All articles in Tips for Home Buyers

Getting denied a mortgage doesn’t have to derail your dreams

Getting denied a mortgage doesn’t have to derail your dreams. iQualifier, a new credit management site, can help you take control of your credit and make smart financial decisions.

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What is a CLUE Report and how could it impact my mortgage?

What Is A CLUE Report?

Most of us are familiar with CarFax.  We see the commercials all the time with the Fox puppet following the prospective car buyer around warning the buyer not to purchase the car before purchasing a detailed report on the vehicle.  Believe it or not, there is a similar system that insurance carriers use for buildings, homes and the people that insure them.

Continue reading What is a CLUE Report and how could it impact my mortgage?

When Should I File a Home-Owners Insurance Claim?

We discussed in an earlier post ‘What is a CLUE Report’, how  a  Comprehensive Loss Underwriting Exchange, or CLUE Report, will track up to a seven year claims history for a property and property owner.  As you can imagine, a CLUE Report with multiple claims may cause issues if you are trying to buy, sell, or insure a property.  Most people are unaware of CLUE Reports and how they affect property ownership and protection.  CLUE Reports include not only accepted claims, but denied claims and inquiries.  They are meant to be a comprehensive record of all loss history on you as an individual and on a property. Continue reading When Should I File a Home-Owners Insurance Claim?

4 Tips for Reducing Energy Bills in Winter

Thermostat-frozen[1]It’s a fact, heating your home requires more energy than cooling it. Because winter tends to be milder in the South, when the mercury falls, people here tend to really crank the heat up.

Here are 4  time tested means to reducing your energy consumption this winter: Continue reading 4 Tips for Reducing Energy Bills in Winter

Fixing Credit Report Errors in 3 Easy Steps

Fico Score Improvement

Credit Repair Companies, even the good ones (and I say that very generously) remind me of a quote from one of my all time favorite private dick movies “the Two Jakes”. In the opening scenes Jake finds himself at the top of the heap, professionally speaking, the “leper with the most fingers.” This is how I feel about credit repair companies, even the good ones are just one finger away from being fingerless.

New Mortgage Escrow Rules for January 2014

New Mortgage Escrow Rules for January 2014

Nearly three years after passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act ,  a response to the mortgage crisis of 2007-2008 that has left millions of Americans licking their financial wounds from foreclosures and short sales; new escrow rules are published today that will go into effect January 1, 2014 and will  impact those who have a “higher-priced mortgage loan”. Continue reading New Mortgage Escrow Rules for January 2014

5 Important questions a buyer should ask a lender when purchasing house

Home buying is a daunting task and if you are a first-time buyer, then you will hardly know much about … More 5 Important questions a buyer should ask a lender when purchasing house

FAQ – Can I Close My Mortgage Loan Using a Power of Attorney (POA)?

faqUnder normal circumstances, lenders require that all parties to a mortgage agreement be present in person at settlement to sign their loan documents. However, there can be very legitimate circumstances under which it isn’t possible for the borrower to be present

Although every lender has a different policy, at AES Lending, our policy is as follows: Continue reading FAQ – Can I Close My Mortgage Loan Using a Power of Attorney (POA)?

Congress Approves Funding for USDA Rural Development Loans in Raleigh for FY2014!

With all the hoopla and political grand standing coming out of Washington DC, it is nice to see that on … More Congress Approves Funding for USDA Rural Development Loans in Raleigh for FY2014!

FAQ – How Long after a Short Sale or Pre-Foreclosure before I can Qualify for a Conventional Mortgage Loan?

Deed-in-Lieu of Foreclosure and Preforeclosure Sale

faq

Even though your mortgage payment may have never been late, these transaction types are completed as alternatives to foreclosure therefore, as you might imagine,  they are treated seriously. So serious that they often are viewed by underwriters just as serious as an actual foreclosure or bankruptcy. Continue reading FAQ – How Long after a Short Sale or Pre-Foreclosure before I can Qualify for a Conventional Mortgage Loan?