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One of the most important things that every veteran should know is how to evaluate a Good Faith Estimate or GFE. A good faith estimate is not just a verbal quote of how much you are going to pay but it is actually a document required by the Real Estate Settlement Procedures Act (RESPA).

If you are applying for a loan, the lender or broker should provide you a written estimate within 72 hours after applying for a VA loan.

Don’t get confused if you get multiple GFEs showing different bottom line totals. In most cases, you will receive a preliminary GFE and later, a “Final” GFE after the lender as approved the loan.

Be aware that every bank or mortgage broker will estimate costs differently but it is critical you understand what fees are stated, and whether you are being charged correctly.
Also, remember that a GFE is just an estimate – this is your loan officer’s best guess on how much it’s going to cost you to close your loan.

To make things easier, let’s breakdown the GFE into two categories: lender or broker-associated costs and other costs.

Continue reading ‘Good Faith Estimate 101 For Veterans’ »

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If the Italian real estate market is in crisis, the same can not be said for the valuable buildings that in this period have not seen large declines in price.

The area of luxury real estate suffers the effects of the crisis. But while in the case of houses more accessible to the pockets of middle class citizens there is a significant drop in transactions, for luxury properties the situation is decidedly better. So much so that, in months in which to pull the strap to the most seems to have become the byword, there is who does not mind the costs. Not everywhere is like this, in some places, the real estate crisis is a concept that glosses over the constructors. Such as Shanghai, once considered the Paris of the East, which is regaining the charm and prestige of the past.

Shanghai one of the homelands of the new luxury, who can now provide to travelers who love the prestige, the best in every respect. Even with the recession, the face of this metropolis, consisting of 20 million people, is still undergoing expansion, where districts and streets are being renovated in the Western colonial-style. New features include sidewalks of the city with bars and cafes in Western style, boutique, luxury hotels and high-end restaurants such as the one of the famous chef Jean-Georges Vongerichten.

Continue reading ‘Shanghai, the perfect place for luxury real estate investments’ »

- FINE POINTS

A. GENERAL INFORMATION, We are not acting as lenders or property buyers. We are strictly purchasers of property seller financed real estate paper. This includes notes, mortgages, trust deeds, land contracts, contracts for deeds and bonds for title. The paper must be in the first position and the payers must be current on their payments. Outside of non common situations which include inheritances, family trusts and powers of attorney, the stated note sellers must have previously been the legal property sellers (legally owned) or currently be in legal title for the related real estate property.

B. LOAN SERVICING, Most note buyers professionally service the mortgage loans they purchase. Thus, two of the benefits for the note payers are that their monthly payments are reported to the three major credit bureaus, and so they have an opportunity to increase their credit scores. Also, the note payers annually receive IRS tax form 1099s (mortgage interest) so they can deduct both the mortgage interest and real estate taxes on their yearly tax returns. Continue reading ‘Some Guidelines For a Successful Note Purchase’ »

An estate planning attorney is an integral part of developing end-of-life strategies. Lawyers who specialize in this field help individuals execute a last will and testament, durable power of attorney, healthcare proxies, and revocable or irrevocable trusts.

Hiring an estate planning attorney is necessary when individuals want to keep inheritance assets out of probate. Probate is a legal requirement in all 50 states and is used to validate wills, determine rightful heirs, settle outstanding debts, and distribute inheritance property to designated beneficiaries.

Numerous strategies exist to avoid probate. The most common include establishing irrevocable life insurance trusts, living trusts, and designation of transfer on death and payable on death beneficiaries.

On average, the probate process takes six to nine months to settle. When decedents die intestate (without a will) probate usually takes between nine months to one year to complete. Much depends on the estate value, court caseload, and family dynamics.

Working with estate planning lawyers is particularly important when family strife exists. Sadly, death can bring out the worst in people. Anger, greed and envy can drive heirs who feel slighted to contest the will and prolong probate for months or years. Continue reading ‘Do I Need an Estate Planning Attorney?’ »

It is your right to apply for grant funding from the government or private organizations if you think that you qualify. You can apply for a grant if you need to get our of debt, start your business, buy your house or renovate it, pay for your education, pay general expenses, purchase real estate, buy necessary items, cover your medical expenses, and for many other purposes.

However, the government will only approve professional, fully prepared grant applications, and most of us have never learned how to apply for a grant so we could be turned down just for making simple mistakes. In addition, there is a lot of competition for grant funding. This is where Success Grants Complete enters the picture. Continue reading ‘Success Grants Complete Review – Grants Software Kit’ »