Have you recently seen mortgage rates drop to historical lows, and now you want to refinance? This may be problematic if you have an existing lien on your home. Here is what you need to know when it comes to getting a home refinanced with a lien.
Understand What a Lien Is
If you currently have a large debt that is owed to a creditor, it is possible for them to file legal documents with the local court system to place a lien on your property.
If you're looking for a new way to invest in real estate, look into non-performing loan purchases. Non-performing loan purchases allow you to invest in real estate that has entered foreclosure. The benefit of these types of investments is that you can purchase property for deeply reduced prices. Before you purchase your first non-performing loan, here are four steps you should take. These steps will help you avoid problems with your transaction.
Have you found a home that you love, but you are worried about being declined for your mortgage? If so, it will help to do the following things to help improve your chances of being approved.
Improve Your Credit Score
Many people make the mistake of not improving their credit score before applying for a mortgage. Instead, they wait until the application process has started and wait to see what comes up.
No one wants to get that dreaded phone call in the middle of the night—the one where a loved one says they've been arrested and would like to be bailed out. If you do get this call, however, you may be wondering how much it will cost to bail the person out. While that depends on the bail bondsman you go to, typically, you will need to pay around 10% of the full bail amount.
Being able to buy a house with cash is a feat that some people dream of. Just knowing that you can find a house, make an offer, and place the cash on the closing table is enough to fill a person with joy. It takes a lot to save up enough money to actually pay cash for a house, and if you've had the discipline to do it, you should definitely be proud of yourself.