24 Jan 2023
By Mark Feder

What Is A Loan Contingency: An Overview

Mortgage
If you are in the process of looking for a new home, you need to find the right one to meet your needs. Sometimes, you want to learn more about specific properties before you decide if it is right for you. As a result, a lot of prospective buyers will include contingencies in their home offers that may allow them to back out without losing their earnest money. What are a few examples of loan contingencies, and how can you use them to protect yourself during the process?  Examples Of Common Loan Contingencies Even if you have agreed on a…
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20 Jan 2023
By Mark Feder

An Often-Overlooked Trick Can Help You Afford A Second House

Mortgage
The whole idea of investing is to use a portion of your money now to get more down the road. It is important for everyone to diversify their investments, and you might be thinking about buying a second house to do so. Investing in real estate is a goal that a lot of people have, but how can you get started? It was challenging enough to buy your first house, so how can you afford a second one?  Use A Cash-Out Refinance To Buy Your Second House One trick that many people overlook is that they can actually conduct a…
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18 Jan 2023
By Mark Feder

How Do You Actually Write The Check To Buy A House?

Mortgage
After you have found the right house to meet your needs, you need to make the down payment to complete the transaction. Can you show up at the closing table with a suitcase full of cash? Of course, that would be a bit suspect, so that is not actually how it happens. What do you need to do to actually hand over the funds to buy the house?  The Down Payment Is Verified Beforehand First, understand that the down payment is usually verified before you agree to the deal. Your real estate agent will work with you and the seller’s…
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12 Jan 2023
By Mark Feder

House Poor: What It Means And How To Avoid It

Mortgage
There is a good chance you have heard someone described as being house poor. What exactly does it mean? It is important to understand what it means to be house poor and how you can stay away from it. House Poor Means Spending A Significant Chunk Of Your Income On Housing Being house-poor means different things for different people. In general, it means spending a significant amount of your monthly income on recurring expenses related to your house. A few examples include your mortgage, the interest on your mortgage, your property taxes, and HOA expenses. Owning a house can be…
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