Sometimes a couple will qualify for a mortgage with one partner’s income, but won’t qualify with their combined income and debt. Think new lawyer with $200,000 in student loans. Think recently divorced and remarried person still carrying the bad credit from his/her ex. You would think that lenders wouldn’t allow only one person to be
People who already own one house or condo who are looking to buy a bigger place (trade-up) or a smaller/cheaper place (downsize, right-size, or down-cost) are at an advantage now that the market has recovered. Whatever your equity position was in 2008, it is better today. That allows some owners to get enough liquidity to
Those who don't understand the meaning of the numbers can be easily manipulated. Not only can economists and journalists confuse people with numbers, so can crooked mortgage originators, real estate agents, and companies who give credit to young (and not so young) adults. Economic "news" is frequently poorly written for those who do not read
Sic Transit Gloria Paper Checks Ron Rothenberg 4 Buyers Real Estate Few industries have defended their attachment to paper as ferociously as real estate law. But the reign of paper may be ending, as digital contract signatures become more the norm than the exception. One piece of paper that hasn't gone away
The number one question that I have been hearing from would-be buyers is “What does all this cost, above and beyond the monthly mortgage payment I will be taking on?” First-time house-hunters know that there is a dreaded broker fee and so-called closing costs. Add to that the fee for inspections and legal work. Most