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DEFINITION: ABSTRACT OF TITLE

June 28, 2019

Abstract of Title ~ A breakdown or summary of all public records having to do with the value of and the continuation of clear title to your property. Your title company usually has an 'abstractor' examine public documents pertaining to the land, such as liens, easements, mortgages or anything else that might have some effect on its value or ...

APPRAISALS AND INSPECTIONS

June 25, 2019

An appraisal and a home inspection have some similarities. Both services ensure that your property will meet certain, basic criteria. However, they are two distinct functions in a real estate transaction. Let's start with the appraisal. The appraisal assures the market value for the buyer and the lender. It is usually ordered and required by ...

House-poor can easily turn to house-less

June 22, 2019

Our friends made a strategic decision almost three months ago: They went to a five-year fixed-rate mortgage from the floating rate they had been enjoying, one that carried an interest rate of just 1.25%, but had risen to 1.75%. They are now locked in at 3.74%, which is well below the bank posted rate of 6.25% and below the 4.25% floating rate they ...

Extra payment to principal may not dent monthly payments

June 19, 2019

Many borrowers would like a mortgage on which the monthly payment would drop following a large payment to principal. They may have highly irregular income, or they may anticipate coming into a large sum of money from a bonus, bequest or insurance settlement. Mortgages fall into four categories with regard to how responsive they are to this ...

Why You Should Be Investing Your Money In Real Estate

May 15, 2019

As entrepreneurs find success with their primary business ventures, many search for the proper investments for their profits. Of course, we can and should all start traditional tax preferred vehicles like an IRA and 401k. These are the bedrock of good 'benefit' planning for ourselves and our employees. I'm also convinced more entrepreneurs ...

Borrowing smarts

April 25, 2019

When you secure a mortgage to purchase a home you generally place a percentage of the cost of that home as a 'down payment.' The rest is borrowed with the property as collateral. You are given a payment schedule and once this is satisfied, you will own 100 percent of the property. And in the meantime, you have a home for yourself and your loved ...

7 reason to plunge into the property game

December 29, 2012

If talk about a housing correction are keeping you out of the property investment game, here are seven top reasons to overcome those fears. As real estate veteran Paul Kondakos, president of RealtyHub.ca, points out your time to buy an income-producing property may be now. 1. Mortage Rates - Canadian bond yields continue to sit at historic ...

Even in shaky times, real estate can offer a solid investment foundation

November 13, 2011

Real estate is for optimists, if the recent gains among real estate investment trusts is any indication. As a group, U.S. REITs have risen 170 per cent from their lows in early 2009. Canadian REITs have done almost as well, rising more than 120 per cent. And neither of those returns factors in dividend payments. The gains come as the ...

Prepare your finances.

March 27, 2011

Before the offers start rolling in, you should prepare for the massive amounts of money that will pass through your hands. A lot of the money will probably be going to your mortgage.If you own your home free-and-clear, congratulations! For the rest of us, there are a lot of mortgage considerations. Many people use the proceeds from the sale ...

NINE LENDING FACTORS

January 19, 2011

Did you ever wonder what a lender looks at when determining the value of your home? A simple price per square foot doesn't always work. Many factors enter into properly pricing real estate with location being one of the top items. These nine items will give you an idea of how a lender determines the value of a property and how much money the ...
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