From the category archives:

1st Time Homebuyer

Ground Rents still in Anne Arundel Co.

November 16, 2011 1st Time Homebuyer

In 2007, Maryland enacted a series of laws intended to protect residential ground tenants from the loss of their homes as a result of failing to pay ground rent and, further, to facilitate the extinguishment and redemption of residential ground rent leases.  An impetus for the legislation was provided by a series of articles appearing [...]

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Lease with the option to buy

November 15, 2011 1st Time Homebuyer

When real estate markets slow down, and especially when mortgage financing becomes difficult to obtain, many buyers and sellers turn to lease options as a way to achieve their short-term real estate goals, while waiting for situations to become more conducive to engaging in a straightforward purchase or sale. In its simplest form, a lease [...]

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A quiz that is worthless

October 31, 2011 1st Time Homebuyer

This past weekend I saw a quiz on Zillow that tells a buyer how much they know about the home buying experience. Zillow Quiz Instead of taking the Zillow quiz answer these questions? If you answer yes to all of them you’ll be in good shape.   Do you trust your realtor to look out [...]

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New FHA Condo Rules

October 20, 2011 1st Time Homebuyer

Some are mad about the new condo rules for FHA. Here is what I have told some customers do you want to buy a condo in an area that has a lot of delinquencies or foreclosures. Look at it this way FHA is trying to protect you till the market turns around Tweet This Post

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Home Equity Insurance

October 17, 2011 1st Time Homebuyer

I found an interesting article about Home Equity Insurance. In my eight years of being in the mortgage industry I had never heard of it. It sounds nice but the best way to protect yourself is unless you’re going to keep your home for at least 5 to 7 years don’t buy a home. Coming [...]

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Is a short sale worth the hassle

September 27, 2011 1st Time Homebuyer

Processing delays have taken their toll on first-time homebuyer interest in short sales, which now account for more than one of every six house sales, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. First-time homebuyer purchases of short sales dropped to 39.7 percent of short sale transactions in August. That represented a three-month [...]

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How to Buy a Bank-Owned Home

July 12, 2011 1st Time Homebuyer

After watching this video buying a bank owned property isn’t so bad. Tweet This Post

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Why lowering the FHA loan limits are a good thing

July 7, 2011 1st Time Homebuyer

So how big a deal are the lower FHA loan limits scheduled for October 1st? According to a new study from George Washington University, not much. A new report by Robert Van Order and Anthony Yezer shows that “the FHA still could serve 95 percent of its historic targeted market even if the maximum FHA [...]

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If you can’t pay home repairs don’t buy

June 28, 2011 1st Time Homebuyer

Which is harder: saving for a down payment and getting a mortgage on your first house, or paying for maintenance and repairs after you buy it? If you think paying for maintenance and repairs is easier, you’re probably among the majority of first-time homebuyers — and wrong, housing experts say. “So many people who are [...]

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5 Tips to help you spot bad neighbors when buying a house

June 21, 2011 1st Time Homebuyer

After months of looking, you’ve finally found the house of your dreams. It’s the perfect size, the perfect price, and the perfect layout. However, there’s only one small problem. You think you might be living next door to a neighbor, or a neighboring property, that’s less than desirable. How do you know? The grass in [...]

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