Image Source: farm1.static.flickr.com

Looking at a snow-covered vista is perfect for pictures - but could be deadly to your house. It pays to be prepared for winter to avoid nasty surprises at spring time. How ?

• Trim your trees. Unfavorable weather can make overgrown trees and dead branches break and fall which can result to injury or property damage to you or your neighbor.
• Dispose of leaves and other debris from your gutters to prevent the formation of ice dams. Ice when it melts must flow away from your house.

Even if you are not home, people still come to your house like the postman, utility staff and delivery people. Broken stairs or railings may cause accidents, minor though they are, you or your insurance could still end up paying for them, so better have them repaired if they’re broken.

A lot of house buyers, especially first time house buyers are quite shocked to find that giving the downpayment is not the only cash out requirement. Other expenses include application fees, background and credit checks on the borrower and prospective house inspection fee. Some banks, depending on the area, refer to the last three items mentioned as appraisal fee which is non refundable. Another expense is the closing fee which may or may not involve the following: prepaid interest or points, application and appraisal fees, recording and attorney’s fees, survey, title search and insurance, first month’s homeowner’s insurance, transfer taxes. There is also what we call the “operational cost” of owning a house. On top of your monthly amortization on the house itself, you have the basic utilities, property taxes, repairs and maintenance services like garbage disposal, shovelling snow, gardening and landscaping services.

Many buyers are becoming aware of the fact that government seized properties cost so much less than any other houses for sale. But before buying one we need to be aware of some few things .

You must do background research on the property. The best way to do this is to browse online, for helpful sites to assist you.
A little know how in auction means a lot.
If you get the time, you might want to go for an ocular inspection of the property.
Be sure that you know the real value of the house you’re buying. You may ask an appraiser ot help you out.
Plan your finances well and make sure you have money to pay for the monthly amortization.
Be inquisitive. If you feel like something was not answered, speak up. Speak up now while you’re still evaluating the prospective property.

Its true, buying a property is often easier said than done. But knowing a few tricks like these can save you a lot of money and trouble.

This is a loan that senior home owners may take against their current home. You don’t need to pay monthly installment in this type of loan. Instead, the lender will pay for you. You will pay the loan back from your equity when you’ve left the home either by selling it or passing away. Your children can keep your home by paying the loan back with interest if they don’t want to sell it.

The concept of reverse mortgage is confusing to many and very often analogous with the conventional mortgage but they are quite different from each other. A conventional mortgage is a falling-debt and rising-equity transaction. But in the case of reverse mortgages, you will be given money by the lender and you will not make payment. So, it will result in a rising-debt and falling-equity model. This is a perfect