Blog Archives
Home Purchase Timeline
I have been asked over the last few months to explain the timeline for purchasing a home. Let me start by saying each bank is different. What one bank or mortgage company does, many times will not be the same for others. I have found in my years of experience, each company has their own niche. As a mortgage broker, able to shop mortgages with several lenders, this allows me to select a company based on their strengths in loan programs and turn times. Read the rest of this entry
What to expect during the appraisal process
These days, the mortgage stress doesn’t end once you have received your loan approval. You still have the appraisal hurdle to get though. The mortgage industry, over the last few years, made major changes in this area as well. Lender’s are now requiring the use of a 3rd party appraisal company to order, process, assign, and review the appraisal. Read the rest of this entry
Buyer’s Closing Costs vs. Seller’s Closing Costs
If you’ve read Jennifer’s blogs, you know the definition of closings costs. Certain fees are automatically assigned to either the buyer or the seller; other costs are either negotiable or dictated by local custom. Since we have many transients in Florida, I get asked about this a lot. Here’s what you can expect: Read the rest of this entry
What is a Short Sale?
I’m going to make this a two part blog. First, I’ll explain what a short sale is and how the process works. Then, next week, I’ll tell you about possible ramifications and other parties involved. A short sale is a sale in which the proceeds from selling the property is less than the balance of debts secured by liens (mortgages) against the property and the property owner cannot afford to repay the liens’ full amounts. The lien holders then agree to release their lien on the real estate and accept less than the amount owed on the debt. Read the rest of this entry
