Four ways to avoid refinance rejection

“My application to refinance my $200,000 loan was recently turned down … do I have any recourse?” If by recourse you mean a third party of some standing who will direct the lender to make the loan, or attempt to persuade them to do it, the answer is “no.” No third party is going to …

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Prioritize trade-offs in house-vs.-condo decision

Q: What is better to buy: a house or a townhouse? A. In the house vs. condo or townhouse battle, the analysis of which type to buy is not as simple as “better” or “worse,” per se. However, there are trade-offs to each, and in the final analysis of which property type to buy, own, …

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Tips for Buying Foreclosures

The McCarty Group, a Florida real estate team specializing in Marco Island properties, has released a “Top Tips” list for buying foreclosures. Mike and Wendy McCarty of Keller Williams Realty say the tips apply to virtually all markets in the U.S. and that while many buyers have heard that there are many foreclosures on the …

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New Lending Guidelines From Fannie Mae

New lending guidelines being rolled out by Fannie Mae will make securing a mortgage a lot easier for some borrowers but harder for others. The rules, effective on Dec. 13, will allow buyers to use gifts and grants from nonprofit groups for their minimum 5 percent down payment, which is the threshold set by Fannie …

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