The competition for rental homes is heating up as more Americans choose to rent instead of buy. That increase in demand is driving up rents in some markets. Consider these eye-opening statistics: 25% of renters spend more than half of their income on rent and utilities, according to a recent… read more →
The average fees that mortgage lenders charge consumers to close on a home loan have increased in the past year in most states, with Hawaii being the most expensive. A homebuyer getting a $200,000 loan pays an average of about $2,400 in origination and third-party fees, such as the appraisal,… read more →
The Obama administration wants to create a mortgage market that is more forgiving to borrowers who lost their homes due to the recession, an effort that could widen the pool of potential homeowners. A recent rule change lets certain borrowers who have gone through a foreclosure, bankruptcy or other adverse event—but who have repaired… read more →
You don’t have to pay full price for your home insurance. There are lots of discounts you may be eligible for, including some very basic ones, and all you have to do is ask. Insurance companies try to provide an opportunity for customers to lower their premiums. Getting cheap home… read more →
A pile of paperwork thuds onto the table at the closing of any home sale or refinance. One of the key documents is the HUD-1, a government-mandated settlement statement that dissects the costs of the deal. It also assures borrowers that they are receiving the loan upon which they agreed. Here’s a… read more →
Find some family fun this last weekend of summer. The Washington, DC area has some great outdoor events going on this Labor Day Weekend. Here are some suggestions: Kennedy Center Page to Stage Festival August 31-Sept. 2, 2013. The Kennedy Center hosts more than 25 local theater companies in… read more →
More money-flush homebuyers are plunking down cash for their properties, and they’re reaping a bevy of benefits that come with cutting lenders out of the buying equation. Sure, mortgage rates are low and enticing, but they can trigger red-tape migraines. At the closing table, more buyers are paying in green –… read more →
Living alone? You trendsetter, you. The Census says 33 million of us live solo. That’s a quarter of American households, according to the National Association of Realtors. The popularization of the solo life — in 1970, one-person households comprised just 17% of all households — is a historic change in human… read more →
A home is one of the most valuable assets most people will ever own. Unfortunately, some major perils can befall a house and put a serious dent in the value of that asset. Many of these perils are much more insidious than a fire or natural disaster. Read on to… read more →
For many couples, it makes sense to buy a home before tying the knot. It’s a decision more couples are now making. A recent survey found that 1 in 4 married couples between the ages of 18 and 34 purchased a first home together before marriage. The trend follows the increase in… read more →