tag:blogger.com,1999:blog-1536328290346669362024-02-20T15:12:21.562-05:00Conquest Real Estate Group, LLC (248) 569-1486New Construction Homes in Novi MI: Conquest Real Estate Group - Your Trusted Real Estate Professionals (248) 569-1486Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.comBlogger42125tag:blogger.com,1999:blog-153632829034666936.post-86143678246646372042100-10-04T06:53:00.000-04:002013-10-04T07:19:26.847-04:00First Time Buyer Homes for Detroit Buyers<div style="text-align: center;">
<span style="font-size: large;"><b>Welcome to your NEW HOME!</b></span></div>
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Detroit has a unique opportunity right now. Currently, it is cheaper for people to BUY a home than to RENT a home. Before many people said they could not afford to own a home. In Detroit, these people either don't know the truth...or just simply do not want a home.<br />
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<span style="font-size: large;"><span style="color: red;"><b>Call Now for More Information: (248) 569-1486</b></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTD5lDlgRDw-sv3B2VjOpGe33zREKr9eSisA6SeeQQOiukyo-zAPP-xL-yp7eRnEp0fatZjngcsH9h4aL9KwhJ6ffdF62RyE_J_lIBbCTBp3T2N-_hByeMJg04XIWBWWaCo1dqBC7KFRVb/s1600/Image-Collage+of+Nice+Detroit+Homes.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="230" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhTD5lDlgRDw-sv3B2VjOpGe33zREKr9eSisA6SeeQQOiukyo-zAPP-xL-yp7eRnEp0fatZjngcsH9h4aL9KwhJ6ffdF62RyE_J_lIBbCTBp3T2N-_hByeMJg04XIWBWWaCo1dqBC7KFRVb/s320/Image-Collage+of+Nice+Detroit+Homes.jpg" width="320" /></a></div>
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We believe you want a nice home in a nice neighborhood in Detroit. There is a very good chance that you can qualify to own a home just like one of these, and right now, it's even cheaper than renting! <br />
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With the help from many special programs designed for FIRST TIME HOME BUYERS in Detroit and Michigan, Conquest Real Estate Group would like to help you WELCOME people to your NEW HOME.<br />
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QUICK TIP: Did you know that you might be considered a first time home buyer, even if you've owned a home before?<br />
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<span style="font-size: large;"><span style="color: red;"><b>Call to ask for more info: (248) 569-1486</b></span></span></div>
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Below here are some video tours of some of these homes. You'll notice how nice these Detroit homes are, and they're all in great neighborhoods.<br />
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<b>14314 Mansfield, Detroit MI 48227</b></div>
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<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/FsWrsFf5fPM" width="420"></iframe></div>
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<b>18009 Pinehurst, Detroit MI 48221</b></div>
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<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/3Iv8cmJlD8s" width="420"></iframe></div>
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<b>9870 Outer Drive East, Detroit MI 48224</b></div>
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<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/1u_douK4mpo" width="420"></iframe></div>
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<b>19502 Whitcomb, Detroit MI 48235</b></div>
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<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/kWmH2n1oJNc" width="420"></iframe></div>
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These are great homes in great Detroit neighborhoods.<br />
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Click <a href="http://conquestrealestategroup.blogspot.com/p/first-time-home-buyer-programs.html"><b>HERE</b></a> to see some of the special programs available for First Time Homes Buyers in Detroit and Michigan.Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-27291002270129211632013-11-23T20:19:00.000-05:002013-11-23T20:19:14.428-05:00Should I have my home inspected?<!--[if gte mso 9]><xml>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">When
you decide to purchase a new home, you should consider paying an independent
professional for a home inspection.<span style="mso-spacerun: yes;"> </span>Buying
a home is usually the largest single investment you will ever make. <span style="mso-spacerun: yes;"> </span>You’ll want to learn as much as you can about
the house before you buy it. After the inspection, you will know more about the
house, which will allow you to make decisions with confidence.</span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">A
home inspection is a visual examination of the physical structure and systems
of a house, from the foundation to the roof.<span style="mso-spacerun: yes;">
</span>A home inspector will check the roof, basement, heating system, water
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other aspects of buildings.</span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">He
looks for improper building practices, those items that require extensive
repairs, items that are general maintenance issues, as well as some fire and
safety issues.<span style="mso-spacerun: yes;"> </span>A home inspection,
however, is not technically exhaustive and does not imply that every defect
will be discovered. Some inspection companies offer 90-day limited warranties
to protect clients from unexpected mechanical and structural failures;
otherwise, inspectors are not responsible for future failures.<span style="mso-spacerun: yes;"> </span></span></div>
<div style="margin-bottom: .0001pt; margin: 0in;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0in;">
<span style="mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">The result of an inspection is
professional opinion of the physical condition of the property.<span style="mso-spacerun: yes;"> </span>It will also list which components and
systems may need major repair or replacement.<span style="mso-spacerun: yes;">
</span>A condition in most home purchase agreements is a favorable home
inspection.<span style="mso-spacerun: yes;"> </span>Should the inspection report
items that you are not comfortable with, the sale may be terminated without
cost to the buyer or modified to include your findings.</span></div>
<div style="margin-bottom: .0001pt; margin: 0in;">
<span style="color: black;"><br />
</span><a href="http://www.blogger.com/null" name="7"></a><b><span class="Heading2Char"><span style="color: windowtext; font-size: 13.0pt;">How do I find a home inspector?</span></span></b><span class="Heading2Char"><span style="color: windowtext; font-family: "Times New Roman","serif"; mso-ansi-font-size: 12.0pt; mso-bidi-font-size: 12.0pt;"><br style="mso-special-character: line-break;" />
<br style="mso-special-character: line-break;" />
</span></span></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">The best way to find
an inspector is to ask friends to recommend a home inspector they have used. You
should hire one who have completed a course or study program and have a
certificate of proof of completion.<span style="mso-spacerun: yes;"> </span>The
American Society of Home Inspectors has a tool to </span><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><a href="http://www.ashi.org/find/default.asp">Find
an Inspector</a> in </span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">n your area who belong to the non-pr</span><span style="font-family: "Calibri","sans-serif"; font-size: 11.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">ofit professional organization.</span>Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-27978869484928938202013-11-16T13:10:00.000-05:002013-11-16T13:10:21.397-05:00What are Home Mortgage Points? Origination Points vs. Discount Points<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">After you have
been pre-approved for a mortgage to buy your new home, you may hear something
about“points.”</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">This simply
means you have the opportunity to pay to decrease your mortgage payments and/or
save money on interest.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">A point is
equivalent to one percent of your total mortgage. For example, if your loan is
$100,000, one point would be $1,000 or one percent of the loan amount.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">The primary
types of points are (a) origination points or (b) discount points.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Origination points</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">When a mortgage
broker processes your loan, you and the lender are required to pay for his or
her service. <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">This payment is called an origination fee</i></b>, which is a percentage
of total mortgage loan.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Beware that
mortgage brokers can decide on their fee amounts, and some will charge you excessive
amounts. If you’re not paying attention, don’t know better and don’t have a
good buyer’s agent or real estate attorney representing you, you may not know
you’re paying too much.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">If you are
being charged two (2) points on a $200,000 loan, it means you will pay $4,000 (2%
of $200,000) when you are closing your loan. While that may not seem
ridiculous, it’s best to do some careful to research to find out if the broker
also is not getting a Yield Spread Premium or back-end points, too.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Mortgage
brokers do this by adding a prepayment penalty to your loan, which means if you
pay the loan off early, the lender or bank <a href="http://www.blogger.com/null" name="_GoBack"></a>penalizes you
by adding on a higher interest rate to cover their brokerage fees.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Although the
closing agent will discuss these fees with you at the closing and it will be
included in your paperwork, you may miss the significance of them if you don’t
understand what they mean to you.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Here’s how it
works:</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">A broker could
offer you an interest rate of 5 percent and not get anything from the lender.
The broker may also offer a 5.4 percent interest rate and get one percent of
the total amount of the mortgage from the bank or lender. Another possibility
is the mortgage broker could offer you an even higher interest rate and get
three percent back from the lender.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Be sure you ask
the broker the amount of his or her total commission. That way, you will be
fully aware of what your costs will be and be able to negotiate, decreasing
your costs and lowering your interest rate to save thousands in the long run.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Discount points</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">These points
are paid at the closing table and will help you get a better interest rate for
the duration of your mortgage.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">If you plan to
stay in your new home and keep your loan for a long time, say 15 or 20 years,
paying discount makes may good a route to take.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">Your lender may
offer you the opportunity to pay one percent of the loan (one point) to
decrease your interest rate by an eighth of one percent. But this option would
not make as much sense if you know you are going to refinance or sell your home
in a short period of time.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">The best way to
decide if buying discount points is a good option for you is to determine your
break-even point. The general rule of thumb is the longer you plan to be in
your home, the chances are better that this may be beneficial for you. So
crunch the numbers.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-fareast-font-family: "Times New Roman";">For instance,
if your loan will be $200,000 and your interest rate is 5.000%, your loan
payment, including principal and interest would be $1,073. But if you purchased
one discount point, your interest rate would drop to 4.875% and your monthly
payment would then decrease to $1,058. Then you would save $15 a month…in
exchange for paying and additional point (one percent of the loan for $2,000 in
this example) at closing.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US;">It would cost you $2,000 for that one discount
point at the closing. With the $15 a month savings, you would break even in 11
years. Since most families remain in their homes for less than a decade, in
this case buying discount points probably would not be a good decision. But it
could be a solid choice if you know you’ll say in your home longer.</span><br />
<br />
<div style="text-align: center;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US;"><span style="color: red;"><b>Call Conquest Real Estate Group for More Info: (248) 569-1486</b></span></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-18389185182253041472013-11-16T12:17:00.000-05:002013-11-16T13:01:42.981-05:00Five Steps for Finding a Good Real Estate Agent - A Superstar<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;">Buying your first home is an
exciting time, but the important first step in finding your dream home is to
find a great estate agent to help you navigate the process. A good real estate
agent will help you secure a loan, as well as find a great new home.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;">Take these steps to ensure it’s
a positive process, and you end up happy in your new home:</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;">Look for experience. </span></b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;">It’s the difference between finding a great real
estate agent and a mediocre one. You want to search for a buyer’s agent, one
who works with your best interests in mind, who has worked for at least a few
years. You’ll have more confidence in an agent who proves to be competent, reputable
and has successfully closed many properties.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;">Get referrals. </span></b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;">Contact agents who people you know such as friends, relatives and
co-workershave worked with in the past. If he or she did a terrific job for
someone you know and trust, you can be confident you’ll get similar results.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;">Ask for References.</span></b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;"> Also, don’t forget to ask the agent for
references and check those references out.Make sure he or she is a licensed
Realtor, and is a member of national, state and regional real estate
organizations. Be sure to ask other real estate agents you meet if they know
and respect the real estate agent you select.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;">Talk to several agents.</span></b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;"> Take your time when making a final decision on
the agent you select. Some agents will tell you anything to get you to sign
with them. Look for an agent that is realistic, not one attempting to sell you
a pipe dream.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;">Take your time selecting a Real Estate Agent.</span></b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;"> A hasty decision in choosing
an agent could end up being costly in terms of wasting time and money, not
getting the home you really want or paying more than you should. Sign a buyer’s
agreement only after you are comfortable with an agent after looking at
properties for several hours.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;">Search for a
web savvy agent.</span></b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;"> Choosing an agent that actively
is online is critically important. Statistics show that more than 85 percent of
buyers first learn about their home while surfing the web. Experienced,
competent real estate agents use laptops, tablets and their mobile phones to e-mail.<span style="mso-spacerun: yes;"> </span>They also text and send listings to potential
buyers, and they have open communication lines with sellers.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN;">Find a local
market expert. </span></b><span lang="EN" style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN; mso-bidi-font-weight: bold;">This
type of agent will be familiar with the nuances of your desired geographical
location. For example, they’ll know that the nearby neighborhood high school
has a great football team for your teen sports enthusiast; will be able to find
unlisted properties, as well as a variety of MLS listings in the neighborhoods
you want that meet your price point. They’ll also be good at knocking on doors
or using sites such as Craigslist to find unlisted or sell-by-owner properties.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Call Conquest Real Estate Group for More Info: (248) 569-1486</b></span></div>
</div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-25201775593031435752013-11-12T11:21:00.001-05:002013-11-12T15:21:04.210-05:00What documents will I sign at closing?<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">At the closing, you will be asked to sign many
papers.<span style="mso-spacerun: yes;"> </span>It is very important to take the
necessary time to read all paperwork to ensure you know what you are signing
and the impact they will make to your finances.</span><br />
<br />
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="mso-spacerun: yes;"> </span></span><br />
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Here are some standard forms you’ll be asked to sign:</span><br />
<br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Loan Note:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><span style="mso-spacerun: yes;"> </span>Details the terms of the loan, including the
amount you are borrowing, the term of the loan in years, the interest rate, the
amount of your payment, due dates and fees for late payments, and other key
terms.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Mortgage or Deed of Trust:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><span style="mso-spacerun: yes;"> </span>The document that will be recorded on the
land records to provide security/collateral for your loan.<span style="mso-spacerun: yes;"> </span>It is also the collateral for the loan.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">New HUD-1 Settlement Statement</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">:<span style="mso-spacerun: yes;"> </span>lists all receipts and disbursements made by,
on behalf of, or to the buyer and seller.<span style="mso-spacerun: yes;">
</span>Borrowers may compare their Good Faith Estimate they received
after applying for the loan to the HUD-1 Settlement Statement and ask their
lender or broker about any changes.</span><br />
<br />
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<![endif]--><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Affidavits:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"> Where applicable, the buyer may execute
sworn statements relating to</span><br />
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<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">owner-occupancy of the property;</span></li>
<li><span class="sellerpanelspan"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">current
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Disclosures and Acknowledgements:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-bidi-font-weight: bold;"> Where applicable, borrower may sign the following disclosures and
acknowledgements: </span></div>
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<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">acknowledgement that a default in
payment of the loan could result in a foreclosure</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">acknowledgement that the closing
attorney/settlement agent represents the lender</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">disclosure of the Annual Percentage Rate
("APR") as reflected on the Truth In Lending Disclosure or
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<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">disclosure of projected escrow account
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<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">acknowledgement that property is or is not
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<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">acknowledgement of receipt and review
of <a href="http://www.closingsource.net/survey.aspx"><span style="color: windowtext; text-decoration: none; text-underline: none;">survey</span></a></span></li>
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<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Loan
Application</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">:
standard form which reflects the income, assets, debts and other pertinent
information used to qualify borrower for the loan.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">IRS form W-9:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> <span style="mso-bidi-font-weight: bold;">verifies the borrower's social security
number for the reporting of payment of interest to the IRS</span><span style="color: #4a4d63;">.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">IRS
forms 4506 and/or 8821:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-bidi-font-weight: bold;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">authorizes the
lender to obtain information from the IRS to verify information on
application form.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">First payment letter:</span></b><span style="color: #4a4d63; font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">shows total payment
amount, date of first payment and information regarding where to remit payment.</span><br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><br /></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="color: red;"><b>Call Conquest Real Estate for More Info: (248) 569-1486</b></span></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-75389479715159896062013-11-12T11:10:00.001-05:002013-11-12T15:15:54.493-05:00What happens before closing?<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">A real estate closing is the process of recording a deed and
transferring the title of the property from seller to buyer. It sounds simple, but
it’s more complicated than transferring a piece of paper with the door keys.<span style="mso-spacerun: yes;"> </span>Many tasks must occur to complete a home
purchase.</span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><br />
<br />
Immediately after applying for a mortgage loan, the costs associated with
closing on your home should be provided to you.<span style="mso-spacerun: yes;">
</span>Your lender has three days from the time of the loan application to
provide a Good Faith Estimate of your loan costs so there are no surprises.
Within those three days you should also receive a copy of the booklet,
"Buying Your Home," which outlines the settlement process. If these
two things do not occur, talk to your lender. </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Other events or tasks that must happen before the closing
date include:</span></div>
<br />
<ul>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">The
closing agent talks with the seller's lenders to get loan payoff amounts,
receives instructions from your lender, prorates the property taxes, and prepares
instructions for you and the seller.</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">The title
company researches the ownership of the property, known as the title
search as described in a previous blog.</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">The lender prepares
the loan documents and sends them to the escrow company.</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">The
seller makes repairs or performs whatever you agreed needed to be done so
the inspection contingencies can be removed, and calls the utility
companies with a final billing date.</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">You,
the buyer, complete the loan application, buy a homeowner's insurance policy,
and call the utilities to get service set up in your name as of the closing
date.</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">The
real estate agents ensures the closing agent has the essentials and the buyer
and seller are in the loop so everybody knows when to show up, what to bring,
and what needs to be completed before then.</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">When
the closing agent has all the documents prepared, you will be told how much
money you need to bring to settlement in a cashier's or certified check.</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">If
your contract calls for a final walkthrough of the house within 24 hours of
closing, your agent should go with you and help mitigate anything that's not
right. You may discover the air conditioner has quit or the gas stove won't
light. Did the seller leave all the items specified in the contract? Problems
at this point could delay closing or mean having the escrow agent hold back
money due the seller until repairs are made.</span></li>
<li>
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">During the closing, there are many people involved in everything from
making sure the seller really has the right to sell you the house to recording
documents at the county office.</span></li>
</ul>
<div style="text-align: center;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="color: red;"><b>Call Conquest Real Estate Now for More Info: (248) 569-1486</b></span></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-59234254613930726542013-11-10T11:37:00.003-05:002013-11-10T12:07:19.437-05:00Home for Sale: Detroit: 18009 Pinehurst - $49,500<b>18009 Pinehurst, Detroit MI 48221 home for sale.</b><br />
<br />
3 Bedrooms - 1 Bathroom - Available for just $49,500<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7kqdtZ98gNuJKibUiRsXYcOo8XH571RDEVoruLOIHCVoSv0uzbGuf4lXrkar6jmXaJ8bJDx5_DwA1tcV9SK35dDaLYXZ2B6djtiRb8O2WZ2abbvLQqBTVOdh_zpAR_QSfYWBcMK_snPHH/s1600/Image-Detroit-Pinehurst+18009-Front+20130826.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7kqdtZ98gNuJKibUiRsXYcOo8XH571RDEVoruLOIHCVoSv0uzbGuf4lXrkar6jmXaJ8bJDx5_DwA1tcV9SK35dDaLYXZ2B6djtiRb8O2WZ2abbvLQqBTVOdh_zpAR_QSfYWBcMK_snPHH/s320/Image-Detroit-Pinehurst+18009-Front+20130826.jpg" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAwSIVNoTVfee7TQAFVHhYt1EnRyQHikTjVIFoOUaClvFv6noxJXKwznkX_fhV5GCyfv6DFegGMEMTpQycUwpTkgQFrVv_mZ5n-keFvNetZB71-Et2xK9mlaH6vj7yqEkzKWR83rAIqKL1/s1600/Image-Lauder+18964-Front+20131030.JPG" style="margin-left: 1em; margin-right: 1em;"></a></div>
<br />
A great looking bungalow starter home on a nice block with other nice homes.<br />
<br />
Below, you can see a video tour:<br />
<br />
<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/3Iv8cmJlD8s" width="420"></iframe></div>
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Contact Conquest Real Estate Group at (248) 569-1486 to inquire.</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-20383406014109503132013-11-10T11:32:00.002-05:002013-11-10T12:09:12.652-05:00Home for Sale: Detroit: 19502 Whitcomb - $60,500<b>19502 Whitcomb, Detroit MI 48235 home for sale.</b><br />
<br />
5 Bedrooms - 1 Bathroom - Available for just $60,500<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgHqIWLGugZal-lMwNHwNwDfyLW_Xm1oXlVWQ2O3QZmkSgkIyXtk98f8xkOgm7GLDJd_3P1WivwYg7Z2tooq_SlhLhkAN0LGRirqEjstviodveBd-Lj5xxLHoi7iQA_ZiDmu4oWPELUHxaO/s1600/Image-Whitcomb+19502-Front+20130829.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgHqIWLGugZal-lMwNHwNwDfyLW_Xm1oXlVWQ2O3QZmkSgkIyXtk98f8xkOgm7GLDJd_3P1WivwYg7Z2tooq_SlhLhkAN0LGRirqEjstviodveBd-Lj5xxLHoi7iQA_ZiDmu4oWPELUHxaO/s320/Image-Whitcomb+19502-Front+20130829.JPG" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAwSIVNoTVfee7TQAFVHhYt1EnRyQHikTjVIFoOUaClvFv6noxJXKwznkX_fhV5GCyfv6DFegGMEMTpQycUwpTkgQFrVv_mZ5n-keFvNetZB71-Et2xK9mlaH6vj7yqEkzKWR83rAIqKL1/s1600/Image-Lauder+18964-Front+20131030.JPG" style="margin-left: 1em; margin-right: 1em;"></a></div>
<br />
A nice bungalow home on a nice block with other nice homes.<br />
<br />
Below is a video tour of this great starter home:<br />
<br />
<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/kWmH2n1oJNc" width="420"></iframe></div>
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Contact Conquest Real Estate Group at (248) 569-1486 to inquire.</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com1tag:blogger.com,1999:blog-153632829034666936.post-54953859101523129472013-11-10T11:28:00.005-05:002013-11-10T12:10:49.240-05:00Home for Sale: Detroit: 14314 Mansfield - $60,500<b>14314 Mansfield, Detroit MI 48227 home for sale.</b><br />
<br />
4 Bedrooms - 2 Bathrooms - Available for just $60,500<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimQ6P6z5pPwJbmShLSYlCw2TJeVu7yl2-j2pScXc5cYEs2G7vX6HUEmnNWFKIwhlWml-DWNFT3ogogShicRtUrPhzmY9dQ1Vw-dDNzaA8DGthJBPuLRJmpBXbHB4dCv77uvhAGgh5lavQp/s1600/Image-Detroit-Mansfield+14314-Front+20130825.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimQ6P6z5pPwJbmShLSYlCw2TJeVu7yl2-j2pScXc5cYEs2G7vX6HUEmnNWFKIwhlWml-DWNFT3ogogShicRtUrPhzmY9dQ1Vw-dDNzaA8DGthJBPuLRJmpBXbHB4dCv77uvhAGgh5lavQp/s320/Image-Detroit-Mansfield+14314-Front+20130825.jpg" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAwSIVNoTVfee7TQAFVHhYt1EnRyQHikTjVIFoOUaClvFv6noxJXKwznkX_fhV5GCyfv6DFegGMEMTpQycUwpTkgQFrVv_mZ5n-keFvNetZB71-Et2xK9mlaH6vj7yqEkzKWR83rAIqKL1/s1600/Image-Lauder+18964-Front+20131030.JPG" style="margin-left: 1em; margin-right: 1em;"></a></div>
<br />
A classic looking brick bungalow home on a nice block with other nice homes.<br />
<br />
Below is a video tour of this charming bungalow:<br />
<br />
<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/FsWrsFf5fPM" width="420"></iframe></div>
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Contact Conquest Real Estate Group at (248) 569-1486 to inquire.</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-39978281455819422182013-11-10T11:21:00.000-05:002013-11-10T12:24:01.216-05:00What Is An Earnest Money Deposit?<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">An earnest
money deposit, as it is applied towards real estate transactions, is the
tendering of a sum of money to substantiate that an offer to purchase was made
in good faith.<span style="mso-spacerun: yes;"> </span>The amount is based upon
the total purchase price and usually averages about two to three percent, but
can be as high as five percent.<o:p></o:p></span></span><br />
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">The earnest
money deposit is almost always held in escrow by a realtor or an attorney. If
the transaction fails, both parties have to agree on the disbursement of the
funds before they are released.</span></span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">If there is no agreement, litigation will have
to follow. Normally if the negotiations stall in the early stages of the sale,
and it is clear no closing will be held, the deposit will be returned to the
purchaser. On the other hand, if there has been much work done by the seller,
or if the buyer reneges on his agreement to buy, the deposit might be given to
the seller.<o:p></o:p> </span></span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">The purpose
of an earnest money deposit is to show good faith on the part of the offeror.
In the past unscrupulous prospective purchasers would<span style="mso-spacerun: yes;"> </span>make several simultaneous offers on various
parcels of property while intending to buy only the one where he obtained the
best result.</span></span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">The effect of this method was to constrain the losing sellers from
negotiating with others who were truly interested in purchasing their property,
but they were prevented from doing so because they signed an acceptance from
the unscrupulous offer-or. Of course, in such an instance the seller could sue
for specific performance of the contract, but that could involve expensive
litigation which might take years to complete.<o:p></o:p> </span></span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">The
historical development of tendering an earnest money deposit to prove good
faith on the part of the purchaser has resulted in an acceptable way to protect
sellers and facilitate the completion of real estate transactions.</span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"></span></span><br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><o:p><br /></o:p></span></span>
<div style="text-align: center;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><o:p><span style="color: red;"><b>Call Conquest Real Estate to Learn More: (248) 569-1486</b></span></o:p></span></span></div>
</div>
Commercial Electrical Serviceshttp://www.blogger.com/profile/15786007253324812755noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-88058402111401664492013-11-10T11:02:00.001-05:002013-11-10T12:20:11.693-05:00Need a house and can’t get a traditional mortgage?If you are like 90% of America it is difficult to get a
mortgage. And if you’re like me you are tired of paying rent and getting
nowhere. The problem is saving up the 20% down for a down payment is just about
impossible.<br />
<br />
Over the last four years you
have watched the price of everything in life increase but income keeps getting
cut and at the end of the month there is no extra money to save. To make down
payment on a house at twenty percent on the average house you would need about
$10,000. So you’re stuck renting and never getting where you want to be.<br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
However if you could just save 3.5% you might have a chance.
That is because the FHA (Federal Housing Administration) is willing to help
people like us. They offer a low down payment loans for first time home buyers
to purchase a home and beat the vicious cycle of paying rent and being stuck somewhere
you don’t like to be. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The FHA home loan program is designed to help lower income Americans
and those that can’t obtain a traditional mortgage because of their financial situation.
Whereas with a traditional mortgage at a bank one must have 20% down and the
home must pass a inspection for financing a FHA loan will allow you to finance
the repairs to make a fixer-upper <span style="color: red;">finance-able</span> and you can roll the cost into
the loan with a low down payment.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Unlike traditional banks the FHA Loans program will also
allow someone to finance a mobile home or a modular home rather it is in a
mobile home park or on property. The FHA Loans will also help finance energy upgrades
to a old home. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
With this information a person who saves up $3500.00 and has
the proper credit rating could purchase a $100,000 home.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Maybe there is hope.<br />
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Call Conquest Real Estate Now to Learn More: (248) 569-1486</b></span> </div>
</div>
NCF SERVICEShttp://www.blogger.com/profile/03346484143823652028noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-29463899969950600522013-11-10T10:22:00.001-05:002013-11-10T12:13:35.385-05:00Home for Sale: Detroit: 18066 Indiana - $59,500<b>18066 Indiana, Detroit MI 48221 home for sale.</b><br />
<br />
3 Bedrooms - 1.5 Bathrooms - Available for just $59,500<br />
<br />
1 1/2 Baths Upstairs + 1/2 Bath Main Level and another Nice, Full Bath in the Basement - <br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC6fHBt70MMtvRLVKcm9FJPSXWxLME2x3-gBa83EIM-EsFrw_xID9WkAxIE17n0toepHf3Av_TXPc_pAxcM_72X3a-anPhG2gVK-J_4CiFnPZfYu9cy0gTo9UGYdi3zVHSQg8hi2rw3OnV/s1600/Image-Indiana+18066-Front+20131102.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC6fHBt70MMtvRLVKcm9FJPSXWxLME2x3-gBa83EIM-EsFrw_xID9WkAxIE17n0toepHf3Av_TXPc_pAxcM_72X3a-anPhG2gVK-J_4CiFnPZfYu9cy0gTo9UGYdi3zVHSQg8hi2rw3OnV/s320/Image-Indiana+18066-Front+20131102.JPG" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAwSIVNoTVfee7TQAFVHhYt1EnRyQHikTjVIFoOUaClvFv6noxJXKwznkX_fhV5GCyfv6DFegGMEMTpQycUwpTkgQFrVv_mZ5n-keFvNetZB71-Et2xK9mlaH6vj7yqEkzKWR83rAIqKL1/s1600/Image-Lauder+18964-Front+20131030.JPG" style="margin-left: 1em; margin-right: 1em;"></a></div>
<br />
A spacious colonial home on a nice block with other nice homes.<br />
<br />
Below is a video tour of this spacious colonial home:<br />
<br />
<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/vGQus_-UUaQ" width="560"></iframe></div>
<br />
<br />
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Contact Conquest Real Estate Group at (248) 569-1486 to inquire.</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-45438137499001188962013-11-06T13:50:00.005-05:002013-11-06T13:51:08.745-05:00What is an escrow account?Many home equity loans will be set up with escrow accounts. Funds are collected as part of your monthly mortgage payment and deposited in your escrow accounts. Payments for real estate taxes and homeowners insurance will be made automatically on your behalf by the lender. This ensures that your bills are paid in full and on time, without you having to budget for these large payments separately.
<br />
<br />
<b>How is my monthly escrow amount determined?
</b><br />
<br />
Escrow payments are typically determined in the following manner:
<br />
<br />
1. Estimate your real estate tax and homeowners insurance bills amount for the next 12 months for. The estimate is based on information from your loan closing documents, your taxing authority and insurance company, or your previous tax and insurance bills.
<br />
<br />
2. Divide the estimated amount by 12 and add the result to your monthly payment.
<br />
<br />
3. Determine whether any adjustments, such as shortage payments, are necessary to keep your escrow account in balance.
<br />
<br />
Escrow analysis will be done annually and your mortgage payment may change due to the calculation. For example if taxes are increase in your municipality, this will result in an increased monthly payment so that the lender will have the funds to pay the taxes.
<br />
<br />
<b>Why does my account require a minimum balance, and how do you determine the amount?
</b><br />
<br />
A minimum balance helps ensure that if taxes or insurance premiums increase, your account can cover them without ending up with a large shortage. Minimum balance requirements are governed by federal law, or by your loan contract and applicable state law. The minimum balance is equal to two months of escrow payments (not including mortgage insurance), unless state law or your loan contract requires a lesser amount.
<br />
<br />
<b>Do I need to send my lender my real estate tax bill each time it’s due?
</b><br />
<br />
Real estate tax information is usually directly received from the taxing authority.
<br />
<br />
<b>Does my escrow account earn interest?
</b><br />
<br />
No interest is earned on the funds in your account.
<br />
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Call Conquest Real Estate to Learn More (248) 569-1486</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-62526487068692713092013-11-06T13:47:00.000-05:002013-11-09T21:13:02.909-05:00What is PMI and why do I need it?<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">If
your down payment on a home is less than 20 percent of the appraised value or
sale price, your lender will require you to get private mortgage insurance
(PMI). PMI is an insurance policy to offset
losses in the case where you are not able to repay the loan and the lender is
not able to recover its costs after foreclosure and sale of the mortgaged
property.<span style="mso-spacerun: yes;"> </span>As a borrower, you pay
the premiums, and the lender is the beneficiary.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">PMI
fees vary, depending on the size of the down payment and the loan and your
credit score, from around 0.3 percent to 1.15 percent of the original loan
amount per year. Mortgage insurance premiums are tax-deductible through 2013,
and it is possible that Congress could extend deductibility longer than that.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<h2 style="line-height: normal; margin-top: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Example</span></h2>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Let's
say you buy a $100,000 house and make a 10 percent down payment of $10,000,
borrowing $90,000. The mortgage insurer charges an annual premium of 0.49
percent. The insurer multiplies the loan amount by 0.0049, for an annual
premium of $441.00, which is divided into 12 monthly payments of $36.75.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<h2 style="line-height: normal; margin-top: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Tip</span></h2>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Once you've made </span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">enough payments<span class="apple-converted-space"> </span>to boost your equity to 20 percent of the original
purchase price, you can ask your lender to cancel PMI. By law, the lender must
cancel private mortgage insurance at this point as long as you have a history
of on-time payments, you can establish that the property value has not declined
and there is not a subordinate lien, such as a home equity loan. Lenders
must automatically cancel PMI when the balance hits 78 percent.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Some FHA loans
require payment of mortgage insurance premiums for the life of the loan.</span><br />
<br />
<div style="text-align: center;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><b>Call Conquest Real Estate to Learn More (248) 569-1486</b> </span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-67170147795365331272013-11-04T11:54:00.001-05:002013-11-14T14:51:24.578-05:00Home for Sale: Detroit: 18964 Lauder - $54,500<b>18964 Lauder, Detroit MI 48235 home for sale.</b><br />
<br />
4 Bedrooms - 1.5 Bathrooms - Available for just $54,000<br />
<br />
<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/pAxCJoaJioE" width="560"></iframe></div>
<br />
1 1/2 Baths and another Nice, Full Bath in the Basement - <br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAwSIVNoTVfee7TQAFVHhYt1EnRyQHikTjVIFoOUaClvFv6noxJXKwznkX_fhV5GCyfv6DFegGMEMTpQycUwpTkgQFrVv_mZ5n-keFvNetZB71-Et2xK9mlaH6vj7yqEkzKWR83rAIqKL1/s1600/Image-Lauder+18964-Front+20131030.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAwSIVNoTVfee7TQAFVHhYt1EnRyQHikTjVIFoOUaClvFv6noxJXKwznkX_fhV5GCyfv6DFegGMEMTpQycUwpTkgQFrVv_mZ5n-keFvNetZB71-Et2xK9mlaH6vj7yqEkzKWR83rAIqKL1/s320/Image-Lauder+18964-Front+20131030.JPG" width="320" /></a></div>
<br />
A classic looking colonial home on a nice block with other nice homes.<br />
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Contact Conquest Real Estate Group at (248) 569-1486 to inquire.</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-66628538493289040352013-11-04T11:49:00.000-05:002013-11-04T11:59:32.586-05:00Home for Sale: Detroit: 17592 Wisconsin - $54,500<b>17592 Wisconsin, Detroit MI 48221 home for sale.</b><br />
<br />
3 Bedrooms - 1.5 Bathrooms - Available for just $54,000<br />
<br />
HUGE Bedrooms in here - A beautiful home available in the Bagley Neighborhood of Detroit.<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEii0y4aijwkKDRcB47Jy69reoaexXK3-1hMi3tOG0cFJfbYQuBF8cCLCN15tgAYUdXI0JAayO2DvbMBX53b30v1jE33cC6tYi8XkpfcEpzHbPjnFfA_-BejnIfa0MRJjiBP6c3kdam2IkQ9/s1600/Image-Wisconsin+17592-Front+20131030.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEii0y4aijwkKDRcB47Jy69reoaexXK3-1hMi3tOG0cFJfbYQuBF8cCLCN15tgAYUdXI0JAayO2DvbMBX53b30v1jE33cC6tYi8XkpfcEpzHbPjnFfA_-BejnIfa0MRJjiBP6c3kdam2IkQ9/s320/Image-Wisconsin+17592-Front+20131030.JPG" width="320" /></a></div>
<div style="text-align: center;">
<br /></div>
<br />
A colonial home with a complex roof line offers unique visual elements to this home.<br />
<br />
<div style="text-align: center;">
<span style="color: red;"><b>Contact Conquest Real Estate Group at (248) 569-1486 to inquire.</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-4267909905558209622013-11-03T16:13:00.000-05:002013-11-04T10:12:25.932-05:00What should a gifting letter to buy a home include?<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">What does a gifting letter to help us buy a home need to have? </span></span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">When we need to make a down payment on a home we want to buy, we might need some additional help. Someone close to us might notice and offer to help with the down payment in the form a gift.</span></span><br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><br /></span></span>
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">However, they might not want to just simply give us the money...for any number of reasons. So they might write up something called a gifting letter, which helps contribute toward a down payment of a home. This gifting letter will be extremely helpful while applying for a home mortgage.</span></span><br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><br /></span></span>
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;"><b>Key Question: What needs to be IN this Gifting Letter?</b></span></span><br />
<br />
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">The many
centuries old common law definition for a legal gift was simple. Three elements were
necessary:<o:p></o:p></span></span><br />
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">1. Intention
to make a gift by the grantor (or donor);<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">2. Delivery
of the gift;<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">3.
Acceptance of the gift by the grantee (or donee).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">The elements
creating a valid gift to people applying for a mortgage are slightly more
complex. First, it must be understood that the donor of the gift has no vested
interest in the purchase of the property. This normally would include a seller,
builder, or broker. Secondly, not everyone can make such a gift. In most
situations lending institutions will approve gifts only from close relatives
such as parents, siblings and grandparents. Also approved donors will be
employers, labor unions, charities, and government agencies.<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">The basic
elements of a gifting letter which will satisfy most lenders are as follows:<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">l. Date of
the letter;<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">2. Name,
address and telephone number of donor;<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">3.
Relationship of donor;<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">4. Amount of
the gift;<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">5. A short
statement attesting to the fact that the gift has no requirement of repayment;<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">6. When the
gift was given;<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">7. Source of
the gift (e.g., bank funds via check, wire transfer, sale of stock, etc.);<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">8. Signature
of donor(s) and donee(s).<o:p></o:p></span></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">Often banks
ask for documentation pertaining to some of the above elements. For example,
they might want to see a copy of the check itself and the deposit slip from the
donee’s bank proving the exact amount and date of the deposit. All requests from
the lending institution should be honored in an expeditious fashion.<o:p></o:p></span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<span style="font-size: 12pt; line-height: 115%;"><span style="font-family: Calibri;">It is of
paramount importance to stress that all facts stated in the letter are
truthful. For example, there cannot be an ancillary agreement to provide
repayment to the donor, even many years in the future. Any false statement
would constitute mortgage fraud where heavy fines and prison term are possible.</span></span></div>
Commercial Electrical Serviceshttp://www.blogger.com/profile/15786007253324812755noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-62486719272432794442013-10-30T09:41:00.000-04:002013-11-20T16:09:59.370-05:00Did you know you can use your Individual Development Account (IDA) to buy a house?<div class="MsoNormal">
Have you ever heard of an Individual Development Account to
buy a house? The state of Michigan has a program for individuals trying to buy
a home, go to college or start a small business that will match funds so you
may better yourself.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
IDAs (Individual Development Accounts) are designed to
increase savings and investments for the people who are struggling to get ahead
and better themselves. Just like a GI bill helps veterans to acquire a home the
IDA is a tool that can help low-income citizens strive toward their dream of being
home owners, entrepreneurs, or to better one’s education.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
I learned about the program and registered. When I had
completed the program and had saved up my thousand dollars they matched my
funds 3 to 1. That gave me four thousand dollars for down payment. </div>
<div class="MsoNormal">
<br />
After shopping around in the mortgage market I was able to
find a mortgage company that would work with my finances and approve me for a
home loan at ten percent down. I was able to purchase my forty thousand dollars
home for an out of pocket expense of one thousand dollars.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
With a little help from the IDA program I was able to break
the endless cycles of paying rent and now have an investment that someday will
be mine. I never again have to worry about rent going up because my payment is
the same for the next thirty years. Plus the value f my home is increasing as I
update it.</div>
<div class="MsoNormal">
<br />
Now that I have made some improvements on my home I am
living in a three bedroom one bath ranch worth seventy two thousand dollars for
just a few thousand dollars of my money.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
I had a little bit of work into getting registered into to
the program and it took time to save up the money, but I could never have made this
happen without the help of an IDA (Individual Development Account).</div>
NCF SERVICEShttp://www.blogger.com/profile/03346484143823652028noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-26496072126014315562013-10-29T15:42:00.003-04:002013-11-20T16:04:57.493-05:00When is a "Gifting Letter" needed while applying for a mortgage?<span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: Calibri;">Since the financial
meltdown of 2008, it is far more difficult to obtain a home mortgage loan.
Recent estimates are that twenty-five percent of all first time buyers do not
have sufficient funds in order to qualify for a loan, and seek other sources.
With interest rates for a conventional loan at twenty percent (somewhat less
for FHA loans) many first time buyers turn to family members for financial
assistance for help with the down payment.</span></span><br />
<br />
<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/pR4Y-Pay9ss" width="560"></iframe></div>
<br />
<span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: Calibri;">Lending institutions
scrutinize monetary gifts from others very closely. They must be certain that
the gift is not actually a hidden loan which could imperil the borrower’s
ability to make the payments on the primary mortgage. It is extremely important
to understand that full disclosure pertaining to the gift must be given to the
lender, or questions of mortgage fraud could surface. Therefore, the answer to
the main question posed in this article is as follows: Always disclose a gift
from others when it is used for the purpose of making a down payment on the
purchase of a home.<o:p></o:p> </span></span><br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<br />
<span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: Calibri;">Lending institutions
look askance at gifts from others who do not have a close familial
relationship. Monetary donations from long-time friends, co-workers, neighbors,
and distant cousins normally are scrutinized and often disallowed. Gifts from
parents, grandparents, brothers or sisters are not as problematic.<o:p></o:p> </span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<br />
<span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: Calibri;">The bank will want to
see documentation, so both the donor and donee will need to show financial
records tracing the transaction directly from the donor’s account to that of
the donee. Furthermore, the amount of the gift should not be changed during the
entire process.<o:p></o:p> </span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<br />
<span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: Calibri;">There could be gift tax
implications, but there are legal ways of ameliorating the amount. For example,
if a newlywed husband and wife are the borrowers, then the individual parents
of one of them can make separate gifts to each of them for a total of four
gifts. It would be wise to consult with a tax attorney or a certified public
accountant when a gift is being made.<o:p></o:p> </span></span></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<br />
<span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="font-family: Calibri;">For an excellent article
on gifting letters visit: <span style="mso-spacerun: yes;"> </span></span><a href="http://www.fhmtg.com/download/GiftLetterInstructions.pdf"><span style="color: blue; font-family: Calibri;">http://www.fhmtg.com/download/GiftLetterInstructions.pdf</span></a><span style="font-family: Calibri;">
<o:p></o:p></span></span></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
</div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
</div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
</div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
</div>
Commercial Electrical Serviceshttp://www.blogger.com/profile/15786007253324812755noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-81754201441265857922013-10-29T15:24:00.000-04:002013-11-17T19:38:31.956-05:00What is Title Insurance, and why do people need it?<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">One
of the expenses to buying a home is title insurance.<span style="mso-spacerun: yes;"> </span>A home buyer purchases title insurance
(Owner’s policy) to protect the most important investment he or she will ever
make, a new home.<span style="mso-spacerun: yes;"> </span>Title insurance is an
indemnity contract issued by a title company that will reimburse the homeowner
for a loss in the event someone asserts a claim against your property that is
covered by the policy.</span><br />
<br />
<div style="text-align: center;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/aUYgy-aUi9Q" width="560"></iframe> </span></div>
</div>
<br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Title
insurance costs vary depending on the value of the property but typically the
homeowner will pay less than $1,000 for a $100,000 property.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; letter-spacing: .85pt; mso-fareast-font-family: "Times New Roman";">Why
is this necessary? </span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Title
insurance is issued after a careful examination of copies of the public
records. But even the most thorough search cannot absolutely assure that no
title hazards are present.<span style="mso-spacerun: yes;"> </span>Title
problems may exist that cannot be disclosed in a search in addition to matters
shown by public records.<span style="mso-spacerun: yes;"> </span>For example,
the following are a few common hidden risks that can cause a loss of title or
create an encumbrance on title:</span></div>
<ul>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Liens
for unpaid estate, inheritance, income or gift taxes</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">False
impersonation of the true owner of the property</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Forged
deed, releases or wills, Instruments executed under invalid or expired power of
attorney;</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Undisclosed
or missing heirs</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Mistakes
in recording legal documents </span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Misinterpretations
of wills </span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Deeds
by minors</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Deeds
by persons supposedly single, but in fact married</span></li>
<li><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Fraud</span></li>
</ul>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; letter-spacing: .85pt; mso-fareast-font-family: "Times New Roman";">What
protection does title insurance provide?</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; letter-spacing: .85pt; mso-fareast-font-family: "Times New Roman";"><br />
</span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Title
insurance will pay for defending against any lawsuit attacking the homeowner’s title
as insured, and will either clear up title problems or pay the insured's
losses. For a one-time premium, an owner's title insurance policy remains in
effect as long as you, or your heirs, retain an interest in the property.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; letter-spacing: .85pt; mso-fareast-font-family: "Times New Roman";">How
long does a Title Insurance policy last?</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Owner’s
title insurance lasts as long as you, the policyholder – or your heirs – has an
interest in the insured property. This may even be after you have sold the
property.</span></div>
<br />
by Kevin Turner Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-28773072262932845212013-10-29T15:21:00.001-04:002013-11-16T10:48:47.305-05:00What is a Title Check or a Title Search?<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">How
do you know that the seller really owns the property he or she is offering to
sell?<span style="mso-spacerun: yes;"> </span>That’s one reason when you decide
to buy a home, your lender will probably require that a title search is
performed.<span style="mso-spacerun: yes;"> </span>A title is
a legal term for a collection of rights in a piece
of property and refers to a formal document such as a deed that
serves as evidence of ownership.</span><br />
<br />
<div style="text-align: center;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/w3txb09P22k" width="560"></iframe> </span></div>
</div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Delivery
of the deed may be required in order to transfer ownership in the property to
another person. Title is distinct from possession, a right that
often accompanies ownership but is not necessarily sufficient to prove it. For
real property, like a home purchase, land registration and recording provide
public notice of ownership information.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">A
title search is the examination of public records to determine and confirm a
property’s legal ownership and to find any claims that may have been made to
the property.<span style="mso-spacerun: yes;"> </span>The title company or an
attorney will search all public land records going back many years.<span style="mso-spacerun: yes;"> </span>It is estimated that over a third of all
title searches reveal a title problem that are fixed before the closing
occurs.<span style="mso-spacerun: yes;"> </span>Some of these include Mechanics
Liens and Mortgage Releases.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Mechanics Liens</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">When
a home is constructed or remodeling occurs, the general contractor is
responsible for paying off their subcontractors. If this is not done in a
timely manner, the subs can file mechanics liens to protect their
interests. These can remain on the property even after they are paid if the sub
does not take the time to file a lien release with the county clerk.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Mortgage
Releases</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">During
the refinance boom of 2000 – 2005, homeowners repeatedly refinanced at a
furious pace, sometimes more than once annually. Each time a mortgage is
“refinanced”, the mechanics of the transaction are actually a new mortgage
which pays off an old one. The prior mortgage company is supposed to record a
mortgage release clearing the old loan from the title. These require a trip to
the land records office and a filing fee to be paid by the mortgage company.
Some mortgage lenders did not always record releases on every mortgage paid
off, (to save money, time, or just due to excessive volume) leaving homeowners
with double mortgages on title.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">In
spite of all the expertise and dedication that go into a title search and
examination, hidden hazards can emerge after closing, resulting in unpleasant
and costly surprises. <span style="mso-spacerun: yes;"> </span>With title
insurance, the home owner is covered from loss.<span style="mso-spacerun: yes;">
</span>Some examples of hazards include:</span><br />
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<br />
<ul>
<li><span style="mso-bidi-font-size: 12.0pt;">A forged signature
on the deed, which would mean no transfer of ownership to you;</span></li>
<li><span style="mso-bidi-font-size: 12.0pt;">An unknown heir of a
previous owner who is claiming ownership of the property;</span></li>
<li><span style="mso-bidi-font-size: 12.0pt;">Instruments executed
under an expired or a fabricated power of attorney; or</span></li>
<li>
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Mistakes in the public records.</span></li>
</ul>
<br /></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-60631429479137454422013-10-29T14:43:00.000-04:002013-11-14T09:21:00.126-05:00Things Every Home Buyer Should Know<div class="MsoNormal">
Not everyone has a lot of experience buying and selling real
estate.<span style="mso-spacerun: yes;"> </span>However, there are some things
that every home buyer should know about the real estate purchasing process.<br />
<br />
<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/BAdvvzNnwJw" width="560"></iframe></div>
</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">You will probably need
to have a minimum a certain credit score.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Your credit is extremely important.<span style="mso-spacerun: yes;"> </span>At the time this is being written, most
lenders want you to have a credit score of 620 or higher.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">Do not buy anything
during the loan process with your credit (i.e. Do not borrow).</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Your loan approval depends upon the amount of money you are
borrowing, and if you change the amount you borrow, you affect calculations
that potential lenders use to determine whether they want to risk lending to
you. By borrowing—or even applying for additional non-housing loans—during the home
loan application process, it will disrupt (slow down) your mortgage loan
process.<span style="mso-spacerun: yes;"> </span>It might even entirely STOP the
mortgage loan process.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">You probably should
get Title Insurance.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Title Insurance is simply protection against any properly
loss or damage caused by pending liens, existing defects within the Title to
the Property.<span style="mso-spacerun: yes;"> </span>Examples of existing property
title defects are other claims of ownership to the property (besides you),
fraud, forgery, etc.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">Set aside money for property
closing costs.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Before you officially buy a property, there will be a closing.<span style="mso-spacerun: yes;"> </span>You may or may not need to be there, but
there will be a closing.<span style="mso-spacerun: yes;"> </span>There are costs
associated with this closing process that too many people are not prepared to
pay.<span style="mso-spacerun: yes;"> </span>Examples of closing costs are
closing fees, prorated property taxes that were pre-paid by the previous property
owner, property recording fees, transaction fees, transfer fees, etc.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">Set aside money to
pay for home owners insurance in advance for one year.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Lenders will require that you buy home owners insurance to
cover the cost of a catastrophe to your home.<span style="mso-spacerun: yes;">
</span>You never want to “need” to make that type of insurance claim, but if
you own a mortgage on a home that is in disarray, you are in position to cover
the amount you borrowed in the event that catastrophe happens.<span style="mso-spacerun: yes;"> </span>Not only will this will protect the lender’s
investment, but also it will your credit.<span style="mso-spacerun: yes;">
</span>Be aware that you will need to set aside money to pay for this in
advance.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">Your best home loan
interest rate is based on your credit, but you still should shop around.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Your credit score definitely plays a large role in determining
how high or low your interest will be on your home loan.<span style="mso-spacerun: yes;"> </span>Mortgage rates vary, though, and you should check
several different loan sources to find the best mortgage interest rate for
you.<span style="mso-spacerun: yes;"> </span>Places you might check for competing
loan rates are banks, credit unions, or mortgage brokers.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">You need to have a
savings account, and you cannot have touched that money for 3 months.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Actually, you can add to your savings account, but you
cannot let your savings balance fall below that amount you report on your
mortgage loan applications—not during the period between applying for the loan
and closing on your new home.<span style="mso-spacerun: yes;"> </span>You also
cannot have dropped below that reported savings level for the three (3) months
prior to applying for that loan.<span style="mso-spacerun: yes;"> </span>Lenders
want to know that your savings balance is not a fluke while you were on your “best
behavior” but rather a solid reflection of you being dependable.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">If you receive a gift
that helps you buy a home, you will need to provide several forms of proof.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
If you will be receiving a gift to help you afford to buy
your home, you will need to prove (a) the money gift came (or will be coming)
from a relative, and you will need to provide proof of the source of that
gift.<span style="mso-spacerun: yes;"> </span>You will need to be able to
provide documentation of that proof.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">You don’t just need
to make your mortgage payment.<span style="mso-spacerun: yes;"> </span>You need to
budget for your property taxes, too.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
It is important to find how much you will need to pay each
year for property taxes for your new home.<span style="mso-spacerun: yes;">
</span>Then you need to break down that into a monthly amount.<span style="mso-spacerun: yes;"> </span>If you do not do this, you will be expected
to pay a large bill that you may not be prepared to pay.<span style="mso-spacerun: yes;"> </span>For example, if your annual property taxes are
$4800 per year, then you will need to set aside $400/month in addition to your
mortgage payment.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
This will help you understand whether you REALLY can afford
your new home.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;">Take time to know
your new area before buying a home.</b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
By “knowing your area,” there are several things you might
want to check in advance of buying your new home.<span style="mso-spacerun: yes;"> </span>Visit the neighborhood during the day and at
night.<span style="mso-spacerun: yes;"> </span>Check out the schools, shopping,
block clubs, neighborhood patrol, and even which utility companies cover your
new area.<span style="mso-spacerun: yes;"> </span>Finding out this info in
advance might save you from buying the wrong property, only for you to figure piece
that too late.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Buying a home is not an easy process, but with the experts
at Conquest Real Estate Group, you can have a great chance of preparing to give
yourself the best chance of qualifying for a mortgage to get that right home
you deserve for you and your family.<span style="mso-spacerun: yes;">
</span>Call now to learn more or visit <a href="http://conquestrealestategroup.blogspot.com/p/first-time-home-buyer-event.html">http://conquestrealestategroup.blogspot.com/p/first-time-home-buyer-event.html</a>
to learn about the next home buyer educational seminar and get more tips.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="text-align: center;">
<span style="color: red;"><b>Call Conquest Real Estate Group for More Info (248) 569-1486</b></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-43649555382812758752013-10-24T14:34:00.000-04:002013-11-20T15:27:56.940-05:00Mortgages for People with Disabilities: Community HomeChoice Mortgage<div style="margin: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Federal National Mortgage
Association (Fannie Mae) designed the <b>Community HomeChoice mortgage</b>
product for people with disabilities or with family members who have
disabilities who have low to moderate income.
This is a single family mortage loan program. The program
offers flexibility in terms of loan-to-value, credit history, down payment sources and qualifying
ratios.</span></span></div>
<div style="margin: 0in;">
<div style="text-align: center;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><iframe allowfullscreen="" frameborder="0" height="315" src="//www.youtube.com/embed/087dLG7HwV0" width="560"></iframe></span></span></div>
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">The
process of obtaining a mortgage through the program can be overwhelming. Many lenders work with organizations that
serve people with disabilities. Contact a
housing counselor at the Detroit Public Housing Commission by calling (313)
887-8000 or visiting 1301 E. Jefferson, Detroit MI. Someone may be able to assist with the
application process.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">The
following are key components of the Community HomeChoice mortgage product.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><b>Who is Eligible?</b></span></span><br />
<br />
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Any
low- or moderate-income person defined as handicapped by the <a href="http://portal.hud.gov/hudportal/HUD?src=/program_offices/fair_housing_equal_opp/FHLaws/yourrights"><span style="color: windowtext;">Fair Housing Amendment Act</span></a> is eligible for
the Community HomeChoice mortgage.<b> </b>People with disabilities must:</span></span></div>
<ul>
<li><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">self-identify
according to the definition of disability or</span></span></li>
<li><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">prove
your source of income is consistent with having a disability</span></span></li>
</ul>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><b>Income</b></span></span></div>
<br />
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">The
borrower must have a history of receiving regular income from employment or
other sources and that there is an expectation that the income will continue,
generally at least 3 years. </span></span><br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">An
eligible borrower’s income may not exceed 115 percent of the area median income
(AMI) where the property is located.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><b>Co-borrowers</b></span></span><br />
<br />
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">All
co-borrowers must sign the note. In
determining eligibility for a mortgage, the combined incomes of occupant
co-borrowers may not exceed the AMI, except as described above. When a traditional or nontraditional credit
profile cannot be developed for an occupant co-borrower, up to 30 percent of
the total qualifying income can be used toward the mortgage payment.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">An
occupant co-borrower does need not be related to the disabled borrower.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">A non-occupant
co-borrower may be part of the transaction, provided the occupant co-borrower
is a disabled person who meets the income restrictions, and the non-occupant
co-borrower is a family member or legal guardian.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><b>Down Payment</b></span></span></div>
<br />
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">The
minimum down payment is three percent based on the lesser of the sale price or
appraised value. At least $5,000 must
come from the borrower’s own funds. The
balance of the down payment may come from grants, gifts or grant-like
subordinate financing.</span></span><br />
<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><b>Eligible Mortgages</b></span></span></div>
<br />
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><span style="line-height: 115%;">Fannie Mae accepts 30
years or less fixed-rate, fully amortizing, level payment mortgages, 7/1 ARMs
and negotiated 10/1 ARMs. There is no minimum loan amount, and the maximum loan
amount is Fannie Mae’s standard conforming loan limit.</span></span></span><br />
<br /><div style="text-align: center;">
<span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><span style="color: red;"><b>Call Conquest Real Estate Group at (248) 569-1486 for More Info</b></span></span></span></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-49180918208785696592013-10-21T17:28:00.004-04:002013-10-21T17:28:53.218-04:00Warrendale - Detroit Neighborhood - Zip Code 48228Warrendale is a neighborhood in the Detroit, Michigan 48228 Zip Code.<br />
<br />
<div style="text-align: center;">
<iframe frameborder="0" height="300" marginheight="0" marginwidth="0" scrolling="no" src="https://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Warrendale,+Detroit,+MI&aq=0&oq=warrendale&sll=42.339006,-83.226242&sspn=0.039335,0.077162&gl=us&ie=UTF8&hq=&hnear=Warrendale,+Detroit,+Wayne,+Michigan&t=m&ll=42.339006,-83.226242&spn=0.019033,0.025663&z=14&iwloc=A&output=embed" width="300"></iframe><br />
<small><a href="https://maps.google.com/maps?f=q&source=embed&hl=en&geocode=&q=Warrendale,+Detroit,+MI&aq=0&oq=warrendale&sll=42.339006,-83.226242&sspn=0.039335,0.077162&gl=us&ie=UTF8&hq=&hnear=Warrendale,+Detroit,+Wayne,+Michigan&t=m&ll=42.339006,-83.226242&spn=0.019033,0.025663&z=14&iwloc=A" style="color: blue; text-align: left;">View Larger Map</a></small></div>
<br />
M-39 (Southfield Fwy) and Joy Road provide one corner of borders of this Detroit
neighborhood. The other borders are not as straight, but Warren Avenue, Tireman, and Evergreen Rd run through this Detroit neighborhood. Some parts reach as far south as Ford Road (M-153).<br />
<br />
Warrendale sits just beside the Franklin Park and Grandale
neighborhoods and borders the suburb of Dearborn.<br />
<br />
Most homes in the Warrendale are smaller frame (aluminum siding) ranches and bungalows.<br />
<br />
Later, pictures of homes will be added to this post and possibly a video.<br />
<br />
<div style="text-align: center;">
<a href="http://conquestrealestategroup.blogspot.com/"><span style="color: red;"><b>Return to Conquest Real Estate Group Blog Home Page</b></span></a></div>
Anonymoushttp://www.blogger.com/profile/14623679735663169535noreply@blogger.com0tag:blogger.com,1999:blog-153632829034666936.post-90782376346678449232013-10-21T12:51:00.000-04:002013-11-20T15:38:04.432-05:00Homeownership Vouchers thorugh the Public Housing Authority<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">What are homeownership vouchers? </span></span><br />
<div class="MsoNormal">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">I just learned about a great program offered to first time
home buyers. It is called homeownership vouchers. </span></span></div>
<div class="MsoNormal">
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">I really need a house for my family and have been trying every
way possible to buy one, but I do not make enough money to get financing for the
home we need. So I went on line and started looking at government programs to
help me buy a house. They help me rent so I wanted to know if they would help
me to buy. That is when I found out about the Homeownership Voucher Program. </span></span></div>
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">Homeownership vouchers are available through an areas local
Public Housing Authority and can be used to buy a home. Not all PHA (Public
Housing Authorities) locations participate, but many do.</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">If you are using the PHA for
rent assistance you can get use the assistance toward a home purchase. You do
not have to purchase a home in your neighborhood. You can purchase somewhere
else you just need to qualify financially for where you are moving. </span></span></div>
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">I found out that I would have to wait a few months for the
process to help me, but that gave me time to get my finances and credit in
order to purchase a home with the PHA Homeownership Voucher.</span></span></div>
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">There are certain requirements such as you have to make at
least minimum wage at a full time position; you have to be a first time home
buyer or not have owned a home in the last three years. The home must also pass
any initial housing quality standards inspection conducted by the PHA and an
independent home inspection before the PHA may approve the purchase by the
family.</span></span></div>
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">If you enroll in the program and are approved for a
homeownership voucher from a participating Public Housing Authority you can receive
assistance for up to ten years of the mortgage. </span></span></div>
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">Everyone should know about this program. I might have to
wait a while but will be happy to finally get a home.</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><span style="color: red;"><b>Call Conquest Real Estate Group at (248) 569-1469 for more info.</b></span></span></span> </span></span></div>
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NCF SERVICEShttp://www.blogger.com/profile/03346484143823652028noreply@blogger.com0