The year 2013 was an absolutely crucial one for all present and future California homeowners. That was the year that a landmark piece of legislation, the California Homeowner Bill of Rights (CHBOR), was enacted into law. This bill curbed what many saw as overly aggressive excesses by lending institutions who were all too eager to foreclose on families who fell behind on their mortgage.
2016 has been an exciting year for the mortgage market so far. Over in the US, Janet Yellen has raised the Federal funds rate by a quarter of a percent. But here in the UK, interest rates remain rock bottom after nearly seven years close to zero. It’s not clear how much longer rates can stay so low, but it’s good news for people wanting a mortgage.
For first time buyers, the process of applying for a mortgage and moving into their first home can be arduous. Obviously, it’s something you’ve never done before, and that brings with it a set of pitfalls that you must be aware of.
You need to sell your home, and you need to do it now. Maybe you’ve just got a job in another part of the country. Maybe you’re just really desperate for cash. Or maybe it was built over a holy burial ground and you’ve had enough of all the mean ghosts. Whatever your reason is, you need to get out of there and get your hands on the resultant cash as soon as possible. Continue reading “Need to Sell Your Home Quickly? Don’t Make These Mistakes”
For a young a couple, buying a first home can seem like an impossible financial burden. You need to think about mortgages, repayments, bills and tax. It may make some potential young buyers dismiss the idea completely. But, you shouldn’t do that because buying your house is a big part of life. Being able to afford to do this is a tremendous achievement, and it should not be disregarded too quickly. Instead, you should look forward to making your new house a home. Of course, first you have to buy it, and there are a few pitfalls you want to avoid.
It is easy for a first-time home buyer to get lost among the different types of mortgages available. Here is a discussion of the various types of mortgages.