Author: svgdigital

Refinance your home

When to Refinance a Home Mortgage

When should you refinance your home mortgage? There are generally two times you should look into it:

  1. When you have the chance to save money
  2. When it makes it easier to pay your bills every month

Why Refinance Your Home Mortgage?

Knowing when to refinance your home mortgage is usually closely related to why you would want to do it. While every family is different, there are typically four main reasons homeowners look to refinance their mortgage:

  1. To make their mortgage term shorter
  2. To get a lower rate of interest
  3. To switch between a fixed-rate and adjustable-rate mortgage
  4. To access home equity

Shorter Mortgage Term

Anytime interest rates fall enough, it’s worth considering a mortgage refinance. The math doesn’t always work out in your favor, but it also only takes a few minutes to crunch the numbers. If current interest rates are multiple percentage points below your current mortgage rate, then you might be able to shave years off of your total remaining mortgage while having your monthly payment stay approximately the same.

Lower Interest Rate

Lower interest rates don’t just mean the chance to potentially shorten your mortgage. You might also speed up how fast you build equity in the home and save money on the bigger picture. The traditional rule of thumb is to only look into this when mortgage rates are 2 percentage points lower than your current mortgage, but some financial advisors have their clients start looking at 1 point.

Switching the Mortgage Type

Many homeowners start off with ARMs and their lower rates only to see the payments and interest rates go up over time. Switching to a fixed-rate mortgage takes out the future volatility and might save money. Conversely, a switch from a fixed-rate mortgage to an ARM might make sense when interest rates are falling and it can save money on monthly payments.

Accessing Home Equity

If you have been paying your mortgage for some time, then you have probably built up some home equity. Tapping into your home’s available equity can mean you’re able to raise money to accomplish certain goals. These might include:

  • Coping with an unplanned fiscal emergency
  • Consolidating multiple debts into one
  • Financing a big purchase such as a car, vacation, or college education

Variables to Consider

There are times when refinancing your home mortgage might be a savvy money move, but it’s not always about the interest rate, monthly payments, and loan term. You also have to factor in other things.

Mortgage insurance is one of them. A refinance might let you escape this requirement, but it might not.

You also need to consider closing costs. These can include things such as the appraisal fee, credit report, originating fee, and title insurance fee. Collectively, they account for 2 to 6% of the total amount you borrow

mediate with a neighbor

FAQs About Mediating Neighbor Disputes

Many of us have had to learn the hard way that even if you might be able to mediate a conflict, it’s not always the easiest thing. That’s why we’ve put together this blog post about frequently asked questions about mediating neighbor disputes. So whether you’re considering becoming an arbitrator or are just looking for common problems and solutions, stick around! You’ll find all kinds of helpful information right here.

When Can Mediation Help Solve a Neighbor Dispute?

It can be tough to determine the best course of action to solve a dispute when your neighbor is unreasonable. Do you give it a try and hope they don’t throw you through your front door? Try talking to them face to face, but watch out for flying fists? There’s no one-size-fits-all approach, but as someone who has been in this situation before, I can tell you that mediation is often the best solution. Mediation allows both parties to have their say and for one or both of you to find common ground and mutual respect.

Is Compromise Possible When Neighbor is Completely in The Wrong?

Maybe. Let’s say a neighbor is failing to keep her yard neat, keeping loud noises up late at night, and letting people pee in the front yard. You are fed up with it; soon, you will call the authorities if she doesn’t change her ways. But you want to try and work this out before going to the authorities. In this case, mediation is an option. You can tell the neighbor that these things have to improve, or you will have to report them. If they do not, you still have recourse to go further if you want.

How Can My Neighbor and I Write a Solid Mediation Settlement Agreement?

If you are having trouble coming up with a mediation agreement that both of you will accept and make sense to each of you, here are some suggestions. First, if you can agree by talking through the issues face-to-face, your mediator may better understand how both of you feel. However, let’s say that neither of you wants to put in the effort or time necessary for a face-to-face meeting.

What Do I Do If My Neighbor Violates Our Mediation Settlement Agreement?

If your neighbor violates your agreement, there are some steps you can take to rectify the situation. Your mediation agreement should spell out precisely what will happen if either of you violates it. The reasons for violating it may include getting a pet that you said was not allowed (or possibly agreeing not to get a pet), not keeping the noise down, or allowing graffiti on the walls of your house.

Conclusion

By now, you should be feeling much more confident about how to approach a neighbor’s dispute and make sure that it’s resolved as quickly and efficiently as possible. Remember that mediation is a way to dialogue with a neighbor in which both neighbors listen to each other and try to come up with a solution that the two of you can live with.

Selling your house

Questions to Ask Yourself Before Buying Your First Home

When you are looking for the perfect home to buy, there are many things that you have to consider. You want a house which is not too big or too small, in a good area with lots of amenities nearby and generally at an affordable price. Several other important issues need to be considered when buying your first home.

What will it Cost Me?
The first thing to consider is the costs that you will incur by buying your property. You will need to save up for a deposit of at least 5% – 20% of the value of your chosen home. Then you must factor in all the other possible expenses; legal fees, stamp duty, survey fees, moving costs, and buy-to-let mortgage fees.

In addition, if you are buying a newly-built home, you will also have to pay a reservation fee which is a charge equivalent to 1% of the value of your chosen house. This is in case you change your mind and back out at the last minute.

Have I Settled My Debts?
Besides having a deposit saved up, you will need to be in a position where all your debts have been paid off. When renting a property, it is commonplace for the rent payments to cover the mortgage on the property. However, you will also be expected to pay the mortgage monthly when you buy a house yourself, so your other debts must be taken care of before buying a home.

Paying Off the Mortgage?
Once you have bought your property, you will have to pay off both interest and capital on your home loan each month. The total amount that you will be expected to pay each month depends on how much the bank has lent to you and what type of mortgage deal you have been given. In addition, if your income is variable or unstable, you should ensure that your repayments will always be made each month simultaneously.

Where Should I Look?
When looking for a new house, try not to be swayed, particularly by the view from the window or the garden size. Instead, think about what’s most important to you, such as the location of your nearest school or transport links.

You should also look at all three aspects of your potential house when deciding where to buy. The exterior is essential for obvious reasons, but so are the interior layout and design. You may well have to spend lots of time in your house, so it’s vital that you like the layout.

Am I Ready to Settle Down?
The most crucial aspect to consider is whether you are ready to settle down and buy a home. After all, once you have made your purchase, there is no going back. You will want to make sure that you have a stable job with a good income and can afford the repayments on your new house before signing any contracts.

After thinking about all these issues, you should be able to make an informed decision about whether you are ready to buy your first home. If you believe it is time for you to move out of the family home and become a property owner, then go ahead!

older couple buying a house

What Should I Consider When Buying a House at Age 60 or Above?

Many people may not think that buying a home at age 60 is a good idea. This, however, is not true. Buying a home is a personal decision and there are many factors that go into determining if buying a house at any age is the right choice for you. If you’re age 60 and over, here are some major things that you may need to consider before you decide whether or not you should buy a home.

Finances

Finances are a major factor to consider when deciding to buy a home. When you are around 60 years old, you likely have a lot more savings than you did when you were in your twenties. If this is the case, you may have a lot to put towards a down payment and closing costs. This could end up making your monthly payment very low and much more affordable than renting. If you have enough money to afford these costs and your monthly payments, this may end up being a great financial decision, especially if you plan on living in the home for a long time.

Maintenance

Another factor that is important to consider when looking to buy a home in your sixties is the amount of home maintenance that your home will need. As you age, it may become difficult for you to perform all necessary home maintenance and lawn care chores. This may result in you needing to pay a helper or handyman to help.

If you are going to consider buying a home in your sixties, you may highly want to look into new construction that will not require a great deal of maintenance. The older a home is, the more work it will tend to need. If you can find an affordable, newly renovated home with a small lawn, this may be a great option.

No Rent Increases

When deciding whether to buy or rent in your sixties, you need to take into consideration rent increases. Many people in their sixties are living on a fixed income and cannot afford changes to the rent. Many apartments can increase and do increase the rent each year. This often makes it too expensive for many people as they age.

Owning a home is different because you are likely going to pay the same amount each month for life. With only small changes to taxes, your monthly payment will remain relatively constant. This makes it a good option for people living on a fixed income.

Ability to Renovate As Needed

When you own a home, you have the ability to renovate it as needed. You can change the paint color, add light fixtures, and change the flooring. More importantly, you can make the home more mobility-friendly. As you age, you may require railings, wheelchair ramps and other features. You can change these as needed if you own a home, but you may be forced to move if your rental apartment cannot accommodate you. This is something that all people over the age of 60 need to consider.

real estate lawyer

When Should a Landlord Hire a Lawyer?

Landlords should hire a lawyer to know in detail the laws and regulations governing their properties to protect themselves and their tenants from any legal entanglements. In some cases, a landlord wants to evict a tenant for violating the terms of the lease agreement.

In other cases, both parties may agree that the tenancy should end before the term is over. In either case, state-specific rules govern how landlords can legally issue termination notices. Only a qualified attorney will be able to provide you with advice about whether your situation requires eviction procedures or not.

Landlords who own more than one rental property may also benefit from consulting a lawyer about a wide range of issues affecting residential sales and leases, such as rent control ordinances or even civil rights lawsuits.

A landlord who needs to collect back rent or past due security deposits should also consult a real estate attorney because it is all too easy to violate the law and put their right to collect those funds in jeopardy. In addition, if landlords are trying to rent out their properties, they should consult an attorney about the legality of doing so.

A lawyer can help inform them about any local ordinances that might affect renting practices and advise them on how best to screen potential tenants. A landlord struggling with issues like this or legal problems of any kind should consider hiring a small business lawyer specializing in commercial real estate transactions. Lawyers in this field will be able to offer extensive knowledge on applicable state law and private agreements like leases, rental contracts, and deed restrictions.

They may also provide mediation services to resolve disputes between landlords and tenants. In cases where a tenant falls behind on rent, becomes violent, or causes extensive property damage, landlords may want to consider whether filing a suit as soon as possible will help them avoid financial loss. Suppose they decide to file suit after making multiple attempts at resolving the problem themselves first (including verbal warnings and written warnings). In that case, they again should seek legal advice before proceeding with formal legal action.

An experienced real estate lawyer can guide you on how best to protect your interests and comply with the laws governing residential rental properties. In some cases, a lawyer can even help you to get back rent owed or other losses covered by the tenant.

In cases where a landlord wants to evict a tenant from a property, or if the renter is violating terms of the lease agreement and needs to be evicted, an experienced real estate lawyer will know exactly how to proceed according to specific state laws governing residential rentals. In conclusion, a landlord should hire a lawyer to be sure that their rights are protected and the process of eviction goes smoothly. Furthermore, please consult a real estate attorney if you have any legal questions about your residential properties.

financial advisor

Should You Consult a Financial Advisor Before Buying a Home?

Why You Should Consult A Financial Advisor Before Buying A New Home

Many people think financial experts or advisors are just there to help you invest your money for retiring early in life. These people don’t realize the many benefits they are missing out on when not using a financial advisor, including helping you buy a home. This article will explore why you should use a financial expert to help you buy your home.

What Does A Financial Advisor Do

A financial advisor has to juggle many roles. One of those roles deals with educating you about how to get the best investment out of your money. They help show you what type of budget works for your situation, how to invest, the accounts you should have in place, the best insurance for you and your family, and so on.

A financial expert created a financial plan so that you can stick with it. Financial experts will advise on what type of investment is right for you at a certain particular period in your life. The list goes on, but for now, just know they are there to help you build your financial assets and get the most value from them.

Why You Should Use A Financial Advisor For Buying A Home

Many people don’t see the need for a financial advisor when buying a home, but financial advisors can help steer you away from buying the wrong type of home for the money you have. Perhaps, you are unsure if you can afford a home. Your advisor can point out ways to save so that you can get the home of your dreams.

They usually start with a budget and ask you questions such as what you like to spend for your home. Next, an expert would probably ask you about the amount you have for a down payment.

The advisor can go through the items you and your family own to see if something can be cut without costing a hardship. The money can then be used to go to your new home down payment.

Your financial expert will have you evaluate what you can’t do without against those things that will make the difference when deciding what kind of home you want. This will lessen the chance of you being house poor when you move into your home because you have a solid budget plan in place.

A Third Party

A financial counselor will consider all factors to determine if you can buy a house now or should wait a few years. The adviser can explain why you shouldn’t choose all the optional enhancements available while developing a house. With all the bells and whistles in the new model kitchen, an update can be costly, costing thousands extra. He or she will tell you how much money you will save if you skip some of the more expensive upgrades. The financial counselor can explain why that money should pay off your mortgage faster.

If you currently own a home, your advisor can help you with how much you may get for selling your home.

A financial advisor can help ease some of the stress associated with purchasing a new home.

what-upgrades-increase-home

Do Home Improvements Add Value?

Home improvements are a great way to add value to your home. Most homeowners want more than just a place they can call their own. They want it to be special, with character and personality that reflects the owner’s style. And while you might not be able to do everything on your wish list, there are some easy-to-implement improvements that will have an immediate impact on how much people think of your property in terms of both property value and lifestyle value.

What is Value?

The first thing that you need to know is that there are different kinds of home values. There is actually real estate property value and a lifestyle value that people place on their homes not as an investment, but for the experience they have in living there. Both these things can be increased by making improvements to your property because it will make you happy.

Lifestyle Value

You may never manage to turn a profit or even recoup your expenses, but with the added value of a well-made home comes increased pride and a sense of responsibility for caring for it in ways that increase its worth. These feelings are hard to quantify; however, they can be measured through repeat experience and even feedback from others.

Property Value

When you bought your house you probably spent a lot of time looking at property values and deciding what you could afford. One of the things that you looked at was the square footage, which is just a measurement of space. A major factor in property values is not necessarily how many rooms your house has or even how big it is, but rather what kind of condition it’s in and whether or not there have been any improvements made on it over time.

Updating fixtures, repairing old rot and damage inflicted by multiple tenants and updating outdated systems are all ways to increase the value of your house that will appeal to a larger audience because they indicate an interest in long-term living conditions.

Home improvements are a great way to increase the value of your home. Whether you’re looking for property values or lifestyle value, there are easy-to-implement alterations that will have an immediate impact on how much people think of your property and its worth in both ways. If you want to take advantage of these benefits, let us know! Our team is ready and waiting to partner with you to create a truly valuable home

buying a mobile home

Is Buying a Mobile Home a Good Investment?

In recent years, I’ve been feeling ready to buy my own house. The issue is that the prices for houses are more expensive than anything else on the market; so instead of buying a home, I decided it would be best if I bought an affordable mobile home and place it in a temporary park with other similar homes until they release their price range again.

On the contrary, if you want to get more value out of your mobile home over time then owning land and building a traditional house on it is not an easy task. Mobile homes in parks are affected by depreciation when they’re exposed to constant use or even just sitting for too long without being used at all. If this sounds like what’s happening with your current park situation- find one that has space available where there’ll be less exposure!
’til next week…

You may be stuck with a home that is worth less than what you owe. You will also pay higher rates and have to repay your loan faster when buying mobile homes only has the same benefits of stick-built homes like being able to move them anywhere in the country if one decides they want their house on the beach rather than near work or family members for example.

Unlike typical houses, mobile homes are not able to be moved without great expense. This makes them difficult for potential buyers and sellers alike when it comes time to relocate.

Unlike an apartment, your mobile home will be responsible for maintaining and repairing itself. That’s right – you can take the dishwasher out of its closet one day to find it has already fixed itself overnight! Leaks in the roof also seem to have a way of mysteriously fixing themselves when left unattended too long because they are so self-aware that their absence would make them feel lonely. But don’t worry about insurance either; honesty is always rewarded here at My Mobile Home Park and everyone knows how much good karma those dividends accumulate over time!

Unlike apartments where people often neglect maintenance on things like leaky roofs or broken dishes, if anything goes wrong with my own personal dwelling I’ll just let nature run her course as she does best without

Mobile homes built after 1976 are subject to standards enforced by the U.S Department of Housing and Urban Development, so you’ll find that they’re often very durable. One goal for HUD is ensuring mobile home quality construction; as a result, you might be able to purchase an affordable unit that lasts long!

With a mobile home, you are in control of when and how to sell. You may end up with some equity that can be used for whatever reason the homeowner chooses, such as buying another property or taking care of family members who need financial assistance.

If you’re looking to buy a home and don’t want all the upkeep, then consider buying yourself a mobile one. There are many things to take into consideration before making this kind of decision though like your financial goals or what type of lifestyle it will provide for you.

To ensure your mobile home is consistent with your financial goals, consider talking to a lawyer and/or an accountant. A lawyer can also answer any questions you might have about the sale or lease agreement that may arise later down the line in order for everything to go smoothly from start to finish.

 

power of attorney

What Is a Power of Attorney?

A power of attorney is an authority to authorize or perform on behalf of another. A power of attorney can be general or specific. General powers of attorneys allow the principals to conduct certain personal acts and dealings as the agent or attorney-in-fact. Such authority may be exercisable by anyone. Others require specific performance to be lawful.

 

The power of attorneys is most often used in the business and financial affairs fields. General powers of attorney give the agent permission to manage or transact business as though the principal was there. The person delegating the authority to another is usually the principal, donor, or grantor. Some jurisdictions require that any person wishing to create such a trust must first appoint an attorney in fact. In this way, the person can assure the faithful performance of duties even if they are not personally present in the offices.

 

Some jurisdictions also limit the authority of the agents to be agents for the particular transaction at hand. In most instances, however, the powers are broad and include all transactions, negotiations, and discussions of financial affairs. This includes powers not merely to manage money but also to participate in contracts, carry out research, and set up foundations, corporations, and charities. A power of attorney that limits the agent’s powers typically does so on the basis that the person using the document lacks the mental capacity to exercise management of those powers.

 

Whenever you sign a power of attorney, it is normally done so by assigning someone the legal authority to act on your behalf. The individual who signs the document must understand the principal’s role will be able to designate the right person or individuals to make decisions on your behalf. It is important that the individual exercising the power of attorney has the same level of understanding as to the principal. The principal is always the individual who has the greatest level of confidence and trust in the ability to make decisions. Therefore, it is important to protect that trust by making the attorney-in-fact responsible for all decisions made in reliance on that understanding.

 

As an example, let’s say that you want your son or daughter to develop a business. You would want the individual you have designated to make decisions on their behalf to be trustworthy. If they are not, your interests will be violated. Therefore, a Power of Attorney must be established that establishes a relationship between the principal and the individual being appointed as a representative of the principal.

 

In general, terms, when you sign a Power of Attorney, you agree that your Principal will have (and should have) certain powers and duties on your behalf and these powers must be exercised on your behalf. The Power of Attorney should not be confused with a Durable Power of Attorney, which is just as it sounds. Durable powers of attorneys last only until the time your principal dies, so you would not need to change agents if you wanted to retain the services of the agent you select.

home_buying

Do I Need A Real Estate Attorney?

When you buy a house, apartment, or commercial property what is the first thing you think of? If you are like most people the answer will be “yes” but you should really ask yourself “Do I Need A Real Estate Attorney?” The answers to these questions can and will vary from person to person.

 

You may not know that in some states there are no agents or lawyers required to purchase or sell real estate. This does not mean you can sign any blank pieces of paper without an attorney present. In fact, there are many examples of when this is very important. For example, when buying a house in Mississippi you must have a real estate agent licensed by the state. Without a real estate agent, you could spend months trying to get through all the red tape and get your dream house sold. Not to mention that if you happen to have any legal troubles down the road, your attorney will be able to help you deal with them.

 

There are other reasons for having a real estate attorney to help you. For example, many people who buy real estate don’t fully understand all of the laws that apply. Even if you have all of the facts, a good real estate attorney will make sure that everything is legally defined and that you know where you stand. If you don’t do this there is a chance that you could be sued for breach of contract, fraud, or other such charges. This could ruin your life, even though most states have no-fault divorce laws. Without a lawyer, you could be sued without even knowing it.

 

Are you purchasing real estate because you need it or are you doing it just because it’s an opportunity to make money? No matter what your motivation, you need a lawyer to help you with everything. Some people purchase property for purely selfish reasons. They may see an opportunity for making a lot of money. They may not think that they really need a lawyer.

 

However, if you are doing it for purely altruistic reasons and if you don’t know what you’re doing, then you could be in big trouble. Even if you purchase a home for your own personal use, you still need a lawyer. You need to make sure that you know what your obligations are. Without a clear understanding of what you are agreeing to do, you could find yourself in big trouble if things go south.

 

Again, no one is perfect. People make mistakes. When you make a mistake, it’s important to make sure that you fix it as soon as possible. If you are thinking about purchasing property or if you are looking for a real estate attorney, you should do your homework today and find someone who knows what they’re doing.