It's amazing that in a year with extremely low mortgage rates being reported around the country, closing costs are up by as much as 6% from the previous year. Part of the reason for this is that the stricter regulations on loans have increased the costs to banks, and they always find a way to pass on new costs to the consumer.
Today, the housing market is as hot as it has ever been. There are many people who are missing out on their dream homes because they are having a hard time competing with countless other people who are in the same position as them. If you want to put yourself in the best position possible to win a bidding war, you might be thinking about paying cash for your home; however, not everyone is in the same financial position. There are a few other ways for you to show a seller's agent that you are serious about your offer.
If you are thinking about refinancing your home in the near future, you probably know that this is a great way to shorten the term of your mortgage while also saving money. At the same time, refinancing your home does not come without risks. Take a look at some of the top things you should do and what to avoid before you go through the refinancing process.
Last week's economic reporting included readings on home sales, Fed Chair Jerome Powell's testimony on monetary policy to the House Financial Services Committee, and the University of Michigan's Consumer Sentiment Index. Weekly reports on mortgage rates and jobless claims were also released.
It may feel like a very daunting task to consider buying a home after you've declared bankruptcy, and there's no doubt that it's an uphill battle. Fortunately, while you'll have hard work ahead, there are things you can do in order to make your dream of home ownership a possibility. Whether you've just declared bankruptcy or some time has passed, here are some things you should consider before getting into the market.
If you are looking for a way to diversify your investments, you might be thinking about buying a rental property. One of the most common rental options is AirBnB.