The Art of Home Purchase Negotiation - 09/28/11 03:04 PM

There is much give and take involved in negotiating a property purchase. That's why it's important to have a checklist of what you want to get out of the deal as a buyer. Bear in mind, the home must be appraised and the lender will be looking at the fair market value on a given property. Since property values fluctuate, your Real Estate Agent should do a comparative market analysis so you are aware of what the trends are for the area in which you are shopping. This will give you an idea as to whether the seller's asking price … (0 comments)

Understanding Credit Scoring & Credit Repair - 09/23/11 12:45 PM

Credit remediation is a subject consumers often face with fear and trepidation, and for good reason. With the exception of recognizing that the best score wins, the average home shopper knows very little about the whole credit scoring process. Sub-prime borrowers who are eager to move into A-Paper territory often find themselves at a loss when trying to find ways to upgrade their credit history. The good news is there are ways to improve less-than-perfect credit scores and obtain a loan for the home you really want.
 
The first step in the process is making sure that you have … (2 comments)

New Appraisal Standards Effective September 1 for Fannie Mae and Freddie Mac - 09/19/11 04:11 PM

It's finally happened: You've found the perfect home for your clients. Their financing is in place. But then...despite the comparables....the appraisal comes back low, threatening to ruin the whole deal.To help make appraisals more consistent and accurate, and prevent situations like this in the future, the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to develop the Uniform Appraisal Dataset (UAD). The UAD will (1) define what fields are required for an appraisal submission and (2) standardize both responses and definitions for certain fields.Here are just a few of the items impacted by the new appraisal standards:
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How Purchase Loans Are Made - 09/16/11 11:30 AM

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How Much Money Should You Borrow? - 09/09/11 04:31 PM

While it might be tempting to borrow whatever amount of money your lender is willing to give you, it's important to think carefully about how much you'll actually need to borrow in order to purchase a new home. From the down payment to taxes to insurance and interest rates, there are many factors to consider when making this important, life-changing decision. Contrary to popular sentiment, there is no standard formula for accurately calculating the specific dollar amount you should borrow when purchasing a new home. Many websites do offer special borrower calculators that claim to factor in important variables, and … (1 comments)

Can't Sell? Presentation is Everything - 09/08/11 02:57 PM

At times the sellers themselves thwart the efforts of the Real Estate Agent. Nothing can be quite as frustrating as trying to pull all the weight when someone else is adding to the burden by being uncooperative!If you have a seller who is not making sure their home is presentable to a potential buyer, remind them that, in a competitive market with more inventory than we've seen in some time, presentation is everything! By eliminating points the potential buyer may find fault with and bringing out the positive amenities, they are more likely to sell the home and get the … (1 comments)

Sample Credit Report Dispute Letter - 09/07/11 11:56 AM

If you have reviewed your credit report and believe that some of the information it contains may be inaccurate, you can legally dispute it via mail or, for faster results, the Internet. Once notified of a mistake on your report, a credit bureau has thirty days to investigate and respond. If the information can't be confirmed, then the item(s) should be removed.For items that cannot be resolved online or that require copies of official paperwork or other supporting documents, use the sample Credit Report Dispute Letter below as a guide. Be sure to mail your letter and documents via Certified … (1 comments)

Renters Have Much to Gain by Pursuing Home Ownership - 09/06/11 04:06 PM
 
Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.
 
Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. If you are renting, you’re helping them make their mortgage payment.
 
The numbers are staggering if you look at … (1 comments)

What is the Velocity of Money and How Does it Impact Home Loan Rates? - 09/01/11 11:22 AM

If you’ve been watching the economic news, you’ve probably noticed that market experts and traders have been keeping a close eye on the Commerce Department’s Personal Spending and Personal Income reports. Obviously, those reports provide insight into the health of our economy, but did you know they also influence home loan rates? That’s right, personal spending can actually influence the interest rates that are available when you purchase or refinance a home.
 
Here's why. It has to do with something called the velocity of money. Even though the government keeps pumping money into the system, nothing happens until that … (0 comments)

 
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Reza Abadi

Columbia, MO

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USA Mortgage

Address: 33 E. Broadway Suite 290, Columbia , MO , 65203

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