What Mom Never Told You About Private Mortgages


Of course you are most likely well versed in all of the hoopla you see in the media about mortgages and mortgage lending as well as the supposed recovery of the real estate market in many areas of the country. At the same time, you may feel you are getting the proverbial short end of […]

Square Peg In Round Hole Mortgages?

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Most likely you have noticed that the credit market, especially for residential mortgages, just ain’t what it used to be. Instead of offering mortgages to anyone and anybody as long as they had a pulse, nowadays it’s almost the exact opposite. Not only do you need spectacular credit, a significant down payment amount, or existing […]

American Dream or American Nightmare?

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Does owning your own home or better yet, working and slaving away to even qualify to own your own home even makes sense anymore? Is it about time to reexamine the tired old advice from Grandpa about the importance owning your own home? Has the world and society changed so much and so fast that […]

7 Things Every Renter Should Know that Your Landlord Won’t Tell You


The debate surrounding the relative merits of owning versus renting one’s home will continue ad nauseam. I have a foot firmly planted in each camp. However, for many, renting is not just a personal choice, it is a financial necessity. The dwindling middle class, victims of stagnant wages and diminished job opportunities, have unacceptable credit […]

What is an Appraisal?


When it comes to buying a house, there is so much to do even after you’ve made an agreement and created a purchase contract with the seller. One of the things you may have to do includes having the home appraised. In some cases you won’t, and it will depend on your circumstances. Appraisals are […]

What is a Home Inspection?

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Once you have made a purchase contract with the seller, your job isn’t done. You cannot sit back and relax until closing because you have several things that you need to accomplish in the meantime. For example, you will need to find a home inspector, and you will need to schedule time for a home […]

How to Buy Real Estate with No Down Payment, No Mortgage and No Land Contract…Ever!


I know what you are thinking—just another misleading headline to attract attention. Nope! The Real Estate Investment Trust (REIT) really does allow you to invest in real estate with none of the entanglements you normally associate with owning property and it is as easy as buying  stock. The Real Estate Investment Trust is an indirect […]

What is a Purchase Contract (in Real Estate)?

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Before you get to the purchase contract, you have to make an offer, which is the exciting part! You’re actually making an offer on the home that you want. Will the buyer accept it? Will he counter? You’ll just have to wait and see.

What is an FHA Loan?

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FHA (Federal Housing Association) loans are insured by the Federal Housing Administration, are available to a number of people, including first time homebuyers.

Reader Question: Closing Costs vs. Mortgage Points


Do you have a financial question? If you do, you definitely aren’t the only one. I get frequently get financial questions, and I do my best to answer some of them on the site. For example, Tya, recently emailed me to ask a question for one of her friends. She told me, I have a […]

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