Tuesday, November 15, 2005

Get a better mortgage refinance deal than your local bank offers by Mansi gupta

Gone are the days when money could be fetched either by mere mortgaging or financing something. Now it is time to get money via an amalgam of the two i.e. Mortgage Refinance. Mortgage refinance is a smart idea to have a good credit sum and repay it in an easy fashion. In simple terms a refinanced mortgage is one where a borrower repays a previous loan by taking a new one. The main motive behind refinance mortgage is to get a lower interest rate, lowering their payments or to take cash out of their home equity. So basically in mortgage refinance refers to taking a secured loan to replace the existing loan that is secured via some assets of yours.

Let us first delve into the factors that instigate a refinanced mortgage. There are several reasons that instigate people to opt for refinance. For instance

(a) Mortgage refinance reduces the interest rate on your mortgage. It not only minimizes your EMIs or monthly installments but also brings down the total amount that you need to repay.

(b) Another wonderful feature of mortgage refinance is the reduction in the tenure of the loan, which is immensely effective in saving lot many bucks.

(c) Mortgage refinance is a smart idea to consolidate or fuse the amount you need to repay.

(d) Mortgages refinance serves you with the most essential thing i.e. cash in hand. You can draw on an equity built up in the house to acquire cash amount for several purposes such as your daughter's marriage, child education etc.

(e) If you want to have an adjustable-rate mortgage i.e. ARM and a fixed-rate loan in order to ensure you regarding the mortgage payment, mortgage refinance is a brilliant idea.

However there are other things to be taken into consideration. First and foremost mortgage refinancing can be recommended if the present rate on your mortgage is at least 2 percentage points higher than the existing market rate. Second you need to know that for how long you propose to stay in the house. Third you need to know that according to many sources given the costs of refinancing, it takes at least three years to realize completely the savings made from a relatively lower interest rate. Finally in order to go for mortgage refinance is to enlist complete expenditure of refinance and calculate your monthly installments. Knowing this will enable you to decide whether you should opt for refinance or not.

Well before going for a mortgage refinance you can also ask yourself questions ponder over questions such as- by how much will your existing monthly installment be lowered, what will be the financing cost that you will have to pay, how much will you owe in the house and for how much was the initial payment for the house made etc. Once after going through the various factors and conditions you feel it is appropriate to go for a mortgage refinance (which is true with most of the cases) then the first step is to consult a good real estate agent, mortgage lender as well as an attorney and other legal practitioners. Searching online is even an excellent option.

About the Author
Mansi gupta writes about mortgage refinance .

How to Protect Yourself from a Real Estate Bubble by Buying Foreclosures by Tony Lorenzo

It's not really a matter of "if" it's really a matter of "when" this run-up in housing prices will stop. It's difficult to exactly time any market but as home sales continue to climb prices should follow. When supply exceeds demand, well, you get the picture. There are some areas of the country where home prices are more outrageous than others, so some areas may be harder hit than others. With that said, let's look at some ways of protecting ourselves from this inevitable misfortune: For home-owners who plan on living in their homes, first and foremost, you need to get over thinking of your home as an investment. Unless you have substantial equity built up, any downturn in home prices could make you upside down on your loan, making you owe more than your home is worth, which would mean you have a balance due on your loan if you tried to sell it. If you plan on living in you home for the long term, this wouldn't be so bad. If you only plan on living in a home for a few years you may want to consider renting for a while. Building up equity in your home is easier than you think. For one, stay away from adjustable rate mortgages. As interest rates climb, so will your payments. This isn't a fun thing to see while your home value is decreasing. Next, get a copy of your amortization chart from your lender, which shows how much of each payment is interest and how much is principle. The principle is usually a very small amount compared to the interest, in the earlier years. Take next months' principle and add it to this months' payment and it will actually knock one months' payment off the life of your loan! You will have to request a new amortization chart when you make your next payment because your loan will be re-amortized. If you are a first time homebuyer, put down as big of a down payment as you can. Buying an overpriced home with a small down payment leaves you vulnerable to a downturn in housing prices. Without a big down payment you should consider renting for a while, unless you can get a house at a steep discount. The best way I know of to buy a house at a steep discount is to buy foreclosures. Foreclosures offer the best chance of buying a house at a steep discount and therefore protect yourself from any downfall in price.

About the Author
Tony Lorenzo has written sveral articles on a variety of subjects. This article on the REAL ESTATE BUBBLE compliments his website that helps people gain valuble information about FORECLOSURES

Choosing A House Plan For Your Dream Home by Amber Lowery

First things first, when choosing a house plan you must first find the land that you will be building on. Not all designs will look right or even fit on certain lots, so in order to insure that your

dream home will be a good fit for your lot, you must first purchase the land on which you will be building.

When purchasing the lot, you have several things to consider.

Location - As the real estate agents say - "location, location, location". Whenever you are dealing with Real Estate, the location is a very important factor in deciding for or against a particular lot. You will of course want a lot that is within a reasonable distance from your place of business. If you have children or plan to, you will want to research the schools as well. Also, you will want to make sure that the land that you are investing in is going to rise in value. Investing in land in an

area with upward growth potential is a great way to insure the value of your property will rise.

Budget - Your lot must fit within the budget you have set for yourself. You must also take into consideration whether you are purchasing "raw land" or whether the lot has already been prepped for building. A piece of property can initially seem like a bargain until you later find out that allot needs to be done before you an get a permit to build.

Community - You want to choose a community that has zoning laws that allow you to build the type of home you are planning on. Some communities have home owners associations that may need to first approve any improvements you want to make on your land. If this will bother you, you nay want to seek

out a lot that is not under the jurisdiction of such associations.

Once you have purchased the land that you plan to build on, you are ready to select a house plan for your dream home. If you are looking to purchase a pre-made home plan, you may have to make some small compromises as your ideas may not fit into what is available. Another alternative is to purchase a pre-made house plan and later have it modified to suit your particular needs and tastes by a architect. Do know that this will not be without a rather sizable expense, however it may still be more cost effective than if you were to have a plan built from scratch.

When choosing a house plan, you will want to keep in mind several key points...

Your Families Needs - If you have children, you will have additional considerations than singes or retired people. You will need to know how many bedrooms and bathrooms your family requires. Do you need a playroom for your children? Do you or your partner need a home office room? Now is the time to think towards the future and the upcoming needs of your family. When in doubt, build bigger. Nothing could be worse than building the home of your dreams only to find ten years later that it no longer is suitable for your growing family. Talk with your partner and decide now what your family needs may be and plan accordingly.

Building Code - As with anything, you can expect to face a significant amount of red tape as you plan to build your dream home. You need to talk with your contractor and make sure that the house plan that you choose will not conflict with your local zoning laws and home owners association rules and regulations.

Budget - You should know by now how much house you can afford. Don't sway from the initial budget that you have set for yourself. There is a wide selection of unique and architecturally stunning house plans within every size range.

Style - You probably already have in mind the style of home that you want. If not, browse thru some pre made house plans to get an idea of what type of style you and your partner like the best. Try to picture the different styles on your lot. Does it look like a good fit?

As you can see, choosing a house plan for your dream home is a fun, but serious matter. Try to plan ahead at all times and think towards the future. It takes allot of work before you even break ground, but in the end it will all pay off when you are left with your own dream home.

About the Author
This article was written by Amber Lowery for Home PlansOnline. For even more great articles on home plans, or to search for a pre madedream home plan for your project, visit http://www.homeplansonline.net

5 Ways To Advertise Your Real Estate Business by David Riewe

With the introduction of new products and the growth of the purchasing power of the people continually escalates, it can be said that the advertising industry became fully energized. That's why even with the dawn of the new technology, advertising still continues to dominate the business world. As most business people asserts, business can never succeed without advertising.

And so, in the real estate business, advertising remains to proliferate with more ways that could increase productivity.

However, for those who still don't know how to maximize the potential of advertising in increasing their real estate sales, here are some ways to brood over:

1. Web site listings.

Real estate businesses may consider the benefits of advertising their products or services online. In this manner, they could even increase their market share by accessing those who cannot be reached by simple ways of promotions and advertising.

People behind the real estate business may choose from the different web site listings available in the Internet today.

2. Search engines registration.

Real estate businessmen may also opt for the sear engines that are available in the Internet. With a reasonable amount, real estate businesses may promote their products online and may get more exposure through search engines. Two of the most common search engines are Google and Yahoo. So, if the business is listed at these sites, chances are they'll reap more profits than they could imagine.

3. Banner ads.

Banner ads are those ads that appear on top of a certain sponsoring website. It contains the business' name and the hyperlink that connects the customer to the business' site.

In this way, real estate entrepreneurs may take the chance of increasing their exposure online by letting the people know that they exist.

4. Emails.

Real estate businesses may also resort to this kind of advertising. Though, special considerations should be made when constructing emails so that it will not be categorized as spam.

Also, to maximize the use of this advertising technique, the real estate business must also have an email list of their potential buyers.

5. The basics.

It still pays to be traditional. In fact, one of the best ways to advertise a product is to use the traditional method of advertising - the print and the broadcast advertisements. There are people who would rather see the ads on television or in newspapers than online.

But whatever type of advertising a real estate business use, one thing is bound to help them boost their sales and profit. It just needs the skill to decide which would go best with the business.

About the Author
David Riewe is a Publisher and Online Marketer. Visit his Real Estate Blog Save $$$ Selling Your Own Home FREE eBook Shows You How! http://www.push-button-online-income.com/realestate

How to Deal with a Noisy Neighbor by dan the roommate man

Your heart starts pounding... breathing becomes labored, and your head starts to ache. You wipe the sweat from your forehead and try to gather your thoughts. Have you just had a heart attack? Not at all. This is your body's reaction to excessive noise.

"Studies of the physiological and psychological effects of noise...indicate that protracted noise can impair one's hearing, dry the mouth, dilate pupils, raise cholesterol, elevate blood pressure, burden the heart. Constant noise can bring on irritability, depression, aggression. It can interfere with the learning ability of children," N.R. Kleinfield writes in the article New York Quiet? Never. Quieter? Maybe. Listen up. published in the New York Times.

Apartment renters are even more susceptible to hearing loss because the noise levels are intensified in smaller spaces. Once sound enters the apartment, the wall connecting you to your neighbor vibrates - acting like a giant speaker.

If you share a wall with a noisy neighbor, you should take these steps - in order - to try and solve the problem:

1. Tell the neighbor - politely - that you can hear their stereo/TV/voices/running screaming kids/etc. There's a good chance they don't realize that they are being too loud. Ideally the problem will be fixed, and you can rest easy. Write down the date on which you confronted your neighbor - you never know when you might need it again.

2. If you receive a negative response, or no response at all, approach your neighbors again, but this time supply them with a copy of your lease. Chances are, there is a clause within the lease stating your right to "quiet enjoyment." You might also give them a copy of your local noise laws. Sometimes there are fines for excess noise. You can find your local noise laws at city hall, a public law library or the public library. Give your neighbor one dated copy of the lease and/or ordinance laws and keep a second copy (these are good for your records if the problem continues.)

3. No luck? This time you'll need to give your neighbor a letter informing them that you are willing to take this problem to the landlord. A letter might look like this:

Dear Suzy Neighbor,

On January 5, 2000, I talked to you about the excessive noise coming from your apartment. I informed you that the Twister Parties lasting until 5am violate the local noise laws, the lease, and disrupt my sleep. I asked if you would please lower your volume or else move the parties to a more reasonable hour. This request was ignored, and on January 11, 2000, I provided you with a copy of the local noise laws and our lease - both of which provide me with a right to "quiet enjoyment." Once again, my request has been ignored, and if by January 20th, nothing has changed, I will need to approach the landlord with this problem. I hope we reach an agreement before I am forced to contact the landlord.

Thank You For Your Time, Joe Tenant

4. Still no luck? It's time to tattle. No one wants to be the Narc... but this may be the only way to live peacefully. Make a copy of the letter, and discuss the problem with your landlord. For additional support (and so you don't feel like such a tattle tail) you might want to ask your other neighbors if the noise is bothering them, too. You might be able to get a petition signed by the other neighbors, and arguing with a group will typically lead to faster results. Regardless of whether or not you can get support from your neighbors, if the noise is bothering you, don't just learn to live with it! Living with excessive noise could actually be a threat to your health.

Once the problem is in the landlord's hands, you can de-stress a little bit. It's amazing how quiet those parties will get once the host has to worry about eviction! And if the noise-maker doesn't listen to the landlord, maybe your new neighbors will respect the "quiet enjoyment" law a little better than the last ones!

About the Author
Since 1989 dan the roommate man has helped 1000's of people find rooms,apartments or roommates. Need help? Contact him at 800-487-8050 or www.rooommateexpress.com

Things To Know About Realtors by Sintilia Miecevole

A realtor is the designation accorded to a member of the National Association of Realtors (NAR). NAR is the largest trade association of America. It has about 1 million members. The membership to the association is voluntary therefore it contains many other group members apart from the realtors. The idea behind the formation of this union is to utilize the land in a wise and best possible way.

The real estate professionals who are members of the NAR have to adhere to a code of ethics. The code of ethics is inclusive of duties to clients, customers, public and other realtors. The main motive is to promote the best interests of the client, be it the buyer, seller, landlord or tenant. The realtors are expected not to mislead their clients in order to book higher profits. The realtor is entitled to represent both the parties, seller and buyer; and landlord and tenant in case of full disclosure to both of them.

It is mandatory for the realtors to submit the offers and counter-offers as soon as possible. The realtors are not supposed to disclose information about the clients, which works to their disadvantage, or in case a third party stands to benefit from that information. However, realtor can disclose confidential information in the following cases: upon consent of the clients or the order of court or to disclose the ulterior motives of the client or to defend themselves against wrong accusations.

The clients should know the fact that the fees for preparing appraisals or valuations do not depend upon the amount of appraisal or valuation. Although realtors are expected to avoid misstating the facts or hiding useful information it is not obligatory for them to find out the defects in the property. Hence it is important to get the property checked by a third party inspector.

In case the realtor seeks information from other realtors it is mandatory for them to disclose their realtor status and clarify the nature of interest, whether it is personal or on the behalf of a client. The realtors are not supposed to misrepresent the availability of access to a particular property. When acquiring properties from their immediate families or friends the realtors have to disclose their true position to the concerned parties.

You are entitled to know the financial fee or benefits that the realtors get on the basis of recommending real estate products or services such as insurance or mortgage financing. The realtors are expected to give equal services to every person regardless of their race, color, religion, sex, handicap, familial status, or national origin.

About the Author
Click on to http://www.realtorv.com and join host, Sintilia Miecevole on a most resourceful site about a realtor; agents, brokers, properties, houses for sale, foreclosures amd much more. Visit http://www.realtorv.com to further your realtor information.