Under Contract & House Has Been Damaged; Now What?

There’s an old adage He Who Has the Gold Makes the Rules aka ‘ The Other Golden Rule’. Nothing could be further from the truth in this scenario so the best answer here is ‘It depends’.

How far can a Mortgage Lender go to collect Deficiency Judgments?

There is no guarantee that the lender will always try to collect the deficiency judgment. Yes, having a judgment doesn’t mean the lender will surely collect it. After all, lenders will have to spend enough to pursue the collection. Only if you’ve enough bank balance, steady source of income or other real estate properties, then your lender may try to collect the judgement.

HUD Predicts Some Rents increased by as much as 25% in Raleigh – Cary MSA 2013

Simply put, if you’re planning a move to the Raleigh – Cary MSA of the Triangle area of North Carolina in 2013 and your housing needs are such that you require a four bedroom home, renting may not be your most economical option today.

What Gives My Mortgage Company the Right to Hold My Insurance Claim Check?

The Escrow Department will likely be the same department that will cash and hold your insurance claims check. Don’t be surprised if your bank/lender actually place a hold on the check for up to five business days due to the protential for fraud given the number of mass losses that have occurred recently.

When Should I Get A Survey?

Property Boundaries Fences should not be considered an indication of property boundaries. Legal property boundaries are demarcated by surveyor pins or stakes. These are typically 1/2″ to 3/4″ round iron pipes flush or buried slightly below land surface. Newer pins might have yellow or orange caps that indicate the surveyor’s license number.

Underwriting Tip – VA Loans Unmarried Applicants

Question: My partner and I are not married and only one of us is an eligible veteran while the other is not.  Can both our income be considered for the loan application? Answer: YES, as long as one of you have a VA entitlement and both of you meet your lenders credit criteria, your marital…

What is Private Mortgage Insurance?

Contents What Private Mortgage Insurance and why do I have it?Years ago when your grand parents bought a home they saved each extra penny they could until they had enough for a down payment that was equal to at least 20% of the  price of their dream home. What Private Mortgage Insurance and why do I have it? Years ago when…

Raleigh Area July 4th Fireworks 2011 Rain Make Up Schedule

If you are like me and have a young family you can appreciate how much effort goes into packing the family into the car for an excursion that will likely keep them out well past the  kids usual bed time. The Fourth of July is one of those rare occasions that our kids are out of the home past 6pm and…