Lynn Caldwell, ABR, ASP, ePRO's Blog - Archives January, 2009

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Home : Blogs : Lynn Caldwell, ABR, ASP, ePRO : Lynn Caldwell, ABR, ASP, ePRO's Blog : Archives January, 2009

How the FHA Mortgage Works For You - 01/07/09 02:57 PM

FHA Mortgage, How it Works
The FHA does not lend the money; it simply insures that the total mortgage will be paid to the lender if the buyer defaults. It is always the decision of the private lender (a bank, credit union, or savings and loan) to decide whether or not they will lend the money. The FHA mortgage program tends to be more forgiving than conventional mortgages in terms of past credit history. A bankruptcy discharged as little as two years ago may not hinder a homebuyer from qualifying for the FHA program.
Typically, FHA mortgages do not require more … (1 comments)

Short Sales vs. Foreclosure - 01/07/09 02:44 PM

Short Sales vs. Foreclosure
Many Sellers have come to me asking my questions about short sales. Here are a few things you need to know to help educate you on this process in case you or someone you know is starting to fall into financial hardship.
What is a Short Sale?
A Short Sale is a real estate transaction in which the debt owing on a property exceeds its actual market value.
What is a Foreclosure?
A Foreclosure occurs when a homeowner fails to make timely mortgage payments and the lender exercises the right to force a "Sherriff's Sale" to … (0 comments)

Capital Gains and Real Estate - 01/07/09 02:40 PM

Capital Gains and Real Estate
When you sell a stock, you owe taxes on your gain-the difference between what you paid for the stock and what you sold it for. The same is true with selling a home
(or a second home), but there are some special considerations.
How to Calculate Gain
In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate this:
1. Take the purchase price of the home: This is the sale price, not the amount of money you actually contributed at closing.
2. Add … (0 comments)

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Lynn Caldwell, ABR, ASP, ePRO

Saint Clair Shores, MI

More about me…

Sine & Monaghan Realtors, Real Living

Address: 18412 Mack Ave., Grosse Pointe Farms, MI, 48236

Office Phone: (313) 884-2293

Cell Phone: (586) 294-5055

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