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Category Archives: Personal Finance

3 Reasons To Attend Your Own Home Inspection

Be present for your home inspectionAs a home buyer in Sacramento, you can get a feel for whether a home’s systems and appliances are in working order. However, you won’t know for certain until after the home’s been inspected.

This is why real estate agents recommend that buyers hire a licensed home inspectors immediately after going into contract. It’s the best way to really know the home which you’re buying.  Read the rest of this entry »

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Posted by on February 28, 2013 in Personal Finance

 

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What Do I Do? The Home Didn’t Appraise At Its Purchase Price

We are experiencing somewhat of a seller’s market in Sacramento, and a changing climate, as value’s are starting to rise across the country. With this added demand, comes multiple offers which can drive up the purchase price of a home – sometimes artificially. We know that too many buyers are chasing too few sellers, and reaching a sales agreement can be just the start of the negotiation process. One particular negotiation point which can present difficulties for both buyers and sellers is when a home’s appraised value falls short of its contracted sales price.

Home appraisal remedies for home sellersSometimes, this happens because the home’s price was inflated. Other times, it’s the result of a faulty appraisal. Or, everyone knows the home won’t appraise, but the market is heating up and the seller feels they deserve what “the market will bear”, and don’t care what the appraisal says. Read the rest of this entry »

 
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Posted by on January 16, 2013 in Personal Finance

 

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Maintain Adequate Homeowners Insurance Coverage

Maintain adequate homeowners insurance coverageIn the aftermath of Hurricane Sandy, stories have emerged of homeowners whose hazard insurance coverage was too low to cover the damage to their respective properties.

Unfortunately, this scenario is common among U.S. homeowners, and is not just limited to damage from natural disasters. Homeowners in Sacramento and nationwide are often woefully under-insured against catastrophe in its many forms. Read the rest of this entry »

 
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Posted by on December 7, 2012 in Mortgage Blog, Personal Finance

 

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Short Sale : How Do I Write A Hardship Letter?

Short SaleThere are alternatives to bankruptcy or foreclosure for home owners who can no longer afford to keep mortgage payments current – It’s called a “short sale”. A short sale is when a property is sold for less than its remaining mortgage principal balance, and executed as a way for both the existing homeowner and mortgage lender to cut their respective losses.

Typically, although not always, short sales are reserved for situations of extreme financial hardship; just prior a bank beginning foreclosure proceedings.

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Tips To Close Your Home Loan Faster, With Fewer Hassles

Close faster on your mortgageWith mortgage rates at all-time lows, purchase and refinance activity is climbing. And with guidelines tight, and pipelines full, you will want to be properly prepared up front to mitigate some of the horror stories you have probably been hearing about.

Home sales are at their highest levels since May 2010 as home buyers take advantage of favorable economic conditions. Home prices are low, household income is rising, and rents are up in many U.S. cities.

Low rates have stoked mortgage refinance applications throughout Sacramento, too. Read the rest of this entry »

 
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Posted by on October 11, 2012 in Personal Finance

 

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Will My Credit Score Go Down While Shopping For A Mortgage?

FICO recipeI get this question daily from my prospective buyers. “Do you have to pull my credit? I don’t want you to hurt my score that I have worked so hard to maintain.” A great question for today’s home buyers and refinancing households, the value of “good credit” has never been higher.

Years ago, that concern made more sense. Today, it doesn’t, because having a mortgage company pull your credit is very different from having Walmart do it. Read the rest of this entry »

 
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Posted by on September 11, 2012 in Personal Finance

 

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How Will Buying or Leasing a Car Affect My Mortgage?

Should you lease a new car, or should you buy one? Like most financial questions, the answer depends on your situation. For some people, leasing a car presents distinct economic advantages. For others, buying a car is the way to go. Read the rest of this entry »

 
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Posted by on August 22, 2012 in Personal Finance

 

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