Blog Archives

Landlord’s Beware: “Self Help” Can Cost You Big

Let me start this week’s blog by way of a hypo: A landlord meets a prospective couple interested in renting their single-family home. They seem very nice, well spoken, drive decent cars, have no qualms about first, last, and security, and can seemingly afford the monthly rent. However, regrettably, the landlord agrees to keep the utilities in his/her name because it would have required the tenant to pay a large utility deposit that they could not afford. After a few months into the lease, the nice couple now has 8 people living in the 2/2 home. The property is now being neglected and the rent and utility payments are habitually late if paid at all. The tenants are avoiding the landlord’s calls like the plague and if they do answer, are insolent. They won’t allow access to inspect the home, and start complaining about any and every little thing they can think of.   Read the rest of this entry


Buying Your Home
Settlement Costs and Helpful Information


C. Adjustments To Costs Shared By Buyer and Seller

At settlement it is usually necessary to make an adjustment between buyer and seller for property taxes and other expenses. The adjustments between buyer and seller are shown in Sections J and K of the HUD‑1 Settlement Statement.  In the example given above, the taxes, which are payable annually, had not yet been paid when the settlement occurs on July 1. The borrower will have to pay a whole year’s taxes on the following December 1.  However, the seller lived in the house for the first six months of the year.  Thus, one ­half of the year’s taxes are to be paid by the seller.  Accordingly, lines 211 and 511 on the HUD‑1 Settlement Statement would read as follows: Read the rest of this entry

What’s the first thing you do after closing?

What’s the first thing you do after you’ve closed on your dream home?  Okay, AFTER you’ve jumped for joy, screamed with excitement and toasted your drinks…?  Any guesses?  It doesn’t have to do with the water, the electricity, none of that.  It’s as simple as this:  Read the rest of this entry

Is renting cheaper than owning?

That’s the age old question.  Because of today’s growing rental market, I thought it was appropriate to discuss this topic.  This week, I had the opportunity to be a mentor for young ladies in the Girls Going Places program. It’s a GREAT organization that teaches young girls, ages 12-18, how to be financially independent and explore entrepreneurism and leadership in the business world.   During this big one-day event, the girls have to create a business plan, start a business (or choose a career) and budget their lifestyle.  Read the rest of this entry