Home Equity

Avoiding Home Equity Scams Avoiding Home Equity Scams Y ou could lose your home and your money if you borrow from unscrupulous lenders who offer you a high-cost loan based on the equity you have in your home. Certain lenders target homeowners who are elderly or who have low incomes or credit problems—and then try to take advantage of them by using deceptive practices. The Federal Trade Commission cautions all homeowners to be on the lookout for: Equity Stripping: The lender gives you a loan, based on the equity in your home, not on your ability to repay based on your income. If you can’t make the payments, you could end up losing your home. Loan Flipping: The lender encourages you to repeatedly refinance the loan and often, to borrow more money. Each time you refinance, you pay additional fees and interest points. That only serves to increase your debt. Credit Insurance Packing: The lender adds credit insurance to your loan, which you may not need. Bait and Switch: The lender offers one set of loan terms when you apply, then pressures you to accept higher charges when you sign to complete the transaction. Deceptive Loan Servicing: The lender doesn’t provide you with accurate or complete account statements and payoff figures. That makes it almost impossible for you to determine how much you have paid or how much you owe. You may pay more than you owe. Some of these practices violate federal credit laws dealing with disclosures about loan terms, discrimination based on age, gender, marital status, race, or national origin; and debt collection. You also may have additional rights under state law that would allow you to bring a law suit. The FTC suggests if you’re thinking about using your home as collateral for a loan, be careful. Unless you can make the loan payments out of current income, you could lose your home as well as the equity you’ve already built up. Some additional tips to remember: The lure of extra money or the chance to reduce monthly credit payments can be very costly in the long run. High interest rates and other credit costs could get you in over your head. Credit insurance may not be a good deal from a lender. If you want the added security of credit insurance, shop around. Don’t sign a loan agreement if the terms are not what you were given when you applied. Ask for an explanation of any dollar amount, term, or condition that you don’t understand. Federal law is very clear about what credit and loan term information must be provided in writing when you apply for a loan and before you sign any agreement. In addition, shop around for the best loan terms and interest rates. Contact lending institutions, such as banks and credit unions, and consult a legal or financial advisor, or someone you can trust before you make any loan decisions. Or contact your local Fair Housing Office, legal aid, or senior services organization for information and help. The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or to get free information on consumer issues , visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft and other fraud-related complaints into Consumer Sentinel , a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP www.ftc.gov Jan. 1998

Denver Real Estate Site

Denver real estate; financial glossary Financial terms glossary Common Mistakes to Avoid Home buying mistakes can be avoided, you need to know what some of them are. Getting a Loan Follow these steps prior to applying for your home loan. The Mortgage Loan Application A few minutes of preparation can save you hours of hassle, here's the list of what you will need. Interest Rates Lock in your rate with confidence, after you have read these facts. Loan Approval What constitutes as loan approval in Denver? Earnest Money Why is it necessary to pay earnest money before I buy the house? Closing Costs Home buying costs vary by region, here are sample costs for Denver. Down payment for a mortgage Learn about the various allowable sources to obtain your down payment. What is PMI? PMI, do you really need it? FICO Scores FICO scoring is a standard, you need to understand the basics to protect your credit! The steps to getting a VA Loan The steps to getting a VA loan, do you need one? What does it take to get one? Reverse Mortgages Reverse Mortgages have many benefits for older home owners. search Denver Real Estate Site Glossary of Financial Terms Amortization - The gradual reduction of debt by means of periodic payments sufficient to pay principal and interest and thereby liquidate the debt. ARM - Adjustable Rate Mortgage. A loan where the interest rate can change according to the index, caps, and margin. Appraisal - An unbiased, professional estimate of a property's value based on style, appearance, quality of construction, improvements, usefulness, and the comparable value of nearby properties. Balloon Mortgage - A short term loan, usually 5 to 7 years, that features a fixed interest rate, and a final large balloon payment for balance of the mortgage. Borrower - A person who receives funds in the form of a loan with the obligation of repaying the loan in full with interest, if applicable. Broker - One who, for a commission or fee, brings parties together and assists in negotiating contracts between them. In real estate transactions, the broker usually brings together the buyer and the seller. Caps - The maximum or minimum amount by which the interest rate on an adjustable rate mortgage can change over each adjustment and over its life. For example a 2/6 cap means that the ARM cannot adjust more than 2% up or down each adjustment, or 6% from the start rate during its life. Chattel - Personal property. Closing - The final settlement of the transfer of property. Involves the buyer's signing the mortgage note and an exchange of title. Closing Agent - Assures that all documentation related to the sale of a house has been completed properly, including the title search and title insurance. The closing agent explains all closing documents to the buyer and the seller, obtains their signatures where necessary, and records the documents. Closing Costs - Fees and other charges paid by the buyer and seller at closing. Closing Statement - A financial disclosure giving an account of all funds received and expected at the closing, including the escrow deposits for taxes, hazard insurance, and mortgage insurance. Co-Borrower - The person who is sharing the mortgage responsibility with the borrower. Contingency - A clause within an Offer to Purchase or within the Contract For Sale that requires a certain condition be met before proceeding t closing. Contract - An agreement between two or more parties to do or not to do a particular thing. Contract for Sale - AKA: Conditional Sales Contract - A sales contract whereby the borrower has possession of the property, but seller retains ownership of the property until the buyer has fulfilled the obligations put forth in the contract. Conventional Mortgage - A Mortgage not insured by the government, such as FHA or VA. Counter Offer - The offer made by one party (buyer or seller) in response to an offer presented by the other. Credit Report - A report to a prospective lender on the credit standing of a prospective borrower, used to help determine credit worthiness. Debt-To-Income Ratio - Long-term debt expense as a percentage of monthly income. Deed - The instrument that transfers title from the seller to the buyer. Down Payment - The buyer's payment to the seller at closing for a percentage of the purchase price required by the buyer's mortgage loan. Earnest Money - Money paid by the buyer to the seller at the time the Offer to Purchase is presented. Generally, earnest money is applied to the purchase price. Equity - The home owner's interest in a property. It is different between fair market value and the current amount the owner owes on the property. Fair Market Value - The price at which a property is transferred between a willing buyer and a willing seller, each of whom has a reasonable knowledge of all pertinent facts and neither being under any compulsion to buy or sell. FHA - Federal Housing Administration - A division of the Department of Housing and Urban Development. Its main activity is the insuring of residential mortgage loans made by private lender. FHLMC - Federal Home Loan Mortgage Corporation - A private corporation created by Congress to support the secondary mortgage market. It sells participation certificates secured by pools of conventional mortgage loans, their principal and interest guaranteed by the federal government through FHLMC. Popularly known as Freddie Mac. First Mortgage - A mortgage that is a first lien on the property pledged as security. FNMA - Federal National Mortgage Association - A private corporation created by Congress to support the secondary mortgage market. FNMA sells mortgage - backed securities backed by pools of conventional loans. Payment of principal and interest on these securities is backed by the US Government. Popularly known as Fannie Mae. Gross Monthly Income - The amount of consistent and stable income that an individual receives each month. averaged over a period of time. This amount includes overtime pay, bonuses, commissions, and income from dividends and interest, provided that the individual can show a consistent history of receiving such income. Hazard Insurance - A contract whereby, for an agreed premium, one party undertakes to compensate the other for loss on a specific subject by specified hazards, such as acts of God or war. Homeowners Association - An organization of homeowners residing within a particular development whose major purpose is to maintain and provide community facilities and services for the common enjoyment of the residents. Housing Expense Ratio - A home owner's percentage of their monthly income. Index - A published financial benchmark used to help determine the interest rate for an adjustable rate mortgage on its adjustment. The margin is added to it. Interest - Money paid for the use of money - that is, money paid for a loan. Loan-To-Value Ratio - The relationship between the amount of a home loan and the total value of the property. For example if you receive a loan of $95,000 on ah home that costs $100,000, the loan-to-value ratio is 95%. Margin - The amount added to the index to help determine the new interest rate of an adjustable rate mortgage. Mortgage Insurance - A policy that allows mortgage lenders to recover part of their financial losses if a borrower fails to fully re-pay a loan. Mortgage insurance makes it possible to buy a home with as little as 5% down. Offer To Purchase - A legally-binding, written contract that declares how much a buyer will pay for a house, provided certain condition are met. Origination Fee - Similar to a point, it is a fee paid to lenders for originating the mortgage. PITI - Principle, Interest, Taxes, and Insurance - the four main parts of a monthly mortgage payment. Planned Unit Development -(PUD) - A subdivision having lots or areas owned in common and reserved for the use of some or all of the owners of the separately owned lots. Discount Points - One point equals one percent of the total mortgage amount. This is a fee paid to lenders to get lower rate on the mortgage. Pre-Approval - Having the loan processed, underwritten, and obtaining loan approval before an Offer to Purchase has been accepted by a seller. Pre-Qualify - Preliminary indications on how large a mortgage a buyer can quality for. Qualify - Ability to meet a lender's mortgage approval requirements. Servicer - After a mortgage loan closes, the loan servicer collects the payments, manages escrow accounts, pays taxes and insurance, and manages delinquent payments. Lenders may often sell or "release" servicing to another business, which means that a home buyer will not necessarily send house payments to the original lender. Title - The right of ownership and possession of a property. Title Insurance - A policy that protects a buyer against errors or omissions or defects in the title of the property. Veterans Administration - (VA)An independent agency of the federal government created in 1930. The VA home loan guaranty program is designed to encourage lenders to offer long-term, low down payment mortgages to eligible veterans by guaranteeing the lender against loss Home Buying Directory Buyer Broker Down Payment How to Qualify for a Mortgage Loan Application Locking in Interest Rate Earnest Money Loan Application Checklist Fico Scores Moving List Moving Pets What is PMI? Finance Glossary Financing Your Home Reverse Mortage Home Buying Process Closing Costs Kristal Kraft , ABR, CIPS, CRS Licensed real estate broker selling Colorado Since 1984 The Berkshire Group Realtors, Inc. 3801 E. Florida Ave, Suite 502, Denver, Colorado U.S.A. 80210 800-319-7738 toll free | 303-589-2022 direct | 720-554-7961 fax E-mail: Kristal Kraft, Realtor 1998-2005, © Reflective Motion Inc. | Privacy Policy | Site Credits | Disclaimer | Site Map ~2 ~3 ~4 Denver Relocation | Buy a Home In Denver | Sell a Home in Denver | Denver Map | Denver Neighborhood Profiles | Denver Sales Statistics | International Real Estate | A Bio | My Favorite Places | Real Estate Resources Denver Loft Homes | The Berkshire Group | Buy and Sell Denver | We Sell Denver | Denver Colorado Real Estate | Denver Blog

Colorado Real Estate Commission

1 Colorado Real Estate license school 100% State Approved Internet Courses!* Real Estate & Appraisal License Programs for all states* Continuing Education Courses! * National Exam Prep Program! * Free CD Backups! * Since 1969 - Our 36th Year of Service! * Mandatory Colorado Annual Commission Update Course on line! * Free Demos! * Enroll Online! - Start Anytime! Learn Real Estate and Appraisal at Home! Call 1-866-311-RETC (7382) Now! 3225 South Wadsworth Blvd., Suite 'S' Lakewood, CO 80227-5009 Contact us! On line courses available for all States! Already a Student? Log in here! HELP WANTED!!! Link up with us! Next Drawing and Winners Colorado Real Estate Commission NEW! Fingerprint Information Don't Wait!!! 2005 Commission Update Expires December 31st!! We Get Letters Helpful Links Dare to Compare! WE INCLUDE ALL OF THE FOLLOWING 168 Hour Broker Program * All State required courses * Extensive Exam Prep * 100% online with backup CD Interactive Real Estate Dictionary * Over 2100 terms   * 6 ways to study R E Terminology Unlimited practice tests * Over 2157 interactive questions * Complete answer references * Instant grading and review of all tests Assured Passing Plan * Live Exam Prep * Live instructor and/or Email support * Toll Free student help lines Set your own class schedule * 6 months to complete * Study anywhere, anytime * Free use of our computers for study Unlimited referral bonuses Free Catalog Free Documents Statewide locations ~ After hours student representative availability ~ Optional textbooks (additional charge) "the innovators in home study education" Approved and regulated by the Colorado Division of Private Occupational Schools, Board of Higher Education, Real Estate Commission, and Board of Real Estate Appraisers. Instructors' qualifications have been credentialed by the Vocational Credential Office, Colorado State University. Our Appraisal Programs/Courses are offered in conjunction with Aims Community College .

Foreclosure Property

Homepage of the California Department of Real Estate (DRE) California Home DRE Home Contact Us What's new About DRE Careers at DRE DRE Records Consumers Escrow Violations eLicensing Examinees Licensees Subdivisions Real Estate Law Regulations Publications Forms FAQs Links Index Department of Real Estate START Examinees and Licensees: Use eLicensing for expedited processing of: Examination services Mailing address changes License renewals Salesperson additions/changes of employing broker Broker certification of salesperson employment Broker discontinuation of salesperson employment Duplicate license requests Additional services Learn to use eLicensing It's easy, paperless and interactive! Resources Key Announcements Brokers Must Report Commission Payments on 1099s Real estate brokers are required to report commission payments of $600 or more to brokers and salespersons on Form 1099-MISC, Box 7 - Nonemployee Compensation. For more information, see 1099 Reporting for Real Estate Brokers published by the Franchise Tax Board. Combination examination and license applications are now available: Broker Examination/License Sales Examination/License Expanded Services: Use eLicensing to apply for the salesperson exam Important Information About: Application Processing Timeframes Satellite Exam Sites for Salespersons and Brokers Can't find what you're looking for? Try the Index Featured Items Topics of Interest: Gulf Coast Hurricanes CalHFA First Time Homeownership Program Instructions to License Applicants Help Avoid DENIAL of Your License Application Guides for First Time Home Buyers and Renters Information for Homebuyers Apply Online for a CalVet Home Loan Predatory Lending Prevention Investigate Before You Invest Small Business and DVBE Opportunities Workers' Compensation Coverage Flex Your Power - Be Energy Efficient! Find out how you can save money, save energy, and save natural resources.   more My CA Customer Survey Course & Instructor Evaluation Back to Top of Page Conditions of Use | Privacy Policy | Tech Problems 2003 State of California This page last modified on Wednesday, December 28, 2005

Rental Property

Hilton Head Rentals-Vacation, Home, Condo & Villa Rental in Hilton Head Island, SC The Premier Vacation Rental Company in Hilton Head Island, SC - Hilton Head Rentals We would first like to thank you for your consideration in selecting the professionals at Hiltonheadrentals.com to satisfy your vacation expectations on Hilton Head Island. We are proud to offer an array of guest services that will anticipate your every desire here in this beach paradise. Hiltonheadrentals.com is committed to first-rate visitor service and owner satisfaction. We take pride in the extra effort we make to insure that our owners' properties are taken care of and that our vacation guests enjoy their accommodations. Hilton Head Rentals .Com is your online portal to resort paradise! Hilton Head Island, South Carolina is the largest barrier island on the southern Atlantic seacoast, a beautiful and friendly community located in the Lowcountry between Beaufort SC and Savannah GA.Whether you dream of a romantic wedding and honeymoon, the perfect getaway for peaceful relaxation, or an action packed adventure for family members of all ages, Hilton Head Island offers unique activities. Golf, tennis, boating, kayaking, fishing, sailing, swimming, horseback riding and walking along the sandy beaches are justa few ways to experience the local climate. If you are planning your next vacation in a private home or villa:Hilton Head Rentals .Com is the exclusive rental agent for many of the finest properties in Sea Pines Plantation, Palmetto Dunes Resort, Forest Beach, Singleton Beach, and other unique locations throughout Hilton Head Island, South Carolina. If you are an resort property owner and would like to list your home or villa for rental with us at Hilton Head Rentals .Com, you will find we have numerous high class repeat guests and our support staff is unparalleled by any other property management company. From the beginning, we have committed a lot of thought and energy to make Hiltonheadrentals.com successful. We have designed a new website along with smarter, more cost-effective ways of renting our properties. Come to Hilton Head Island, SC and enjoy the year-round first class vacation resort. We welcome your inquiries and look forward to helping you enjoy a wonderful vacation here on Hilton Head Island. We hope to see you soon. Hilton Head Island Vacation Rentals Search 1 2 3 4 5 6 7 8 9 10 11 12 13 14 7 Check-In Date Sleeps Nights 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 5 Bedroom 6 Bedroom Other Please Call Sea Pines Folly Field Palmetto Dunes Forest Beach Shipyard Shelter Cove Number of Bedrooms Preffered Location Save HUNDREDS!!! | Last Minute Hilton Head Vacation Rental! Bookmark This Page | Sitemap .. Thursday, December 29, 2005 | Call 1.800.368.5975 NEW! - Hilton Head Pet Friendly Rentals Hilton Head Rentals By Location > Sea Pines > Folly Field > Palmetto Dunes > Forest Beach > Shipyard > Shelter Cove Hilton Head Rentals By View > Oceanfront > Oceanside > Oceanview > Marsh view > Lagoon > Wooded > Golf/Fairway > Harbour Hilton Head Rentals By Bedrooms > 1 Bedroom > 2 Bedrooms > 3 Bedrooms > 4 Bedrooms > 5 Bedrooms > 6 Bedrooms FEATURED VACATION RENTAL 62 North Sea Pines Drive in Sea Pines This six bedroom home is located in Sea Pines Plantation and has all the amenities for an enjoyable vacation on Hilton H... >>more Click here for Our Luxury Rentals 10 Columbine Lane - Sea Pines Surrounded by Sea Pines best beaches and 3 golf courses, this one level 3 bedroom pet friendly renta... >> More The Opal - Sea Pines This 4 bedroom luxury home is located in Sea Pines on the deep water side of Calibogue Cay. Floor p... >> More 64 Mooring Buoy - Palmetto Dunes This beautiful 5 bedroom 2nd-row-to-the-ocean rental home is what vacationing in paradise on Hilton ... >> More The Pearl - Forest Beach This beautiful 4 bedroom oceanfront home is located just outside the back gate of Sea Pines Plantati... >> More LIST YOUR VACATION RENTAL TODAY WITH HILTON HEAD RENTALS . COM ... CLICK HERE! Hilton Head Vacation Rentals | Hilton Head Villa Rentals | Hilton Head Home Rentals | Vacation Discounts About Hilton Head Rentals Dot Com | Contact Us | Terms & Conditions | Privacy Policy | List Your Property | Owner's Login Villamare Villas | Shipyard Condo Rentals | Plantation Club - Sea Pines Hilton Head Real Estate | Hilton Head Rental Guide | Hilton Head Accommodation Vacation Rental Resources ©2005 Performance Development Corporation, Inc. All rights reserved. Designed & Produced by: Performance Development Corporation 14 New Orleans Road | Hilton Head Island, SC |29928 843.671.4700