Todays Real Estate

One of the most popular and helpful websites regarding real estate today is realestate.com. Their site offers a variety of different services; including finding a home by looking at a virtual map, providing community information about schools and other necessities, a home loan section and a home values section. The site also has guides on buying and selling, financing, moving and home and garden. They offer home sales in the major cities of Atlanta, Boston, Charlotte, Chicago, Dallas, Denver, Las Vegas, New York, Philadelphia, Phoenix, Portland, San Diego, Seattle, Salt Lake City, Tucson and Washington, D.C. Realestate dot com also offers home sales in 1,486 other cities, all of them can be viewed on their virtual street maps.

Their best feature, or article, on the site is their top 10 home buying mistakes. The following is their top 10 list:

1.Doing it alone.
2.Buying at first sight.
3.Not getting pre-approved.
4.Overbuying.
5.Misplacing your trust.
6.Relying on oral agreements.
7.Skipping the fine print.
8.Forgetting or betting on resale.
9.Making an unconditional offer.
10.Having buyer's remorse.

Realestate dot com also has a variety of articles regarding buying a house whether new or previously owned. Their articles deal with preparing to buy a home, finding a home to buy, finding a buyer's agent, a guide to buying a home, a guide to homeowner's insurance, a guide to homeowner's associations, a guide to private mortgage insurance, fixer-upper homes, investment properties, making an offer and negotiating an offer.

Realestate is an incredibly easy site to navigate and doesn't put a lot of fanfare of graphic flare on their site with flashing lights or moving graphics. They keep it simple and easy to find information throughout their site. Even though many websites feel that having flashing graphics attracts customers, it more often than not scares them away because it can be overwhelming.

When using realestate's virtual street view map, the prospective buyer can view the houses of their choice from the outside up close and personal; from the inside in various rooms like the kitchen, basement, bathrooms and bedrooms; from the sky to get an aerial view; from the house to the backyard and other different viewpoints. This feature is widely popular for prospective buyers because it allows buyers who are looking at houses not within their area code or their state to visually explore them before they decide to make a trip to the site. This is a great way to eliminate houses that buyers are no longer interested in.

Not only does the site provide pictures and pricing information for its listed houses, it also provides a detailed description of the amount of rooms in the house, the square footage of livable space in the house, what type of flooring is currently in the house, the features of the bathrooms, if there are any fireplaces, details of the garage(s) and outdoor features such as lighting and security features. Realestate dot com is a must-use resource for any prospective buyer looking to venture into real estate or looking to purchase a home to live in.

Real Estate Political Issues

Enjoy Financial Independence With Houston Reverse Mortgage

A house can mean a lot more to you than you imagined it to be possible. It is an asset and a security in the true sense and will surely be your best bet whenever you find yourself in any financial difficulty. Finances can be a major concern, especially for a retired individual and a senior citizen. The main issue here would be the lack of regular income at the end of each month. In such a scenario if any emergency arises then the only resort left with the individual would be to ask for a loan from family, friends or financial institutions. This is when your house can be your biggest financial security in case you are over sixty two and a house owner. A senior citizen can easily apply for a Houston reverse mortgage and reap the benefits by using his house as a security.

A Houston reverse mortgage has many benefits that rank it higher on popularity and preference than many other forms of mortgages and loans. Under the Houston reverse mortgage, the property continues to remain under the name of the original owner and therefore the right to sell the house is also intact with the owner. Also, the borrower does not have to repay his mortgage amount during his lifetime. The mortgage debt does not pass on to his heir in the event of the borrower’s demise. In case the borrower decides to sell off the property, the reverse mortgage would have to be paid off first before the money can be given to the owner or his family.

A drawback of the Houston reverse mortgage is the fact that the mortgaged property cannot be left to the heir of the borrower. However, in today’s day and age everyone is working towards building their own future and acquiring property through their own capability. Hence, not leaving a mortgaged house to your heir cannot be such a bad thing after all. Also the owner can continue to reside in the premises of the mortgaged house for as long as he wants, without repaying any mortgage amount. Only the regular costs of maintaining the house, such as bills and house tax, needs to be paid by the borrower. The house owner can also decide the manner in which he wants to receive the mortgage amount, whether as a lump sum or in installments.

Many senior citizens opt for the installment method, as it ensures a regular inflow of money for the day to day household expenses. Therefore, if you have mortgaged your house after retirement, you can continue to maintain your previous standard of living, thanks to the loan amount on the house. A Houston reverse mortgage, therefore, provides every senior citizen of America living in Houston, who is a house owner, the dignity of living independently till the very end of their lives. It ensures that you never have to ask for any financial support from any third party till the time you have your own house.

Get A Loan On Your House With Annuity Reverse Mortgage

A senior citizen who is sixty two years of age or above and has retired from active service is naturally insecure about his future in spite of well planned savings as the cost of living is ever increasing and what may be sufficient today may not be enough for tomorrow. However, if you are a house owner living in the United States, then you have the option of putting up your house as collateral and getting a suitable loan against it. The traditional forms of home loans require the borrower to repay the loan in monthly installments and at times also have restrictions on the manner in which the loan amount may be utilized. The biggest advantage for the homeowner is therefore, to opt for an annuity reverse mortgage on his or her house that will provide the maximum benefit on the loan money sanctioned to the borrower.

In an annuity reverse mortgage, you need not repay the loan through monthly payments and this in fact, forms a strong point n favor of this kind of loan. Also, the homeowner receives a tax-free payment each month as payment of the loan on annuity reverse mortgage. Also, you will never owe more than what your house is worth and hence this is major security for the home owner under the circumstance that he may not want to continue living on the mortgaged property and hence has to repay the loan in full settlement oft he mortgage. The borrower is also provided a line of credit through which he can withdraw whatever sum of money he requires up to the amount of loan. The regular inflow of monthly installments as payment of the reverse mortgage makes it easier for the senior citizen to use that amount as a monthly income even after retirement.

The advantage of an annuity reverse mortgage is that not only do you retain the ownership of the property you have mortgaged but you can also continue to live on the property for as long as you want. When you consider moving out of the mortgaged property you need to repay the mortgage in full that can be got from the sale of the house itself. It is easiest to opt for this form of loan when you do not have a source of income as you need not pay off the loan as long as you reside in the mortgaged property.

One of the most requirements to be fulfilled before you decide to opt for an annuity reverse mortgage is the collection of every financial information about such deals. Many fraud deals are being carried out in the name of such reverse mortgage where the homeowner ends up paying thousands of dollars just as the fees or as payment before you decide to sell the house. Many a times, owners are taken for a ride when they are made to pay a hefty sum for just gathering information on the reverse mortgage deals. Remember that all information on such deals are available freely with HUD and legitimate reverse mortgage lenders. So, update yourself about the requirements of the deal and then you ca safely go ahead and secure your financial future in old age through a mortgage on your house.

Nevada Reverse Mortgage

“Home sweet home”, throughout ages, we have felt and said the same about our home. Our home is a place where we know that we will find peace and tranquility. Moreover, knowing that it is our home, we know that we are bound to feel secured and save. Therefore, a known fact is that our home is the best place and it is indeed our place. In addition, we generally do not realize is that our home can be more than just a place, probably our best place. It is our true friend and a friend that can help us and be with us whenever we want it to stand by us. Through the help of Nevada reverse mortgage, any senior citizen, who is need of money, can put his or her house on mortgage and get the money to meet any emergency or to meet some financial requirements. Therefore, with the help of this policy we do realize that our home is not just a refuge or a place where we feel secured and save; in fact, it is a friend that would always stand by us whenever we feel the need.

Reverse mortgage is a financial transaction where in a senior citizen can put up his pr her house or a part of the property as the collateral and can get a lump some money against that. The concept of reverse mortgage was introduced by the HUD (department of housing and urban development) keeping in mind the problems that a senior citizen faces. With old age comes in a lot of problems and this is mainly because their monthly income stops. Retirement is one of the most problematic things if proper preparations are not made on time. The Nevada reverse mortgage has been designed keeping in mind the problems that a senior citizen of this particular place may face.

There are some criterions, which need to be fulfilled if one wishes to opt for this policy. The person who wants to opt for a Nevada reverse mortgage needs to be of the age of minimum sixty five years of age and should have a house or a property on his or her name. Once these criterions are fulfilled, the person can opt for this policy. The best part of this policy is that even though the house is put up as the collateral against the loan amount, the person can still continue to live in the house until the time he or she wishes to. However, he or she needs to pay the regular maintenance cost of the house and the other expenses.

However, one minus point about a Nevada reverse mortgage is that the owner of the house cannot sell the house or cannot give the house to an heir because after the demise of the owner of the house, the house is taken by the agency, who further sells the house to get the loan amount back. However, whatever said and done, this is indeed a helpful policy for any senior citizen who is facing some financial crisis and does not know from whom to get the help.

Reverse Mortgage Wholesale Loans

A reverse mortgage wholesale product is not directly available to you as an applicant for a reverse mortgage. It is sold to a lender at a discounted (wholesale) interest rate, and the lender then offers it to you after adding points to the rate.

Sources Of Reverse Mortgage Wholesale Loans

There are only three organizations who sell reverse mortgage wholesale products; Fannie Mae; the Federal Housing Authority (FHA); and the Financial Freedom Cash Account. The loans from each of these entities vary in their available payment alternatives.

The FHA reverse mortgage wholesale product is called the Home Equity Conversion Mortgage, or HECM. The maximum you may borrow against your home in this program is about $360,000, but your limit will depend on your home’s location. The HECM is the reverse mortgage wholesale product underlying over 90% of all US reverse mortgages.

Both the FHA and HUD--the Department of Housing and Urban Development--guarantee FHA reverse mortgage wholesale loans. The guarantee means that the borrower is assured of getting the amount promised, and that the lender is assured of getting the entire principal and accrued interest when the loan is terminated, even if the home is sold for less than that amount.

Fannie Mae guarantees its Homekeeper reverse mortgage wholesale loans, which will allow you to take up to $417,00, and is somewhat unusual in that Fannie Mae allows you to use the proceeds from your existing home to purchase a less expensive one. Although Fannie Mae is not run by the Federal Government, the amount of business they do, and the strict regulations to which they must adhere make their guarantee of their reverse mortgage wholesale loans as solid as those of the FHA and HUD.

Both FHA and Homekeeper reverse mortgage wholesale loans are available in all fifty states.

Financial Freedom Cash Account reverse mortgage wholesale products from a subsidiary of Shearson Lehman are designed for homeowners wanting to borrow against high-value homes, usually with a minimum appraised value of $500,000. There is no limit to the amount which can be borrowed with a Financial Freedom Cash Account loan, and the loans are privately guaranteed. They are, however, only available in twenty-four states.

Where To Find A Reverse Mortgage Lender

Because you, as an applicant for a reverse mortgage, are not eligible to get a reverse mortgage wholesale loan, you should comparison shop among reverse mortgage lenders to find the ones who offer the lowest markups on their products. You can find a list of reliable lenders in your state by doing a search at the National Reverse Mortgage Lenders Association--NMRLA--website.

Once you start looking for a reverse mortgage wholesale through LLS Financial or any other company, you will quickly start to see a trend. You want to check on how quickly each of these reverse mortgage companies will be able to approve you. Typically a loan takes a couple of weeks to process – but when it comes to a reverse mortgage wholesale you should be able to have your reverse mortgage in hand within twenty four hours

How Does a Reverse Mortgage Work

The passing of the American Homeowner Ownership and Economic Opportunities Act of 2000 Section 201 has now provided senior citizens further financial aid through the form of a reverse mortgage. Of all the different age groups that are eligible to take out some form of financial aid, it is the senior citizen age group that requires the most financial assistance yet have the least amount of options. This is because majority of those within this age group have already retired and only rely on their savings and pension as a source of funds to help them live out their remaining years. Through the introduction of the reverse mortgage, senior citizens have now been given the opportunity to get the financial aid that they need for medical care, home improvement, and the like.

This has been made possible because of the fact that unlike traditional forms of mortgages and loans available in the market, reverse mortgages are exempted from any tax obligations and the responsibility of the payment falls on the financial institution or creditor. Senior citizens who have been granted a reverse mortgage are not required to make any form of repayments to the financial institution or creditor for as long as one or both senior citizens remain to live in the home whose equity has been used.

If you are considering taking out a reverse mortgage, there are a few requirements you would need to present when you go to a creditor or financial institution. Here are the requirements that you would need.

Age Requirement

According to Section 201 of the American Homeowner Ownership and Economic Opportunities Act of 2000, the reverse mortgage is available only for individuals who are at least 62 years and above. You may be able to apply for a reverse mortgage if you are below 62 years of age provided that your spouse has met the minimum age requirement. This is because the conditions stated in the American Homeowner Ownership and Economic Opportunities Act of 2000, once it is proven that at least one spouse is at least 62 years of age and above, both will become eligible to take out a reverse mortgage.

Home Equity

The equity value of your home is its fair market value minus any existing loans that you may have taken out. In order to get the home equity value of your property, you would need to attain the services of an appraiser. For your home equity to also be eligible, you must be in ownership of a permanent type of property such as single house, an apartment or condominium. If you live in a mobile home or a trailer, you would not be able to qualify for a reverse mortgage.

Length of Stay in Home

For you to be eligible for a reverse mortgage, you need to have stayed in your current residence for at least one month. This is the period of time that financial institutions and creditors would consider you to have a permanent residence on the home whose equity would be use towards the reverse mortgage that you are planning to take out.

Home Equity to be Applied Must be Primary Place of Residence

If you have been fortunate enough to be able to purchase a vacation home, you would not be able to use this towards the reverse mortgage that you are planning to take out, even if you meet the one month stay period requirement and the home equity is a lot higher than your primary residence. This is because the reverse mortgage can only utilize the home equity of the house that you have stayed most of your life with, which is your primary place of residence.