How To Consolidate Your Debts With A Remortgage

If you have begun to feel financial problems caused by debt, and you own a home, then you may have a good way to eliminate those debt problems. A remortgage could be just what you need to provide a way out and reduce your monthly bills at the same time. Here is how you can go about getting a remortgage for debt consolidation.

Before you think about remortgaging, though, you need to think about whether or not you plan on living there for at least seven more years. Remortgaging has fees and costs just like your first mortgage, and will take up to three years to pay off these costs.

Check Your Credit Rating

You should know that the best time to think about a remortgage is before your debts start being reflected on your credit score. You can get a free credit report from the three major credit bureaus each year. Once you get it, you can look it over and make sure that all statements it contains are accurate and up to date. Be sure to correct all incorrect information through the credit bureau before you apply for a remortgage. This is because your new interest rate will largely be based on your credit score.

Watch The Interest Rates

This will help you to know when the right time comes to remortgage. You want to wait until you can get at least 1% lower than your present interest rate. If it is close, but you feel the market may not go any lower, you may be able to buy points for an even lower rate.

Remortgage For A Shorter Term if Possible

Even if you are doing this for the purpose of debt consolidation, you will want to try and keep the length of the remortgage as short as possible. The shorter the time period, the less you will need to pay in the long run. This will reduce your overall indebtedness through the years and allow you to be mortgage free quicker. In fact, if you can, try to reduce it about 5 years less than the remaining time on your present mortgage. This will enable you to save possibly tens of thousands of dollars in interest.

Get Access To Your Equity

If you have lived in your house for a number of years, then you have built up some equity. This can be obtained when you remortgage. Although you could get much more, you should not remortgage for more than 80% of the value of your house, or you will be required to get Private Mortgage Insurance (PMI).

You can do what you want with your equity. This is the money that you take and consolidate your bills with. It has much lower interest than a personal loan, which is why it is a good alternative. It also has a much lower interest rate than a credit card, too, and gives you a long time to pay it back.

Put Some Equity Back Into Your House

It is also a good idea to take some of your equity and add it back into your home by remodeling or making an addition. This increases the equity in your home even more - and it is tax deductible, too.

Before you sign on any remortgage deal, be sure to get several quotes. Then look them over carefully, and choose the best one. Make sure you understand any terms, and avoid remortgages with early payoff penalties.

Malaga Real Estate Is Booming

Recently property in Malaga has been feeling an increase in popularity dramatically. This is due in part to the cheap flights that many people can get from all over Europe into the Alicante airport to allow people to have a second home to visit and maintain at a decent price.

The Real Estate Market In Spain

Many people from all over Northern Europe are buying property in Malaga. Some of them are using it as a retirement home others are using it as investment property. In any case this demand has driven up the need for development and availability as well as prices.

Some of the people that are buying the property will reside there for half of the year and then use or rent it out for the other half of the year. With so many attractions and things to partake in close to the Costa Blanca it is easy to understand why it has become such a great vacation spot as well as retirement area for so many.

Many of the residents are not originally Spanish citizens as they have permanently relocated here to enjoy all that there is to offer and be able to relax in this resort town.

Many of the apartment buildings are located on the coast and are easily accessible where as most of the homes are located more on the inland. This gives the buyer of these areas the benefit of having more property. But this also means that there is more to maintain, so consider what it is that you want to do before you make a decision.

Locating Malaga Real Estate

You will have essentially two options when you are considering the real estate in Malaga in Costa del Sol. You can either live on the inland and enjoy the vast countryside from a villa with your fruit trees, or you can live in the heart of the city and enjoy all of the hustle and bustle while living in an apartment. The choice is really yours so you may want to make many trips and tour different locations before you go and buy a home in Malaga so you know what you are getting and what you are getting into.

When you have finally decided on a property that you like, it is in your best interest to hire an attorney to help you with your purchase. It is recommended to use a bilingual attorney as they will be able to understand both sides and can help you in all of the real estate laws that you may come into.

SALE -30% Off Property? - UK Property Investment

When is a sale not a sale…?

It was last Saturday that I strode purposefully down the aisles of shirts, jackets, slacks (or if you are young and trendy trousers). Desperately searching for a shirt for a party that night. Almost instinctively I was drawn to the big red signs saying 10% off, or 20%, or even better 50% off.

Sensing a bargain I began looking at the 50% off rail. As I started to rummage, I began to think about the sales promotions of old. The days when furniture retailers used to advertise the same closing down sale, week in and week out; you know the one. The closing down sale had by general consensus being going on since well before the start of the Boer War and showed no sign of ending. It was at that point that a thought flashed into my head. I began to wonder whether this whole 'sale business' was just a mirage. Could it be that the cunning retailers could pretend to reduce their prices by artificially inflating them first. Of course not!

It was at that point that I vaguely recalled a Radio 4 show that had talked about just this issue. Some consumer expert had twittered on about the Trades Description Act (TDA) having made it illegal for any item to be marked as reduced unless it had been on sale at a higher price for 28 days in the proceeding six months. It's amazing what rubbish you remember. Having got bored of the array of stripes, flowery patterns and generally dull bargain shirts in front of me; my mind started to wonder onto the far more engaging subject of property investment.

Despite the existence of the TDA a whole industry has developed in the buy-to-let market that appears to inflate the price of property and then sell it at a 'discount'. This practice where developers often using specialist broker companies target investors with claims of 10,15 and 20% discounts. Excuse me for being thick but if that is not effectively a sale then what is it?

Unfortunately, many of the investors that are drawn to these schemes are 'first timers' and no nothing about property investment. They are often under the misapprehension that property ownership is their one-way ticket to an instant fortune. The problem with these developments is that no one in their right mind would buy them at the full price, apart from maybe a 'half cut' Russian billionaire that had got his decimal place in the wrong place in working out the cost in Rubles.

Even with the discount these properties, which are predominately in urban locations and aimed at investors are still ludicrously expensive when compared to any of the surrounding second hand housing stock.

How do these syndicates work? The essence of the arrangement is the relationship between the developer and the broking or property sourcing company. The broker markets the developers' property, often prior to completion or even 'off plan' to their database of existing or potential investors. Upon the successful completion of a sale, the broker will take a commission. For the developer there is a huge advantage in that they are able to sell properties to investors at prices far higher than they could have achieved if they just relied on the local owner occupation market. Concerns over prices and valuations have being taken on board by some of the largest buy-to-let lenders in the market. Many have tightened their lending policy and lend only 70-75% on new property (less than 12 months old) where 12 months ago they would have been happy to lend up to their maximum loan to value of 85%.

After breaking for a coffee I couldn't muster the energy to continue searching for that elusive bargain, despite the reductions all the shirts I liked seemed terribly expensive. So I eventually went home and guess what? At the back of the wardrobe I found the perfect shirt for the party. Admittedly it looked a bit unloved, but with a wash and iron it came up as good as new.

I reckon the smart investor has the same strategy with buying property as I have with purchasing shirts. What do you think? Go to Your Forum to post your views on 'the best investments - new or old' along with any experiences you have had buying new property through syndicates. I will be returning to the subject of investing in new developments and how and why it can go terribly wrong as well as keeping you right up to date with my shirt collection!

Commercial Real Estate - Big Profits

Real estate has always been known as the safest of investments.

In fact, real estate investment completed after proper research into and evaluation of the property (to determine actual and future value), can lead to tremendous profit.
This is one reason many people choose real estate investment as their full time job.

Discussions about real estate tend to focus on residential real estate; commercial real estate, except to seasoned investors, typically seems to take a back seat.
However, commercial real estate is also a great option for investing in real estate.

Commercial real estate includes a large variety of property types.
To a majority of people, commercial real estate is only office complexes or factories or industrial units.
However, that is not all of commercial real estate. There is far more to commercial real estate.
Strip malls, health care centers, retail units and warehouse are all good examples of commercial real estate as is vacant land.
Even residential properties like apartments (or any property that consists of more than four residential units) are considered commercial real estate. In fact, such commercial real estate is very much in demand.

So, is commercial real estate really profitable?
Absolutely, in fact if it were not profitable I would not be writing about commercial real estate at all!!
However, with commercial real estate recognizing the opportunity is a bit more difficult when compared to residential real estate.
But commercial real estate profits can be huge (in fact, much bigger than you might realize from a residential real estate transaction of the same size).

There are many reasons to delve into commercial real estate investment.
For example you might purchase to resell after a certain appreciation level has occurred or to generate a substantial income by leasing the property out to retailers or other business types or both.

In fact, commercial real estate development is treated as a preliminary
indicator of the impending growth of the residential real estate market.
Therefore, once you recognize the probability of significant commercial growth within a region (whatever the reason i.e. municipal tax concessions), you should begin to evaluate the potential for appreciation in commercial real estate prices and implement your investment strategy quickly.

Regarding commercial real estate investment strategies it is important that you identify and set investment goals (i.e. immediate income through rental vs later investment income through resale) and that you know what you can afford and how you will effect the purchase.

It would be wise to determine your goals then meet with your banker (or financier(s)) prior to viewing and selecting your commercial real estate.

Also remain open minded and understand that should the right (perfect)
opportunity present itself, your investment strategy might need to be revisited and altered, sometimes considerably.
For example: If you find that commercial real estate, (i.e. land) is available in big chunks which are too expensive for you to buy alone but represents tremendous opportunity, you could look at forming a small investor group (i.e. with friends or family) and buy it together (then split the profits later).

Or in another case (i.e. when a retail boom is expected in a region), though your commercial real estate investment strategy was devised around purchasing vacant land, you might find it more profitable to buy a property such as a strip mall or small plaza that you can lease to retailers or a property that you can convert into a warehouse for the purpose of renting to small businesses.

So in a nutshell, commercial real estate presents a veritable plethora of
investing opportunities, you just need to recognize them and go for it.

About the Author:
Dave Jarvis is a licensed Real Estate Broker in Florida and is Broker and Owner of Realty Concepts, Inc. a Southwest Florida Real Estate Corporation.
If you are interested in Southwest Florida Properties see his website at http://www.rciflorida.com

For additional Real Estate information go to: http://www.realestateseekerusa.com
For Real Estate Financing information see : http://www.mortgageseekerusa.com

Home Buying 101 - How Much Earnest Money Do I Need?

Every home buyer loves the process of visiting homes and finding that perfect place to call home. Sitting down and writing the offer is not always as much fun! For many people, the process of buying a home is something they go through only once or twice in a lifetime. New terms and questions come are the norm as the purchase agreement is prepared. As a Realtor in the northeast Twin Cities metro, whether I am working with first time buyers, move-up buyers or empty-nesters, one question always stops the process for a moment of discussion. How much earnest money are you prepared to offer?

The amount of the earnest money varies with each purchase agreement. A buyer must first understand the purpose of the earnest money to determine the right amount to include with the offer.

Earnest money is the funds that a buyer puts down to demonstrate to the seller their seriousness about buying a home. It should be an amount sufficient enough to indicate to the seller that the buyer will not walk away from the deal without good reason. In Minnesota this is traditionally 1% of the purchase price but it can be up more. A lower amount can also be acceptable with some offers. However it is important to be realistic.

A few years back, a potential buyer wanted to put down $100 earnest money on a $300,000 home I had listed. The seller was not impressed and felt it was an unreasonable amount as the buyer could easily walk away from the deal with only $100 at risk.

Generally the earnest money funds are in the form of a check. That money is deposited into the listing broker's trust fund or escrow account. In Minnesota, the funds must be deposited within 3 days of an offer having been accepted in writing. Yes, this does mean that the check will be cashed in 3 days or less!

If the offer is accepted, the earnest money will be applied to the down payment and/or the closing fees when the closing takes place. If your offer is not accepted the check is not cashed and the money will come back to you. However, if the offer is accepted and the check cashed and then for some reason all contingencies are not met or other situation arises where the sale does not proceed, the buyer does not automatically receive a refund of the earnest money. Nor, does the seller automatically keep the down payment. Buyer and seller must reach an agreement for the cancellation of the agreement and disbursement of the funds.

Commercial Real Estate- Encouraging Business Professionals

For smooth running or expanding the business you might have planned to buy a property for commercial purpose. But the deficiency of capitals for investments is creating obstacles from meeting such ends. In such circumstances, commercial real estate is the only loan scheme which will provide an external finance with which you can to realize the dreams.

A business professional can borrow commercial real estate loans for diverse purposes. Entrepreneurs can use the fund for diverse business activities, agricultural activities, buying motels, hotels and shopping complex etc.

Commercial real estate is secured form of loan policy. This feature defines that borrowers should place any collateral which has monetary value. The use of collateral ascertains lenders the safe return of the loaned amount. Because of the secured trait, entrepreneurs enjoy the facility to borrow more loan with which they can easily meet their requirements. If the borrowers provide collateral carrying higher equity, then they can borrow more amount. Added to this, commercial real estate provides wider and flexible repayment durations. Furthermore, commercial real estate comes with cheap and low rate of interest which adds another plus remark to its feature.

Another attractive and daunting feature of commercial real estate is that it offers its proposals irrespective of ones bad credit history. Both good and bad credit history holders can obtain the amount and supervise their expenses. Commercial real estate also assists with rational policies the bad creditors with which they can recover their poor or grave credit score.

Entrepreneurs and business persons can approve the commercial real estate within seconds if they use the online application procedure available. This electronic application device is faster and reliable. Moreover, it saves time and effort of the users and also intelligible to all common minds. Every lender who allocates funds of commercial real estate provides the online application process free of cost.

Commercial real estate encourages the upcoming business professionals to realize their dreams and expand their commercial horizons to their expectations.

Stop Pushing The American Dream - Some "Homeowners" Are Destroying Home Ownership!

To own your own home is the American Dream. No landlords…no rent payments…no worthless rent receipts.

Sounds awesome, doesn't it? You can splash your own paint colors throughout the house and pound as many nail holes in the walls as you want.

It's your home…nobody can tell you what to do with your home.

Well, not quite. Ever heard of CCRs (Conditions, Covenants & Restrictions)…you agreed to abide by the "laws" of the community by signing on the dotted line.

Unfortunately, the American Dream implies responsibility...to oneself and to one's neighbors. Before buying a house, take a big breath and think: Are you willing to take care of your house? Are you willing to cut and water the grass? ...pull weeds? ...trim the hedge? ...change the AC filter?

You see, home ownership is not for everyone. That's right. Some people don't deserve to be homeowners. Before you choose to buy your own home, take this simple and short quiz:

1. Are you prepared to care for your home's grass and plant material? In Florida, I cannot even count the number of times I've helped buyers purchase their dream home, complete with manicured and healthy landscaping when they receive the keys. A few months later, the grass and plants are dead. The neighbors are upset and the Homeowner's Association (HOA) is sending violation letters.

In most deed-restricted communities, the property management company hired by the HOA will remind you with violation letters of your responsibilities. Water the grass…replace dead plants and grass…pull the weeds…trim the shrubs.

Landscaping requires regular maintenance. You can do it yourself or you can outsource it.

Yes, you will have to water the new grass and plants…you will have to treat the grass for pests (in Florida, chinch bugs and ants)…and you will have to fertilize. And if you allow crab grass and wild Bermuda to invade your green carpet, you will have to cut out the entire area and lay down new sod.

Both are invasive and will destroy a yard almost as quickly as voracious chinch bugs. To replace damaged grass, expect to spend ~$2,500 on grass and installation and another ~$600.00 on water for an "average" yard. No exaggeration. In Sarasota, Florida, for instance, the local water utility doubles the water bill for watering grass.

Neglecting your landscaping violates the Covenants, Conditions & Restrictions (CCRs) and alienates your neighbors whose property value suffers as a result of your negligence or ignorance.

2. Are you prepared to change the AC filter? If I had a dollar for every AC filter not regularly changed, I'd retire welthy on this money alone. A dirty AC filter increases the electric bill, shortens the life of the AC system & exposes your children to allergens.

Have you visited Florida in the summer? It's hot and humid, making AC absolutely essential. Don't neglect your AC filter…replace it with the right size. When I walk into a house with dirt surrounding the AC vents, I instantly detect neglect.

Just wait, neglect will cause your AC system to fail prematurely while enduring the sweltering heat and paying the $3,000-$6,000 replacement cost. If you're lucky, you'll get off paying $400.00 to have the evaporator coil cleaned by an AC contractor. Neglect is expensive.

3. Does your car leak oil? Don't let the oil drip onto your driveway. It's nearly impossible to remove even fresh oil from concrete. Do not attempt to remove oil spills by power washing. Doesn't work. Power washing chews up concrete as you drive the oil deeper into the concrete, only to have it seep back in a day or two.

With fresh oil stains, use dish detergent in warm water. Lightly scrub and rinse. Face it, the damage is done, marking you as just another careless homeowner or renter. Your neighbors will notice…any future prospective buyers will notice.

The American Dream comes with implicit responsibilities…you must be accountable to your neighbors if not to yourself. You must be willing to maintain the outside of your house.

What was careless as a renter is civil as a homeowner. Disregard your responsibilities as a home "owner" and you may face a lien on your property, while facing the wrath of your neighbors.

Think carefully before you pursue the American Dream. Are you ready to accept the responsibility of home ownership?

Employment On The Up In France

People who are thinking of moving to France to start a new life may be pleased to hear that last month online employment opportunities across France surged.

According to the latest figures from the Monster Price Index, the number of points obtained by the country has increased by nine, suggesting good things to come for those looking to work.

Rhone Alpes sees biggest job demand

According to the guide, every region in French saw an increase in online job availability last month, with the Rhone Alpes seeing the largest increase in demand.

This was followed closely by Ile de France, where the capital Paris is based.

With the election of President Sarkozy, unemployment should fall further. Of course, in the past the French Unions have resisted such reforms with great vigour. One can expect that they will take to the streets, blockade the channel ports and close the Metro and railways. Perhaps Sarkozy is prepared to take strong action but it could be a summer of discontent.

More job opportunities good news for investors

The news is not only good for those who are looking to start a new life in France but also bodes well for investors who are thinking of buying a French property and selling it on.

An increase in the number of jobs available is likely to make people richer and therefore in a better position to buy up property.

The hospitality and tourism sectors saw the largest growth increase followed by the production, manufacturing, maintenance and repair industries.

Only skilled agricultural and fishery workers saw a decline in terms of online job activity.

Buying a House - Old or New?

You feel the time has come for you to buy a house.

Before you start looking around for a suitable house to buy, you will have decided on your exact needs in terms of space and amenities, will have worked out your budget and at least tentatively tied up loans/mortgages, etc. All these are issues of hard facts and can be tackled in a pretty straight forward manner.

But there is one question which is emotional and needs a little soul searching. Do you want to buy - an old house or a new house?

Let us draw a balance sheet of the pros and the cons of the old house and the new houses.

Modern new houses are generally designed to use space more efficiently and provide more amenities such as bathrooms, kitchen space, etc. as compared to the old houses. They are designed for technology-rich modern life and have adequate provision for modern gadgets like telephones, computers, etc throughout the house. Modern architecture and equipments such as heating/ventilation, etc are more energy efficient, resulting in lower energy bills. Since they are generally a part of a large housing complex, they will have provision of swimming pools, golf course, clubs, etc. Being new, it is obvious that they will require very little repair and maintenance expenditure for a few years. In any event, new houses are generally covered by a one year warranty.

New houses are built in less developed areas and being a part of a housing complex will not have any "character"; all houses will be practically identical. In such a housing complex you cannot be very certain of the type of neighborhood you will have. There will be restrictions on renovations and modifications you may wish to make. New houses are generally costlier due to escalating land costs and labor costs. Even though the repair and maintenance expenses will be less, you may have to pay common house owners association charges.

Old houses (we are not talking of "ancient" houses) are generally situated in well developed neighborhoods with schools, banks, marketplaces, entertainment centers in the vicinity. The neighborhood is already being lived in. Old houses, about 15 year old, were generally what we can term as "single family houses", they were not a part of large group housing or housing complex and so had a certain character of their own. Being old, lived-in houses, they come with developed landscaping. Use of a large amount of woodwork and high ceilings, etc lent a certain ambience of leisure and luxury to the old houses. Old houses are generally situated on prime property and may have good resale value. Old houses are comparatively less costly; also their prices are generally negotiable.

But after all old houses are, well, old! Old houses were not designed for the modern life and may not have the provision for telephones, computers, etc. that modern homes use. The buildings as well as the equipment such as heating/ventilating equipment, etc. may not be as energy efficient as in a modern house. The regular repair and renovation of an old house can be a burden unless attended to before purchase. Some people may feel comfortable with the lived-in character of an old house; others may shun away from the personality of the old owner that the old house may show.

There are non-tangible factors such as character, modernity, etc involved in this comparison and ultimately it is your personal preferences that will decide whether you opt for an old house or a brand new house.

Let's Protect Both Yourself and Your Home

Most people frequently travel to popular vacation spots, or to visit friends, while others spend part of the year in warmer climates. Almost everyone is likely to be away from their home several days or weeks at a time for business or pleasure.

Over the past 25 years of owning homes and apartments, the owner of a home watch company, as well as managing and taking care of other peoples' property for them. I have experienced and learned a lot. Here are a few common truths I've learned about being away from your home for a while.

Truth #1: While it's always good to return home from a vacation or seasonal residence, occasionally upon returning home, some people find their Wisconsin residence in a condition other than the way they were left due to mechanical problems or, in some situations even burglary or vandalism.

Truth #2: Homes that are left unattended for extended periods of time seem to have greater frequency of problems, and the problems that arise are sometimes made worse because they are not dealt with before small problems have a chance to grow.

In talking to people about my business, the most common thing I hear is that while people are away, they are planning to have friends, relatives or neighbors check on their property. While neighbors and friends often agree to check on the properties, they don't always have the ability to recognize the early signs of problems or the time to do an extensive inspection while you're away.

Remember, they typically have plenty to do during their day already. If they make it through the day or week with no unplanned interruptions to their schedule, and they remember, this is when they are able to check on your property. With all good intentions they will walk in the door feel the temperature, and if it feels warmer than the outside they take a cursory trip around the main living areas, then turn around and walk back out to finish their day or week.

Truth #3: There are a host of potential problems that can easily go un- noticed. Examples of this include the operation of your refrigerator, plumbing failures, tripped circuit breakers, pest invasion, roof leaks, vandalism, etc. When it's your own home, you take notice of little things that don't seem quite right even if it's subconscious. A friend or neighbor often doesn't notice those things.

Aside from having your home monitored by a professional, there are many things you could do yourself to make your return home more enjoyable. It's interesting to note that when people buy a boat or a camper, or even a collector car and are ready to put them away for the season people automatically think of protecting them by winterizing properly. But when it comes to protecting one of their biggest investments, they sometimes don't think twice. They turn the heat down and lock the door behind them as they walk out the door, without taking the measures to make sure that it will be in the condition they nevertheless expect upon their return.

I have put together just a few suggestions for your consideration. Let me preface this however by maintaining that I am convinced that these steps should compliment, rather than take the place of a professional home watch company. I'll share more about that later. Here are some common sense suggestions that often get over looked.

Let's start with your kitchen.


 Clean each appliance thoroughly with sudsy water, rinse and dry. Leave appliances unplugged while you are gone to protect from electrical current surges.


 Give away or toss opened bottles and jars of salad dressings, condiments, etc., in the refrigerator. It will cost less to replace them if you are gone 2 or 3 months than to run your refrigerator. Clean the refrigerator interior with a solution of 1 tablespoon baking soda to 1 quart of water. This will neutralize food soils and prevent odors. The refrigerator and freezer doors should be left ajar to prevent mold.


 Flour, sugars and salt should be stored in tightly sealed containers. Dispose of cereals, crackers and pastas to avoid unwanted pests.


 Remove any food particles from the filter if one is present in the bottom of the dishwasher. Then run the dishwasher through a short cycle. A few minutes into the cycle, turn off the dishwasher, open the door and clean out around the door gasket and under the bottom of the door to remove any dirt that might create mold in these areas. Restart your dishwasher finishing the cycle. After the cycle is finished leave the door ajar, this will help with air flow and reduce the possibility for mold forming. It will also release the pressure on the door seal making it last longer.


 Clean the garbage disposal in your sink by running a batch of ice cubes from the freezer. This will loosen built up food particles. Also run a solution of baking soda and water through the disposal and leave the stopper in place to prevent water from the trap beneath the disposal from evaporating. Make sure all drain stoppers are closed.

Let's move on to the bathrooms and laundry room.


 Clean all surfaces and fixtures. Cover toilet and tank top with a plastic wrap. Water from toilets can evaporate. If all water evaporates, sewer gas can back up into the home. Turn off the water supply to the clothing washer to eliminate pressure damage to the hoses. Clean the lint filter in the dryer.

There are a few other important items you should consider.


 Turn the water heater off if you will be gone for a month or more. For shorter absences, turn the thermostat to its lowest setting. Vacuum upholstered furniture (even crevice areas) well. If there are spots and stains, remove or clean before closing the home. Use commercial upholstery cleaner, and follow directions carefully.


 You may want to consider vacuuming mattresses thoroughly and covering lightly with a sheet to allow proper air flow.


 Allow space between garments for circulation of air. Do not wrap garments or other items tightly in plastic. This may increase mildew and other problems. Metal hangers, even when covered with paper, can rust and stain clothing. Get rid of them! Plastic or wood hangers are a must. Leave closet doors and dresser drawers open to allow for air circulation.


 Turn off water at the meter and back drain if possible. This will help prevent flooding if a pipe should break.

Now for one of the biggest mistakes people make is not leaving their furnace in good condition. To assure the continued effective operation of your furnace and air conditioner, and to prevent excessive energy use, follow these suggestions.


 You should change your filters or if you have washable filters, wash them. Before you leave is a very good time for a furnace/air conditioner check-up by a professional. A professional check-up will clean the blower wheel and coil, check the temperature drop, adjust tension on belts, check the thermostat, inspect wiring and connections, and check the operation of motors.

Another often over looked area is the exterior of your house.


 The grading of the ground should move rain water away from the house.


 Landscaping, around the foundation of a house should be placed far enough away from the home (two feet or more) to permit air to flow freely, and prevent vandals from a place to hide from sight.


 Remove leaves and debris from gutters and downspouts. Check gutters and downspouts for damage. Observe during a heavy rain or run a water hose down them to see if water is flowing freely.


 Look for gaps between windows or doors and walls, using caulking to fill in were needed. Replace broken or cracked putty as well as weather-stripping that is loose or damaged.

Whether you will be away from your home for a short or long period, it pays to plan for protection of your home and possessions from burglars or intruders. The best defense is prevention. Both amateur and professional burglars are likely to bypass homes that appear to have active residents. Your home should have a lived-in look.


 Mail, newspapers and other deliveries should be stopped or promptly picked up by a reliable service.


 A car parked in the drive or carport discourages burglars.


 Lights within a home should be placed on timers to simulate movement within the home suggesting normal activities.


 Window treatments should not make the house look closed-up, but should not permit easy viewing of valuables within the home such as electronic equipment and cameras.

If, in spite of your efforts to make your home look lived-in, a burglar decides to try to break in, don't make it easy. All doors should have secure locks. Sliding glass doors should have a bolt-type lock to prevent its being lifted out of its track, plus a jamming bar in the inside track. Burglars are eager to take items that have a ready market value. The value of items drops when they have some kind of identification, and can be traced to the original owner.


 Valuables such as jewelry, watches and other items should not be left behind when you leave. Place them in a safety deposit box. Cameras, electronics, silver and appliances should have your social security number, or name engraved on the bottom.


 Most homeowner insurance policies provide some protection against burglary. Don't take your insurance for granted. Check to see if theft protection is provided and if your valuables will be adequately covered.


 You may want to check with your insurance company to see if they offer discounts for booking with professional home watch company. Several clients receive such a discount.

If scaring you was my goal, I could give you plenty of examples I have heard from people about the extra hassles they experienced when it could have been avoided. Clearly some problems are going to arise regardless of how much preparation you do or how comprehensive your monitoring service is. A professional, home watch company will be able to help minimize these through early detection or by helping to rectify the problem before your return.

While it might sound cliché, I have to remind you of the old adage that say "an ounce of prevention is worth a pound of cure". At a reasonable cost you can……….

As the owner of Watchdog, I am a firm believer in outsourcing. All professional service companies are (or better be). And the fact is that home monitoring is our core business, while it is really just a chore for everyone else. A professional is always going to be more thorough because it our livelihood. Doing a better job at a competitive rate is what sets us apart from our competition and why I really want to help you avoid some of the problems that other people have had to experience first-hand. I would urge you to consider this option if you have more than one property to maintain or spend significant time away from your home.

A professional home watch company, like WatchDOG LLC uses a lengthy checklist to inspect homes on a regular basis. WatchDOG has over 25 years of property management experience. We have a full understanding of what is needed to minimize or eliminate your troubles while you're away. If you would need help with any or all of these needs please feel free to contact us at WatchDOG LLC. Every client is kept strictly confidential! You can visit us on line at www.watchdoghomewatch.com to see how we can further assist you. We are always keeping a close eye on your property.

Above all, leave the worrying to us and enjoy a relaxing vacation knowing your home is well protected.

Overseas Investment Property - How to Make Big Gains with Low Risk

If you want to make money from overseas investment property you need to keep one major factor in mind when doing so – most overseas investors don't and get burned.

If however you can learn to avoid this common mistake, then you can make huge gains – overseas property can be cheap and have huge profit potential for the savvy investor if they play it safe.

The risk of emerging markets

Each week it seems there is a new property investment destination to look at that could give you huge gains.

The problem here is with the word "could" - most new destinations simply don't emerge.

Sure, you hear about the people who became millionaires by being in first, but their small minority.

If you want to be a pioneer go ahead, you could get rich but remember most of the pioneers got arrows!

Buy an established trend.

You will hear this phrase a lot in the stock market and its true, a trend in motion is more likely to continue than reverse.

It's the same in buying overseas investment property.

Once a market has taken off, it will continue for years or decades, as most people buying or living overseas want to be surrounded by the comforts of home and people who they can relate to.

When the market develops it becomes more popular, as the infrastructure expands to provide what is in effect a home from home.

Central America

Consider the favourite country for US investors Costa Rica.

The growth that has been seen in Costa Rica in the last 15 years has been stunning.

For example, a $30,000 property bought just 15 years ago near the popular town of Jaco is worth as much as $800,000 today.

In fact property prices have increased by 300% in the last 10 years.

Costa Rica remains popular as it has the best infrastructure and home comforts for Americans and cheap affordable beach front property at up to 80% less than in the US and its only a short flight away, so the odds of the trend continuing are high.

30% + gains or more are still be made by investors with low downside risk.

Now you can get the property cheaper in say Nicaragua, but it's poorer, lacks the infrastructure and involves more risk.

If you want to be surrounded by street children and poverty it's great – but Costa Rica is the safer bet.

Its property boom has been running longer, the trend is up and infrastructure makes Americans and other foreign nationals feel comfortable.

With beachfront property still great value, the baby boomer generation retiring and the opportunity to make a rental income as well as great capital gains and you have the recipe for further great gains in the years ahead.

The lesson in overseas property investment is

Trade established trends you can make great gains with low risk.

Everyone wants to be in first and make a killing, but more often than not this leads to financial disaster.

In most cases tomorrow's property investment "hot spot" soon becomes yesterdays and is forgotten by everyone, except those who have lost money.

If you want big gains trade the trend and get bigger profits with low risk.

Things You Should Know Before Buying A Home

When buying a home there are some things you should know. One thing you should know when buying a home is the prices of the homes in the area. By doing this it would help you to know if you are getting a good deal or not. One other thing when it comes to knowing the prices of the homes in the area is it can save you from over paying for a house. The last thing you want is to over pay for a house. If you over pay and you can't afford the mortgage you can end up losing the house and damaging your credit.

Another thing you should know when buying a home is what kind of mortgage to get. It is recommended that you get a fix rate mortgage. With a fix rate mortgage the monthly payments stay the same for the life of the loan. One other thing when it comes to mortgages is it's not recommended to get any mortgages where the interest rate changes over the life of the loan. The reason for this is the interest rates can move higher.

One last thing you should know before buying a home is what in the house needs to be fix and what other things come with the purchase of the home. By knowing this you will know exactly what you're paying for. If the seller say they will throw in some other things with the sale of the home, make sure you get it in writing. Buying a house may not always be a simple thing but if you use the tips you read here it can become just a bit easier.

Buyer Agency Agreement - Why Is It Important To Me?

We've all heard the term "Buyer's Agent" or "Exclusive Buyer's Agent".....but what do these terms mean? What do they do? How are they paid? Aren't they just another Realtor?

Not long ago, the real estate industry operated completely different than it does today! The rule, for many years, was that the seller paid the commission...so therefore, all agents involved in the transaction worked for that seller. It was a "buyer beware" situation. This is not true anymore.

Lawmakers have been trying for years to come up with a way that agents could represent the buyer...legally! As of right now (at least in the State of Tennessee), everyone involved in a real estate transaction must be made aware of who is representing who...and it must be in writing. This document is a legal part of every real estate contract for purchase.

When a listing agent takes a "listing", they enter into a legal and binding contract with the seller to represent them in the sale of their home. The seller is actually signing an agreement with the real estate firm that the agent represents. Therefore, every other agent that works with that real estate firm legally represent that seller.

The problem arises when the listing agent (or any other agent affiliated with the real estate firm) shows the property. How can they represent the buyer when they are already representing the seller? The law provides the solution: The managing broker can "designate" one of the firm's agents to function as a buyers agent to work with that particular buyer. But guess what? That agent is still in the same office...talking over the same water cooler...and many times has access to the files in the office. They do the best they can, but agents are still human...and mistakes occur.

The law goes one step further. In the event that the "listing agent" actually brings the buyer and writes the contract, it really becomes a sad case. That agent must revert to a "facilitator" status. This means that they can no longer represent either side. At this point, they can only take care of the paperwork involved in the transaction. This agent, the buyer and the seller must sign a document that they understand this new arrangement. I've seen this done for years, and I don't believe that most buyers and/or sellers understand that they no longer have any representation.

Do you see how this quickly becomes a "conflict of interest"?

So, when agents advertise that they are "buyer's agents", be sure to check and see if the company they work for takes any listings. True Exclusive Buyer's Agencies do not take any listings. They work exclusively for buyers without this conflict of interest.

What are the Benefits of using an Exclusive Buyer's Agent? First and foremost, is the absence of this conflict of interest. There's no "bonus" for selling company listings. There's no motivation to push any particular property. They are free to focus on your real estate needs.

They usually function as "consultants"...guiding and educating you on the process of your new home purchase. They can be your eyes, ears and legs, especially if you are relocating from another town. Most exclusive buyers agents will preview homes for you, look much deeper into the background of the home as well as tell you the negative points about the home (as well as the good points).

How are they paid? Buyer's Agents are usually paid from the transaction. They normally split the commission that the seller and listing agent have already agreed upon. The listing firm simply pays the buyer's agent at closing. If the buyer decides to remove even this tie to the seller, they can choose to work out a compensation agreement directly with the buyer's agent. The law requires that a buyer's agent agreement be in writing, and this is one of the issued discussed at that time.

There are many wonderful Realtors...that do a really good job. But, the conflict of interest is something that is there anytime they show a listing that belongs to their firm. Legally, there are ways around this problem...but you should be aware that the problem exists. And decide if you want to take that chance...or hire someone to represent you - 100%.

Buying An Investment Property? Then Buy A Cheap One!

If you've decided to purchase an investing property, you will really get your investing off to a flying start if you can happen a cheap one. This doesn’t mean value you should purchase any property, just because it haps to be cheap. It intends looking for chances to get a good property, in your target location, that for some reason, is being offered at a cheap terms when compared to similar properties.

Buying at below market terms makes three, great things for your investment:
It betters the rental yield.
It supplies a unrealised, capital net income once you have got got sorted out the property.
It reduces your hazard of losing some of your investing capital, should there be a downswing in the market.

In my experience, it is perfectly possible to purchase cheaply, once you have a clear thought of what you're looking for. Seek out a 10-15% price reduction to normal market value. Opportunities for deals like this look all the time, but you've got to look for them. Don’t just walk into your local estate agent, checkbook open, like a lamb to the slaughter, ready to purchase the first property you're shown!

I've establish three chief chances for bargains:
Repossessions. These are places where the borrower have fallen so far behind with the mortgage repayments, that the lender have evicted them and taken ownership of the property. The lender then sells the property on the unfastened market, usually through a selected grouping of estate agents or at auction.

From the point of position of the investor, repossessions are particularly good places to look for, for three reasons. Firstly, repossessions are always vacant and sometimes cosmetically damaged. As a result, they usually sell at a price reduction to their true worth. Secondly, the marketer is a financial establishment and is improbable to be indecisive and generally messiness about in the manner many private sellers do. Thirdly, being vacant, assists the transaction to travel through quickly.

Properties requiring modernisation. It is surprising how many places have got been neglected for 30 – 40 old age and allowed to fall into varying states of disrepair. This kind of property usually necessitates much more than work than repossessions, to get them back into a good state.

However, modernization can be very worthwhile, providing that the terms reflects the necessary work.

Sometimes Sellers just desire a quick deal. This tin be for all kinds of reasons. For example, when a house is being sold as portion of a divorcement settlement, when the marketer is moving overseas or when the sale is being handled by canvassers as portion of probate will proceedings.

Whatever the reason, rushed sales often intend lower terms and you can take advantage of this.

5 Steps to Successful Property Investment

When looking to put in property it’s always of import to take a structured attack to guarantee you get only what you are looking for. Over the old age I’ve developed the following construction and I’ll always lodge to it so that I cognize I have got done all the homework necessary to do a sound investing and reduce any possible hazard to a degree I’m comfy with.

Step 1 - Research Research Research

This is possibly the most of import facet of any investing decision. When I speak about 'researching' a possible investment, what I intend is to make all the necessary homework to happen out if the investing is right for you and if it will supply the tax return you're looking for.

Sometimes it is alluring to overlook research and maybe follow a tip from a friend on a possible investment. Many people also don't do research because they don't cognize where to happen the required information and so they may make a unsighted investment, hoping on good returns. Even worse, they may set off making the determination (to put or not to invest) and remain stuck in cunctation while the plus starts to demo strong growth.

So what needs to be researched before investing in property?

Location - such as things as the population, chief industry, chief employers, future investment in infrastructure, tourism, local universities.

Property prices - average, median, recent sales, possible rental returns, former and predicted growth.

Tax and ownership laws – country and state laws, occupier/investor tax rates.

There may be more than countries you need to research depending on your state of affairs but the chief aim here is to carry out the research to a degree you are comfy with. You can never do too much research.

Thorough research will give you peace of head to make confident investing decisions.

Whatever you are trying to achieve, person have already done it before and the information is out there. It may be in books, newspapers, particular reports, published on the Internet or available from existent estate agents. You can happen the information you need to make a confident investment decision.

Step 2 - Know your Numbers

Note: This measure primarily deals with rental tax tax tax returns and makes not take a property’s annual grasp or depreciation into account.

Before investing in property it’s of import to do the numbers to know

What you can afford to purchase

Purchase and in progress care costs

Potential rental returns

Monthly cash surplus or deficit

Once you cognize all of these figs you can then make up one's mind how much you can afford to pass within your budget, what rental tax return you’re looking for and whether you will derive a monthly cash surplus or if you will need to lend towards its monthly upkeep.

So what are the common numbers to cognize and calculate?

The Purchase Price

Purchasing Costs – points such as as Postage Duty, legal fees, existent estate agents’ commission, legal fees.

Rental Income – If the property is rented to tenants, how much rent can you charge?

Ongoing Costs – Management Fees, mortgage repayments, repairs and maintenance, letting fees, Municipal or Council rates.

Net Return – this is the end consequence once you have got got got accounted for all of the income and outgo and it will demo if you will have a cash surplus or deficit.

The more than places you cipher returns on, the better thought you will have of what is available in the market to lawsuit your requirements. You’ll also protect yourself from any surprise costs. It’s wise to be conservative with your computations and maybe add in a contingency amount.

Please remember, there may be more than costs you need to factor in into your computations according to your situation

Step 3 - Make your Criteria

Before you travel shopping for your investing property it’s of import to cognize exactly what you’re looking for so that you purchase a topographic point that lawsuits your requirements. The best manner to make this is to make a listing of certain criteria that a possible property must meet.

You may take to be stringent on some of the criteria such as as a set bounds for the purchase terms but then you may be a small more than flexible on other criteria like accepting $10 less than the expected weekly rent.

So what would you include in your criteria? Here are a few suggestions:

Town population no lower than 10,000

Expected rent at least 7% of the purchase price

Brick house on land, no more than than than 10 old age old

Initial repairs to cost no more than $1,000.

Whatever criteria you take is up to you but it gives you command over what you purchase and will certainly diminish the clip you pass looking for a property. From carrying out your research and working out the numbers you should happen it easy to make your criteria. Now you can travel and purchase the property that’s right for you.

Step 4 - Property Insurance and Management

Like any investment, we always look to minimise the hazard of loss or damage and it’s no different when it come ups to property. There are a number of ways to make this including taking out a suitable insurance policy and determination the right property manager.

Whether you purchase a property to dwell in or rent, it is potentially at hazard for assorted grounds and so you can see the property against these risks. Insurance policies can screen you for loss in the lawsuit of structural damage, theft, implosion therapy and many other instances.

Landlord insurance policies are also available for extra cover of cases such as as malicious damage, legal fees, loss of rent etc. Sol store around for the policy that’s right for you.

If you are buying a holiday home or a rental property you might see employing the services of a Property Manager. The function of a Property Manager is broad and varied and a good 1 can salvage you a batch of clip and money.

They can happen new tenants, arrange to have got your property cleaned, cod rent, maintain an oculus on your property, wage your measures out of incoming rent and much, much more. Determination the right Property Manager will pay off rather than choosing person who won’t expression after your property the manner you desire them to.

It’s of import to shop around to seek out the best Property Manager and you can make this by asking the right questions. A good Property Manager will pass on regularly with you and be available to turn to any concerns you might have.

Additional measurements to secure your investing include the local vicinity watch, security alarms, window locks and fume alarms.

Step 5 - Trailing your Investment

Once you’ve invested your hard earned cash you’ll desire to cognize how it’s performing and what kind of tax return you’re getting. Again, we’re only going to look at rental tax returns rather than growing as the growing is only speculative.

Every calendar month you should maintain all gross of income and outgo concerning the property. This includes:

Statements from the Property Manager

Bank mortgage statements

Receipts for repairs

Payment gross for Municipality or Council rates

Any correspondence regarding the property

All we are doing here is trailing the income and outgo so we can see what the tax return is. By tracking the figs regularly you can see how your investing is performing and this information can then be filed with your annual tax accounts.

Your accountant will be able to counsel you on what extra records to maintain ensuring you get the best annual deductions.

And that’s the concluding measure to Successful Property Investment. All it takes is one measure at a clip to go familiar with the procedure and although there are many other ways and procedures advocated by many other investors the end consequence is ultimately to go forth you empowered to do the right investing choices.

Harbor Mortgage Hosts Telephone Seminar for Seniors May 24 - Reverse Mortgages Made Understandable

Published on: May 8th, 2007 12:01am by:

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Braintree, MA (OPENPRESS) May 8, 2007 -- Senior homeowners and their families are invited to stay at home, pick up the phone, and dial in to hear a free Educational Telephone Seminar on Reverse Mortgages and Retirement Planning on Thursday May 24 from 11 AM to 12 Noon.

Moderated by Greg Porell, the Editor of the South Shore Senior News and the Neponset Valley Senior News, this telephone seminar will provide objective information about the unique government backed programs that allow seniors (age 62+) to access the equity in their homes. Now seniors and their families can learn about an important financial option without leaving their home, just by listening.

Listen and Learn
Businesses have used telephone seminars for years. IT’S SIMPLE! Participants don’t need to say a word; they just dial in to a specially designated 800 number from the comfort and privacy of their home or office on May 24 at 11 AM and hear:
• How to access the equity in their home.
• Implications for retirement planning.
• Answers to THEIR questions (submit with RSVP).

Seminar speakers will include: Attorney Francis X. Small, Elder Law Attorney, Heaney & Small, LLP, Milford, MA; and George Downey, founder of Harbor Mortgage Solutions, Braintree, MA and former Chairman of the Massachusetts Mortgage Association.

Advance reservations are required. Call 1-800-597-5133 to RSVP and find out how to dial into this informative seminar on May 24th.

Those who dial in to the Reverse Mortgage seminar will learn how a reverse mortgage can help homeowners over the age of 62 cash in on the investment they made in their home without having to sell, move, or take out a home equity loan. Reverse mortgages can help provide a steady source of tax-free income enabling seniors to have the extra cash needed to pay off their bills and stay in their own home.

A recent study conducted by the National Council on Aging found that impaired, older Americans are struggling to live at home at a time when they own more than $2 trillion in untapped housing wealth. Senior homeowners throughout Massachusetts are struggling to make ends meet, yet most are unsure of how to proceed to unlock the equity in their homes.

A reverse mortgage, essentially the opposite of a traditional or “forward” mortgage, can enable seniors to tap into accumulated equity without having to face ongoing payments. Unlike traditional mortgages where borrowers make monthly payments, in a reverse mortgage the cash flow is reversed, and the lender makes payments to the borrower, enabling borrowers to use the tax free cash they receive in any way that they wish.

There are no minimum income, asset, or credit qualifications to meet and no effect on Social Security or Medicare benefits. The property must be the primary residence of the borrower and properly insured and maintained, with real estate taxes kept current. As long as the borrower continues to live in the property the loan can never be called.

Unlike a traditional mortgage where the balance starts high and the borrower’s monthly payments systematically reduce the loan balance, the balance of a reverse mortgage loan starts low and continues to increase as more cash is drawn and the deferred interest charges are added to the balance. Repayment is required if the home is sold, or when the last borrower permanently leaves the property, or passes away. At that time, the heirs can sell, or refinance, the property to pay off the loan.

Once the province of a few small banks and private lenders, the great majority of reverse mortgages today are provided through government-sponsored programs, namely the HUD/FHA Home Equity Conversion Mortgage (HECM) and the Fannie Mae Home Keeper (HK) programs.

Telephone Seminar Sponsor - Harbor Mortgage Solutions
The Senior Homeowner Division of Harbor Mortgage Solutions is dedicated to providing customized service, obtaining the best possible solution for each individual client every time.

An equal opportunity lender licensed in Massachusetts (license #MC0041) and Rhode Island (license #20041821LB), Harbor Mortgage Solutions is a member of the Massachusetts Mortgage Association, the National Association of Mortgage Brokers, and the National Reverse Mortgage Lenders Association, strictly subscribing to their rigid code of ethics. Harbor Mortgage Solutions is also an Educational Subscriber of the Massachusetts Chapter of the National Academy of Elder Law Attorneys.

For additional information on services offered by Harbor Mortgage Solutions please call 781-843-5553 or 800-599-8700, or visit www.HarborMortgage.com.

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Manufactured Home Mortgage Loans

Stock Photo

Many potential home buyers find the price is right on a manufactured home and a record number of 10,783 Californians purchased them last year. This is no surprise when the prices can be as low as $129,000 for a new 2,600 square foot home. Another attraction is the increased customization available on manufactured homes.

Buyers can get wood burning fireplaces, stucco exteriors, even attached garages, making manufactured homes look more like a standard home. The price and extras may be right, but getting manufactured home financing can be a difficult endeavor.

Peter Skillern executive director of the Community Reinvestment Association of North Carolina notes, “[Lending] companies used to underwrite anyone who could make an X on the line… [It] came back to bite them.� Green Tree Financial, one of the nation’s largest lenders for manufactured home mortgages found that 30 year mortgages were a huge liability, mostly outlasting the homes and encouraging defaults on the loans.

There were so many defaults in fact, that Green Tree filed for bankruptcy in 2002. Many lenders now will not even consider this kind of loan and potential borrowers are having difficulty financing manufactured homes.

It may take more work and effort to get a manufactured home loan these days, but be sure to take your time to find the right manufactured home lender. Wes Johnson author of “The Manufactured Home Buyer’s Handbook� states that buyers, “should be extremely wary of predatory lending practices.� Compared with a traditional mortgage, consumers should expect to pay larger down payments, higher interest rates and generally a shorter repayment period.

This doesn’t mean that the loan should have ridiculous interest and payments, however. Potential borrowers should shop around and also keep in mind that it can more difficult to refinance a manufactured home mortgage than a traditional one. Manufactured homes without land are not likely build equity quickly, which makes refinancing unlikely.

This also means that borrowers will have an easier time getting the first mortgage if land is part of the purchase price of the manufactured home. The value is more likely to appreciate on a manufactured home that is bundled with land. So if you think that a manufactured house might be the home of your dreams, do your research so that you can make the best decisions about financing.

Becky is a respected writer who recommends the following online resources at . Please visit these additional resource websites:
To get a free loan quote for a and .

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Westland Michigan Real Estate - Sell Your Home On Terms Or Buy A Home Even With Bruised Credit

There are some truly beautiful properties available in the Westland Michigan real estate market, for less than $500,000. The median price for homes in the Westland MI real estate listings is $140,900, less than that of nearby Livonia and far less than the median price in Ann Arbor, which is only a 30 minute drive away.

The Westland Michigan real estate market covers an area of some 20 square miles in Wayne County, about 16 miles from Detroit. It has been referred to as the "place to be" and a "City of Pride, Progress and Promise". Even though many of the neighboring cities have seen financial crisis and shortfalls during the last several years, Westland has continuously been able to "balance the budget" and increase surpluses, without any interruption to city services.

If you are having trouble selling Westland MI real estate, you are not alone. Nearly 500 properties are currently in foreclosure or pre-foreclosure status. A foreclosure can be devastating to your credit rating and could make it very difficult for you to ever own another home. If you are facing a foreclosure situation, there is help.

On the flip side, you may be interested in buying, not selling, Westland MI real estate, but fear that past credit issues will hold you back. Many banks and lenders have implemented standards making it more difficult for bruised credit buyers to qualify for a mortgage, especially after the subprime market collapsed. Experts in the area say that at least part of the blame for the "slow" real estate market goes to lenders fearing bad loans.

But despite this, people with past credit issues can own a home in the Westland Michigan real estate market or elsewhere in the state. The solution is to buy a home on a rent to own basis. This allows you to live in a home of your choice, while improving and repairing your credit. If you have reliable employment, a few thousand for a downpayment and can afford the monthly payments, then you should be able to buy your own home. It may take a little time and a little help from people like mortgage brokers, real estate attorneys, and real estate investors, but you should be able to qualify for a conventional mortgage by the time your lease option term is up.

There are many reasons to buy Westland MI real estate. Property values will likely increase as economic issues throughout the state improve. Real estate is always a good investment. Paying rent for years leaves you with only a bunch of rent receipts and no ownership equity. On the other hand, as you make your monthly mortgage payments and the value of your home increases, you have invested in your future and the future of your family.

Hotel Zoso owners file for bankruptcy

Hotel Zoso in downtown Palm Springs is facing some financial troubles. It's owners have filed for bankruptcy.

This nearly a year after a Las Vegas-based private equity firm with financial interests in the hotel filed for bankruptcy in Nevada.

The hotel's owners says the filing is a standard business practice to restructure their debt.

There are no plans for any lay-offs or changes in the hotel's day-to-day operations.

Buying Spanish Property - What Happens Once You've Agreed Your Price? Some Very Important Points

When you have got located your property, agreed a terms and satisfied yourself (or your solicitor) that the property is free from all burdens and debts and or planning problems, it is structurally sound, bank warrants are issued if it is a new construct and that you are getting a good deal, then it is clip to pull up a private contract.

This is a written document that states in simple terms that you hold to purchase and the marketer holds to sell the property as mentioned. It also qualifies the terms and statuses of the sale, what the terms is, what is included in the price, when the completion day of the month volition be, what the amount of the sedimentation will be, how this will be paid, what the sum amount to be paid is and how this is to be paid and anything else that is deemed important. Your canvasser will either rough this up for you or the agent will have got drafted it so you need your canvasser to check it out.

Now then one piece of advice well deserving heeding.

If the purchase of the property is dependent on anything – anything at all - guarantee this is in the contract. If you need a mortgage and you cannot purchase the house without it – and you subsequently don’t complete because you couldn’t obtain a mortgage – You LOSE your deposit. In total.

I have got seen it go on only once – the gentleman in inquiry bought a house without having sold his first. He was convinced he would easily sell his house. He had bought cheap, and done tons of reforms to it, it was in a good location. But he took too long to finish the reforms and set his house on the market – in the meantime the United Kingdom market drop considerably affecting the Spanish Market and he couldn’t sell his house. His 5 calendar months (an unusually long clip from private contract to notary) was up and he lost in the part of €40,000.

Had he have got got got listened to advice and stipulated in the contract that the purchase was dependent upon the sale of the house (something the marketer would have agreed to at the time) then he would have been safe. But he didn’t listen and thought he knew best.

Let me reiterate this just once more.

IF THE house PURCHASE DEPENDS ON ANY factor – put option IT IN THE private contract

Once the private contract is signed you will then pay the 10% sedimentation (or whatever the sedimentation agreed is). Failure to ran into the statuses of the private contract will lose you your deposit.

If the marketer dorsums out then he must pay you your sedimentation back plus the same again.

If you desire more than utile advice about purchasing property in Kingdom Of Spain - including how you can potentially reduce the cost of your proeprty by some 3-25%, then travel visit www.spanishproperty-direct.co.uk/book.htm. For more than interesting articles on purchasing in Kingdom Of Spain visit www.spanishproperty-direct.co.uk/articlepage.htm

Chase Says It Will Move if City Balks

is threatening to move thousands of employees from Midtown to Stamford, Conn., if New York officials do not give it a larger subsidy package to build a 50-story skyscraper near ground zero, according to real estate executives and government officials involved in the talks.

Officials view the bank’s threat to relocate outside Manhattan as the latest move in what has become a routine game of corporate poker in which companies try to extract special benefits. But Chase has gotten in touch with at least one large property owner in downtown Stamford, although it remains unclear whether the bank is serious or bluffing.

Chase struck a tentative deal with the Port Authority in late March to pay about $300 million for the development rights at the site of the soon-to-be-demolished building, at Greenwich and Cedar Streets. Chase planned to build a 1.3-million-square-foot tower there and move thousands of employees from Park Avenue to Lower Manhattan, in what was widely regarded as a boon for the beleaguered district.

Officials expected that the move would solidify Lower Manhattan’s place as a world financial center and validate the redevelopment of the World Trade Center site as a commercial complex.

In subsequent negotiations, state and city officials offered the bank the kind of benefit package available to any company moving to ground zero: a combination of tax breaks, cash payments and subsidized electricity benefits worth more than $100 million. But Chase has continually pushed city and state officials for a batch of subsidies akin to what got in 2005 to build a headquarters in Battery Park City. Critics described that deal as an egregious example of corporate welfare.

State and city officials have resisted the bank’s demands. They regard the Goldman deal as an aberration. And Mayor has said that the city will not grant any special benefits beyond what any other company would get.

“We would hope that Chase recognizes that Lower Manhattan is the financial capital of the world and that they would want to be located here,” said John Gallagher, a spokesman for Mayor Bloomberg. “Because the market in Lower Manhattan is strong and because Chase will realize more than $100 million with the incentives in place for Lower Manhattan, giving them an additional incentive package at this point would be difficult to justify.”

Joseph Evangelisti, a spokesman for Chase, declined to comment. Last week, Chase reported a 55 percent rise in first-quarter profits.

Stamford has been a relatively sleepy rival for Manhattan corporations compared with Jersey City, where U.S. Trust, Goldman Sachs, Chase, UBS and other financial institutions have moved at least part of their operations. Until recently, only UBS and some hedge funds had major operations in Stamford. But now the Royal Bank of Scotland is building a $400 million office complex there for what will be its North American headquarters. The complex includes a 95,000-square-foot trading floor and room for up to 1,400 traders.

State and city officials in New York continue to express optimism that a deal can be struck downtown for Chase. One official, who insisted on anonymity because he was not authorized to talk about Chase, said that the snag centered on sales-tax breaks on building materials for the tower, while another said it had to do with payments the bank would be required to make in lieu of taxes.

Office rents are considerably cheaper downtown than uptown, but holding the line on subsidies has still been difficult since the 2005 Goldman Sachs deal. Goldman negotiated with state and city officials to build a headquarters in Battery Park City, a significant financial investment and the first dramatic boost for Lower Manhattan after the terrorist attack on the World Trade Center.

But after a series of missteps by aides to Gov. , the state was forced to grant an unusually large subsidy package to ensure that Goldman would build the tower.

Goldman Sachs got incentives worth an estimated $650 million in cash grants, tax-exempt bonds, sales and utility tax breaks and discounts on required payments in lieu of taxes. Since then, Chase, and have sought similar packages. City and state officials have rebuffed them.

“The atmosphere in the city and downtown has changed dramatically since Sept. 11,” said Patrick J. Foye, co-chairman of the Empire State Development Corporation, who is talking with Chase executives. “Rents downtown are very strong and demand continues to grow. The state would welcome JPMorgan moving part of its operations to the city’s vibrant downtown.”

Property Purchase Cyprus-Style

If you're looking at international property for sale in Cyprus, you need to be aware what is involved in the buying process.

It is quite straightforward to purchase a property in Cyprus, it can be done through an agent or developer, or a partnership of both. Agents charge the buyer a commission of 5%, although an extra 3% may be charged if a developer is also involved.

Buying Cyprus property

These are the steps you follow when purchasing property:

• Title Deed authenticity is checked and authorised by a solicitor


• a Contract of Sale along with other special conditions is created, requiring you to pay a 10% cash deposit to vendor


• if you are returning home, it is good to give Power of Attorney to your solicitor who can then act in your absence if needed


• your solicitor applies for a Purchase Permit to the Council of Ministers


• the Land Registry assesses the property for the 6% Stamp Duty evaluation and 1% Municipality Tax


• on completion day, the solicitor pays the remainder of sale price to vendor


• the vendor signs the title deed into the purchaser's name


• the purchaser's name is entered into the Land Registry Office's records and the new Title Deed is issued.

So do seriously consider Cyprus as an overseas property proposition. There's plenty of villa, townhouse, rural house or apartment options on offer in beautiful Cyprus.

Note that when your property is signed and authorised, you have to send it to the Land Registry within 2 months along with stamp duty payment. This makes sure that the property is not sold to other parties before approval is given.