Archive for January, 2013

    Loan Options For Home Buying

    Written by admin. Posted in Fha home loans, Property search, Va home loans

    Down payment assistance programs

    With housing costs remaining relatively low, many who never thought they could be homeowners are beginning their property search. FHA home loans are making home ownerships possible for those with a modest or tainted credit background to own their own home. In addition to FHA home loans, we have down payment assistance programs, as well as a first time home buyers program, which has allowed many to see home ownership as a feasible possibility.

    FHA home loans are primarily known for being more forgiving to those who have undergone financial turmoil in the past. Fha home loans use multiple factors to determine the eligibility of each individual. With FHA home loans so readily available, it is important that first time home buyers consider what their total monthly housing payment will be, while factoring in taxes and their homeowner’s insurance. Additionally, borrowers must price shop their interest rate and costs on potential FHA home loans. Not all FHA home loans offered through approved lenders are the same. Home loan lenders offer different options, and with a bit of effort, one may find a better rate somewhere else.

    One alternate to FHA home loans exists for veterans. Va home loans are an option for veterans because they do not require a down payment, whereas FHA home loans do. These loans are backed privately through sources such as banks and mortgage companies. Borrowers are presented with more favorable loan terms because they have a portion of the loan guaranteed through the VA.

    First time homebuyers must approach their property search with knowledge about FHA home loans as well as all other borrowing options. With California home sales in October 2012 rising over 25 percent from where they were that same month in the prior year, we are seeing no shortage of homeownership desire. This five year all time high speaks to the value of homeownership among Americans, making it vital that prospective buyers tour as many properties as possible. Once they have done this, they should narrow their search down to a few that they would like to visit again. Before taking advantage of the favorable interest rates and low down payment options that FHA home loans offer, the homebuyer must find a home in their property search that they will be content with for years down the road.

    Need more revocable living trust information?

    Written by admin. Posted in Medicaid eligibility, What is a living will, What is medicaid

    Asset protection trust

    If you are making arrangements for what will happen to your assets after you have passed away, it is important that you research revocable living trust information so that you can see whether or not a revocable living trust is a good option for you and the people to whom you will be leaving your assets. There are lots of advantages to using an RLT; you can avoid an expensive probate process, you can make changes to an RLT while you are still alive, you can write in privacy preservation clauses, and segregate your assets, which is very useful to married couples with substantial property that was acquired previously to their marriage.

    As you seek out revocable living trust information, and you find a good representative who can help you draft it, make sure to ask about a credit shelter trust and a Medicaid trust as well. You may find that trusts like this are a perfect match for you, your family, and your assets.

    As you are researching revocable living trust information, make sure to ask some of your peers if they have chosen an RLT to help manage their assets after they have passed away. If you find that you do know someone who has chosen to use an RLT, they could have a piece of revocable living trust information that is helpful as you draft your own. They also may be able to recommend a professional with a lot of experience who can provide you with all of the revocable living trust information and counsel that you need to properly draft your own.

    Research professionals in your area that can provide you with more revocable living trust information. They will give you more information about the process of drafting an RLT, and explain the pros and cons of using one in a way that will help you decide whether or not they are right for you.

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