Tag: Home Buying
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Real Property Basics: What Is a Clear Title?
A clear title. The term is commonly used to mean the deed holder can prove ownership, unquestionably. To verify that, a title company can conduct a title search. Other parties’ claims on the title are called title defects, or clouds on title. What do these claims look like? They might be mortgage liens, court judgments,…
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Bitcoin Creating New Home Buyers? Why We’re Watching the Crypto Effect on Real Estate Markets
Bitcoin is now available from mainstream financial managers. Suddenly, it’s a significant part of U.S. investment and retirement portfolios. So, bitcoin is joining real estate as an asset class. At this point, the leading cryptocurrency can influence the costs of housing in some markets. Its rise even allows some people to buy their first homes.…
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What Makes a Good Real Estate Agent and How Do I Find One?
Industry pros think home prices could easily rise 2%-5% this year, judging by the Spring 2024 home buying rush already underway. If you want to take the best advantage of a promising market, you might be thinking of hiring an agent. Anyone selling or buying a home can benefit from a good agent’s support. The right…
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Can We Use AI Instead of Real Estate Agents Yet?
Real estate sites use AI to offer cutting-edge listing searches. And lenders use artificial intelligence when sizing up an applicant’s financial strength. Tech-focused online lenders employ AI to help them approve or reject loan applications right away. Additionally, AI can automate various business tasks, thereby reducing the risk of fraud. But can AI manage a…
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Buy a Flipped Home, Get an FHA Loan. Like Oil and Water—Or Do They Mix?
Once upon a time, way back in 2003, the Federal Housing Administration instituted a 90-day wait for sales of homes by flippers. And to this day, only those who’ve owned for more than three months may sell to buyers who get FHA loans. Clearly, flippers need to keep this in mind. FHA-backed mortgages, of course,…
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Buying Without Your Spouse? What to Know About a Purchase Money Mortgage
Sometimes a homebuyer who’s married wants to buy property as an individual. They want to be the sole buyer, with no other name on the closing papers. How can it work? Consider the purchase money mortgage. As Cleveland’s CrossCountry Mortgage® company explains, “if a married person wants to purchase a property without their spouse being…
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Fannie Mae Was Going to Save Mortgage Borrowers Thousands by Dropping Its Title Insurance Requirement. Never Mind.
The Biden administration was working with loan backers to delete title insurance charges from closing costs. The move would have saved quite a few home buyers hundreds or even thousands of dollars. Noting that the plan had been silently scuttled, the Wall Street Journal said pressure against it came from “an obscure industry.” The obscure…
