Tip Sheets Table of Contents You can access the following tip sheets merely by clicking on your selection. The tip sheets cover a wide range of topics. We add and delete from the list regularly. If there is a subject that you would like to see us address, please send an e-mail to John Fesler    . We hope the tip sheets are informative and helpful to you. Abusive Lending Practices Sub-Prime financing is coming under scrutiny. Borrowers may be impacted as fewer loan options become available. Acquiring a Loan Via the Internet It's very convenient but be sure to examine both the positives and the negatives of on line loan applications Adjustable Rate Mortgages Learn the "language" of ARM loans Appraisals - Some Basic Info What appraisers look for and have to do when appraising a home APR . . . What Does It Really Mean The Annual Percentage Rate is supposed to assist buyers in determining the cost of financing, but it doesn't always work. ARM Loan Relief Proposed guidelines may not assist many borrowers Assistance From Internet Lenders While convenient, don't expect much help from those Internet Lenders. Avoiding Foreclosure Government Options plus short sale information   Bi-Weekly Mortgages Here's how to save interest and pay off the mortgage early Buy Downs - How They Work A win-win situation for both buyer & seller Calculating the True Interest Rate Determining the impact of tax deductions and the subsequent reduction in the note rate Calculators Have fun, but don't rely upon the results Choosing A Lender Determine what is important to you when selecting your lender Closing Costs Don't be surprised by the closing costs. Closing Credit Accounts Should you close credit accounts? It Depends! Co-Borrowing - The Rules Depending upon the type of loan, there are rules governing co-borrowing Comparing Loans and Lenders Questions to ask when selecting a lender Capital Gains Tax Clarified Avoiding Capital Gains Tax upon sale of personal residence Contingencies The five steps to drafting a contingency. It is best to be specific to avoid confusion Credit Counseling Services . . . Good or Bad? Enrollment in a credit counseling program can have an adverse affect on your credit. Credit and Divorce Know what to do in advance to protect your credit if you are contemplating divorce Credit Report . . . Understanding Your History Knowing how credit history is managed is imperative in today's reliance on credit scoring Credit Scoring The new way to qualify borrowers and how it impacts the ability to acquire a loan Economic News Understanding the economic news and how it affects long term interest rates Equity Lines of Credit Equity loans are easy to acquire, but be careful of some unexpected consequences Escrow Process Some things to know about the process as well as what you can do to streamline the process Foreclosure Looms Before "walking away" from your home, here are few considerations. Homeowners Insurance What coverage do you need and how to save costs Internet Loans & Buyer Assistance Internet lenders typically look for the AAA borrowers and provide little assistance to any others Lease Option Know how it works before you obligate yourself Locking the Interest Rate Lock in or Float the Interest Rate - A tough Decision Mortgage Interest Rules Clarified The new rules allow a home owner to take advantage of equity increases every two years. 100% Financing . . . A Good Idea? Many borrowers are disappointed when investigating this option. Understand the terms before proceeding. Never a Better Time to Buy Don't wait to buy - there's nothing like owning your home Niche Financing Credit challenged? There may be loan for practically everyone Pest Control Report Rules . . . Vary With Loan Type The rules change depending upon the type of loan the borrower acquires PMI - When Can You Cancel New rules govern lenders - you may be eligible for cancellation of your Private Mortgage Insurance Pre-Approval Letters There is a strategy for when pre-approval letters should be provided and what they should say Preparing Your Home For Sale Some easy and inexpensive things to do to make sure your home "shows" well Real Estate Advertising Here's how real estate advertising really works and you may need it to sell Refinancing Determining if a refinance would be appropriate for you. Reverse Mortgages While these loans can provide much needed income to elderly homeowners, there is much to cautious about Sellers Should be Pre-Approved Too Avoid disappointment - qualify before you sell Singles Buying Together Determine in advance what happens if it doesn't work. Sourcing the Funds Lenders need to know the source of all funds in a real estate transaction Supplemental Taxes Don't be confused or surprised by this tax liability that occurs in practically all real estate transactions Taking Title - A New Form Taking title as Community Property with Right of Survivorship gives married couples the best of two worlds Tax Deferred Exchanges Exchanges can be easy, but you must know the rules Title Insurance - Basic Information While seldom used for claim purposes, title insurance represents a bargain for protection purposes Title Insurance The method selected to hold title has tax ramifications as well as other considerations. Transfer Disclosure Statement This form is required in all real estate transactions including "for by sale by owner" sales Understanding The IRS Code The IRS uses a certain "language" when referring to real estate transactions Web Sites & Information A few web sites around consumer laws and regulations related to real estate, mortgages and home loans When the FED Changes Rates Why do long term rates often increase when we hear that the FED lowered rates? When Your Loan Is Sold Know what to expect. Why Select an Adjustable Rate Mortgage While a fixed rate loan is the usual choice, there are reasons to use ARM financing You May Be Missing Some Business There are good reasons for using professional representation rather than selling yourself

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