Understanding the Appraisal Process in a Real Estate Sale

If you’re thinking about buying, selling, or refinancing your home in order to take advantage of a better interest rate, the appraised value of your property is an important number. An appraisal will help determine how much you will likely be able to get for your home if you sell, or in the case of an refi, which usually only allows a portion of the property’s value to be included in a new loan, will determine how Read More

8 Items a Title Search Might Uncover

Buying a home or property is a major investment, often the biggest one of your life, and taking the right steps to ensure that the home is free from any encumbrances before you make the purchase will protect you and allow you to enjoy your new asset for years to come. Some of the most important things to think about include hiring an inspector to check for safety issues, making sure the property is priced fairly Read More

5 Possible Alternatives to Foreclosure

Millions of people fall behind on their mortgage payments each year – a sudden layoff, medical bills, or a hot water heater that dies mid-January, can all be financially catastrophic - leaving them afraid to check the mail for fear that a foreclosure notice might be waiting for them. If you’ve missed a few house payments and worry that you might soon be the recipient of an unwelcome foreclosure notice, there are some Read More

In a Car Accident? Take These 7 Steps Immediately

Being in a car accident can be frightening and disorienting, but in order to protect yourself legally, it’s important to follow certain steps if you are physically able to do so in order to ensure that your damages are covered, not only those that your vehicle sustained in the crash, but also any injuries that you and any passengers who may have been with you in the accident might have suffered. Even if a car Read More

Understanding the Due Diligence Period in a Real Estate Sale

Let’s say you fall in love with a house at first sight. You’ve gone past crush, and this is love, which can come with all the potential pain of a human love story. Because just like in love, a background check of sorts – at least asking someone who knows – is an important way to get to know if the date, or the house, is worth pursuing, or if you will find out something you really didn’t want to know. That Read More

10 Examples of Real Estate Agent or Broker Fraud

When the housing market crashed in 2008, real estate fraud became a hot button issue with many assigning blame for the economic crash on fragile mortgage deals that forced the housing bubble to burst. For real estate agents or brokers, today’s real estate outlook is improving, but there is still the opportunity to unintentionally commit fraud while closing a real estate deal due to complicated laws that often side Read More

Real Estate Law 101: The Short Sale

A short sale is the process of selling a house for less than the value of the remaining mortgage balance on it. To illustrate how it works, let’s look at a hypothetical situation. You borrowed $350,000 to buy your home five years ago after it was appraised at that amount. You lost your job a few months ago and fell behind on your mortgage payments, making you wonder if you’re better off selling to eliminate the Read More

An Overview of Chapter 13 Bankruptcy

Chapter 13 bankruptcy is also known as the “wage earner plan” because it allows people with a stable and substantial income to restructure their debts and repay them over time. If you owe no more than $1,184,200 in secured debt and $394,725 in unsecured debt, filing for Chapter 13 can enable you to regain financial stability while protecting your cherished assets from seizure. The Advantages of Filing for Chapter Read More

Bankruptcy 101: An Introduction to Chapter 7 Bankruptcy

There are several types of bankruptcy available to individuals and businesses. Chapter 7 bankruptcy is the most common path for both individuals and businesses, although it is typically used by individuals. With Chapter 7 bankruptcy, debts are reduced and erased by taking inventory of your property and, with a few exceptions, selling it and giving the profits to your creditors. Of course, you can keep vital property Read More

Understanding the Difference Between Contested and Uncontested Divorce

You may have heard that all divorces are ugly and high conflict or that they take a very long time and are extremely expensive. However, many divorces actually occur because both members of the couple decide that it is time to separate for a variety of reasons. Even when the couple agrees to separate, they also have to work through all of the decisions that come along with a divorce, including property division, Read More