Category: Home Financing
WHEN CAN I SHRED MY HOME PURCHASE DOCUMENTS
Hello Dave, When can I shred the documents from homes I have bought and sold over the years? Is there ever a need to hang on to closing documents, etc, past 2 years or so? I would like to shred them. Please tell me if there is anything I need to keep. Thanks! Have a... Read More
CAN YOU ADD HOME IMPROVEMENT COSTS TO YOUR HOME LOAN
Dave, We have seen several older homes that need a lot of work to bring them up to acceptable standards. We’re more than happy to purchase a “Fixer Upper” but we’re not sure where the funds to do so would come from. We do not have a lot of cash to put in the home after... Read More
HOW DO I IMPROVE MY CREDIT SCORE
Dear Dave, I would really like to be able to buy a house this late spring or at least by the end of the summer! However, I don’t have a very good credit score. Five years ago I had a foreclosure and two years ago I changed careers to get out of the natural gas... Read More
HOW DO YOU GIFT SOMEONE A DOWN PAYMENT FOR A HOME
Dave, Our oldest daughter is getting married in a few months and we would like to gift her and her future husband a down payment on their first home together. What is the best way to go about this? Should we talk to the lender with them, or simply gift them the money once they... Read More
CAN YOU BUY AND SELL A HOME AT THE SAME TIME
Dave, We are getting ready to sell our house and buy another in a different part of town. Do we need to talk to our bank before looking at homes? We already have an idea of what our price range for the new house will be based on our current home’s value. Another question: do... Read More
SHOULD WE DO AN OWNER CARRY
Dave, My wife and I wish to sell our home and retire to Arizona. We are in a position where we would consider doing “owner financing” when we decide to sell. Our money market investments are a lousy return and doing owner financing with the sale of our home appears to us as an opportunity... Read More
HOW DO WE TIME OUR MOVE SO WE DON’T HAVE TO MOVE TWICE
Dave, Our plans are to move in August/September to Oklahoma to be near family, as we have grandkids who live there. I will qualify for retirement late this summer and need to make sure we remain in Grand Junction until that time. We are aware that interest rates are still attractive and our local market... Read More
WHAT’S THE DEAL WITH $0 DOWN HOME LOANS?
Dave, I occasionally see houses that are advertised as “no money down.” Isn’t this what got us in trouble, when the housing bubble occurred? How are they doing $0 down loans again and why would we go back to the same loans that sank the economy back in 2010? I must admit that I... Read More
IS OWNER CARRY A GOOD IDEA
Dave, My wife and I wish to sell our home and retire to Arizona. We are in a position that we would consider doing “owner financing” when we decide to sell. Our money market investments are a lousy return and doing owner financing with the sale of our home appears to us as an opportunity... Read More
IS IT SAFE TO USE A MORTGAGE LOAN APPLICATION PORTAL
Dave, We were applying for a 30-year fixed-rate mortgage. Our credit scores are in the 800’s, and we were applying for a mortgage in order to avoid IRA withdrawals and the taxes. This mortgage company is pushing us to use an internet portal that requires all of our passwords to our banking and investment accounts.... Read More
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