By Antonio Redford
An annuity reverse mortgage is quite different from other regular and not so traditional mortgages. However, it is more beneficial for the policy holder. Well, annuity reverse mortgage is where a senior citizen can borrow against the equity in their home to receive payment in a form of monthly payment or lump sum. Hence, it is advisable to opt for this kind of reverse mortgage because it offers great benefits.
With the time, the loan balance decreases, as the insured is able to pay the amount of equity in allocated tenure. In this kind of loan, the borrowers receive money for the equity in their homes. As they receive money, the equity in their home declines and their loan balance increases.
However, an annuity reverse mortgage should not be confused with a home equity loan or home equity line of credit, as both of these are ways of obtaining money for the equity in a home. With either of these, the borrower must pay at least the monthly interest that is levied on the loan amount received, or the amount that they have drawn from their equity line. However, a reverse mortgage client does not have to pay anything until the loan is paid off. However, it is quite different for annuity reverse mortgage. However, there are various types of annuity reverse mortgages available and can be quite expensive in comparison to regular mortgages. The annuity mortgages are more beneficial in terms of money to the insured person.
Well, the kinds of annuity reverse mortgages currently available today include reverse mortgages offered by state or local governments often referred single purpose reverse mortgages. These annuity reverse mortgages are the least expensive. Moreover, they can be restrictive also, on how the money is distributed and can be used. The other one is federally insured home equity conversion mortgage.
These annuity mortgages are less expensive than other private sector reverse mortgages, but more expensive than the mortgages bought from the authorities. The third kind will be private sector or proprietary reverse annuity mortgages.
However, all these annuity reverse mortgages feature charge origination fees and closing costs. Therefore, if the person who is seeking this loan is still unsure, then it is advisable to hire an agent or a broker from a reverse mortgage firm to avoid any hassles in future. In fact, it will benefit them more, if the borrowers' acquire knowledge on such reverse mortgages, so that the company or the broker cannot misguide him or her.
Likewise conventional reverse mortgages, the annuity mortgage has to be paid when the last owner of the property named on the loan dies, the homeowner sells the home r has permanently move out of the home. However, prior to any of these conditions, nothing needs to be paid on the loan. There are also default conditions that can cause repayment of the loan which are similar to default conditions for other mortgages e.g., declaration of bankruptcy, donation of the home, abandonment of the home, fraud or misrepresentation, and more.
Antonio Redford is a legal expert. He gives advice to clients who are looking for expert counsel on reverse mortgage. For more queries about Reverse mortgages,annuity reverse mortgage,American reverse mortgage, annuity reverse mortgage visit on http://www.reverse-mortgage-seniors.com/
Article Source: http://EzineArticles.com/?expert=Antonio_Redford
Texas Mortgage Shopping For Hispanics
ป้ายกำกับ: Mortgage Refinace
By Glenn Lamb
In Houston Texas, Hispanics are a large part of the population. Many of these residents get a mortgage and have a loan officer that only speaks English. This can result in a customer getting a mortgage without a complete understanding of the process or terms. Even when a Hispanic buyer speaks English as a second language there can be misunderstandings because of unfamiliar words that are used in the mortgage process.
As a Houston mortgage broker I have seen examples of this when customers tell me that they didn't know that their previous mortgage was an adjustable rate loan. Or that they had an "option payment" loan and the size of the mortgage can get larger instead of reducing. In other cases a customer didn't know that escrow was not included in their payments and they were surprised to get a large tax bill at the end of the year.
A home will often be the largest purchase you make in your lifetime. In my opinion it is important for Spanish speaking customers to completely understand the mortgage process. When you shop for a home loan I suggest using a translator if necessary. or asking for a loan officer that is bi-lingual if your first language is Spanish.
When you are shopping for a home mortgage ask for a good faith estimate for terms. Don't let the loan officer hand you the form and say "here are the terms". All costs should be explained to you. In some cases certain costs may be negotiable. You can ask if any costs can be reduced or shop another lender to see which offers a better deal. Get a good understanding of all the mortgage costs and terms before your closing date.
Texas Capital Mortgage - Located in Houston - Lowest Rates for Good and Bad Credit Mortgages anywhere in Texas! - Houston Mortgage
- Also visit our Houston Hispanic Mortgage site at Houston Mortgage Espanol
Article Source: http://EzineArticles.com/?expert=Glenn_Lamb
In Houston Texas, Hispanics are a large part of the population. Many of these residents get a mortgage and have a loan officer that only speaks English. This can result in a customer getting a mortgage without a complete understanding of the process or terms. Even when a Hispanic buyer speaks English as a second language there can be misunderstandings because of unfamiliar words that are used in the mortgage process.
As a Houston mortgage broker I have seen examples of this when customers tell me that they didn't know that their previous mortgage was an adjustable rate loan. Or that they had an "option payment" loan and the size of the mortgage can get larger instead of reducing. In other cases a customer didn't know that escrow was not included in their payments and they were surprised to get a large tax bill at the end of the year.
A home will often be the largest purchase you make in your lifetime. In my opinion it is important for Spanish speaking customers to completely understand the mortgage process. When you shop for a home loan I suggest using a translator if necessary. or asking for a loan officer that is bi-lingual if your first language is Spanish.
When you are shopping for a home mortgage ask for a good faith estimate for terms. Don't let the loan officer hand you the form and say "here are the terms". All costs should be explained to you. In some cases certain costs may be negotiable. You can ask if any costs can be reduced or shop another lender to see which offers a better deal. Get a good understanding of all the mortgage costs and terms before your closing date.
Texas Capital Mortgage - Located in Houston - Lowest Rates for Good and Bad Credit Mortgages anywhere in Texas! - Houston Mortgage
- Also visit our Houston Hispanic Mortgage site at Houston Mortgage Espanol
Article Source: http://EzineArticles.com/?expert=Glenn_Lamb
Sell Your Home Tips for Creating a Warm Cozy Room
ป้ายกำกับ: Selling Home
By David W Miller
Selling your home is difficult in today's buyers market. No matter what style your home is the buyers want to feel cozy. Spruce up your fireplace. Clean out the ashes from your last fire, if your have glass doors clean the glass. Remove clutter from the mantle and the hearth. If you have a log basket fill it with clean firewood. White birch logs if available create a dramatic clean look.
The most dramatic spruce up you can do to your fireplace is to paint the firebox. After burning wood fires for years the inside walls of the firebox are stained from the smoke. Use a stiff brush and clean off the loose soot from the walls and floor of the firebox. Use high temperature black paint it can be the same as grill paint found at any home improvement store. The high temperature paint is available in spray or brush on. Paint the inside walls of the firebox this will create a dramatic background when a fire is burning.
When having your open house we do not suggest burning a wood fire. Instead I suggest using a fireplace candelabrum. Fireplace candelabras are designed to fit inside the firebox, they are low and wide. Fireplace candelabras can hold anywhere from 5 to 9 candles on average and most fit the wide candles. Select a color that compliments the room's décor. It is OK to burn a scented candle but no more than one of the candles should be scented. Burning more than one of the scented candles could be overpowering in the room. Light all the candles during your open house.
The warm glow of the burning candles is enhanced against the clean freshly painted black background. Create a cozy relaxing atmosphere around your fireplace and in your buyers heart. Sell your home.
Selling Tips
Fireplace Candelabras
Las Vegas Real Estate
Article Source: http://EzineArticles.com/?expert=David_W_Miller
Selling your home is difficult in today's buyers market. No matter what style your home is the buyers want to feel cozy. Spruce up your fireplace. Clean out the ashes from your last fire, if your have glass doors clean the glass. Remove clutter from the mantle and the hearth. If you have a log basket fill it with clean firewood. White birch logs if available create a dramatic clean look.
The most dramatic spruce up you can do to your fireplace is to paint the firebox. After burning wood fires for years the inside walls of the firebox are stained from the smoke. Use a stiff brush and clean off the loose soot from the walls and floor of the firebox. Use high temperature black paint it can be the same as grill paint found at any home improvement store. The high temperature paint is available in spray or brush on. Paint the inside walls of the firebox this will create a dramatic background when a fire is burning.
When having your open house we do not suggest burning a wood fire. Instead I suggest using a fireplace candelabrum. Fireplace candelabras are designed to fit inside the firebox, they are low and wide. Fireplace candelabras can hold anywhere from 5 to 9 candles on average and most fit the wide candles. Select a color that compliments the room's décor. It is OK to burn a scented candle but no more than one of the candles should be scented. Burning more than one of the scented candles could be overpowering in the room. Light all the candles during your open house.
The warm glow of the burning candles is enhanced against the clean freshly painted black background. Create a cozy relaxing atmosphere around your fireplace and in your buyers heart. Sell your home.
Selling Tips
Fireplace Candelabras
Las Vegas Real Estate
Article Source: http://EzineArticles.com/?expert=David_W_Miller
Real Estate Leads Need to Be Worked On
ป้ายกำกับ: Real-Estate
By Shareen Aguilar
Generating leads for real estate is one of the many stages needed before a real estate agent gets a sale; a successful client. But even for the moment of having all the leads in your hands, regardless if there are thousands of them; when reality starts to kick in that there could be a lot of rejected leads, those that are not just interested to get any service from any real estate agent just yet or it could simply become a lead that doesn't respond back to any of the contacts that you have made.
Setting your focus on what could happen in the real world is going to make the load lighter. Most real estate agents are already pleased by the number of leads that they get but the fact that these people have to be convinced and needs persuasion isn't an easy job at all. There could be instances when there are leads that will correspond with your inquiry but there is still a possibility for them not to contact you back in anyway or anymore. These instances do happen and after a while, you'll simply realize that out of the thousands of leads you have received, you can only count clients with your own fingers.
This is where filtering comes in. If you want to save on the money that you have paid lead generating companies, make sure that you do spend and check the leads you get. Chances are, these leads could be generated from other companies giving you duplicate leads which is not necessarily at all. This makes the lead generating companies that you trust a bad choice. But, of course, you have to assert and pro actively seek out the leads you get. If you are determined enough to reach these leads during their most comfortable time of the day, you will definitely get a good head start on lead marketing.
Shareen Aguilar is a writer for Real Estate Leads Generation which has information on generating Real Estate Leads.
Article Source: http://EzineArticles.com/?expert=Shareen_Aguilar
Generating leads for real estate is one of the many stages needed before a real estate agent gets a sale; a successful client. But even for the moment of having all the leads in your hands, regardless if there are thousands of them; when reality starts to kick in that there could be a lot of rejected leads, those that are not just interested to get any service from any real estate agent just yet or it could simply become a lead that doesn't respond back to any of the contacts that you have made.
Setting your focus on what could happen in the real world is going to make the load lighter. Most real estate agents are already pleased by the number of leads that they get but the fact that these people have to be convinced and needs persuasion isn't an easy job at all. There could be instances when there are leads that will correspond with your inquiry but there is still a possibility for them not to contact you back in anyway or anymore. These instances do happen and after a while, you'll simply realize that out of the thousands of leads you have received, you can only count clients with your own fingers.
This is where filtering comes in. If you want to save on the money that you have paid lead generating companies, make sure that you do spend and check the leads you get. Chances are, these leads could be generated from other companies giving you duplicate leads which is not necessarily at all. This makes the lead generating companies that you trust a bad choice. But, of course, you have to assert and pro actively seek out the leads you get. If you are determined enough to reach these leads during their most comfortable time of the day, you will definitely get a good head start on lead marketing.
Shareen Aguilar is a writer for Real Estate Leads Generation which has information on generating Real Estate Leads.
Article Source: http://EzineArticles.com/?expert=Shareen_Aguilar
Home Buyers Cash In on Market Slump
ป้ายกำกับ: Buying
By Richard Soto
It's no secret that real estate is experiencing a market slump; in fact sales are lower than they've been in 16 years. Wall Street economists compile a seasonal market forecast; a rating higher than 50 indicate a positive market. The current forecast was only 30 and has remained below 50 since may of 2006. Gone are the golden years of bidding wars or listings at unrealistically high prices. For the seller, it's time to come back to reality and do whatever it takes to sell your home. For the buyer, your time has arrived!
What has caused this slump? It's actually a combination of factors including high mortgage rates; 30-year, fixed-rate mortgages average over 6 percent, the highest in over a year. Also, tighter standards have been imposed for obtaining a mortgage, thus decreasing the amount of qualified buyers. The overall market uncertainty has created some wary buyers who are content to stand by and watch the housing trends.
With new homes creating about 15 percent of all home sales, there is a glut of inventory in the homebuilder industry. What do stores do when they have extra stock; they have a clearance sale! As a result the market is saturated with buyer incentives offered by over 70 percent of U.S. builders trying to unload their homes. Some of the rather lucrative deals we're seeing are:
Centex Homes is giving away outdoor living packages worth up to $33,000 to speed sales. Giveaways include decorative concrete patios, wooden arbors, outdoor fireplaces and grills.
Ryland Homes has been advertising "free fantasy vacations" to catch the eye of potential buyers. Purchasers in its subdivisions can choose from trips to the Caribbean, Mexico or Las Vegas.
Ashton Woods is holding the grand opening of its new townhome community of Rockbrook in Lewisville. The first 10 buyers will enjoy $15,000 in options – up from the standard $10,000 incentive.
Grand Homes is offering a free swimming pool or $12,500 in upgrades. For their golf course community of Lantana, they are offering a free golf membership.
American Legend Homes is appealing to football fans by offering a 42-inch high definition plasma screen television.
Other builders are simply chopping prices.
Both Coleman Homes and Grand Homes have recently advertised price cuts of $40,000 to $50,000 on some of their finished houses.
Another major builder, K. Hovnanian Homes, held a nationwide "three-day sale" this month to trim its inventory. They forecasted a sale of 1000 homes and actually sold 2100. They lowered their price to do this, but made up the difference in the volume of sales.
City Homes in Addison is offering $30,000 off the purchase price.
Realtors are trying to compete with the new home sales by offering their own incentives. VIP Realty is offering a rebate of up to 1.5 percent of the sales price if you use them as your exclusive agent.
There is, inevitably a downside to all of these promotions. One of the problems is keeping up with the incentives. One realtor cautions his customers that there could be a better deal next week. They also seriously cut into the profit margin, as these giveaways are expensive and many companies are losing money because of it. It also creates an impression of 'buy now or miss out'. Prospective customers may purchase before they are ready or on the flip side, hold back because they feel overwhelmed. Currently the federal government has been investigating the legalities of all of these incentives. Although no final reports are available, there are some basic considerations to keep in mind.
Make certain the cost of the incentive is not built into the price of the home, as it must be a legitimate perk.
If the promotion involves financing, the buyer cannot be coerced into dealing with the builder's financial associate.
If the incentives exceed 6% of the purchase price, be cautious; generally even high risk customers are required to put at least 10% down.
If it sounds too good to be true, it probably is.
Either way the lower prices and free giveaways are definitely great for the buyer; go ahead and enjoy them while they are here. Make certain you find a real estate agent you feel comfortable working with, as nothing replaces the sound advice you can receive from a trusted agent.
Contact VIP Realty regarding the Dallas real estate market. Any one of our experienced Dallas realtors will be happy to assist you.
Article Source: http://EzineArticles.com/?expert=Richard_Soto
It's no secret that real estate is experiencing a market slump; in fact sales are lower than they've been in 16 years. Wall Street economists compile a seasonal market forecast; a rating higher than 50 indicate a positive market. The current forecast was only 30 and has remained below 50 since may of 2006. Gone are the golden years of bidding wars or listings at unrealistically high prices. For the seller, it's time to come back to reality and do whatever it takes to sell your home. For the buyer, your time has arrived!
What has caused this slump? It's actually a combination of factors including high mortgage rates; 30-year, fixed-rate mortgages average over 6 percent, the highest in over a year. Also, tighter standards have been imposed for obtaining a mortgage, thus decreasing the amount of qualified buyers. The overall market uncertainty has created some wary buyers who are content to stand by and watch the housing trends.
With new homes creating about 15 percent of all home sales, there is a glut of inventory in the homebuilder industry. What do stores do when they have extra stock; they have a clearance sale! As a result the market is saturated with buyer incentives offered by over 70 percent of U.S. builders trying to unload their homes. Some of the rather lucrative deals we're seeing are:
Centex Homes is giving away outdoor living packages worth up to $33,000 to speed sales. Giveaways include decorative concrete patios, wooden arbors, outdoor fireplaces and grills.
Ryland Homes has been advertising "free fantasy vacations" to catch the eye of potential buyers. Purchasers in its subdivisions can choose from trips to the Caribbean, Mexico or Las Vegas.
Ashton Woods is holding the grand opening of its new townhome community of Rockbrook in Lewisville. The first 10 buyers will enjoy $15,000 in options – up from the standard $10,000 incentive.
Grand Homes is offering a free swimming pool or $12,500 in upgrades. For their golf course community of Lantana, they are offering a free golf membership.
American Legend Homes is appealing to football fans by offering a 42-inch high definition plasma screen television.
Other builders are simply chopping prices.
Both Coleman Homes and Grand Homes have recently advertised price cuts of $40,000 to $50,000 on some of their finished houses.
Another major builder, K. Hovnanian Homes, held a nationwide "three-day sale" this month to trim its inventory. They forecasted a sale of 1000 homes and actually sold 2100. They lowered their price to do this, but made up the difference in the volume of sales.
City Homes in Addison is offering $30,000 off the purchase price.
Realtors are trying to compete with the new home sales by offering their own incentives. VIP Realty is offering a rebate of up to 1.5 percent of the sales price if you use them as your exclusive agent.
There is, inevitably a downside to all of these promotions. One of the problems is keeping up with the incentives. One realtor cautions his customers that there could be a better deal next week. They also seriously cut into the profit margin, as these giveaways are expensive and many companies are losing money because of it. It also creates an impression of 'buy now or miss out'. Prospective customers may purchase before they are ready or on the flip side, hold back because they feel overwhelmed. Currently the federal government has been investigating the legalities of all of these incentives. Although no final reports are available, there are some basic considerations to keep in mind.
Make certain the cost of the incentive is not built into the price of the home, as it must be a legitimate perk.
If the promotion involves financing, the buyer cannot be coerced into dealing with the builder's financial associate.
If the incentives exceed 6% of the purchase price, be cautious; generally even high risk customers are required to put at least 10% down.
If it sounds too good to be true, it probably is.
Either way the lower prices and free giveaways are definitely great for the buyer; go ahead and enjoy them while they are here. Make certain you find a real estate agent you feel comfortable working with, as nothing replaces the sound advice you can receive from a trusted agent.
Contact VIP Realty regarding the Dallas real estate market. Any one of our experienced Dallas realtors will be happy to assist you.
Article Source: http://EzineArticles.com/?expert=Richard_Soto
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