17 Apr 2024
By 24hr Mortgage

Mortgages and Divorce: Keeping Your Home During Life’s Changes

Mortgage, ,
Divorce or separation is a challenging time, and amidst the emotional and logistical complexities, handling mortgage issues can add another layer of stress. For many couples, their home represents not just a financial investment but a symbol of stability and security. However, when relationships break down, decisions about homeownership become crucial. Here is some guidance on how to navigate mortgages during a divorce or separation. Communication is Key: Open and honest communication between partners is crucial when it comes to mortgage matters. Discuss your options openly and try to reach a consensus on what to do with the family home.…
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16 Apr 2024
By 24hr Mortgage

Understanding Closing Costs When Buying a Home

Mortgage, ,
Buying a home is an exciting journey, but it's not without its twists and turns. One specific daunting aspect for many homebuyers is understanding the sphere of closing costs. These additional expenses can catch even the most prepared buyers off guard if they're not properly understood. So, let's discuss the world of closing costs and shed some light on what to expect when purchasing your dream home. Appraisal Fees: Before finalizing a mortgage, lenders typically require an appraisal to ensure the property's value aligns with the loan amount. Appraisal fees can vary depending on the size and location of the…
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15 Apr 2024
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – April 15th, 2024

Financial Reports, ,
The Consumer Price Index (CPI) is showing higher than expected inflation, and the Producer Price Index (PPI) is showing lower than expected inflation. The two are in conflict with each other; however, the Consumer Price Index is still the far greater indicator for inflation as it directly impacts the cost of living for everyone, not just production assets.  Given the Federal Reserve’s recent speeches it would seem that there is very likely to be a delay in the rate cuts this upcoming quarter. They have stated numerous times they are driven largely by data and that data has proven that…
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12 Apr 2024
By 24hr Mortgage

Find Something Wrong During a Home Inspection? How to Discuss Repairs or Defects with a Seller

Home Buyer Tips, ,
When it comes to selling a home, it is a common belief that once the offer is accepted, there is nothing else to be negotiated. However, issues and obstacles that can arise during the home inspection can be a cause for discussion with the seller. Whether you're currently searching for houses or your offer has already been accepted and you're preparing for the next step, here are some tips in the event that the home inspection isn't up to par. Be Cautious About What You Say Without a doubt, anything that you discuss with the real estate agent regarding the…
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11 Apr 2024
By 24hr Mortgage

Unlocking Home Equity With Home Equity Loans and HELOCs

Mortgage, ,
Home equity loans and Home Equity Lines of Credit (HELOCs) are two avenues through which homeowners can tap into this valuable asset. Understanding the differences between them is crucial for making informed financial decisions. We will review the intricacies of these financial products, exploring how they work and helping you determine which might be the better fit for your needs. What is Home Equity? Before we dive into the specifics of home equity loans and HELOCs, let's first grasp the concept of home equity. Put simply, home equity is the portion of your property that you truly own—the difference between…
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10 Apr 2024
By 24hr Mortgage

Negotiating Repairs After a Home Inspection

Mortgage Tips, ,
So, you’ve found your dream home, made an offer, and had the home inspection done. But wait—what happens next? For many homebuyers, negotiating repairs after a home inspection can be a daunting task. However, with the right approach and some negotiation skills, you can ensure that your new home is in tip-top shape without breaking the bank. 1. Understand the Inspection Report The first step in negotiating repairs is to thoroughly review the inspection report. Take note of any major issues that could affect the safety or structural integrity of the home. These are the items that should be your…
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