Listing Techniques that Help Sell Homes
By Ryan Mennemeier, Mortgage Loan Officer
At some point, we have all read an online listing for a home or property. Think about the last time you checked out a property online and just wished you could conduct a walkthrough right after reading the listing. What was it about that particular listing that grabbed your attention over the others? Aside from pictures (which make a difference as well), here are some key factors that will stand out and help a listing appeal to buyers.
Use Your Vocabulary
There are many words that can be used to increase the effectiveness of an online listing. ...
What Happens When a Mortgage is Sold?
By Justin Hooker, Loan Officer
Some homeowners may be caught by surprise when they receive notification that their mortgage has been sold only a short period of time after they closed. In most situations, this refers to a transfer of servicing rights, meaning the lender that originated the loan will no longer be collecting the payments. This is totally legal and in fact, it’s quite a common practice for lenders. The financial obligation does not change and loan terms remain the same as outlined on the original mortgage note. Once sold, the loan may appear under a different name on a ...
The Advantages and Disadvantages of Bi-Weekly Mortgage Payments
By Carrie Soffia, Mortgage Loan Officer
Bi-weekly mortgage payments can be a great option for homeowners. However, there are advantages and disadvantages to a bi-weekly payment plan. Read on to learn more.
Reduce the mortgage term – One of the biggest reasons people choose bi-weekly payments is that it is possible to pay off the mortgage early and reduce interest costs.
Better budgeting – A bi-weekly payment plan helps to budget the expenses of your mortgage on a lower scale rather than having one large payment due every month. For some, this fits their lifestyle and helps people match the date ...
What is a Short Sale?
By Michael Nykiel, Mortgage Loan Officer
In simple terms, a short sale is a home that is available to purchase at a price that is lower than what the current owner owes on the property.
A short sale is an option that may be available to homeowners who are experiencing financial hardship. They may be behind on their mortgage payments and have a home that is underwater, meaning the home is worth less than the outstanding balance on the mortgage. Unless they come into cash quickly, the homeowner may be forced to sell the home and will be faced with two options: ...
Appraisal Tips and Tricks
By Kyndal McAllister, Mortgage Loan Officer
When it comes to the mortgage process, there is one thing that is paramount to the transaction, and that is the value of the home. Home value is calculated by current sales in the area, square footage, lot size, upgrades, and location. One way to gather the data is to have an appraisal done on the property. An appraisal is a process of reviewing your property visually and putting it into factual information. As with all presentations, it benefits you to put your best foot forward.
It is recommended that you make any and all repairs ...