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Foreclosure the action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments. There are thousands of homeowners currently in the foreclosure process, which creates many disadvantages to the mortgagors for example not being able to get a mortgage loan for a real estate property, The foreclosure also […]

A homeowner’s association (HOA) is an organization in a subdivision, planned community or condominium that makes and enforces rules for the properties within its jurisdiction. The purchase of the property automatically makes the homeowner a member of the HOA and dues are required. Other than the dues (expenses) which usually are paid periodically there are […]

“In the United States, millions of single-family homes are purchased each year. Since buying a home involves a number of steps, the process does not always go smoothly. House inspections uncover necessary repairs, pest inspections uncover termite infestations, and appraisals come in under the purchase price. Title defects are discovered and underwriters request additional documentation […]

Home equity loans allow you to borrow against the value stored in your home. They can be useful for borrowing large amounts of money, and they’re easier to qualify for than other types of loans because they are secured by your house. If your home is worth more than what you own on it, it […]

The promissory note or promissory letter is a binding legal instrument that acts as a borrower’s promise to repay a private loan to a lender. Many individuals have the perception that a promissory note is nothing more than a complex version of an IOU, but the fact is that legal promissory notes act much in […]

Home sellers and home buyers who make purchase agreements with each other are generally bound by their contracts’ terms. Many real estate purchase agreements contain language detailing just what repairs home sellers are responsible for completing before home sales close. Also, homebuyers sometimes have home inspectors or contractors check out the homes they’re buying to […]

There is often a misconception and/or confusion of what a final walk through is and why it’s important.  A final walk through can sometimes be referred to as a pre-closing inspection. Since the offer was accepted, over the past couple months there have been many professionals working hard to ensure that the closing takes place […]

“We got spoiled in 2016. Mortgage rates fell below 4 percent at the beginning of the year, and they spent the summer flirting with record lows. And they began 2017 above 4.25 percent. It’s a good idea to keep things in perspective, though. For most of the past 50 years, homebuyers would have been delighted […]

If you’ve ever been in a situation where you need to sell a house fast, you know how frustrating it can be. Day after day, you hope the perfect buyer will come along and make a great offer. Says Laura Adams author of “6 tips to sell a house fast in any market” written on […]

The Rio Grande Valley market had 12,691 vacant developed lots in inventory at the end of the first quarter. Based on the current annual starts rate of 1,836, this lot total represents 82.9 months of supply of lots, well above what is considered a healthy range. A year ago there were 13,779 developed lots, 98.3 […]