Real Estate Investing at Visionone Investment Group - Real Estate Knowledge

Your South Florida Real Estate Agent, Anthony Jeanty is
Providing Comprehensive Real Estate Services to Home Buyers and Sellers.
BUYHEREMARKET.BLOGSPOT.COM

Buyers need to do due diligence on properties that are available, because in some cases the current value of the property can be less than the amount of the lien. = FACEBOOK.COM/VISIONONEHOLDING

Real Estate: South Florida; my passion is to help you succeed i your real estate transaction.
https://www.facebook.com/visionairerealestate/

These advice will get you started with quick, easy-to-do tasks. Keeping you and your property safe

VISIONONE REAL ESTATE INVESTING GROUP. = http://antonyrealestate.blogspot.com/
Advice 1.
When Selling Your Home
For most families, their home is their largest financial asset, and deciding to sell it is a big decision that involves a lot of preparation and work. When you're ready to sell it's important to have an experienced real estate professional handle the details involved in the successful sale of a home for top dollars = http://visiononerealestate.blogspot.com/

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VISIONONE REAL ESTATE INVESTING GROUP.
Advice2.
Know your neighbors. Many people don’t really know their neighbors; it’s more than just saying hi and being friendly. Tell your neighbors your house is going on the market, have them watch for any suspicious activity, and ask them to let you know if they see anything unusual.
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Avice 3. When Buying a Home

House hunting is one of the most exciting parts of the home buying process. But it's also where a lot of first-time buyers, and even those moving up in the real estate market, make mistakes. Without a solid plan in place..
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Do Your Research
Investigate tax rates, look up information about the house you're interested in owning and be knowledgeable about the area. County websites have a multitude of information available about properties. = KNOWLEDGEFINANCIALGROUP.BLOGSPOT.COM
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Listen to Advice
Take your real estate agent (You said you have one, right?) and be sure to use them for their expertise..
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House Buyers; Check Your Credit
A Credit Report is basically a document that shows your history of borrowing and repaying money over the years. Check this document for errors, credit you didn't know was open in your name, and to help you determine your outstanding debt load.

A Credit Score is a numerical "grade" that's based on the information compiled within your report. These days, lenders typically want to see a score of 600 or higher for loan approval (though that number is not set in stone).

Review your credit reports and scores before you start a home loan process. There are three credit reporting agencies in the United States. You can click here to check your credit report for free...

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Get Pre-approval from a Reputable Lender
Get pre-approved for a mortgage loan by sitting down with a lender. This is not the final approval, but it's a good place to start. This will give you an idea of how much a particular lender is willing to give you.
Work with lenders that you've been given as a personal referral.
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Be a Proactive Hunter
Ask for help. Your real estate agent will help with the house hunting process. (You are using an agent, right?) But don't rely solely on your agent. Go out there and do some hunting yourself, you can start online..
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Drive through neighborhoods and communities to get a good idea of where you want to be in relation to the schools you desire, and the places you frequent...
When Buying; Play Detective
Visit a home and don't be shy about asking the sellers (or their agent) plenty of questions. Be friendly about it, but be thorough.
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Test the Drive
Test out the morning commute to your work. It might seem silly to do a rush hour commute from a home you're only considering, but think about how much time you'll spend commuting day after day.
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Look into the Future
Think about what that beautiful meadow across the street be a shopping center or a highway might be in two years? Don't expect the sellers to volunteer such information, because it's not in their interest to deliver bad news about the neighborhood, nor are they required to provide such information..
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Buying a home is an exciting and complex adventure. It can also be a very time-consuming and costly one if you're not familiar with all aspects of the process, and don't have all the best information and resources at hand.
Our comprehensive, high-quality services can save you time and money, as well as make the experience more enjoyable and less stressful.
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VISIONONE REAL ESTATE INVESTING GROUP.
Advice 4.
Respect the power of lighting. Criminals don’t want to be seen. The house that is well-lit at night provides a deterrent because thieves don’t want the attention and potential to be caught by witnesses. Invest in tools that make nighttime light automation easy, like dusk-to-dawn adapters and motion .detectors. Smart-home technology has also made it easier to make it appear like people are home, even when they’re not.

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VISIONONE REAL ESTATE INVESTING GROUP.
Advice 5.
Lock your doors and close your garage door. It’s amazing how many people think they live in a safe-enough neighborhood not to have to lock their doors when they leave. Some facts sellers should know: In 30 percent of burglaries, the criminals access the home through an unlocked door or window; 34 percent of burglars use the front door to get inside; and 22 percent use the back door, according to the FBI Uniform Crime Report. = https://www.facebook.com/visionairerealestate/
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Blare the sirens. Burglars are usually in and out in less than five minutes, and they know police can’t usually respond to an alarm that quickly. Their bigger concern is witnesses to their crime. Make sure the people outside your home can hear your security alarm siren.

Home Equity Conversion Mortgage - Home Equity Line Of Credit

  Home Equity Conversion Mortgage {Reverse Mortgage} [HECM] - Compare To Home equity line of credit. (HELOCs)

''RealEstate: Home Equity Conversion Mortgage =HECM

If you're interested in a home equity loan, be sure to shop around. The home equity market is extremely competitive. And don't just compare interest rates. Find out whether a lender will waive the cost of the appraisal and other charges for such things as credit and title reports.

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RealEstate Investment to build wealth. Yes buying one single home can and will help you grow your riches..

Today many homeowners are sitting on a record amount of cash – and not tapping it. That happened just because they purchased in the past a piece of real estate property.

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How Does a Reverse Mortgage Work? -ReverseMortgage Guide...

 A reverse mortgage is an increasingly popular consumer loan for senior homeowners age 62+. It allows these senior homeowners to tap into the home equity that has been built up. There are no monthly mortgage payments but homeowners are still responsible for paying property taxes, insurance, and maintenance. The repayment of the loan is deferred until the homeowner dies, sells or moves out of the home.

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''WhatAre The Pros and Cons of a Reverse Mortgage?

There are several considerations to make before deciding to proceed with a reverse mortgage loan. As with any large decision, it’s helpful to have an understanding of the pros and cons associated. Some of them include:

Pros:

     You continue to live in your home and retain title to your home as long as you continue to pay your property taxes, insurance, and maintenance.

    You generally receive the proceeds of the loan as tax-free cash in which you can use the money as you see fit. It is recommended though to speak with your financial advisor to verify your specific situation.

    You do not make any monthly mortgage payments during the course of the loan. You do have to follow the constructs of the loan guidelines and are responsible for paying your property taxes, insurance and maintenance.

    A reverse mortgage is a non-recourse loan. Neither you nor your heirs are liable for any amount of the mortgage that transcends the value of your home.

    You choose the disbursement option. There are several ways in which you can receive the proceeds of the loan.

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A piece of real estate today will allow you extra income tomorrow. LEARN MORE HERE...

Imagine yourself in your retirement age still renting a place to live..

Imagine yourself not capable of working anymore but you have nothing with equity to depend on.

Imagine yourself at retirement time living only with social security money..

Own real estate today to solve tomorrow’s financial problem..

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Home Equity Conversion Mortgages for Seniors...

Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM),and is only available through an FHA-approved lender. 

If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's HECM program.

 The HECM is FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity. The amount that will be available for withdrawal varies by borrower and depends on:

Age of the youngest borrower or eligible non-borrowing spouse;

Current interest rate; and

Lesser of appraised value or the HECM FHA mortgage limit or the sales price.

If there is more than one borrower and no eligible non-borrowing spouse, the age of the youngest borrower is used to determine the amount you can borrow.

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Once again, remember the rules of HECM:

''RIGHT HERE''

You must:

•Be 62 years of age or older

•Own the property outright or have a small mortgage balance

•Occupy the property as your principal residence

•Not be delinquent on any federal debt

•Participate in a consumer information session given by an approved HECM counselor

The following eligible property types must meet all FHA property standards and flood requirements:

•Single family home or 1-4 unit home with one unit occupied by the borrower

•U.S. Department of Housing and Urban Development (HUD) approved condominium

•Manufactured home that meets FHA requirements

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In the real estate game, try to be a player. If you don’t play, how do you expect to be a winner?

U.S. homeowners today are getting richer by the minute, but they are less likely to cash in on their newfound wealth than during previous housing booms. As home values rise, home equity lines of credit.

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 Home equity line of credit –

 Guide to Home Equity Loans and Lines of Credit (HELOCs) starts here.https://twitter.com/AGENTANTONY

 The collective amount of so-called ‘tappable’ equity, which is the appraised value of a home minus the 20 percent most lenders require borrowers to keep as a safety net, grew constantly.

Home equity lines of credit or HELOCs – second loans that borrowers use to take money out of their homes for purposes like renovations, college tuition, or to pay down other debt. A borrower today would likely opt for a HELOC, rather than doing a cash-out refinance on the primary mortgage.

Home equity line of credit –

 ''Guide to Home Equity Loans and Lines of Credit (HELOCs) starts here.

Home equity lines of credit are usually offered with variable interest rates. The rate will be tied to the prime rate-the rate the best corporate customers receive--or some other index. Lenders will often generate business by offering teaser rates--a ridiculously low rate that may vanish in six months. Make sure that you know what will happen to the interest rate after the introductory offer expires

A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house (akin to a second mortgage

HELOC’s, on the other hand, have variable interest rates, unlike the 30-year fixed primary mortgage, so the rate on a HELOC can change. A HELOC is therefore more risky because the Federal Reserve has been raising rates steadily, and HELOC’s follow that.

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If you do shop for home equity loans, watch out for unscrupulous mortgage lenders. They could try to entice you into signing papers for a high-cost loan that could ultimately become a financial nightmare. 

While you might not fall for these slick come-ons, perhaps your mom or dad or a grandparent would. These shady companies typically prey on homeowners who are elderly, as well as those who are experiencing credit problems

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The housing crash was not that long ago, but the pain in the housing market is still being felt. Millions of borrowers lost their homes to foreclosure because they used them like ATMs. Some are just now able to qualify for a mortgage again.

Some of today's homeowners saw their parents lose their homes or may have even been evicted as teenagers. Home prices are also rising so quickly that some markets are overheating, with sales slowing even as prices rise. That is a red flag to all homeowners because prices, historically, eventually follow sales.

In 1998, the Federal Trade Commission issued a consumer alert on these home equity scams. Here are some unethical practices to look for: MUCH MORE INFO HERE...

•Equity stripping. The lender issues a loan, based on the equity of your home, not on your ability to pay. If you can't make the payments you could lose the house.

•Loan flipping. You are urged to refinance over and over again. Each time you refinance, you pay extra fees and interest points which only increase your debt.

•Bait and switch. The lender offers you one set of loan terms when you apply and then pressures you to accept higher charges when you sign the final papers.

•Credit insurance packing: Some lenders will attempt to sneak in charges for credit insurance and other so-called benefits that you did not request. The lender hopes you don't notice this and just sign the loan papers.

•Mortgage servicing abuses. You never get accurate or complete account statements. That makes it almost impossible to determine how much you've paid or how much you still owe. You may pay more than you should.

Whatif you get cold feet shortly after you sign the loan papers? Don't worry. Federal credit law gives you three days to reconsider a signed credit agreement and cancel the deal without a penalty. (Sundays and legal holidays won't be counted.) You can pull out as long you are using your principal resident to secure the loan.

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Reasons Homeowners Should Get A HELOC? (Home Equity Line of Credit)

Safety Net / Emergency Funds

 Although having adequate emergency funds in cash is always preferable, it is nice to know that you have a HELOC as a backup in case of prolonged job loss or health problems. It’s always better to line up credit ahead of time while you have good credit rather than when you are already desperate. Using a HELOC can be preferable over paying sky-high credit card interest or falling behind bills (late fees, damaged credit score).

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Cheap and Flexible

 The nice thing about a HELOC with no fees is that if you don’t take any money out, you don’t pay anything. And because the money is secured by your home, this assurance makes your interest rate relatively low.

The interest is accrued daily, which makes it good for quick loans. So if you do need to take out $10,000 on short notice and you don’t have the cash on hand, using a HELOC might be the most economical way to do it. At 6%, your interest owed on $10,000 is only $1.64 a a day.

 Of course, for many folks this convenience might just provide too much temptation. All debt can turn into a double-edged sword. Know thyself

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''Knowledge and Expertise:

WhatYou Should Know About Home Equity Loans…

Here’s an example of how to use your HELOC to extract $10,000:

1.Request a balance transfer from your 0% APR credit card for $10,000 directly to your HELOC. Since this is loan they won’t mind at all.

2.Shortly before the balance transfer is scheduled to arrive, write a check for $10,000 from the HELOC to your interest-bearing bank account. Now you have created a temporary $10,000 debt at 6% and $10,000 bank balance earning ~4% (minus some possible lost days of interest).

3.When the balance transfer payment arrives a fews days to a week later, your HELOC debt will be paid off.

4.A week’s worth of interest at 6% APR ion $10,000 is only $11.50. And that is partially countered by interest earned in your savings account.

5.Voila! For around ten bucks, you now have $10,000 at 0% APR in your bank account to do as you wish.

If you cancel the loan by the three-day deadline, you won't be liable for any amount, including finance charges. The lender must return any money paid toward the loan within 20 days

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Finding a HELOC – What To Look Out For…

Introductory rate and period. Temporary teaser rate to suck you in.

◾Margin. This is usually how your non-teaser interest rate is determined, relative to the Prime rate.

◾Minimum draw. How long can you take money out?

◾Required average balance.  Do you have to take some money out?

◾Upfront lender fees. These days, you should be able to eliminate these.

◾Upfront third party fees. Harder to get waived, but try.

◾Annual fee. Just say no, again. Sometimes only waived for first year.

◾Cancellation fee. Many have these, I guess so you don’t bail and go to another bank. This is especially the case if they waive all the upfront costs above, since they are losing money on you so far. As long as you can keep your balance at $0 with no fees, just keep it open and don’t use it. LEARN MUCH MORE HERE...

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