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8-Step Guide to Close a Mortgage Refinancing

refinancing a mortgage

8-Step Guide to Closing a Mortgage Refinancing Lower interest rates, cash-out opportunities, and debt consolidation are just a few of the compelling reasons to refinance a home. The refinancing closing can be time consuming, however, which is why an experienced real estate attorney like Bruce R. Jacobs can make all the difference. The most important aspect of the refinancing process is to remember that you’re not just tweaking your existing loan—you’re securing an entirely new mortgage. Therefore, the same care and preparation that goes into an initial mortgage closing must also go into the refinancing closing process, because it is just as...

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Did A Lease Amendment Terminate The Tenant’s Option to Buy Real Estate?

binding option to purchase real estate

When does an offer become a binding option to purchase real estate? Under Florida law, a binding option to purchase real estate requires money to support it – otherwise, it is just considered an offer and can be withdrawn or revoked at any time. Case review: Laroche v. Nehama, 979 So. 2d 1021 (Fla. Dist. Ct. App. 2008)   A muddled option agreement  In LaRoche, Claude LaRoche offered to lease his home to Francois Nehama. The lease was a two-year agreement, with a required security deposit and first month’s rent due at the signing. LaRoche offered Nehama the option to purchase the house after the...

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3 Professionals That a First-Time Homebuyer Should Know

First-Time Homebuyers

The Three Professionals That All First-Time Homebuyers Need to Know When it’s time to start seriously searching for a home, the process can sometimes feel overwhelming, making it difficult to know where to start. Having an advocate in your corner can clear away the confusion, but having three on your side can free you from worry and give you the peace of mind you need to make the right decisions.   Choosing the right real estate agent, home inspector, and closing agent is key to owning a house free of any defects, including title defects, defects with the condition of the property and...

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FHA Loans: What All First-Time Homebuyers Need to Do First

FHA loan closings

FHA Loans: What All First-Time Homebuyers Should Know Before Purchasing FHA-insured loans have helped many traditionally high-risk borrowers realize the dream of home ownership, but it’s important to note the Federal Housing Administration (FHA) does not issue mortgages; rather, it insures them. The loans must originate from qualified lenders who have been approved by the FHA. The insurance provided by the federal government lessens the risk for lenders and makes it possible for individuals to purchase a home without making a cost-prohibitive down payment. While the program is designed to provide assistance to help people reach their goal of home ownership, there...

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10 Tips to Keep in Mind When Buying Your First Home

first-time homebuyer

What to Keep in Mind When Buying Your First Home   A checklist of steps to take and information to know before you buy your first home. Before looking at some helpful tips for first-time homebuyers, let’s look at who qualifies. Naturally, people who have never owned a house meet the criteria, but under Federal Housing Administration (FHA) guidelines, which uses the Internal Revenue Service’s definition, a first-time homebuyer is anyone who has not owned a principal property in the past three years. This means even if you have owned multiple homes or have dealt with foreclosure, you can still qualify for many...

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How First-Time Homebuyers Can Get the Most out of HUD

first-time homebuyer

Using HUD as a resource and understanding what the department can and cannot do for you. Choosing to purchase a home is both a complicated and intimidating decision, filled with questions that continue to build throughout the process. This is particularly true for a first-time homebuyer. Where do you go? What do you ask? Why isn’t this easier? It can be a lot to sift through. The good news, however, is that help is available. The federal government has an established resource, The Department of Housing and Urban Development (HUD), which can not only help answer most of your questions, but also...

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