from Home Buyer’s FAQ on yourvalleyproperty.com What happens when the appraisal does not support the purchase price? Surprisingly you have more options then you might think. This is not necessarily a deal-breaker. You will have the choice of walking away, as a satisfactory appraisal is a condition of your contract. Renegotiating the price or terms… Read More
Earlier this year, the CFPB issued one of its regular bulletins, announcing a range of financial rules for financial institutions Just by knowing the rules, you can learn how to take care of yourself. Below are some of the highlights. Regulation Z Reins in Mortgage Originators This regulation “prohibits a loan originator from receiving compensation… Read More
You’ve seen the television commercials. A well-known actor sings the praises of reverse mortgages and promises fast debt relief if you agree to one. But what is a reverse mortgage? Do you qualify for one? When should homeowners consider a reverse mortgage? What Is a Reverse Mortgage? A reverse mortgage is a loan available to… Read More
For a long time, the “man cave” held a singular position in the creation of private space in the home. It was erroneously believed that men were the only members of the family who needed a fortress of solitude. Things have changed, and today both men and women are looking for places to retreat in… Read More
from ‘Not Your Daddy’s Home Selling Tips‘ on yourValleyProperty.com Be the Bank. Under very specific circumstances it may be in your best interest to consider acting as the mortgagee. This is commonly known as a carry-back. My best advice if you’re considering this would be to talk with a financial consultant and an attorney before… Read More
Though you may be willing to spend a certain amount, the real determination of how much house you can buy is driven by how much a lender calculates you can afford. Gone are the days when “creative financing” could be used to manipulate your credit worthiness or your ability to buy a home. Government regulation… Read More
Expanding your living space beyond the walls of your home can give you additional room and help you connect with the world around you. Here are some great ways you can decorate your outdoor spaces to make them inviting places to spend time. A conversation space: Covered spaces make a great outdoor conversation area. Use… Read More
If working a corporate job for the rest of your life sounds like your worst nightmare, you may want to consider arranging your finances in a way that can give you some freedom at a younger age. Many people love the idea of working until they’re over the age of 60, but if that thought… Read More
An accessory dwelling unit, or ADU, is a secondary habitable structure on the same property as or connected to an existing home. It is smaller than the main house and provides auxiliary living opportunities on the property. Here in Arizona this may be called a casita, guest quarters or in-law apartment. The building and use… Read More
Adjustable rate mortgages are loans with variable interest rates that change according to the market rates, as opposed to fixed rate mortgages, which guarantee a set rate for the entire period of the loan. ARMs may seem like a great idea some years, but in other years, you may wonder what you were thinking when… Read More
