The Hawaii Team Real Estate Blog
The Bait and Switch
When I came out of college, I got a job selling cars and some of my fellow car salesmen were involved in the old “bait and switch” tactics of selling.
Help Your Lender Help You
The most dreaded part of applying for a mortgage is all the paperwork. Mortgage documentation requirements are more stringent than ever and every “T” must be crossed and every “I” dotted.
Cash-IN refinance?
A cash-in refinance is when the new mortgage is smaller than the existing mortgage and the homeowner brings cash to the closing table. In contrast, a cash out refinance is where the old mortgage is less than the amount of the new mortgage and the borrower receives cash back.
Disputed Accounts
So, you’ve exercised your rights as dictated by the FCRA and disputed some inaccurate information on your credit report. Statistics show that 80% of credit reports contain inaccurate information. Disputing these inaccuracies is your legal right and is encouraged by the Federal Trade Commission and consumer groups.
Credit Card Limit Cut?
Been making your credit card payments on time, careful not to exceed your limit, and been shocked when the credit card company cuts your limit or closes the card without warning?
Reverse Mortgage for Purchase?
We usually think of a reverse mortgage as a way to help people over 62 use the equity in their homes to upgrade their quality of life. But what if they want to buy a new home?
Divorce Mortgages
A divorce mortgage is a refinance transaction that removes the departing spouse from the current debt secured by the home. The spouse retaining the property refinances the loan that is in both parties name with a loan in their name alone.
Keeping Up With The Jones’
Last month, I received an email from a reader of this column telling me that the problem of “keeping up with Jones” was one of the main reasons we got into real estate trouble in this country.
Can you still get a mortgage?
You do not have to be Bill Gates to get a mortgage, however, mortgage requirements have tightened up considerably. Unless you are a vet applying for a VA mortgage, 100% financing is gone.
Toxic People
There is a saying in business that 20% of the people you deal with create 80% of your aggravation. I believe this to be true because I have seen it time and time again in my own life. The question is: what do you do with the 20% that you consider as toxic people?
The Gap Between Buyer and Seller Is Still Too Great
Fuller Sotheby’s International Realty Agent Dan Polimino tells us that when it comes to the Real Estate transaction buyers still don’t get along with sellers and visa versa.
Seduced by an ARM (Amazingly Risky Mortgage)?
A common myth among people with an ARM (Adjustable Rate Mortgage) is that they can switch to a fixed rate mortgage when they see interest rates headed up. This is like waiting to put on your seat belt before a traffic accident. By the time you react, it is too late. Remember that interest rates float down and jump up.