Blog — Page 719 of 887 — First Rate Financial Group

26

May

Home Buyer Tips

Did You Know?: 4 Ways That a Real Estate Attorney Can Make Your Home Purchase Easier

Did You Know?: 4 Ways That a Real Estate Attorney Can Make Your Home Purchase Easier It is common for home buyers to take steps to keep their out-of-pocket expenses to a minimum, and many will try to avoid paying for optional services for this reason. While you may not want to pay for all optional services, there are some that can be truly beneficial to you even if they are not required. After learning more about the services provided to you by a real estate attorney, you may be ready to seek out these professional legal services for your upcoming purchase.

Explaining the Contract

A real estate sales contract can be confusing to understand because parts of it use real estate or legal jargon. Your real estate attorney can review the contract for you to ensure that your rights are protected, and he or she can also help you to better understand your obligations and requirements under the contract.

Assisting With Title Research

A real estate attorney can also assist you with researching the title. Everything from liens and covenants to easements and more may impact your ownership of the property. The real estate attorney will provide you with more information to ensure that you have title to the property free and clear.

Helping You With the Mortgage Documents

A mortgage is a legally binding agreement. You will be contractually bound by the terms of the mortgage. From the monthly payment obligation to the ability of the lender to foreclose on the property if you do not follow through on the terms of the mortgage, there are many legal nuances to consider. The real estate attorney can review these documents on your behalf before you sign them.

Representing You at Closing

Your closing is both a financial and a legal process. This is where you will sign all of the mortgage, title and sales documents to finalize the purchase. Generally, after closing, you will own the property and will be contractually tied to the mortgage. While many documents will be available for your attorney to review before closing, there may be last minute changes or other documents available at closing that your attorney has not reviewed. Your attorney can represent your interests and answer your questions at the closing table.

You do not need a real estate attorney to assist you throughout the purchase process. However, you can see that there are many beneficial services provided to you by an attorney. Contact your trusted mortgage professional for more information.

25

May

By support

Around The Home

4 Neglected Home Maintenance Tasks That Are a Must

4 Neglected Home Maintenance Tasks That Are a Must There are a number of home maintenance tasks that are easy to forget about in favor of more obvious renovations, but forgetting to do some of them can end up costing you a lot down the road. If you’re hoping to keep your home in tip-top shape, here are a few tasks that you shouldn’t forget about.

Sealing Off Access Points

Small rodents and insects can wreak havoc on your home if they gain access, so ensure that you maintain the foundation of your home and seal off any areas where these pests might get inside. Check all the windows and doors, and survey the foundation of your home, making sure to patch up any areas where sealant or mortar has come loose.

Cleaning The Shingles

The reality of algae eating away at your roof shingles can be an unpleasant, expensive renovation, so clean your roof on a regular basis before any black streaks can take your shingles with them. Simply mix together hot water, bleach and detergent and spray this from your garden hose on a cooler day so you can save your roof from rot. This will also save you the cost of having to hire a professional

Maintaining Your Wood Deck

There are few things that will age your yard like a poorly maintained deck, so take the time to re-stain and seal your deck so it doesn’t quickly see the effects of time and weather. While harsh weather can have an ill effect on your deck’s appearance, properly maintaining it will mean you can avoid the high cost of replacement that will be required.

Keeping It Clutter Free

Many homeowners get pretty comfortable in their home, and this can often mean that many boxes of unused items get stored away. Instead of keeping old items though, do a clean out once every 6-12 months to get rid of the things you don’t use. By having a clean basement and garage, you’ll also have the ability to notice many other maintenance issues that might not be visible with all the extra stuff.

There are a number of maintenance tasks around the home that people often forget, but neglecting to complete them can often times cost a pretty penny down the road. Contact your local mortgage professional for more information.

24

May

By support

Home Mortgage Tips

Need to Discuss – How to Refinance Your Adjustable-rate Mortgage with Better Terms

How to Refinance Your Adjustable-rate Mortgage with Better Terms An adjustable-rate mortgage was once a great mortgage product, at a time when home buyers wanted to avoid locking in high interest rates. But with historically low interest rates now available to millions of buyers and rates expected to rise in 2017, lots of mortgage holders are trying to find a deal and negotiate better terms before rates go up. One great way to save on mortgage costs is to refinance your adjustable-rate mortgage.

So how can you make a mortgage refinance work for you? Here are a few tactics you can use to get better terms through a refinance on your adjustable-rate mortgage.

Get Your Finances In Order

In order to successfully refinance your adjustable-rate mortgage, you’ll need to be in a strong financial position for a variety of reasons. Firstly, having a strong credit score gives you much more leverage when negotiating with a lender. And secondly, refinancing a mortgage will come with closing costs that you’ll need to pay out of pocket.

Make sure your finances are in good shape before you try to refinance it’ll be much easier.

Extend The Loan’s Term For Lower Monthly Payments

Recasting a mortgage is a popular way to reduce your monthly mortgage payments without giving up other favorable terms in your loan. When you recast your mortgage, you make a lump sum payment directly toward the principal amount of the loan, which reduces the loan balance, decreases your interest payments, and lowers your monthly payments. The loan maintains its original term, but it becomes much easier to manage.

Interest Rate Reset Coming Up? Negotiate An Interest Rate Cap

One little-known tactic that you can use to get better terms is to take advantage of an interest rate reset to negotiate a rate cap. In order to take advantage of this, you’ll need to get a mortgage approval and loan estimate for a fixed-rate mortgage. Once you have an approval in hand, your bank may have the option to offer to cap your interest rate.

Refinancing an adjustable-rate mortgage is becoming increasingly common, and for good reason. A mortgage advisor can help you to navigate the refinancing process. Contact your local mortgage professional to learn more.