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Posts Tagged ‘home’

The Long Mile Of The Mortgage Modification Business

November 6th, 2018 Comments off

Who is there to Help Those Who are Called to Provide Help? I work at a Foreclosure Defense Law Firm which happens to also engage in the practice of Loan Modifications. I am not an lawyer nor am I here to provide or imply legal advice. The Loan Modification & Foreclosure Defense business has gotten a bad rap due to some rotting apples in the bunch but there are some of us who actually care about what we do.

It’s terrible that myself and others are subjected to the very inaccurate and fictitiously skewed perspectives that is constantly broad casted by the media without conscience to the patriotic men and women who give up valuable time with their own families in an effort to restore stability to families. The Broadcasters as a whole has been quick to tell stories that tell of bad lenders and what were once prominent mortgage lenders now well on their way to becoming cell mates at local and federal correction institutions nationwide.

But what about people like myself, people with a sincere, moral, and ethical motivation to assist their fellow Homeowners in saving their American Dream? It is amazing to see how many of us really do have an impeccable work ethic and are passionate about aiding homeowners in distress.

Not only do we deal with the bad Info of the self serving and often relentless broadcasters but many of us are faced with a tragic and sometimes devastating dilemma, the mortal fact that we are exactly that, we are only human. In my personal experience it has become difficult at times to walk away from my job at the end of the day. Every day at the Law Firm it seems there is a more horrible or unjust case than the last, but still they seem to keep coming, almost as if there were no end in sight. For anyone with a heart or anyone who is truly undaunted in their faith, although it can be spiritually and financially rewarding at times, the Foreclosure & Loan Modification business can become truly draining after prolonged exposure. To the credit of those who possess the inner strength and choose to answer the call of servant leadership, I am writing this to acknowledge the truth behind the old saying “Never judge a man until you walk a mile in his shoes.” and to add that “working a day in his suit might not be a bad idea either”.

During the course of our own personal disasters, there is a lot to be said for the idea of taking a marginal step back, and away from the situation or stepping outside one’s self to reflect for a moment that there are many variables in every equation and sometimes all is not what it seems. This is the moral of the story, to better illustrate I will share something with those who took a moment to look a little further into this article. judging my intentions based on my statements is that I and the majority of our clients could actually be considered one and the same if you were to make a generalization or attempt to categorize me.

mortgage What do I mean by that? What I am making an effort to convey is that sometimes it seems like the worst enemy a borrower can have in the courtroom is not the Lender threatening to take back the house and not even the Law Firm representing them. The worst enemy that many Homeowners face while facing a possible or impending Foreclosure is the enemy they find staring back at them in the mirror each day. That enemy is Homeowners themselves, in my experience it seems to be the most common recurrence among cases I have seen during my time working in the Foreclosure Defense industry. Homeowners and in many cases family members alike are so concerned with getting cheated that in reality they wind up cheating themselves. In conclusion I will provide you with the missing material fact which should re-calibrate even the most skeptical perspectives. In approximately 30 days from today I will be going before a judge in an effort to save my own home from a pending foreclosure which I have fought long and hard to overcome. The truth is that was my original reason for getting involved in the industry, I did it to find a solution for the Foreclosure that has been looming like a dark shadow of unknown demise over my own life. You see I too share all the same concerns and all the same fears as so many other American Homeowners do in this country today. You wouldn’t believe how often people misconstrue the sincere empathy and sense of urgency which I often tend to convey. Many misunderstanding what they sense immediately defaulting to the negative which has been cultivated by our society today. This almost automatic defense system has left many Homeowners and their families almost completely defenseless and unable to protect their homes due to their inability or refusal to act. I also have been fighting to save my last and final property that I own and live in. So in final it is with great sincerity that I offer this humble opinion. Never judge a book by it’s cover because it might end up costing you more than you thought it would ever be.

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Property Development Course: How To Buy a Fixer-upper House

October 14th, 2018 Comments off

Many people enjoy buying fixer-upper houses. They love the challenge of remodeling an older house and making it into a showpiece. Some of these houses, if renovated properly, can sell for much more than you originally paid for them. They can be quite profitable if the house is structurally sound and the location is good. Other people buying fixer-uppers do it because they cant afford an expensive home. They arent looking to remodel and then sell the home because they plan to live in it. As long as you know what to look for, you can get a good deal on older houses needing minor repairs. However, if you get stuck with one that has major problems, it might not be worth the price you paid for it. This article will address some of the issues associated with buying as is houses and will point out some things you should expect as a result.

Be aware that, before buying an older home, you will need to get it inspected. An inspection is not included as part of the appraisal but is a completely separate process. The home must be inspected for structural defects, roof condition, plumbing problems, and potential termite infestation. Major problems such as these will be uncovered during a complete home inspection performed by a professional. Some lenders require than an inspection is performed but even if they dont, you should require one yourself. After an inspection, you will be given a list of existing and potential problems. Some problems may be so expensive to repair that you might not find a lender willing to finance the home for you. If you still want to purchase after finding a major problem, you should be able to get the price significantly lowered.

Minor problems include worn carpeting, chipped paint, peeling wallpaper, and rotting deck or porch boards. Problems such as these can be used as negotiation tools for a lower price. You can easily remedy these minor details.

Should you find problems that you want the seller to fix, then you need to make sure it is stated in the contract. Once it is stated there in black and white, the seller must comply with your wishes. It might be useful to you to have the needed repairs explained in the appraisal contract. Most lenders will lend according to the appraisal or the original purchase price. If there are problems warranting a lower sale price, then it would be helpful to you for it to be stated in the appraisal.

If the seller agrees to lower the price a certain amount for a particular problem that needs repair, then the seller may ask that the repair wait until after the official closing. This does not mean that you will get the money to make the repair but instead that the total price will be lowered by that amount. You will not be given the money to make the repairs in this case. You must pay out the money yourself. If you dont have the money to make the repair, then dont sign an agreement of this type. Keep negotiating until you are satisfied.

As stated, you can find some very good bargains by buying fixer-upper houses. You just need to be very careful to have the house inspected and know what you are getting into, as well as what it is going to cost you. As long as you pay close attention and take all necessary precautions when buying this type of house, you should be very happy with your purchase.

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Find Out The Story About ARMs

September 24th, 2018 Comments off

You have a lot of choices to make in buying a house and deciding upon a home loan, and in today’s confusing loan world, you now also have to choose the index that you want for your Adjustable Rate Mortgage (ARM).

The index of an ARM (Adjustable Rate Mortgage) is the financial standard upon which the adjustments will be made. Various indices are employed, including government treasury instruments, the Fed Fund rate or LIBOR.

The rate on an ARM is adjusted periodically upwards, or downwards, based upon the movement in the general interest rate environment, but tied to a specific instrument. If your index is CDs, and CDs go up, your mortgage rate increases. ARMS also contain adjustment caps, so that you can limit the exposure as to how high your mortgage rate can go, even if your index rate continues to go up, which is good if you just had a change, and the rates go up again. Of course, the reverse can happen, and if your rate has just been readjusted at a high rate, and then the index moves down, you cannot take advantage of that until your next readjustment period.

ARMs can be tied to any number underlying instruments, such as the 90 day U.S. Treasury Bill. Another basis that is frequently used is the Federal Funds Rate. Many of the international banks will use the LIBOR as the index rate for loans.

Deciding upon which index is best for you will depend on your own situation as well as your view of interest rate movements. Adjustable rate mortgages that use CDs as the reference rate tend to change more quickly. Adjustable rate mortgages that use T Bills will change more slowly. LIBOR is one of the quickest moving indices, so if you want to take advantage of rapidly falling interest rates, this is the one to use.

An option ARM is one in which the interest rate adjusts monthly and the payment adjusts every year, and the borrower is offered an “option” on how large a payment he wants to make. The options that are offered represent interest-only payments, and a lowest possible payment that can’t be less than the interest-only payment. Those using this option should be aware of negative amortization, because they may never repay any of the principal if they always choose the lowest amount.

There are so many choices in the home loan market today that the new home buyer should not try to cover this field by himself but should instead call a certified mortgage expert.

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Outdoor Security Camera Solutions For Low Light Conditions

September 12th, 2018 Comments off

When it comes to optimizing the effectiveness of an outdoor security camera the most important thing is capturing useful video images. The first obstacle that most outdoor conditions poise is night surveillance since outdoor environments are little more difficult to control than indoor environments. At night it may be a challenge to provide enough light for the camera’s image sensors to pick up anything. That is when the alternatives must be considered.

While it is not always an option, installing additional lighting to the area is one way we can make sure the outdoor security camera captures usable video footage. A simple system like a light that is controlled by a person is not always viable when there may not be a person to do the job. There are also motion activated lights as well as motion activated cameras that begins recording only when there is some movement detected. The important part is that the light is sufficient in illuminating the security camera’s entire field of view.

When additional lighting is not an option or not the ideal solution and it is low light conditions a black and white camera may suffice. This is only effective up to a point and some amount of lighting is still required for the camera to produce quality images. Black and white cameras work because they have lower light requirements than colored cameras.

Night vision security cameras come in varying degrees of effectiveness measured by the LUX rating of the camera. The LUX rating lets us know the minimum light levels required for the security camera to work. The infrared technology records light at a frequency beyond what is visible to our eyes and produces the image in shades of green. The LUX rating is only useful when comparing between similar manufacturers because it is relative to their standards. By itself it doesn’t tell us much except that a LUX rating of 0 means the camera can produce an image in complete darkness.

An outdoor security camera definitely has much more demands than an indoor camera because of the harsh environment it is installed in. However, there are numerous ways to tackle any specific problem and lighting should be the most basic of challenges you will face. There are vandalism and weather conditions to be taken into consideration as well so be ready to protect your security camera.

Some basic ways to protect your camera is by installing it with as many threats in mind as possible. Housing is recommended especially for areas that are high risk of physical abuse by either malicious attacks or weather extremities. How the camera is installed and mounted and how the cables are managed are all things that will minimize the chances of the surveillance equipment from being damaged and rendered useless.

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Advantages Of Using A Letting Agency

August 22nd, 2018 Comments off

Getting a residence is not a simple decision, even for those who have a lot of money. Unluckily, most of the citizens do not have sufficient funds to even consider buying a house. Housing prices, in spite of the current recession, have not dropped to such a level that everyone can afford to buy one. The majority people have no other alternative but to rent a house.

Although getting a home on rent is not as hard as compared to buying one, an adequate amount of difficulties can build a normal person totally disheartened from the entire process. The major hurdle is to get a house that suits the requirement of a specific family.

Next significant factor is the monthly rent and the locality of the home. As per the most significant feature of renting a house, one has to establish the needs of their family. If they are a large family of around eight to nine people, they would need a minimum of a double storey residence with three bedrooms. A small family unit of three people, on the other side, can survive with no trouble in a one-bedroom apartment.

It’s difficult to find a house with reasonable rent, especially if someone wants to live close to the High street, as houses are more expensive there. High Street houses are more in demand as they have lots of shops in access.

It is normally not easy for someone to find a house near High street with a good deal; the reason being, a common man does not know much about letting business and can be easily fooled by dealers. They may end up in living at a compromised location or end up paying far more than actual worth of the house.

The wisest way to deal with this situation is by using a certified and well known letting agency. These agencies have the key business of serving citizens in renting homes at reasonable prices and at good localities.

The fundamental work of a letting agency is to get houses that are available on rent, and catalogue them with their construction, locality, features, facilities, and total property price. They liaise with the landowners and assist them in renting out their residences. In the same way, they provide this information to prospective tenants and give them all the particulars. Letting agencies take a small amount of charges from both service users for this facilitation of services.

The most important advantage of subscribing with a letting agency is that the prospective tenants have to face less amount of hassle in finding a residence. One does not even have to go in order to inspect the houses since one can see their videos and photographs present in the catalogue of the agencies. Prospective tenant only visits a house if it suits the necessities and is up to the mark. The letting agencies also arrange for the trip to examine the house and offer a detailed visit to assist the tenants in reaching a conclusion.

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