ARCHIVED BLOG POSTS
2017
FICO® Scores and Your MortgageYears ago, credit scoring had little to do with mortgage lending. When reviewing the credit worthiness of a borrower, an underwriter would make a subjective decision based on past payment history.Then things changed.Lenders studied the relationship between credit sco...
05/25/2017
FICO® Score - a Brief ExplanationWhen you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you’ve made your payments on time. What you may not expect is that they seem to be more interested in your FICO® score.“What’s a FICO® score?” is a common reacti...
05/24/2017
Closing Costs When Buying or Refinancing a HomeThis is a detailed summary of costs you may have to pay when you buy or refinance your home. They are listed in the order that they should appear on a Good Faith Estimate you obtain from a mortgage lender. There are two broad categories of closing co...
05/22/2017
Your Savings and Down PaymentYour First Step Toward Buying a HomeWhen preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you shou...
05/16/2017
Why Do You Need Title Insurance?Title Insurance.It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the benefits and pro...
05/15/2017
Title Insurance - Where Does Your Dollar Go?Title Insurance: As a homebuyer, the term is probably familiar - but is it understood? What is your dollar actually paying for when you purchase a title policy?Title Insurers, unlike property or casualty insurance companies, operate under the theory of ...
05/12/2017
Awesome blog by Debbie Reynolds! I just had to reblog. Strategies to Make Sure Your Offer Shines in a Multiple Offer Situation Aggressive markets with low inventory create stress not only buyers but for agents, too. Nobody likes to see a buyer disappointed when their offer lost out to another ...
05/11/2017
The Functions of an EscrowBuying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. Fo...
05/09/2017
Statements of InformationWhat’s in a name?When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit.”Statements of Information provide title companies with the information they need to distinguish the buyers and sellers of real property from other...
05/08/2017
Required Reporting to the I.R.S.Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service.This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforceme...
05/05/2017
Rainmaker
1,159,148
1,159,148
Norma J. Elkins
Realtor - Elkins Home Selling Team