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Monthly Archives: October 2017

    Up-front Points to Lower the Rate

    By Carla Higgins | October 31, 2017

    When loans are quoted by lenders, most buyers pay attention to the interest rate but not so much to the points that may be charged along with the rate. A point is one-percent of the mortgage amount and considered pre-paid interest that affects the yield on the loan. Buyers or sellers can pay points but … Continue reading Up-front Points to Lower the Rate → Read More

    By Carla Higgins | October 25, 2017

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    Debt Relief May Trigger Tax

    By Carla Higgins | October 24, 2017

    The Mortgage Debt Forgiveness Act, originally passed in 2007, was extended three times to protect homeowners from paying income tax on debt that was relieved due to foreclosure, short sales or deed in lieu of foreclosure. The law expired on December 31, 2016 and unless it is extended again, homeowners with debt relief in 2017 … Continue reading Debt Relief May Trigger Tax → Read More

    Indecision is Not a Decision

    By Carla Higgins | October 17, 2017

    There could be some legitimate reasons for not buying a home but indecision is not one of them. Indecision is rooted in not having enough information to move forward to own a home or continue renting. If you keep renting, at the end of the year, you have had a place to live and a … Continue reading Indecision is Not a Decision → Read More

    Risk Rate Relationship

    By Carla Higgins | October 10, 2017

    Regardless of what a lender quotes on mortgage rates, the actual rate a borrower pays is based on a number of variables. Lenders determine whether to loan money and at what rate based on the risk involved with the transaction. Factors that increase the risk that the loan will be repaid will proportionately increase the … Continue reading Risk Rate Relationship → Read More

    Pre-approval is Good for Everyone

    By Carla Higgins | October 3, 2017

    Buyer’s mortgage pre-approval is good for everyone in the transaction. It saves time, money and removes the uncertainty of knowing whether the buyer will be qualified after negotiating a contract. The direct benefits include: Looking at “Right” homes – price, size, amenities, location Find the best loan – rate, term, type Uncover credit issues early … Continue reading Pre-approval is Good for Everyone → Read More

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