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I'm assuming that you are a joint borrower on a mortgage with another person. The answer to your question can actually be two fold: 1. If the other party wants to be the only person on the mortgage, they must simply refinance the property in their name only. They would apply for a loan in just their name and have you execute what is called a "
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A hard pull , as you are referring to it, is when you know that someone is pulling your credit report. Such as when you are shopping for a mortgage, a car, a credit card etc. These credit inquiries are done with your complete knowledge and permission. Do you get pre-approved credit cards and pre-approved loan offers in the mail? I'm sure you do
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There are a few reasons for this. The first and foremost reason square footage is listed as a range is the liability to the agent inputting the information. Along with this fact, sometimes you will also see a statement in the comment section of the MLS listing that states "BUYERS AGENT TO VERIFY SQUARE FOOTAGE". With that said, the agent does
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The general rule on all mortgages goes this way. The loan will be based on the price agreed upon in the purchase agreement or the appraisal value "WHICH EVER IS LESS". In a way the difference does go to the buyer in terms of equity. The best example that I can give is: Lets say you put in an offer to purchase a property at $100,000 and this
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IF you are looking to do a RATE and TERM refinance, in other words, you just want to lower your rate and not take any money out to pay other debt, then the loan program that you are going to want is the IRRL (interest rate reduction loan). This is a fantastic product which will let you refinance with only the following: 1. A credit report showing just
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A VA loan, is a loan that is offered to active and in-active military personnel. This loan is one of the only loans left in the lending world that requires NO money down and NO monthly mortgage insurance. This loan is designed to assist military personnel the means to affordably get them and their families in to a home of their own. Again, NO down payment
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This is basic Real Estate 101. The only person that a Licensee can accept any kind of a payment from is the Responsible Broker in ANY transaction. This same rule applies to Broker Associates as well. Let's say that the seller of a property gives you a nice Thank you card with $200.00 in it. Can you keep it? The answer is quite simple, NO. All money
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If your property is currently just a listing for sale on the market, you certainly can take your home off the market. Just read your AGENCY AGREEMENT you signed at the time of your listing. Carefully look for any provisions that state that you would owe thebroker for items that you agreed to pay for up on a termination of listing agreement. Some agreements
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As an experienced past Real Estate Broker, I would like to tell you that I've never kept anyone in a 6 month listing if they wanted out of. It's just bad for business. If you have a Real Estate broker who in fact is NOT acting in your best interest, technically the contract between you and the Broker can be terminated. Let me explain. When you
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That depends on why they are backing out. Let me put it this way. If the home buying process went as planned, for instance; the appraisal was satisfactory, the home inspection had no problems and the lender has approved the loan. Now, for one reason or another the buyer just woke up one day (or possibly found another home) and decided NOT to go through