Getting A Loan Modification

February 23, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

If you are dreading a possible foreclosure because you cannot afford to pay the mortgage, a loan modification can save you.  A loan modification is also a good solution for those homeowners who cannot refinance.

Modifying a loan restructures the terms of the existing mortgage without refinancing.  The terms that can be modified are the amount of monthly payments, length of loan and the principle to fit the current financial status of the borrower.

Anyone can get a loan modification as long as they prove their genuine hardship in paying the mortgage.  Each lender will have a different set of modification guidelines and are currently adopting new guidelines to support the increase…

Mistakes When Selling A House

February 23, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

A lot of time, effort and stress are involved in selling a house.  Lack of knowledge and experience can cause a lot of mistakes for homeowners that could end up costing thousands of dollars.

Here is a list of common mistakes homeowners make while listing and selling their homes so you can avoid these blunders the next time you have a real estate transaction.

1. Wrong Asking Price.  Pricing the house too high may cause your house to sit on the market for a long time.  Listing the house at a very low price will make you lose a lot of money especially if your house has a much higher market value.

2.…

Lil Wayne Lists His Miami Beach Condo

February 23, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

Grammy winning rapper Lil Wayne lists his Miami Beach Florida Condo for $2,799,000.  The rapper bought the condo at the 37-storey Murano Grande complex in Miami Beach in August of 2007 for $3,100,000.  The condo measures 3,990 square feet with 4 bedrooms and 3.5 bathrooms.  The condo has a private elevator landing that opens into an entrance hall.  The condo has a library/media room, master suite, a 35-foot long and 700 square feet grand salon with a large terrace.

The master suite has two walk-in closets, small dressing room and bathroom with a large spa tub.  The kitchen/family room is tucked down a hallway and opens to a breakfast terrace.  Two…

Julianna Marguiles Re-Lists Her Santa Monica House

February 23, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

Emmy and Golden Globe winning actress Julianna Marguiles list her Santa Monica house.  The actress bought the house in October of 1996 for $1,395,000.  In September of 2006, the actress listed the house with an asking price of $4,500,000 but was taken off the market in January 2009.  She recently re-listed the house in mid-February 2010 with a lower asking price of $3,250,000.

The house has 3 bedrooms and 2.5 bathrooms in the main house and 1 bedroom and one bathroom in the detached guest house.  The interior of the house includes a formal living room with white walls, dark chocolate stained hardwood floors, fireplace and a vaulted wood beamed ceiling. …

Tips On How To Sell Your Land

February 23, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

Land is an investment that can secure your future especially when you retire because of the profit you can earn from it.  Although it is a good investment, selling a land is not easy and it requires a lot of hard work and diligence.  In selling your land, you need to guard yourself from pitfalls.  Here are a few tips when selling your land:

1. Avoid selling your land because of rash decision.  Think it over to make the right decision.  You can ask for advice from your friends and family or from a professional to help you make the right choices.  You also need to inform other members of the…

Tips On How To Purchase A Bargain Home

February 23, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

The last couple of years were very hard for the real estate market.  The economic crisis caused a lot of homes to be sold at a lower price. But the decline in home prices doesn’t mean that every house selling below asking price is a good deal.  To help you get the best deals on bargain homes, follow these smart tips:

1. Research and find homes online.  If you see a number of homes for sale that appeals to you, set up an email alert for each one to get notifications like price changes and listing modifications.  Some home sellers change their asking price after posting their ad on the internet…

How To Succeed When Investing In Real Estate

February 22, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

You need to be skillful and observant when investing in real estate.  Many new investors make mistakes that lead to financial losses but that can be avoided by planning and formulating investment strategies.  Follow these tips to avoid common mistakes when investing in real estate.

1. Involving too much personal money.  Real estate involves other people’s money.  In any purchase minimize the use of your own money.  Make sure you have reserves for emergencies or unpleasant surprises.
2. Buying at market value will not profit too much.  Invest in properties with a purchase value of 70% or less market value and always look out for changes in property prices.
3. Ask help from…

How To Avoid Foreclosures

February 22, 2010
1 Star2 Stars3 Stars4 Stars5 Stars
(No Ratings Yet)
Loading ... Loading ...

The current crisis of the economy is making it hard for homeowners to pay the bills because of the low unemployment rate.  Paying the mortgage every month is very important. Not making the mortgage payments on time results in a low credit score making it tough to get another loan.

When a person doesn’t have a job, he will not be able to make the mortgage payments.  The bank will then start a foreclosure process that will take the house back from the borrower.  To help you save your house from a possible foreclosure, contact your lender.  The lender will give you all options to keep you from losing your home.

An…