Applying for a home loan may not be the most exciting way to spend your time, but if you are like many potential homeowners, it is probably a necessary evil. If you have some knowledge of the process ahead of time, however, it will go much more smoothly.

Home loan applications tend to be very long, but if you are prepared ahead of time you can finish the application procedure without breaking a sweat. Before you begin filling out the form, make sure you have available your Social Security number, information pertaining to previous employers and residences, recent pay stubs, copies of credit card and loan statements, copies of bank statements and asset information such as stocks, pension and retirement funds. Begin the form by simply filling out each line with the requested information but leave Section I, entitled Type of Mortgage and Terms of Loan, blank.

Next fill out Section II, Property Information and Purpose of Loan, with any of your available information. Only fill in the subject property address line, however, after you have an accepted offer on a property. If you don't have a property yet, simply state the purpose of the loan as purchase or refinance, as well as the type of property the loan will cover (primary, secondary, or investment). Also write down all the names in which the title will be held, how the title will be held, and the source of the down payment (this is usually in cash).

In Section III, Borrower Information, you must fill out your personal information including name, Social Security number, phone, age, years in school, marital status, number of children and their ages, and present and previous employers.

Section IV is Employment Information, while Section V is Monthly Income and Combined Housing Expense Information (use your pay stubs for this section).

Section VI, Assets and Liabilities, can be filled out using bank statements, as well as credit card and loan statements. Leave Section VII, Details of Transaction, blank.

Finally, answer the question in Section VIII, Declaration, then sign and date the application. Also sign Section IX, Acknowledgement and Agreement.

By Jakob Jelling
http://www.cashbazar.com

Add Touches of Comfort to Make Your House a Home

  It's amazing how a few touches of comfort can transform your house into a home, with just a little effort and expense.

Fresh flowers are always welcoming. If you have a table in your hall, try to have a vase of fresh flowers adorning the table at all times. The dining room is another place in which fresh flowers can be appreciated. Flowers picked from your garden are a good choice, because they provide a showcase for your gardening talents at no cost.

A pleasantly fragranced home can be easily achieved by placing air fresheners unobtrusively in strategic places throughout your home. Plug-in air fresheners that enable the room to be filled with bursts of fragrance throughout the day are particularly useful if your home is unoccupied in the daytime.

Hardwood and tiled floors are great to look at and easy to keep clean. However, they are not as comforting as carpet. Add a plentiful supply of soft rugs to your wooden or tiled floors, especially in places where people's bare feet are likely to touch the ground, such as at the sides of beds and in front of sofas.

Cushions always make life more comfortable. Ensure that your dining room chairs are well cushioned, especially before a dinner party. Add soft cushions to sofas, armchairs, beds, hall seats and other areas of the home where people may sit.

In the winter months, it's great to snuggle under a blanket or throw whilst reading or watching television on a sofa, chair, bed, or window seat. Ensure that a throw is always within reach in each of the rooms where your family or friends chill out in the winter.

Place a pump of moisturizing hand wash soap and a tube of hand cream next to the sink, the wash basin in the bathroom, the downstairs cloakroom, and everywhere else in your home where people may wash their hands. This makes life easy and comfortable for your family and guests.

If you have a guest room, ensure that the bed is always made up with freshly laundered linen, so that an unexpected overnight guest can be quickly and easily accommodated. Place at least two clean towels on the bed and ensure that there are some books and magazines in the room. A basket of sample-size toiletries gives a hospitable finishing touch to the guest room and, when you are expecting guests, add some fresh flowers as a final flourish.

With just a few touches of comfort, your family and your guests alike will notice and appreciate just how welcoming and hospitable your home is.

Due in part to the popularity of the U. S. Department of Housing and Urban Development (HUD)s home auction program, more potential homebuyers than ever are buying homes at auction. Homes for auction arent limited to just HUD, however. Many government entities auction homes for payment of back taxes, and some homeowners even auction their homes on eBay.com!

Homebuyers considering buying a home at auction should take some steps in advance to help them with their bid price, and even whether to bid at all on a specific home. There will always be a degree of risk when buying a home this way, but with a little diligence, potential homebuyers could save a lot of money buying in this manner.

Before the auction, you should have your financing arranged, and have enough cash on hand or in your bank account to cover a deposit on your purchase. You need to check the features, location, condition, and ownership history first. Afterwards, be sure to learn what the property is worth by looking at sales of comparable properties in the same area. Compare homes with the same number of rooms is possible, but be sure to allow for price differences due to pools, decks, carpeting, window treatments, etc.

At the auction itself, resist the temptation to get into a personal bidding war, just to beat out the other guy. Have a set price limit and stick to it. Other houses will come along, and you dont have to win the first auction that comes your way.

You should know that the price of a home at auction is typically the loan balance (if foreclosed), plus any back taxes owed, plus legal fees and other expenses in foreclosing the property. This will typically be the opening bid amount, and the price will go up from there. Even so, its possible to get a great deal in an auctioned house, with a little research and planning first.

Also, know that you probably wont be able to get an inspection, and are buying the home as is. If you cant do any needed repair work yourself, or cant hire it done within your budget, you may not end up getting such a bargain in the end.

Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.