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There are many ways for you to pay down your principle balance early. The easiest way is to make an additional payment directly on principle each month. In most states, there is no pre-payment penalty for making additional payments towards principle reduction. In many cases, just by making one extra payment specifically towards principle each year,
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There should be no negative ramifications to leaving a deceased spouse on title . Pending the state that you live in, title may revert to the surviving spouse. When properties are purchased by a married couple, title is usually taken as Tenants by the Entirety. This is a special way that a married couple hold title as "one" entity. The couple
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There are many ways to calculate the average time needed to sell your house and to calculate an average sale price. One of the easiest ways is to contact 3 real estate companies / agents and have them provide you with a comparative market analysis as part of the listing process. You may have to compensate them pending your area's protocols. Another
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Yes, in many cases you can move a mobile home onto land that you own for residential purposes. You will need to check with your municipality to determine applicable zoning and land use laws for your area. A mobile home does not need to be in a community, and typically land in these communities are rented, not owned. Something to understand about mobile
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Pending your state foreclosure laws, it is possible to purchase the property prior to the house being sold back to HUD. One of the steps in many states in the foreclosure process is to actually "auction" the property on the steps of the county clerks office. In many states, the attorney representing the lender that had the primary position
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The largest concern I would have with anyone being anonymous in a contract for the purchase and sale of Real Estate would be performance of and under the contract. Pending your state, a purchase agreement has specific stages where all parties need to perform specific steps towards the eventual closing. If there is anonymity in the agreement, there cannot
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A title search is a search of the records of a county / regional clerk’s or recorder’s office regarding all activity / transactions pertaining to a specific piece of property. The title searcher or abstractor will review all transactions (sales, mortgages, liens) on a parcel of property from a specific point of time in the past to current
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Basically a GFE (Good Faith Estimate) is a summary of all costs associated with the purchase and financing of a 1-4 family residential owner occupied property. A good faith estimate must be provided by a mortgage lender or broker in the United States to a customer, as required by the Real Estate Settlement Procedures Act ( RESPA ). The estimate must
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Becoming pre-approved with a lender is not "harder" now than it was before. The same process existed for a Full documentation loan as it did previously. Gone are the "stated" loans where, if you had a good enough credit score, you did not have to provide much more information other than your salary. Here is a step by step guide for what you can expect
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There is no one answer to this question. Real Estate Abstracts or more correctly stated, " Abstracts of Title " are a compilation, usually by a third party, of the history of / and the status of title to a specific parcel of land. These manuscripts are a detail of all the transfers, and encumbrances associated with a specific parcel of land over a period