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May 2010 Monthly Archive

May 31, 2010

High Interest Savings Account

Simon Volkov

High interest savings account refers to bank savings accounts that pay a higher annual percentage yield than traditional accounts. Prior to the banking crisis, the average rate of interest for savings accounts varied between 2-1/2 and 5-percent. Today, the average interest rate is less than 1-percent.

It is crucial for consumers to comparison shop high interest savings account providers in order to obtain the highest return on investment. Financial experts recommend seeking out banks that compound interest daily. Many banks compound interest on a monthly or quarterly basis which can substantially reduce the accrued interest; defeating the purpose of placing your money into a high interest savings account.

Real Estate Investing article on "High Interest Savings Account"

May 27, 2010

Refinance Rates

Simon Volkov

Refinance rates can amount to several thousand dollars; especially if homeowners are consolidating two or more home loans. While mortgage refinance can ultimately save borrowers a considerable amount of money over the term of the note, it is imperative to compare lenders to obtain the lowest rate of interest and avoid unnecessary fees.

Numerous refinance rates can be assessed. These costs can range from less than $100 to more than $2500. Banks typically charge refinance fees for new loan applications, credit reports, preparation of loan documents, home appraisals and inspections, lawyer review, and closing costs.

Real Estate Investing article on "Refinance Rates"

May 24, 2010

IRS Debt

Simon Volkov

Most people with IRS debt will agree that owing the Internal Revenue Service is stressful. They worry an IRS agent will arrive at their door to repossess valuable items. They have heard horror stories of people being sent to prison over unpaid back taxes. They lose sleep thinking the IRS will attach wage garnishments; leaving them little income to pay their bills.

If you are faced with IRS debt problems, the worst thing you can do is ignore the problem. Believe it or not, the IRS offers taxpayers multiple solutions to payoff back taxes. However, you must be proactive and initiate contact with the Internal Revenue Service. Otherwise, payment options will be limited and your worst nightmares could turn into reality.

Real Estate Investing article on "IRS Debt"

May 21, 2010

Consolidate Loans

Simon Volkov

Most people choose to consolidate loans in order to eliminate multiple payments and reduce overall interest. By combining two or more loans, borrowers can lower monthly expenses and potentially improve personal credit scores. In order to consolidate loans, borrowers must possess a good credit score and a history of consistently paying debts on time.

Before making a final decision to consolidate loans, borrowers should take time to conduct research and compare loan consolidation lenders and applicable rates. Additionally, borrowers should obtain credit reports from each of the credit reporting bureaus. Banks have tightened lending criteria and rarely allow borrowers enter into loan consolidation if they have low FICO scores or attached liens or judgments.

Real Estate Investing article on "Consolidate Loans"

May 18, 2010 | Comments: 2

Remax Real Estate Buying Bank Owned Foreclosure List

Simon Volkov

The Remax Real Estate buying bank owned foreclosure list is an excellent resource for locating properties priced below market value. When banks repossess foreclosure houses they often assign Remax realtors to list properties and handle all facets of the sale.

The Remax Real Estate buying banked owned foreclosure list consists of all types of real estate making it a good resource for first time home buyers and real estate investors. Discounted properties range from residential homes to commercial real estate, as well as industrial parks, retail outlets, golf courses, and raw land.

Real Estate Investing article on "Remax Real Estate Buying Bank Owned Foreclosure List"

May 13, 2010

Home Equity

Simon Volkov

Homeowners who obtain a home equity loan or line of credit use the accrued equity as collateral to secure the loan. When the housing crisis occurred, millions of homeowners lost a substantial amount of home equity because of the dramatic reduction in real estate prices.

To determine the amount of available home equity, lenders calculate the outstanding balance owed on first and second mortgages and subtract it from the appraised property value. The difference between the two amounts will determine how much money borrowers qualify for when obtaining a home equity loan.

Real Estate Investing article on "Home Equity"

May 10, 2010

Loan Deferment

Simon Volkov

Loan deferment might be a good choice for students facing temporary financial challenges. Most college loan payments can be deferred for a few months when students are enduring economic hardships, unemployment, military deployment or enrolled in school at least half-time.

Students must apply for loan deferment through the loan provider. College loans that qualify for deferred payments include: Parent PLUS, Graduate PLUS, Stafford, federal, and private student loans. Students that have entered into college loan consolidation may also qualify for loan deferment.

Real Estate Investing article on "Loan Deferment"

May 06, 2010

Buying Bank Owned Real Estate

Simon Volkov

As with any realty investment, buying bank owned properties should be carefully scrutinized. While it is true bank owned homes are priced below market value, they may not be as good of a deal as buyers anticipate.

Buying bank owned real estate is no different than buying properties listed through any independent real estate agent. The primary difference is banks hold the property title and negotiations are held with the servicing lender's loss mitigation department.

Real Estate Investing article on "Buying Bank Owned Real Estate"

May 03, 2010

Prudential Real Estate Buying Bank Owned Foreclosure List

Simon Volkov

The Prudential real estate buying bank owned foreclosure list is an excellent resource for locating discounted properties across the nation. Foreclosure properties are quickly becoming a favored choice amongst home buyers and real estate investors because they oftentimes provide instant equity and are nearly always priced below market value.

Home buyers can utilize the Prudential real estate buying bank owned foreclosure list to scout out all types of properties. Whether you're looking for a single family residence or commercial real estate, chances are you will find a perfect match via the Prudential foreclosure list.

Real Estate Investing article on "Prudential Real Estate Buying Bank Owned Foreclosure List"