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How to Be a Savvy Loan Shopper

Be a Savvy Loan Shopper… by Jen Hudson, GRI

 

When buying a car, you want go out and compare the best deals available, right?  If you find a car that is a “steal,” then you know you should look a little closer at the details and ask why.  Are they offering a warranty, a dealer incentive or maybe you are trading something else in.  Would you agree that these different details could drastically impact your final sales price?

Well, the same principal applies when shopping for a home loan.  You certainly don’t want to wind up with a lemon, so learn to be a savvy shopper.  Here are some tips and common mistakes people make when shopping for a home loan. Continue reading “How to Be a Savvy Loan Shopper”
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3 Considerations Before Investing

3 Factors to Consider Before Investing

 

Investing in real estate can certainly be a lucrative investment, but only when done right!  The flip side of that is that it can also turn out to be not only a financial nightmare but a huge burden emotionally when done wrong.

Before you even start thinking about investing, you need to do your homework.  I don’t mean just looking at returns like most “investors” do.  There is so much more than the $/sf, the cap rate today or even the purchase price and interest rate you’ll pay on the loan!

There are 3 main categories you must consider when analyzing real estate investments.  Continue reading “3 Considerations Before Investing”
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Be the Bank

Let’s admit it.  Making money in real estate during times of appreciation and free flowing financing does not take skill, negotiation or fluent understanding of the market.  For the last decade, you could have pretty much bought something with your eyes closed and still made money the next year.  Did you notice that “real estate investors” started coming out of the woodwork?  Of course, now we have “foreclosure specialists” and “short sale experts,” but that discussion is for another day.

 

Today’s market takes skill, knowledge, creative thinking and… hard work…  so, where did those guys go? Continue reading “Be the Bank”
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Mortgage Debt Forgiveness

Mortgage Debt Forgiveness

If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2013, you may be able to claim special tax relief and exclude the debt forgiveness income.

Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence. The limit is $1 million for a married person filing a separate return. Continue reading “Mortgage Debt Forgiveness”
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Deficiency Judgments, Foreclosures & Short Sales

Here’s one of the more recent questions from the Washington Association of REALTORS® legal hotline.  The deficiency judgment seems to be a hot topic again lately.. and another reason why you should seek an experienced agent for your short sale situation. QUESTION:
When can a lender take a deficiency judgment against a seller and, conversely, when is a lender prohibited from taking a deficiency judgment? Continue reading “Deficiency Judgments, Foreclosures & Short Sales”
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Filing Bankruptcy & Selling your Home?

Filing Bankruptcy & Selling your Home?

Below is today’s opinion from Annie Fitzsimmons, the attorney who answers questions for the Washington Association of REALTORS® Legal Hotline.  If you or someone you know is facing a hardship with their property, please talk to an expert to determine the best way to proceed forward. For additional questions or information, please contact Jen at (206) 293-1005 or send me an email to jen@hudsoncreg.com.

Question:

Property is listed and the owner just filed for bankruptcy. Can listing agents continue to list the property and try to find a buyer? Continue reading “Filing Bankruptcy & Selling your Home?”