home finance
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Tenant Rights Without a Lease: Understanding Your Legal Protections
If you rent a property without a written lease, you are what is known as a "tenant-at-will." You have several protected rights as guaranteed for all renters by your state laws. Having no lea
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Mortgage Approval with Lawsuit: What Lenders Need to Know
Most lenders do not approve borrowers involved in lawsuits. Question D in Section VIII, the Declarations section of the Uniform Residential Loan Application, specifically asks whether the borrower is
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Deed in Lieu of Foreclosure: A Comprehensive Guide
Sometimes called the "friendly foreclosure," the deed in lieu of foreclosure involves the borrower voluntarily turning over the property to the lender to avoid foreclosure proceedings. While
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Car Loans After Homeownership: What You Need to Know
Qualifying for a home loan is more difficult than qualifying for auto financing. Not only is the average home price and mortgage amount larger than the average auto loan or lease, buying a home requir
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Affordable Acreage: The Cheapest States to Buy Land
Inexpensive real estate can be found in a many different states. In most cases, the cheapest real estate is far removed from major population centers, where there is no access to sewer or electrical h
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Reverse Mortgages & No Equity: Eligibility & Requirements
For some senior citizens, reverse mortgages may seem like the perfect solution to financial problems. As long as they continue to live in their home, they receive a monthly reverse mortgage payment fr
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Understanding Revised Mortgages: Modifications & Refinancing
A revised mortgage, also known as a modified mortgage, is a mortgage that has had its term changed through a legal amendment to the pre-existing home loan. While some homeowners will choose to refinan
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HARP Refinance Loan: A Guide for Homeowners
The Home Affordable Refinance Program helps homeowners with little to no equity refinance when other lenders won't allow it. HARP is a temporary government initiative that permanently replaces a b
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Filing a Complaint Against Your HOA: A Step-by-Step Guide
Moving into a well-maintained community with a homeowners association can help to protect your home value, but coming up against unwanted rules or fees can be a frustrating pain in the budget. If you
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Virginia Rent Increase Laws: Landlord & Tenant Rights
In the Commonwealth of Virginia, the Virginia Landlord and Tenant Act governs the respective rights and duties between landlords and their tenants. Landlords may only raise rent at the end of their le
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HUD Homes vs. HomePath: Understanding Your Options
The U.S. Federal Housing Administration sponsors a home-ownership program through the Department of Housing and Urban Development, or HUD. HUD homes become available for sale in cases where a home own
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Land Contract Interest Rates: Understanding Costs & Calculations
A land contract is an alternative to a traditional mortgage. Rather than obtain a home loan from an institutional lender, the buyer finances a home directly from the seller. A land contract is also kn
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Senior Housing Assistance: Eligibility & Affordable Options
Seniors living on a limited income frequently need help finding affordable housing. Although programs can differ in specific eligibility requirements, generally, housing costs for subsidized programs
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Reverse Mortgage LTV: Understanding Loan-to-Value Ratios
Loan to value (LTV) is the ratio of a loan amount to the value of the property at the time the loan is taken out. Most mortgages without mortgage insurance require an LTV of not more than 80 percent -
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Conventional Mortgage Down Payment: What You Need to Know
Risk is a primary factor in determining the minimum down payment for a conventional loan. A down payment offsets a lender's risk and allows you to finance a smaller mortgage so you owe less to the
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Effective Home Management: Skills & Strategies for a Thriving Household
Home management is the process of properly maintaining a home and property and overseeing necessary household activities. Much like operating a business, managing a home requires skills such as planni
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Apartment Leases & Credit Reports: What You Need to Know
It's not uncommon for new renters to ask, "Do apartments go on your credit report?" Traditionally, apartment companies have not reported tenant leases, missed payments or other informati
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Understanding Subprime Loans: Causes & Impact
Subprime loans are credit products issued to borrowers with relatively lower credit scores or lacking in credit history. These loans were at the center of the economic recession that peaked during 200
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Understanding a Notice of Default (NOD): What It Means for Homeowners
While the foreclosure process might differ slightly from state to state, especially when it comes to the exact number of days that it takes to proceed from one step to the next, the legal requirements
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Understanding 10% Contingency Fees in Real Estate: A Comprehensive Guide
Working with a real estate agent to sell or buy property can free up your time. The agent is responsible for most aspects of the sale and basically all you have to do is show up at the closing and sig
home finance
- Refinance vs. Renewal: Understanding the Key Differences
- First Mortgage Payment Due Date: What You Need to Know
- Understanding & Finding Your Assessor's Parcel Number (APN)
- Mortgage Assumption: A Comprehensive Guide for Buyers
- Calculating Developer Fees: A Comprehensive Guide
- Quitclaim Deeds & Excise Tax: Avoiding Transfer Taxes in Washington
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The Simple Path to Wealth Book Review: A Journey to Financial FreedomIn 2015 and 2016, Kim and I took a 15-month RV trip across the United States in an RV. It was awesome. During late July 2015, we stopped for a few days on the Wisconsin side of Lake Michigan. ...
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New York COVID-19 Vaccine Lottery: Win Up to $5 Million!In some states, getting vaccinated could come with financial rewards. ...
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Retire Early: A Step-by-Step Guide to Financial FreedomYouve probably listened to a conversation or read an article online about people who have achieved early retirement and are now living their best lives. Theyve moved th...
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Gross Profit vs. Net Profit: A Comprehensive Guide for BusinessesGross profit is your profit after subtracting the...