credit: Michael248
When it’s time to move to a new home, you have two options. You can hire a moving company to transport all of your boxes and furnishings to the new home or you can roll up your sleeves and get ready for some hard work yourself.
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Moving Company vs. Moving Yourself
Basic Types of Real Estate Insurance
credit: VisitMyLuxuryHome.com
If you’re going to make the sometimes-risky investment in real estate, you should make sure that you protect your purchase and your new property with the right type of insurance. The type of insurance that you’ll get depends on what your involvement is with the home (whether it’s your primary residence or a rental property) and whether you desire any additional or extended insurance.
Life Insurance as a Method of Decreasing Reverse Mortgage Risks
credit: Leonid Mamchenkov
The reverse mortgage is a home equity loan available to senior citizens. It essentially takes the home equity that the individual has already invested in his or her real estate and gives it back to the home owner. It is primarily used by seniors who are at risk of losing their homes as a result of the high cost of living that they experience after retirement.
REX vs. Reverse Mortgage
credit: EverySpoon
There is a new loan option available to people which is being advertised as an alternative to the reverse mortgage loan. It is called the REX loan. The main difference between the two loans is in the ownership of the home. With the reverse mortgage, you remain the owner of your home but you use home equity to receive income payments. With REX, you essentially enter into a partnership that says you will split the proceeds of any future home sale with the company that has partnered with you.
Work with a Green Real Estate Agent
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If you’re interested in the environment and you’re looking to a buy a home, you can combine your needs by working with a real estate agent that specializes in green real estate. This term refers to real estate agents who take an all-around eco-friendly approach to their work. On the consumer end, they assist you in finding a home that is energy-efficient. On the business end, they implement green practices in the office.
Albany Homebuilders Hype Up Housing Market
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credit: Micah Taylor
If you pay attention to the real estate trends happening in the United States today, you know that the whole nation is in the midst of a housing slump. However, you wouldn’t think that was the case if the only media you were exposed to was that being promoted by a group of home builders in Albany, New York.
Foreclosures May Be On The Decline
credit: Jaypeg21We all keep waiting for news that foreclosures are on the decline. There is hope that the trend is decreasing with a new report from Realtor stating that foreclosure rates decreased four percent from January to February of this year. That isn’t enough to say for sure that we’re going to start seeing less and less foreclosures in the housing market but it’s a glimmer of hope for those people who have been waiting on the end of this negative trend.
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Florida Guilty of Mortgage Fraud
Florida has been ranked the number one state for the problem of mortgage fraud for the second year in a row. Mortgage fraud is of great concern these days because the downturn of the real estate market has made some people desperate to get a housing loan. That kind of desperation breeds financial problems and fraudsters are taking advantage of that fact by targeting this population.
Questions to Ask Before Getting a Reverse Mortgage
credit: FoxgirlThe reverse mortgage loan is one of very few mortgages in the country that is actually on the rise. That’s because this loan is entirely different from the standard mortgage and serves a need in the community that exists today. Rather than being a loan that you take out and have to pay back each month, this is a loan that is paid out to you from the lender. The reason that the bank does this is because you are accessing the money through your home equity.
Chicago Cuts Jobs Because of Housing Slump
credit: scmikeburtonIt isn’t just individual homeowners who have been impacted by the real estate downturn; city governments are also facing economic problems as a result of the housing slump. The city of Chicago has discovered that their projected incoming tax budget isn’t as high as they expected as a direct result of decreased real estate market activity.
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