a job-related stint in Hawaii.
Question: The board recently sent out a notice of new Pet Rules which includes that pets should not be walked within ten feet of the buildings. Violations carry a $25 fine. Although not expressed, presumably it has to do with pet messes. Thoughts?
When a home buyer signs up for a mortgage on his or her property, that means a termite inspection will soon occur on the property. In most contracts, you"ll find an order for a termite inspection. It"s negotiable who will order and pay for the inspection, but you"ll have one regardless, especially if you have a mortgage.
What people new to homeownership don"t know tends to be a lot. Boot camps offered to first-time buyers in the form of classes are already seen in many cities. But what about first-time renovators? Or how about those interested in restoring an older home? Perhaps there should be a boot camp for them as well.
An appraisal of a home is always supposed to be a fair, impartial and professional evaluation of a property"s true value and not under pressure from special interests.
Let me begin by saying that I"m a huge fan of the TV show CSI, so much so, that I watch the nightly re-runs on cable as well as the originals on Thursdays. I"m not talking about the spin-offs that take place in Miami or New York, but the version based in Las Vegas.
News this week that real estate agents will soon have an emergency preparedness guide to hand to new home buyers came as both a welcomed surprise and fodder for another idea whose time has come.
Heed only the new official warnings about the potential for radon in your home, how to detect it and how to mitigate dangerous levels of the radioactive gas when necessary.
Earthquakes are like rude house guests. They show up when you least expect them, trash your place and leave without picking up. Like rude guests, they are no laugher matter. While earthquakes are unpredictable, there are things you can do to reduce the consequences. If you live in an area that is vulnerable to earthquakes, here are some handy suggestions:
Home builders hammered by growing demand upped production of new homes to 2.02 million in October, an increase of 2.2 percent from a year ago, according to the U.S. Census Bureau.
Grassroots consumer advocacy groups say a movie star"s real life courtroom drama is a symbolic victory for all homeowners who"ve suffered construction defects -- and the movie star appears to agree.
I"m married to an urban planner who, until recently, tended to work for whatever city we lived in. So in my last house, when I wanted to put a fence in the side yard of our corner lot, my husband said no. Turns out that not only would that have required a permit from the city, but I also couldn"t have put it where I wanted. Although our vast lawn rolled from doorstep to street, that first 10 or 15 feet of lush grass we tended each week technically wasn"t ours. The city could choose to build a sidewalk on it at any time -- and if I"d built that fence, or even put in any bushes or trees, I might have had to take them out.
What if your heating oil tank leaked and the contamination had to be cleaned up?
For a few thousand dollars you can add an extra layer of wild fire protection to your home if you are willing to spray it with monoammonium phosphate, a fertilizer found in fire retardants.
The first house my husband and I bought looked like a dud. On a corner lot in an old Florida neighborhood, the ficus hedge that surrounded the property was thin, gangly, and well over 12 feet high. Someone"s great idea of using areca palms as foundation plants grew into a ridiculous mistake -- the mature, feathery palms now obscured the windows and masked any incoming sunlight.
Billions of dollars worth of equity cashouts by homeowners during the refi boom of 2001-2003 not only helped the U.S. economy, concludes a new federal study, but they were smart financial moves for the individual homeowners themselves.
Hi Bill
As design trends come and go, one of the ever-changing elements is color, in which hues zip in and out of popularity. When you think about home dûcor in
If you"ve recently gotten married or divorced, have improved your kitchen, or made your home safer, then the insurance industry says you should review your homeowners policy. You might be eligible for lower premiums, or you may need to increase your coverage so you"re not underinsured.
You"ve just finished moving in, and you"d rather spend time figuring out where the torchieres and silverware go, not the trees and Santas. Or maybe you"re like me, and you"re getting ready to move soon after the holidays. Either way, give yourself a break this holiday season, as well as fewer boxes to contend with.
Wouldn"t it be cheaper to simply bulldoze that hulking old Victorian and build a new home following the latest building codes?
Eric and Ann Olen thought they had taken every precaution in protecting their baby, including installing child-proof gates, safety plugs in electrical outlets, and moving plants out of reach. But their world came to a crashing halt last June when their 15-month-old daughter Lara became strangled by a loop of inner cord she"d managed to loosen from the blinds that hung on the window over her crib.
More popular than ever, kitchen islands are transforming into multi-functional, aesthetically pleasing must-have features for a growing number of homeowners.
If you"re one of many Baby Boomer parents whose children have left home,
Trick #1: Google Voice - The Ultimate in Phone Services
I"ve always worked in historic neighborhoods, so the ability to negotiate inspections has been a critical part of my success. And yeah, I"ve gotten good at it. If you"re interested, I"ll share some of my secrets with you.
At first, it"s novel, a real hoot, and quite a spectacle.
In every cloud there is a silver lining -- it looks like that adage is proving its validity once again.
Working at home reduces drive times and that cuts climate-changing greenhouse gas emissions, but the lifestyle, newly recognized as "green," is becoming the latest victim of mortgage market malaise.
When a Fortune/CNNMoney.com writer recently opined about those responsible for the mortgage morass, the Feds and Wall Street were at the top of the list, but mortgage brokers and lenders weren"t far behind.
With the market for subprime mortgages in a virtual free fall, new home loan applications for Federal Housing Administration (FHA) loans are up sharply. But FHA officials say the increase -- welcome though it is -- should be even higher given the degree of shrinkage in the subprime sector.
With all this recent talk about hybrids it"s no wonder refinance applications are up. People are seriously thinking about getting out of them and into fixed rate mortgages. Even though their adjustment period won"t take place for another couple of years. What gives?
The subprime biz is over-reacting and so is everybody else.
If you are a typical U.S. homeowner, you think about the mortgage once a month, when you write the check, put it with the payment coupon in the envelope and drop it in the mail.
The latest statistics from the Federal Bureau of Investigation confirm that mortgage fraud is on the upswing.
Question: We recently went to settlement on our first home. The attorney conducting the process handed us a large pile of papers and asked us to sign them. One of them was a form which would authorize our lender to get our personal financial information from the IRS. We objected but were told that this was a lender requirement. Is this legal?
A year ago, I covered the Phoenix market in this column, saying that comparing April "08 to April "07, it looked like this western market had hit bottom – sales were up 15 percent year-over-year. That prediction, seems to have been right on the nose as nearly 12 months later, sales are up a whopping 78 percent from March 2008 to March 2009.
Pull the "triggers!" That’s the demand from the National Association of Mortgage Brokers, a 27,000-member trade group that is the largest in the home lending field. The “triggers” it wants to pull have nothing to do with weapons. Instead, the group is targeting a little-known marketing product developed by the three national credit bureaus.
Are modest-income, minority and credit-challenged home buyers being targeted for the new breed of "non-traditional" mortgages -- interest-only and "payment option" plans -- that allow purchasers to stretch their incomes and buy higher cost properties?
What"s the worst sort of real estate experience you can imagine? How about a mortgage that eventually eats your entire house -- your entire equity stake -- and leaves you penniless despite years of double-digit appreciation?
Many people have emailed me lately with their woes of buying pre-construction dwellings a few months ago in hopes of grabbing a quick buck by flipping the dwelling once they go to settlement. In the heated market last year and previously, many a novice investor made a lot of money in this way. However, the warning given at that time that a buyers market could cause them much pain and financial suffering went unheeded by many and now they"re paying for it.
It"s not the loan that"s predatory -- it"s the loan officer. When the press gets its teeth in something often times it"s too busy shaking its head to really understand what"s going on. States are all trying to define "predatory" and there"s federal rumblings as well. But what is misunderstood is that the loan itself is not predatory.
As interest rates rise, as homes get more expensive and as more and more buyers seek high-leverage, higher-risk mortgages, instead of tightening credit, lenders are taking steps to keep the easy money easy.
In a move that could affect thousands of home buyers around the country this year, the Federal Trade Commission has asked an appellate court to order mortgage insurance companies to inform consumers whenever they raise monthly premiums because of negative information contained in credit files.
A decade ago, architect and "Not So Big" life style visionary Sarah Susanka started up the road to gurudom with a blueprint for living that extolled the values of living responsibly, sustainably and meaningfully.
Behind your back -- and probably without the knowledge or consent of your mortgage loan officer -- the national credit bureaus have begun hawking your personal financial details within 24 hours of your making a loan application, a rate inquiry or a request for a mortgage preapproval letter.
Whether you"re an entrepreneur who is looking for an office for your company, or you"re an investor wanting to buy commercial real estate, you"ll likely be shopping for a commercial loan.
Homeowners facing default on their mortgage too often take the head-in-the-sand approach and leave their No. 1 asset exposed to foreclosure.
You"ve seen the advertisements and heard the radio commercials. "Here at XYZ Mortgage we compare rates with over 100 lenders" or "Our company has access to over 300 mortgage loan companies nationwide!" Pretty impressive, isn"t it? 100 lenders? 300 banks? Do you believe all that?
As many as perhaps a million home buyers will catch a slight interest rate break next year, thanks to one of the largest increases on record in the so-called conforming loan limit.