A home inspection investigates the security of the property and current condition.
The buyer arranges and pays for a house inspection and, depending on its results, may proceed to close the deal, renegotiate the sale price, request repairs or terminate the sale contract.
A home inspection is not the same as a home appraisal, which is required and assigned by the lender to determine the value of the property for which the buyer is seeking a mortgage.
When evaluating real estate for investment purposes, home inspection is one of several variables to consider.
Before buying a house, you need to inspect it. Not being tested can be a risky venture.
The Affordable Home Refinancing Program (HARP) was a program offered by the Federal Housing Finance Agency to homeowners who own homes that cost less than their outstanding loan balance.
A lease option is an agreement that gives the lessee the right to choose whether to purchase the leased property during or at the end of the lease period.
2/28 adjustable rate mortgages (ARM) offer an initial fixed rate for two years, after which the interest rate is adjusted semi-annually for another 28 years.
A 5/6 Adjustable Rate Hybrid Mortgage (ARM 5/6 Hybrid) is a fixed rate mortgage for the first five years and then adjusted every six months thereafter.
An 80-10-10 mortgage consists of two mortgages: the first is a fixed-rate loan of 80% of the value of the home; the second - 10% as a loan secured by equity capital; and the remaining 10% as a down payment in cash.
Illegal possession is a legal process whereby a person who is not the owner of a piece of land acquires title and ownership of that land after a certain period of time.
A movable property loan is secured by a movable item or movable property that is used to purchase the loan. The creditor has the right of ownership of the movable property.