Posts Tagged ‘Hixson Real Estate’

Was Your Hixson Real Estate Financing Declined?

Tuesday, March 16th, 2010

If you’ve recently applied for credit to finance a Hixson home purchase, and were declined, you might be wondering why a lender would deny you credit.  Most lenders have a checklist of qualifications necessary to get approval for a home loan, and some don’t have anything to do with what your credit score is.  Here are the basic reasons a lender may deny a mortgage loan:

  • Little or no credit.  You may be under the mistaken impression that no credit is better than bad credit, but you’d be wrong.  A blank credit history is not something a mortgage lender wants to see.  A lender needs some idea of how you make payments.  You can build your credit history by getting a department store credit card, and only using thirty percent of your available credit to make a purchase.  Making regular payments will soon add up to good credit, and lenders will look more favorably at your loan application.
  • Bad Credit.  It’ll be difficult to find a lender that will approve a person with bad credit.  It’s not the end of the road.  You can improve your credit score with a little hard work and still buy that Hixson home you want.  You’ll want to get a copy of your credit report from all three of the major credit bureaus.  If you have frequent late charges or many items in collections, you’ll need to call each company and arrange to get your accounts current.  You’ll be surprised at the difference each timely payment makes on your credit score.
  • Credit-to-Debt Ratio.  Most mortgage lenders will decline a loan application if your credit to debt ratio is too high.  The ratio is figured by dividing the amount of credit available to you by the amount that you are actually using.  Using all or a high percentage of the credit available to you may leave the impression that you are short on money and will have trouble making loan payments.

Let me help you get on the road to a Hixson real estate loan.  Call me at 423-488-1882 or email me at travis@travisclosehomes.com for more information.

Keyword/Tag: Hixson real estate

LINKS:

Build your credit history:

http://articles.moneycentral.msn.com/CollegeAndFamily/MoneyInYour20s/9waysToBuildAKillerCreditScore.aspx

Improve your credit score:

http://www.myfico.com/CreditEducation/ImproveYourScore.aspx

Credit-to-debt ratio:

http://michaelbluejay.com/house/debt-ratio.html

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Should You Get a 15-Year Mortgage on Your Hixson Real Estate?

Tuesday, December 1st, 2009

 

There are a lot of financing options to help you buy Hixson real estate, if you can meet the credit guidelines. 

 

Most lenders prefer to use 30-year mortgage loans.  With a longer loan term, the lender can collect more money in interest over the life of the loan.  For those who are credit-worthy, a 15-year mortgage term may be offered.  So, what is the difference between the two?  Here are a few guidelines:

 

What About a 30-Year Mortgage?

Thirty-year mortgages are becoming the normal term for Hixson real estate loans.  The payments are usually more affordable and lenders are quick to recommend them.  Lenders are more likely to offer you a higher loan amount with a 30-year loan, but the trade off is usually a higher interest rate. 

 

What Are The Benefits Of A 15-Year Mortgage?

Signing up for a 15-year mortgage can save you a lot of money in interest payments.  True, your monthly payments will be higher than with a 30-year loan, but the impact on your long-term finances may be worth it.

 

After just 16 years, you can start investing the money that you’re no longer spending on your mortgage into other real estate properties or investment opportunities.  You can build your investment portfolio with just the money you would’ve spent on your monthly mortgage payment.

 

What about Prepayments?

Even if you do decide to take out a 30-year loan, you can still have some of the same benefits of the 15-year loan.  By making prepayments, you can take years off a 30-year loan and still have the freedom of making smaller monthly payments, if you need to.  Before finalizing your decision, ask your lender if there are any penalties for making prepayments.

 

A 15-year mortgage is usually the better financial decision, because you can save thousands of dollars over the life of the loan.  The interest on a loan may be halved by choosing a 15-year loan.

 

No matter how you choose to finance your Hixson real estate, I can help you find the home that meets your needs and budget.  Call me today at 423-488-1882 or email me at travis@travisclosehomes.com  for more information.

 

Keyword/Tag: Hixson real estate

 

LINKS:

Benefits of a 15-year mortgage: 

http://financialplan.about.com/lw/Business-Finance/Personal-finance/15-Year-Mortgage.htm

 

Investing:  http://en.wikipedia.org/wiki/Investment

 

Prepayments:

http://www.mortgageqna.com/mortgage-terms-glossary/prepayment-definition.html

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Holiday Candle Safety in Your Hixson Condo

Friday, November 20th, 2009

More festive candles are used in your Hixson condo during the holidays than at any other time of year, so it’s important to review the safety rules.  Here are few tips to keep your condo safe:

 

Candle Placement Preparation

It may sound silly, but you need to prepare before you light that candle.  First figure out where you want to place the candle in your Hixson condo. 

  • Find a heat resistant surface. 
  • Make sure there aren’t any books, papers, curtains, or bedding nearby. 
  • Watch out for flammable holiday decorations. 
  • Keep the candle away from windows and vents, and check for signs of a draft. 
  • Place the candle where children and pets can’t reach and where it isn’t likely to be bumped into.

 

Getting Ready to Light the Candle

  • Before burning the candle, review the manufacturer’s instructions.  Most recommend that the wick be trimmed to ¼ inch before lighting. 
  • Make sure to use only approved candle holders.  Using an unapproved glass holder could cause it to burst and send glass everywhere. 
  • Place candles at least three inches apart so the additional heat doesn’t cause them to melt improperly.

 

Burning the Candle

Now that the candle is lit, make sure to never leave it unattended.

  • Watch the candle to see if it smokes or flickers a lot.  This could be a sign that the candle isn’t burning properly. 
  • Leave about two inches of wax when you extinguish the candle.  Most manufacturers recommend that you don’t burn the candle all the way down. 

 

Putting the Candle Out Safely

The safest way to put out a candle is with a candle snuffer. 

  • Don’t use your fingers or blow out the candle; the flame may travel and cause a fire.
  • Never use water to put out a candle; the wax may splatter and burn you. 
  • Wait until the wax is cooled before you move the candle.

 

Candles are a beautiful way to decorate for the holidays in your Hixson condo.  By following these simple safety suggestions, you can help to ensure that your holidays are happy and safe. 

 

If you’d like to be in a new condo before the next holiday rolls around, I can help. Call me at 423-488-1882 or email me at tclose@realtycenter.com  for more information.

 

Keyword/Tag: Hixson condos

 

Links:

Heat resistant: http://www.candle-safety.org/

 

Candle holders: http://www.ehow.com/articles_4355-candles-candle-holders.html

 

Candle snuffer: http://en.wikipedia.org/wiki/Candle_snuffer

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Helping Families Save Their Hixson Homes

Tuesday, November 3rd, 2009

By now, everyone knows that, just like the Dot Com bubble, the real estate market grew its own bubble to a degree that it finally popped.  Foreclosure numbers went up, sales went down and everyone, from the government to lenders to John Q public, started looking around for someone they could point a finger at and blame.

 

The hard truth is that placing blame doesn’t do anyone any good, especially those trying to save their Hixson homes. The truth is that it’s time to do what Americans have been doing since the country was founded – picking ourselves up off the ground, dusting off and working with what we still have. Thanks to new acts such as the “Helping Families Save Their Homes Act of 2009,” it’s even more possible to do that.

 

If you’ve been dealing with the possibility of foreclosure, you may have missed the news, so here are a few uplifting highlights that can make all the difference:

 

  • If you rent your Hixson home and the home is foreclosed upon, you have to receive a 90-day eviction notice. You can’t just be preemptively kicked off the property. As well, if you have a lease you have to be allowed to live on the property until the lease is up unless:

 

a)      the new owner wants to move in and make it his or her residence or

b)      state law says the lease can be terminated on notice.

 

Although three months doesn’t seem like a lot of time, that’s three months you wouldn’t have had in most states before the Act was passed.

 

  • Lenders and homeowners are now receiving incentives for successful loan modifications and refinancing under the Making Homes Affordable Program. According to the White House government website, “Servicers covering more than 75 percent of loans in the country have now begun modifications and refinancing under the Administration’s MHA Program.”

 

  • One of the biggest challenges to homeowners is finding out who owns the mortgages on their homes.  This can make it incredibly difficult to discuss refinancing or modification with the mortgage owner. Thanks to the Act, you have to be informed whenever your loan is sold or transferred to another party. Now, you always know who has control of your mortgage and who you need to talk to.

 

Dealing in the current real estate market can be hard. If you’re already struggling financially, it can be even harder. Try to keep abreast of the current laws that can help homeowners and families keep their Hixson homes!

 

If you can’t qualify for loan modification or refinancing, and are considering a short sale, I can help. Call me at 423-488-1882 or email me at travis@travisclosehomes.com  for more information.

 

Keyword/Tag: Hixson homes

 

Links:

Foreclosure numbers went up

http://www.realtytrac.com/foreclosure/foreclosure-rates.html

 

Helping Families Save Their Homes Act of 2009

http://www.zillow.com/blog/mortgage/2009/05/21/president-obama-signs-helping-families-save-their-homes-act/

 

White House government website

http://www.whitehouse.gov/the_press_office/reforms-for-american-homeowners-and-consumers-president-obama-signs-the-helping-families-save-their-homes-act-and-the-fraud-enforcement-and-recovery-act/

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How The Stimulus Plan Helps You Buy a Hixson Home

Tuesday, June 23rd, 2009

The new stimulus plan has given many people new hope for their housing futures. At first, many worried that the stimulus package would merely help the banks and other financial institutions and not the actual homeowner looking to buy a Hixson home. But, it has become clear that the people who really win with the new plan are those who count—prospective home buyers.

Stimulus for Banks and Buyers

The stimulus package provides huge tax rebates in 2009, and while that is a limited provision, the savings are enormous for those who get out there and buy a new Hixson home. The fact that the stimulus plan includes relief for the struggling financial industry also helps buyers by making it more likely they will be able to obtain loans.

Stimulus for Luxury Properties

The stimulus package gives the two major government mortgage companies Fannie Mae and Freddie Mac more power and allows for larger loans for higher priced properties. That is a big incentive if you’re looking to buy in a major metropolitan area because you will now be able to get a loan secured by Fannie or Freddie.

The economic boost from the stimulus package will require a little time to really become apparent, but it is working, even now. Slowly the market is rebounding and new home buyers are able to take advantage of loans and tax incentives while getting houses at prices that are extraordinarily low.

If you would like more information on how the stimulus package can help you buy a new Hixson home, give me a call at 423-488-1882 or email me at travis@travisclosehomes.com .

KEYWORDS: Hixson home

LINKS:

stimulus plan: http://www.reuters.com/article/businessNews/idUSN2532530920080125?feedType=RSS&feedName=businessNews

Fannie Mae and Freddie Mac: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019#fannie

How the stimulus package can help you: http://www.usatoday.com/money/economy/2009-02-12-stimulus-package-effects_N.htm

Travis Close

ABR, GREEN, e-PRO

Prudential RealtyCenter.com

423-886-2601

423-488-1882

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Should You Get A Reverse Mortgage On Your Hixson Home?

Sunday, April 19th, 2009

Commercials are all over the TV about getting reverse mortgages on your Hixson home.  Sounds great, but there’s a lot of conflicting information going around about reverse mortgages.  Can you qualify for a reverse mortgage?  Will it affect your Social Security benefits or Medicare coverage?  Here are some quick answers to your reverse mortgage questions:

·         Who qualifies for a reverse mortgage?  The very first requirement is that the borrower be at least 62.  There aren’t any income or credit limitations for a reverse mortgage, and the down payment can be included in the loan.  Even if you don’t have money to put down, and you’re on a fixed income, you can be approved for this type of loan.

·         How much can I get with a reverse mortgage?  A reverse mortgage is based on the equity in your home and the age of the youngest borrower.  An older borrower will be able to get a higher loan amount than a younger borrower.

·         What is the approval process like?  The loan process is similar to that of a conventional mortgage.  Your Hixson home will have to be inspected and appraised for a reverse mortgage.

·         How will I get my loan?  You can receive your loan as a lump sum, a line of credit, or even get monthly payments sent to you.  A line of credit will have a variable interest rate, but because you are only paying interest on the money that you have actually borrowed, you could actually save money on interest.  You can use the line of credit just like a checking account.  Loan proceeds from a reverse mortgage can be used for anything you want.

·         Will a reverse mortgage affect my Social Security benefits or Medicare?  No, funds from a reverse mortgage do not affect government benefits.

·         When do I have to repay the loan?  You will not have to make a payment the entire time you live in your Hixson home. 

A reverse mortgage could help make your later years financially easier.  But, before making a decision to get a reverse mortgage be sure to read all the fine print and do your homework to be sure this is the best financial decision for you. 

If you’d like more mortgage and homeownership related information like this, please subscribe to my blog.  Subscribing is free, and it allows you to get tips like these automatically emailed to your inbox.

KEYWORD: Hixson home

Travis Close

ABR, GREEN, e-PRO

Prudential RealtyCenter.com

423-886-2601

423-488-1882

 

 

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When Can You Buy Hixson Real Estate After Foreclosure?

Monday, March 30th, 2009

If you lost your Hixson real estate because of foreclosure, you probably haven’t given up on your dream of owning a home.  You may be scared to try for financing – afraid you’ll be turned down and embarrassed in the process. 

 

There are few guidelines that lenders follow to determine when you’ll qualify for financing after foreclosure.  Arming yourself with this information will help you overcome your fears and qualify again for a mortgage.

 

Foreclosure With Extenuating Circumstances

Generally, lenders will take into consideration any extenuating circumstances surrounding the foreclosure on your Hixson real estate.  Was there a death or illness that prevented you from earning money to pay your mortgage?  Did you have a job transfer that came with a steep pay cut?  Were you severely injured and temporarily disabled as a result?

 

You can add a memo to your credit report that explains any lapses in credit worthiness to potential lenders.  This report can be up to two hundred words and will be shown to all who look at your credit report.

 

Many lenders will shorten the waiting period for documented extenuating circumstances.  The customary waiting period after a foreclosure is at least seven years.  But with documentation, the waiting period can be shortened to as little as three years.

 

Deed-in-Lieu Of Foreclosure and Short Sale

You may be wondering what the waiting period for financing is for deed-in-lieu of foreclosure or in the case of a short sale.  Fortunately lenders aren’t quite as strict if you were able to avoid an actual foreclosure sale.

 

The waiting period for a deed-in-lieu of foreclosure is four to seven years.  If there were special circumstances surrounding the deal, you may be able to qualify in as little as two years.  The lender may require a certain down payment or credit score as a condition of approval.

 

Getting financing after a short sale is the easiest.  Generally the lender will only require a two year waiting period before they’ll approve financing. 

 

The good news about financing after foreclosure is that it is possible.  Your dreams of owning Hixson real estate don’t have to end because you’ve had a foreclosure in your past. You may just have to be a little more patient.

 

Whether you’re ready to buy your next home or simply have a question about Hixson real estate, I’d love to help.  Give me a call today at 423-488-1882 or email me at tclose@realtycenter.com .

 

KEYWORD: Hixson real estate

 

LINKS:

1.  Foreclosure: http://www.hud.gov/foreclosure/index.cfm

2.  Deed-in-lieu: http://www.nolo.com/definition.cfm/Term/3DEC1C75-225E-4AF0-8CB7B778DB615B27/alpha/D/

3.  Short Sale:  http://www.nolo.com/definition.cfm/Term/51715E63-5BC5-4DCE-B5E96F71DFF3D5AB/alpha/S/

 

Travis Close

ABR, RCC, GREEN

Prudential RealtyCenter.com

423-488-1882

423-886-2601

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Posted in Chattanooga Real Estate, Foreclosure, Hixson Real Estate | No Comments »

Stimulus Plan Brings Hope to Chattanooga Real Estate

Saturday, March 21st, 2009

The President’s stimulus plan has many hoping for a ray of sunshine in a gloomy Chattanooga real estate market. Here are a few ways the new plan can help give the market a shot in the arm:

·         The stimulus plan includes a financial boost for the mortgage industry to help with new loans on housing.

·         There is a tax incentive included that will give first-time home buyers a huge tax break.

·         50 billion dollars targeted at bailing out failing mortgage institutions means there will be financial opportunities for home buyers.

Along with the stimulus plan, home sellers are getting creative in selling their homes. Making sure their properties are in excellent condition and have good curb appeal is more important than ever before. Selling your Chattanooga real estate is easier, faster and more profitable for you if your home is appealing as possible.

Tips to Help Home Sellers:

·         Clean up the clutter. Get rid of the things you don’t absolutely need. We all have much more in our homes than we actually use. If you don’t want to throw it away, put it in storage until you get into your new home.

·         Spruce it up. A fresh coat of paint and a good steam cleaning for the carpets goes a long way toward making your home more appealing.

·         Create curb appeal.  If the exterior of your home is unattractive, buyers will drive away without looking inside.  Clean or paint your front door and trim your lawn and bushes.  Another inexpensive way to update your home’s exterior is to replace old hardware such as house numbers and overhead light fixtures.

·         Price it right. Ask a professional real estate agent for his opinion on a good price for your home. There is no room for sentiment in the current housing market.

Find out other ways your Chattanooga real estate professional can help you sell your home faster and for the most money.  Call me today at 423-488-1882 or email me at tclose@realtycenter.com .

KEYWORD: Chattanooga real estate

LINKS:

Stimulus plan: http://uk.reuters.com/article/usPoliticsNews/idUKTRE51G5X720090218?pageNumber=2&virtualBrandChannel=0

Create curb appeal:  http://homebuying.about.com/cs/sellerarticles/a/curb_appeal.htm

Selling your [city] real estate: http://homebuying.about.com/od/sellingahouse/qt/012308_B4Sellng.htm

 

Travis Close

Prudential RealtyCenter.com

1315 Taft Highway

Signal Mountain,  TN 37377

423-886-2601

423-488-1882

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Should You Get A 15-Year Mortgage On Your Hixson Real Estate?

Friday, March 13th, 2009

There is lot of financing options to buy Hixson real estate, if you can meet the credit guidelines. 

 

Most lender’s prefer to use 30-year mortgage loans.  With a longer loan term, the lender can collect more money in interest over the life of the loan.  For those who are credit-worthy, a 15-year mortgage term may be offered.  So, what is the difference between the two?  Here are a few guidelines:

 

What About A 30-Year Mortgage?

Thirty-year mortgages are becoming the normal term for Hixson real estate loans.  The payments are usually more affordable and lenders are quick to recommend them.  Lenders are more likely to offer you a higher loan amount with a 30-year loan, but the trade off is usually a higher interest rate. 

 

What Are The Benefits Of A 15-Year Mortgage?

Signing up for a 15-year mortgage can save you a lot of money in interest payments.  True, your monthly payment will be higher than with a 30-year loan, but the impact on your long-term finances may be worth it.

 

After just 16 years, you can start investing the money that you’re no longer spending on your mortgage into other real estate properties or investment opportunities.  You can build your investment portfolio with just the money you would’ve spent on your monthly mortgage payment.

 

What About Prepayments?

Even if you do decide to take out a 30-year loan, you can still have some of the same benefits of the fifteen-year loan.  By making prepayments, you can take years off a 30-year loan and still have the freedom of making smaller monthly payments, if you need to.  Before finalizing your decision, ask your lender if there are any penalties for making prepayments.

 

A 15-year mortgage is usually the better financial decision, because you can save thousands of dollars over the life of the loan.  The interest on a loan may be halved by choosing a 15-year loan.

 

No matter how you choose to finance your Hixson real estate, I can help you get the best buy.  Call me today at 423-488-1882 or email me at tclose@realtycenter.com .

 

KEYWORD: Hixson real estate

LINKS:

1.  Benefits of a 15-year mortgage:  http://financialplan.about.com/lw/Business-Finance/Personal-finance/15-Year-Mortgage.htm

2.  Investing:  http://en.wikipedia.org/wiki/Investment

3.  Prepayments: http://www.mortgageqna.com/mortgage-terms-glossary/prepayment-definition.html

4. My site: http://www.travisclosehomes.com

Travis Close

ABR, e-PRO, EcoBroker

Prudential RealtyCenter.com

(Cell) 423-488-1882

(Office) 423-886-2601

1315 Taft Highway

Signal Mountain, TN 37377

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Increase The Value Of Your Hixson Home In A Few Easy Steps

Friday, March 13th, 2009

 

To get a Hixson home to sell during a buyer’s market, it needs to look better than the other houses on the street.  Making just a few quick changes can make all the difference when trying to best the competition.  Here are a few things to do to make your home stand out:

 

A Fresh Coat of Paint

 

Few things can spruce up a Hixson home like a fresh coat of paint.  Be sure to pick a neutral color.  Potential buyers won’t be able to see themselves decorating and living in the home if they see too much of someone else’s personality in the wall color.  Most home improvement stores will have color cards you can look through, this will help you find the most neutral color you can live with.  While you’re at it, get rid of all the knickknacks and other items that may clutter up your home, and the prospective buyer’s mind.

 

Fix The Flooring

 

You don’t have to buy new carpet, but you need to make sure it’s clean and in good condition.  Be honest, if you wouldn’t want to inherit the flooring, no one else will either.  If after cleaning and making repairs the carpet does not look up to par, replace it.  Repair any gouges in the linoleum or hardwood floors.  Don’t let bad flooring ruin your chances of a good sell.

 

Keep Up The Maintenance

 

Before selling your home, walk through each room and make a list of what needs to be done.  Take note of the little things.  Look at the window frames, the caulking in the bathroom, and check out the condition of your gutters.  Do they need cleaning or is bigger repair in order?

 

Have someone come out and inspect your furnace and air conditioner for needed repairs.  Even the plumbing should get a once over.  The roof of your house needs to be inspected too.  Arrange to make repairs as soon as possible. 

 

If you’re unable to make these needed repairs, be prepared to lower the price of your Hixson home as much as two dollars for every dollar of repair work needed.  These simple things can make the difference in a buyer’s market.

 

Thinking of selling your home?  Let me help you sell it as fast as possible for the best price.  Call me today at 423-488-1882 or email me at tclose@realtycenter.com .

 

KEYWORD: Hixson home

LINKS:

Paint: http://www.color-chart.org/behr-paint-color-chart.php

Hardwood floors: http://www.woodfloordoctor.com/_how_tos/articles/repairconanddiy.shtml

Gutters: http://www.guttersupply.com/

 

 

Travis Close

ABR, e-PRO, EcoBroker

Prudential RealtyCenter.com

1315 Taft Highway

Signal Mountain, TN 37377

423-488-1882       423-886-2601

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