30 Oct 2019
By 24hr Mortgage

What is Owner Financing When Buying A Home?

Mortgage, ,
There are many options when it comes to taking out a loan on a new home. One of the options that people might have heard about is called owner financing. In general, the property owner takes the place of a traditional lender. Instead of someone taking out of a loan from a bank or a credit union, they take out a loan from the owner of the property. Similar to a traditional loan, the buyer will make payments to the seller over a period of time with a certain interest rate. The Structure Of Owner Financing If someone elects to…
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29 Oct 2019
By 24hr Mortgage

Common Reasons Why Buyers Are Denied A Mortgage

Mortgage, ,
When you are buying a new home, it is an exciting process. You have spent months searching and have found the home you want to purchase. You are ready to move into the home of your dreams.  Unfortunately, you have found out that your request for a mortgage has been denied. This can be a deflating experience. Fortunately, there are ways to avoid this by understanding the most common reasons why a buyer is denied for a loan. The Loan Requirements Have Changed One of the most common reasons why you might be denied a mortgage is that the terms…
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20 Sep 2019
By 24hr Mortgage

How To Crowdfund A Renovation Project

Mortgage, ,
Crowdfunding came into prominence with the Jumpstart Our Business Startups (JOBS) Act that President Obama signed into law during 2012 and subsequent enhancements. The JOBS Act made it easier for startups to raise money and for the first time allowed the legal ability to advertise the investments and accept small investors. Innovate And Renovate Crowdfunding is useful for many projects. The method raises money to create new products, make documentary films, and for many kinds of fashion items. Crowdfunding successfully raises money for real estate transactions.  Smaller investors participate in real estate projects that they would otherwise not have enough…
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02 Jul 2019
By 24hr Mortgage

4 Tips To Ensure A Successful Closing

Real Estate, ,
As you come up to the date of your closing, there's time to reflect on everything that led to this step. Your real estate agent, mortgage broker, title company and others all work hard to ensure a successful closing for you. They're all in your corner, hoping for the same outcome as you. They've had to do a lot of work behind the scenes that you may not even be aware of. Their diligence and professionalism has already benefited you. But did you know that it's not all riding on your team of real estate professionals? There are things you…
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13 Jun 2019
By 24hr Mortgage

How To Buy A Bargain Home As A Short Sale

Real Estate, ,
A short sale is when the mortgage lender(s) agrees to sell the property for a lower amount than the loan-balance remaining. During the worst moments of the 2006 to 2008 real estate crisis, homes sold as short sales for a fraction of their value. Lenders had so many properties with loans in default that they could not manage the ones that they had in foreclosure. Foreclosure is an expensive legal process that causes a lender to lose more money on a property. This is one of the motivators that encourages lenders to accept a short sale because sometimes through a…
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12 Jun 2019
By 24hr Mortgage

What Is A Reverse Mortgage?

Mortgage, ,
A reverse mortgage is a way to use the equity value that built up in a home to improve the quality of life for those who have appropriate circumstances when they reach the retirement age of 62 or older. With a reverse mortgage, a person continues to live in their own home and retains the title to it but does not have to make any monthly reverse mortgage payments. A reverse mortgage may be helpful; however, not everyone qualifies for one. The benefits come with disadvantages as well. Here is a list of the advantages and the disadvantages for reverse…
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