|Real Estate Information|
Mortgage Prepayment Penalties - Just Say No
One of the most common terms found in a new home loan is a prepayment penalty. This type of penalty says that if the borrower pays off the loan early, commonly during the first five years of the loan, then the borrower will be responsible for paying an additional amount of money, typically about six months interest on 80% of the mortgage balance. Sub-prime market loans will typically carry prepayment penalties more than standard mortgage loans.
You may plan on keeping the house for the entire duration of the prepayment penalty, and be tempted not to worry about it much. But sometimes life circumstances change, so its wise to avoid any type of prepayment penalty if you can. A typical prepayment penalty might equal five months worth of monthly loan payments, so its worth checking on. Of course, you should always ask before you sign if a new loan has a prepayment penalty. In fact, ask the lending officer to point out to you in the document where a prepayment penalty is discussed.
Most items in a loan are subject to negotiation. If you havent signed loan papers yet, and you find that your loan has a prepayment penalty, you might offer to pay an additional closing point or so to see if it can be removed. The key at this stage is that if you agree to the prepayment penalty, you should try to find ways to reduce either the amount, the term, or both as much as possible.
If you already have a loan, you are bound by the terms of the document, unless you can negotiate them. There are perfectly legitimate reasons why you may want to pay off a note early - most often, due either to refinancing or selling the house. You may be able to contact your lender to see if they will waive the prepayment penalty if they are able to provide refinancing. If interest rates have dropped a lot, and you cant get out of the prepayment penalty, it may be worth rolling that amount into a new loan. And of course, try to get the new loan without a prepayment penalty.
Paralysis By Analysis
Every day we get emails and telephone calls from people who want to get started in Real Estate. We hear, I am just checking out your program. Or, I’ve been researching for the past six months to try and find a program. While researching and checking out programs is an important step, so many of these individuals never follow through to the next step, which is getting started and moving forward.
How To Sell Your Website Fast
Dear Website Owner,
Seven Key Tax Deductions for the Self Employed
As a sole proprietor, it*s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004. Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with your accountant well before the year-end rush to discuss such matters as tax planning, and record keeping for tax deductions.
What’s Your StyleA Guide to America’s Most Common Home Styles
Styles of houses vary across the country.From the New England Cape Cod to the Victorians of San Francisco, the choices are almost endless.Knowing which style you prefer is one of the basic elements in your hunt for the perfect home.
Camera Cell Phones -- More uses than you could have imagined
I was shopping in the large superstore with my five-year-old daughter, perfectly unaware that in the next few minutes I would be living through every parent’s nightmare – in an instant my child would disappear from my side. She had been looking through the little dresses right beside me and, when I called her to go try one on, she was no where to be found. I loudly called out her name, trying to keep the panic from my voice, as I frantically looked all around.
Perhaps you’d like to take advantage of today’s great real estate market in housing but feel a little intimidated by everything that’s involved.
Student Home Purchase Plan
Tuition costs are climbing, housing costs are climbing, it seems like all the costs for students are climbing these days. Students can afford cost increases less than any other demographic in Canada. Because of this, parents and students alike are looking for new ways to offset the costs of education.
Attention To Details Helps Homeowners Sell Fast In A Buyers Market
Your boss has just given you the career opportunity of a lifetime, but the job is in another state.
Getting One Way SEO Links - The Easy and FREE Way
What we are hunting for
A Real Estate Investing Primer
There are a great many books and web sites devoted to real estate investing out there, but most of them concentrate on one specific area of investing.Its often hard to find a general description of real estate investing, one that lists the various real estate investing strategies and how to get started.Thats what this article will set out to do.
Preparing a Budget
Ok, you say, I know I need a budget, but how do I prepare one The most common budget period is one year, but this can vary depending on whether or not your business has seasonal or cyclical fluctuations. For example if you run a Christmas decorations shop, or a costume shop your business is going to peak during certain times of the year.
Rent Collections Via The Internet Theyre Not Far Awayllections Via The Internet Theyre Not Far Away
Since the first rental units were built there have been property managers, a profession which requires both real estate expertise as well as a keen understanding of the human psyche. Property managers not only collect the rent and undertake repairs, they are also the bridge between owners and tenants -- two groups often in conflict.
Writing e-Newsletters – Tricks of the Trade
Follow 10 simple rules of thumb, and you’ll soon be writing great e-newsletters and reaping the rewards.
How To Boost Affiliate Profits Using Secret Domain Tricks
Want to increase your affiliate link click-through rates and profits
13 Steps to Increasing Your Link Luck
Link development can be an absolute nightmare. It takes up most of a marketer’s time and the yield isn’t always what we originally hoped. Worrying about PR, one way inbound links, triangle linking, where to find quality sites to exchange with, it’s all just a huge headache. To be honest, there’s no real way to wash your hands of it, unless you have a huge budget for purchasing text links or to hire someone to do your linking for you. So here are 13 ways to increase your linking luck. They require a little bit of effort, but executed properly, these steps will only bring your site success.
Perhaps you’d like to take advantage of today’s great buyer’s market in housing but feel a little intimidated by everything that’s involved.
Can I Have Your Autograph
Being a celebrity means dealing with fan demands for autographs, ranging from polite and appropriate to rude and overbearing. One time Katherine Hepburn was performing on Broadway and tried to exit backstage through a crowd of jostling autograph hounds. Bodyguards helped her to her limo and once safely inside the very private star rolled down the window and shouted," Run em down! Well clean up the blood later!" The crowd scattered and the limousine sped away, pausing long enough for Hepburn to roll down the window and wave goodbye to her fans, accompanied by an evil laugh. Strangely enough, when she lived in Beverly Hills the seclusion loving Hepburn developed the habit of sneaking into her neighbors houses as a hobby. She became expert at climbing trees, avoiding alarms and dogs, and revealing herself just before her nervous neighbors called the police.
Image is Key to Your Marketing Success
In virtually any business first impressions are lasting impressions. Most people have heard this statement for years, and yet some people completely ignore the first impression they are conveying to potential customers or clients.
The Disciplines of Success
Success, in the dictionary, is defined as, “The achievement of something desired, planned, or attempted.” So why is success in our society defined by the balance in your bank account, the car you drive, or how big your house is You are successful if you are a lawyer, doctor, or movie actor with a six figure income. You should be able to be called a “success” when you have been able to do anything and everything you have wanted to do in your life. Shouldn’t success be defined as being able to do what your passion is in life Shouldn’t you be successful when you have achieved complete happiness Besides money, wealth should include your spiritual, physical and mental well-being.
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