Equity is the difference between a home’s current value and any existing loan balances. It can go up or down, depending on the local real estate market. For example, if your mortgage balance is $189,000 and you have a home equity line for $46,000, then your total loan balances come to $235,000. Should you decide to sell or refinance, and you hire an appraiser who appraises your home at $339,500, your equity would be $339,500 minus $235,000, or $104,500. (more…)
Do You Want to Make Your House Prettier? Check this! (2)
Posted by in Garden | Home Improvement | mortgage | repair home - (0 Comments)I had seen them before, in the backyard of one of my parents’ houses. We had a termite infestation, with food provided by a rotted shed and years of deferred maintenance.
We bought the house in March 1982. In those days, lenders insisted on termite reports as a condition of obtaining a mortgage. We had a termite inspection that said that the ho
use was clean and came with a year’s guarantee. I began demolishing the shed in April 1983, and that’s when the termites appeared. My question is: How did the termites know that the guarantee was up? (more…)