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Tip Sheets

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 may be coming back
History can keep us from repeating bad practices

Accessory Units

Accessory Dwelling Unit or Mother-in-Law Unit

Is there a difference?

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

Appraisal Process Explained
All of the changes have not necessarily
been best for consumers

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.

Assistance From Internet Lenders
While convenient, don't expect much help from those
Internet Lenders.

Avoiding Foreclosure

Foreclosure reductions means more emphasis on short sales

Educate yourself before going that route


Being Best Served by Your Realtor
Tips for working well with your Realtor

Remaining loyal is your best bet

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

Buy First or Sell First
There is no clear answer to this conundrum

Calculating the True Interest Rate
Determining the impact of tax deductions and the
subsequent reduction in the note rate

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
New tax legislation does not
much affect this benefit

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

Doís & Donítís
What to do and not do when applying for 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.

Foreclosure Rescue Scams
Be aware of the many ways you can lose your home

Free Credit Reports Ė Their Reliability
Get an idea of your score but know it
will likely be different than a FICO score

Good Faith Estimate (GFE) Form
A glimpse into the past
shows how disclosure rules evolve

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

Loan Estimate and Closing Disclosure Forms
These are the latest forms attempting to provide
understandable disclosure information to buyers

Locking the Interest Rate
Lock in or Float the Interest Rate - A tough Decision

Making Home Affordable
About to expire
this program is worth a glimpse

Mortgage Interest Rules Clarified
The new tax law
is unlikely to affect this benefit

100% Financing . . . A Good Idea?
Guaranteed Rural Housing Loan . . . the only Option
Understand the terms before proceeding.

Need Insurance
You will need homeownerís insurance.
Donít wait until the last minute.

Negotiating Fees
This isnít as easy as it seems it should be . . .
See why.

Never a Better Time to Buy
Don't wait to buy - there's nothing like owning your home

Niche Financing
Be careful of this new sub-prime look alike loans

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

Property Assessed Clean Energy (PACE)
These loans are being heavily promoted Ė be

Cautious and be sure you fully understand

Real Estate Advertising
Here's how real estate advertising really works

Determining if a refinance would be
appropriate for you.

Rent vs Buy
The taxable benefits of buying may be a
game changer in your decision

Request for Repairs - Avoid this Deal Killer.htm
Sellers can resolve this potential problem
when they list their property for sale

Reverse Mortgages
While these loans can provide much needed income
to elderly homeowners, there is much to cautious about

Risk Based Pricing
Every loan is made based on the perceived risks
the lender will face.

Sellers Should be Pre-Approved Too
Avoid disappointment - qualify before you sell

Shopping Interest Rates
Some things to know about obtaining interest rates

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

The 3 Cs of Borrower Evaluation
Every Lender Evaluates Risk Using
This Criteria

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

A look at what the credit
future might look like

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
Selling your own home may not be the

work out as anticipated.