It’s not uncommon for homeowners across the nation to be “underwater” in their mortgages - meaning that they owe more on their home than what it’s worth. Largely in part due to the mortgage crisis and subsequent dropping home values, having negative equity can cause problems for homeowners who want to sell their home, but are unable to come up with the cash to pay the difference between their current loan balance and their home’s value in the current real estate market.
A recent RealtyTrac survey..
Formed by Congress after the 2008 housing bust, the Consumer Financial Protection Bureau (CFPB) is responsible for creating new regulations designed to lower the rate of defaults and foreclosures across the country. In January of this year, the CFPB implemented the newest set of rules designed to protect homeowners from harmful mortgage practices.
These new mortgage regulations apply to all Florida homeowners with an active mortgage. Under the new rules, mortgage servicers are required to:
Send monthly statements that clearly indicate the balance due, as well as the amount credited to the loan’s..
Safety Tips For Selling Your Home
When your home is on the market, it’s easy to become preoccupied with getting it sold without giving much thought to staying safe while doing so. While there’s no reason to be overly fearful about the process of showing and selling your home, the fact that numerous strangers are likely to be touring your home makes it prudent to keep some basic safety tips in mind. Whether you’re doing a FSBO (for sale by owner) or have a realtor helping you sell your home, the below guidelines will help minimize the chances of theft or vandalism, keeping it a safe experience for all involved.
What Home Improvement Projects to Spend Money on If You’re Selling Your Home
If you’re looking to sell your home, you’ll want it to look its best. This often means spending some money on improvements and fixes before putting it on the market. However, it can be difficult to determine which home improvement projects are worth investing in before listing your home for sale.
The answer isn’t the same for everyone. You’ll need to consider factors such as your neighborhood, similar homes for sale, and the local housing market when deciding which improvements are most..