Lon Reed

• What is a point? A point is a one-time charge paid at settlement when a loan is made. It equals one percentage point of the borrowed amount (thereby deriving its name). On a $50,000 loan, two points equals $1,000.
• Why are points charged? Because conventional mortgage loan rates are generally higher than VA or FHA rates, lenders often charge "discount points" to make up the difference. By paying points, a buyer trades increased initial costs for a reduced interest rate.
• Who pays points? A buyer usually pays a "loan origination fee," which is a service charge equal to one point. As for discount points, both buyers and sellers can pay to bring the buyer's rate down. This can be an attractive selling tool, and a great tax advantage if you're the buyer. Rules vary slightly for VA and FHA loans, so be sure to ask for specific information.

How do you figure out how much home you can afford? We値l tell you in our FREE e-Report, Qualified: How Much House Can You Really Afford?.

Lon Reed
ePro Certified Realtor®
Certified Loss Mitigation Consultant
Certified Credit Consultant
Short Sale/Foreclosure Specialist
San Antonio, TX 78258
800-693-9811 Toll Free
800-362-2949 Toll Free 24/7

http://www.LonReed.com
http://www.OneCallHomeRescue.com
http://www.OneCallCreditRescue.com
http://www.PreForeclosureSolutions.com

http://www.GetaBrandNewStart.com
http://www.BuyBlanco.com
http://www.FreshFortune.net

Your best friend may not tell you, but it's just possible your house needs deodorant. It may if...

• You own a dog or cat.
• You cook with strong seasonings such as garlic.
• Someone in the family smokes (especially cigars).
• The house is so well insulated that it can't breathe.

• Cook spicy food only when the vent fan is running full tilt.
• Disguise unavoidable cooking smells with a commercial spray deodorizer.
• Place an open box of baking soda in the refrigerator.
• Get rid of smells impregnated in counter tops by scrubbing surfaces with lemons; leave overnight and rinse off. (Be careful, however. Lemon juice will bleach some materials.)
• Keep the cat's litter box changed regularly; spray the bottom of the box with a commercial deodorizer after each cleaning.
• Shampoo smelly carpets and/or spray carpets with a carpet deodorizer.
• If you enjoy fragrances, disguise occasional odors with mildly scented candles and/or sachets. (If you're unsure about a visitor's response to fragrances, simply air out the rooms.)
• Air out all the rooms frequently. Fresh air and cleanliness are your best guards against an odoriferous house.

Learn how you can sell your home quickly by reading our FREE online report, HOME SELLER: How To Put Your Sale On The Fast Track. We'll be happy to share more information with you at your convenience. Just give us a call or send us an e-mail!

http://www.LonReed.com
http://www.OneCallHomeRescue.com
http://www.OneCallCreditRescue.com
http://www.PreForeclosureSolutions.com

http://www.CTXEnterprises.com

There are three types of land you can buy for a house you want to build:

• Undeveloped land: raw turf; no streets, gutters, sewers; no gas and electric lines; no grading; no surveyed lots.
• Developed land: everything but the house is on hand; probably owned by a developer-builder who typically sells lots to be built on under the builder's management.
• Spot lots: unused property in an established neighborhood.

• Zoning laws. Will they permit the kind of home you expect to build? Read covenants carefully.
• Water and sewage. In buying developed land or a spot lot, find out (from county offices) where the water line is located. Check to see if there is a sewage line and if newcomers are permitted to hook into it. If not, check into septic system rules and costs.
• Gas and electricity. Are they available and at what cost?
• Taxes. How much are they and how do they compare to taxes on similar property in other areas?
• Surrounding property. Check maps (at county offices) to find out what plans (highways, power lines, etc.) may be in the offing for woods, fields, open spaces near the property.

To find out more, read our valuable online report, FIRST TIME: How To Buy The Most Home For Your Money, by clicking here. You may also be interested in, NEGOTIATE: How To Buy The House You Love At The Price You Want. Clich the link to read it at no obligation. And be sure to give us a call if you have any questions.

http://www.LonReed.com
http://www.OneCallHomeRescue.com
http://www.OneCallCreditRescue.com
http://www.PreForeclosureSolutions.com
http://www.CTXEnterprises.com

• "Getting The Word Out?"
  
• "Foreclosure Trouble Can Attract Con-Artist Scams"
  
• "Selling Incentives That Won't Cost You A Dime"
  
• "Study Shows Price Pressure On Low-Cost
  Rental Housing"

Best regards,

Lon Reed

ePro Certified Realtor®
Certified Loss Mitigation Consultant
Certified Credit Consultant
Short Sale/Foreclosure Specialist
San Antonio, TX 78258
800-693-9811 Toll Free
800-362-2949 Toll Free 24/7

http://www.LonReed.com
http://www.OneCallHomeRescue.com
http://www.OneCallCreditRescue.com
http://www.OneCallCreditRescue.net
http://www.aRealEstateSolutionsCompany.com

http://www.CTXEnterprises.com

It's best, where possible, to put your home on the market early enough so that you won't be caught in a two-mortgage situation. That way, should you sell your old home before you locate a new one, you can:

• Ask your buyer to settle on a mutually-convenient closing date that allows you more house-hunting time.
  
• If an earlier closing date is unavoidable, you might be able to sell, then rent your home back from your buyer until you find a new home.
  
• If your buyer must move in before you find a new home, you can rent a home in the area where you're house-hunting.

If, on the other hand, you must buy a new home before you've sold the old one, one of these interim methods may tide you over:

• If the seller of the home you want to buy agrees, you might be able to make your purchase contingent on selling your old home within a specified time. Under these not-ideal circumstances, the seller may agree only if the home can be kept on the market while waiting for you to sell yours. If the seller receives another offer during this waiting period, you may be given the opportunity to meet the new offer or bow out.
  
• If you have a purchase contract on your old home, but the closing date is some time off, you might take out a bridge (or swing) loan, using the equity in your old (and also, sometimes, in your new) home as collateral.
  
• If you have accepted a transfer offered by your employer, you may receive programmed relocation assistance, which will probably cover a portion of the costs of selling your old home and buying a new one (including a bridge loan of some sort). Your company may engage a third-party relocation management company to sell your old home.If, however, your company has no relocation program, it may still assist you with the financial aspects of your move.
  

Need more information on pricing your home to sell? Read our FREE online report,
PRICING: Beat Your Competition To The Contract. There's absolutely no obligation.

http://www.LonReed.com
http://www.OneCallHomeRescue.com
http://www.OneCallCreditRescue.com
http://www.OneCallCreditRescue.net
http://www.aRealEstateSolutionsCompany.com

http://www.CTXEnterprises.com