Monthly Archives: December 2017

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down payment assistance

Learn about the Treasury Down Payment Assistance Program

Many people have planned to buy a home in the New Year. Many renters have aimed to change their status to homeowners. But, the reality is harder than dreaming and making plans. Buying a home means you have to pay the down payment, which is difficult for the younger generation (considering up to the millennial generation). It’s difficult to save up for the down payment when you are struggling to keep up with all the expenses – rents, student loans, and other incidentals. Read More →

tiny house facts

Tiny House Facts You Should Know Before Moving into One

Living in a tiny house almost seems like a utopian concept. You live a hip life within the four walls of a tiny space, keeping your clutter and carbon footprint to the minimal level. It could also be an ideal getaway when life seems too complicated. Well, this lifestyle definitely has its perks. But, you should also know some bitter truths to burst the bubble. Read More →

buying foreclosure

Buying a Foreclosure – Is It the Right Decision?

Many potential homebuyers look for a short sale or foreclosure because everybody loves to get discounted products! Last week, we covered a topic on the short sale. This time, we will discuss whether it will be the right decision to buy a foreclosure. Read More →

short sale purchase

Things You Should Know about a Short Sale Purchase

A short sale is the last straw before the final foreclosure. It refers to the situation when a homeowner is selling their house for less than the mortgage amount they own on it. However, the sale still depends on the lender’s approval and there is no guarantee that the advertised price will be the selling price too. Read More →

new tax bill

What will be the Effects of the New Tax Bill on the Homebuyers?

The Senate has passed a new tax bill during the first week of December. It seems that the GOP tax plan is likely to be a law before the end of the year and it can go into effect as early as January 1, 2018. Read More →

money saving tips

How to Stop Small Leaks on Your Personal Finances

If you are thinking of buying a home in the next couple of years, you have probably already started saving for the down payment. This is the stage when every penny counts. This is also the time when you should pay attention to small money leaks. Read More →

rent stabilized apartment inheritence

The Rules to Inherit a Rent-Stabilized Apartment

Last week, we’ve discussed how to inherit a rent-controlled apartment. If you are not eligible to inherit such a rental unit, don’t lose hope. You can still live in a huge apartment without paying an exorbitant rent given that you are eligible to inherit a rent-stabilized apartment. Read More →

gift money

What are the Rules for Using Gift Money for a Down Payment?

How much do you have to pay for the down payment? Twenty percent of the total price of the house, at least this is the amount that the lenders prefer. However, managing such a big amount of cash is not possible for most of the buyers. There are many ways to subsidize the down payment and gift fund is one of them. Read More →

rent controlled apartment

The Legal Steps to Inherit a Rent-Controlled Apartment

Can you inherit a rental unit? Yes, but it’s not something like taking over a house from parents or a family member. It means receiving the right of renting an apartment where a family member or a relative was the primary tenant. Read More →