Good Morning!
I've written you about this before, but I wanted to touch on it again today.
I ran into this issue just 2 days ago - and I wanted to share with you how to roll repairs into a purchase price.
If you are buying a house that needs minor repairs - but the seller refuses to do them - what do you do?
This situation happens a lot, especially on bank owned homes.
The simple answer is to use an escrow hold back. ...an escrow hold back is a small amount of money that is held out of the seller's proceeds from the sale to make the repairs.
You have to write the escrow hold back right into the contract - under special provisions. To avoid having to rewrite this clause - be specific. Your realtor will need to write - "An escrow hold back in the amount of $______ will be used for (specific) repairs."
One key with the escrow hold back is the repairs need to be minor - and they can't take that long to finish. ...an average amount of an escrow hold back is $1,500 to $3,000.
Knowing how to solve minor repair problems on an offer - can sometimes make the difference between getting a great deal on a house, or not buying it at all.
If this situation comes up with your deal - just give me a call - I can help you out.
Thanks for reading! ...and, have a great day!
Brett
Thursday, September 22, 2011
Monday, September 19, 2011
A Very Simple Way To Reduce The Number Of Years On Your Mortgage...
Good Morning!
This may sound funny coming from a mortgage guy, but sometimes it's not necessary to refinance your mortgage to reduce the number of years left on your mortgage.
I have to tell people sometimes that it just doesn't make sense to refinance. The drop in rate isn't significant enough to warrant the costs of the refinance.
...but, what do these people do when they want to refinance to reduce the number of years on their mortgage?
One simple thing you can do is simply pay more each month on your current payment.
I'll give you an example...
On a $100,000 30 year mortgage - if you just add $120 to your payment every month you will pay your mortgage off in 20 years.
...If you add $250 to your payment on a $100,000 30 year mortgage you would pay the mortgage off in 15 years.
Easy right!
That's it for today!
...by the way if you know of someone needing to be prequalified for a mortgage loan - I appreciate your referrals!
Thanks for reading! ...and, have a great day!
Brett
This may sound funny coming from a mortgage guy, but sometimes it's not necessary to refinance your mortgage to reduce the number of years left on your mortgage.
I have to tell people sometimes that it just doesn't make sense to refinance. The drop in rate isn't significant enough to warrant the costs of the refinance.
...but, what do these people do when they want to refinance to reduce the number of years on their mortgage?
One simple thing you can do is simply pay more each month on your current payment.
I'll give you an example...
On a $100,000 30 year mortgage - if you just add $120 to your payment every month you will pay your mortgage off in 20 years.
...If you add $250 to your payment on a $100,000 30 year mortgage you would pay the mortgage off in 15 years.
Easy right!
That's it for today!
...by the way if you know of someone needing to be prequalified for a mortgage loan - I appreciate your referrals!
Thanks for reading! ...and, have a great day!
Brett
Wednesday, September 14, 2011
Unbelievable Deal On Credit Repair...
Good Morning!
I'm a loan officer, and I don't work in the credit repair industry.
However, I do recommend companies to my clients. There's one company in particular that I have seen do great work time and time again.
They used to charge $499 per person for their services.
I'm excited to tell you that this company now has a new pricing plan that's much more affordable!
...It's just $139 down, and $39 a month!
...That's a good price!
I had written you about this company a couple of years ago. Here's more detail about them from that post...
We've all heard the horror stories about credit repair. ...Heck, I've seen them first hand.
I've heard every story in the book... "I gave that credit repair crook $1,000, and six months later my credit is worse than it was before!".
...or "I gave that company $1,250 to repair my credit and now they aren't even in business anymore!"
I know you have these fears too...
· How do I know this company is reputable?
· Is this going to cost me an arm and a leg?
· What if the credit repair doesn't work and I'm just out that money?
The good news is after all these years I finally found a company that I can refer my clients to for credit repair that actually does what they say they will do!
...and if you don't like it - they give you your money back!
Here's why I feel comfortable referring them...
· You don't have to worry about dealing with crooks! ...They're reputable! ...They have an "A" rating with the Better Business Bureau.
· You won't ever have to worry about losing your money! They have a money back guarantee if you're not satisfied!
· You get your money's worth! Most companies work on your credit for 2 to 3 months and that's it. ...This company will work on your credit up to a year at no extra charge!
· You don't have to wait long! ...They usually get significant results within 45 days.
· You can see everything! ...You can log on every day and see exactly what's going on with your account. What's been removed and what hasn't... yet.
· You can talk to a credit restoration expert about your credit whenever you want for as long as you want!
If you want to get your credit restored fast from a company you can rely on - I encourage you to click here now.
Please contact me if you have additional questions.
Thanks for reading! ...and, have a great day!
Brett
I'm a loan officer, and I don't work in the credit repair industry.
However, I do recommend companies to my clients. There's one company in particular that I have seen do great work time and time again.
They used to charge $499 per person for their services.
I'm excited to tell you that this company now has a new pricing plan that's much more affordable!
...It's just $139 down, and $39 a month!
...That's a good price!
I had written you about this company a couple of years ago. Here's more detail about them from that post...
We've all heard the horror stories about credit repair. ...Heck, I've seen them first hand.
I've heard every story in the book... "I gave that credit repair crook $1,000, and six months later my credit is worse than it was before!".
...or "I gave that company $1,250 to repair my credit and now they aren't even in business anymore!"
I know you have these fears too...
· How do I know this company is reputable?
· Is this going to cost me an arm and a leg?
· What if the credit repair doesn't work and I'm just out that money?
The good news is after all these years I finally found a company that I can refer my clients to for credit repair that actually does what they say they will do!
...and if you don't like it - they give you your money back!
Here's why I feel comfortable referring them...
· You don't have to worry about dealing with crooks! ...They're reputable! ...They have an "A" rating with the Better Business Bureau.
· You won't ever have to worry about losing your money! They have a money back guarantee if you're not satisfied!
· You get your money's worth! Most companies work on your credit for 2 to 3 months and that's it. ...This company will work on your credit up to a year at no extra charge!
· You don't have to wait long! ...They usually get significant results within 45 days.
· You can see everything! ...You can log on every day and see exactly what's going on with your account. What's been removed and what hasn't... yet.
· You can talk to a credit restoration expert about your credit whenever you want for as long as you want!
If you want to get your credit restored fast from a company you can rely on - I encourage you to click here now.
Please contact me if you have additional questions.
Thanks for reading! ...and, have a great day!
Brett
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