10 Apr 2024
By Mark Feder

Negotiating Repairs After a Home Inspection

Mortgage Tips
So, you’ve found your dream home, made an offer, and had the home inspection done. But wait—what happens next? For many homebuyers, negotiating repairs after a home inspection can be a daunting task. However, with the right approach and some negotiation skills, you can ensure that your new home is in tip-top shape without breaking the bank. 1. Understand the Inspection Report The first step in negotiating repairs is to thoroughly review the inspection report. Take note of any major issues that could affect the safety or structural integrity of the home. These are the items that should be your…
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29 Mar 2024
By Mark Feder

A Consumer Guide To Second Mortgages

Mortgage Tips
In the realm of personal finance, the term "second mortgage" often emerges as a solution for homeowners seeking additional funds. But what exactly are second mortgages, and how do they work? Join us as we embark on a journey to unravel the basics of second mortgages, helping you make informed decisions about your financial future. What Exactly is a Second Mortgage? A second mortgage, as the name implies, is a secondary loan secured against your property, in addition to your primary mortgage. It allows homeowners to tap into the equity they've built up in their homes over time. Equity is…
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14 Mar 2024
By Mark Feder

Escaping the Rent Trap: Building Equity through Homeownership

Mortgage Tips
Are you tired of pouring your hard-earned money into rent payments every month, only to see it vanish into thin air? Have you ever considered that homeownership might be the key to escaping the rent trap and building wealth for your future? We will explore how homeownership can be a powerful wealth-building tool compared to renting. Building Equity: The Foundation of Wealth One of the most compelling reasons to consider homeownership is the opportunity to build equity. Unlike renting, where your monthly payments simply cover the cost of living in a property owned by someone else, each mortgage payment you…
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06 Mar 2024
By Mark Feder

Consider an Adjustable-Rate Mortgage If You Plan to Sell Within 5 Years

Mortgage Tips
Which is better -- a fixed-rate mortgage or an adjustable-rate mortgage (ARM)? It's a common question among home buyers and refinancing households. The answer? It depends. Fixed-rate mortgages offer the certainty of a known, unchanging principal and interest payment for the life of the loan. This stability can aid in budget-setting and financial planning, providing homeowners with a sense of security and peace of mind. On the other hand, adjustable-rate mortgages do not provide the same level of certainty. After an initial introductory period, the interest rate on the loan adjusts periodically based on prevailing market conditions. While this uncertainty…
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