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photo credit: *clairity*

If you have been watching the news over the past few months, you have probably heard the phrase ?Fannie Mae and Freddie Mac? time and time again. And while most people are aware that this phrase has something to do with the financial and mortgages industries, they are not exactly sure what. To go along with this, most people have no clue on whether or not Fannie Mae and Freddie Mac affect their money or the way that they live. Fortunately, learning the inner workings of these organizations is not difficult.

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photo credit: Paul Schultz

Adding to the value of your home is a great idea. And while you need the money and time to make this happen, you also need knowledge of what changes are best. That being said, there are not many projects that can add more value than a bathroom remodel. This has been the case for many years, and probably always will be. When it comes down to it, bathroom and kitchen updates will add the most value to a home. And even if you do not plan on selling your home, this added value can go a long way in helping your situation in the future.

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photo credit: sscornelius

The so-called “short sale” in real estate is quite an oddity in comparison to traditional real estate lending. It essentially means that the bank that offered the mortgage loan will be willing to accept an amount lower than what is still owed. This is obviously something that a lender generally wouldn’t be interested in doing so the short sale is an uncommon aspect of real estate sales. The fact that it’s not common makes it a bit confusing for people who have never been involved in a short sale before. However, it’s something that can be done fairly easily, especially with the housing market the way that it currently is, so it’s worth looking into if you’re in the business of buying and selling real estate property. (more…)

photo credit: G & A Sattler

Have you ever considered a lease to purchase agreement. These home purchase deals can sometimes be a great boon to both the seller and the buyer but before you leap its best to know what you’re getting into. Lease options, options to purchase and lease purchase agreements all sound sort of the same but they’re actually three distinct purchase agreements. Each state has its own laws and regulations on these purchases and you should check your state’s particular version as they all vary slightly. (more…)

photo credit: Jofus | JoeTheDough

Qualifying to receive a home mortgage loan has never been a particularly easy thing and it’s an experience which has only gotten more difficult in recent years. With the sub-prime mortgage bust and the increase in home foreclosures that has taken place, banks are more hesitant than ever before to offer a home mortgage to someone. Many people who once owned homes now rent because they can’t get approved for a mortgage loan. But that doesn’t mean that getting a home mortgage is impossible. It just means that you need to know what you have to do (and prove) so that the lender sees you as a responsible bill-paying home owner who deserves a home mortgage loan. (more…)

photo credit: Brandie!

Many people feel silly asking really basic questions about mortgages. They feel like this is something that they should already know since almost everyone they know has a home mortgage. However, you shouldn’t be afraid to ask the questions that you need to ask in order to make sure that you understand what you’re getting in to with a home mortgage. You can’t expect to know this information if you’re too afraid to find it out to begin with. And failing to ask those important questions can make the mortgage process far more confusing (and financially stressful!) than it should be. (more…)

photo credit: visualpanic

The reverse home mortgage is a home equity loan available to seniors as a means of obtaining income from their homes. In positive situations, it can be a way for an older person to stay in his or her home despite a loss of income caused by retirement. It can even be used to invest in the home, create a profit, pay off additional rental property mortgages and establish financial security. However, bad choices (including using bad lenders and accepting bad terms) can make the reverse mortgage a negative situation instead of a positive one. (more…)

credit: Amy March

If you’re in the business of buying real estate then you probably pay close attention to the mortgage fraud cases that happen around the country. You want to make sure that the loans you get are legitimate loans that won’t turn nasty on you in a few years. It turns out that you’re not the only one who is paying attention to this issue; the FBI has reported that they’re seriously stepping up their efforts to stop mortgage fraud in its tracks. (more…)

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.

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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.

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