Real Estate Articles Worth Reading
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Real Estate Articles Worth Reading
Scoop.it for Real Estate. See real estate articles worth reading about buying and selling a home from many sources from around the internet including the http://www.maxrealestateexposure.com blog.
Curated by Bill Gassett
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Avoid Paying Private Mortgage Insurance

Avoid Paying Private Mortgage Insurance | Real Estate Articles Worth Reading | Scoop.it
See how to avoid paying private mortgage insurance. There are ways not to pay PMI including putting 20% down, a piggyback loan, getting LPMI and others!
Bill Gassett's insight:

When home buyers set out to purchase their first property they typically will meet with a mortgage broker and get pre-approved for a loan.

 

Excellent mortgage brokers will explain all the costs and fees associated with obtaining a mortgage. One of the things borrowers will quickly here about is what's known as private mortgage insurance or PMI.

 

Private mortgage insurance is a fee lenders charge when a borrower does not put down at least a 20 percent down payment. The fee or insurance as it's known protects the lender in the event of a default.

 

From a buyers standpoint, this is an unnecessary fee that drives up the cost of owning a home. For this reason, buyers will often ask how to avoid paying PMI. Is it possible to avoid paying private mortgage insurance when you don't have a 20 percent down payment? It is sure is possible!

 

In the article, you will see some of the ways home buyers can avoid having to pay private mortgage insurance. Keep in mind it may not make sense to not pay PMI.

 

Each individual borrower should go over their finances in detail with their mortgage broker. A complete analysis should be done to see how paying and not paying private mortgage insurance affects the total cost of the loan.

 

You may find that paying the PMI makes more sense. Also keep in mind that you can get rid of your private mortgage insurance once you have 80 percent equity in your home.

 

Lenders are also required to automatically remove PMI once an owner has 78 percent equity.

 

Take a look and if you find this article helpful, please consider scooping it or sharing to your social networks.

Bill Gassett's comment, December 22, 2016 7:35 PM
Thanks for the scoop @Barry Lieberman
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What You Need To Know About Real Estate Flood Insurance

What You Need To Know About Real Estate Flood Insurance | Real Estate Articles Worth Reading | Scoop.it
The importance of having flood insurance including how the insurance works and why homeowners should invest in it.
Bill Gassett's insight:

When buying or selling a home understand what flood insurance does is important. The regulations surrounding real estate flood insurance have changed a few times over the last year. See all there is to know about flood insurance.

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Will Insurance Take Care of Damages to My Home

Will Insurance Take Care of Damages to My Home | Real Estate Articles Worth Reading | Scoop.it
Does insurance cover winter weather damages? See what most insurance policies cover and don't cover when it comes to damages from winter weather.
Bill Gassett's insight:

One of the questions on the minds of many homeowners around most parts of the country is whether or not insurance will cover them for the havoc this winter has put on them.


Without question this was one of the worst winters on record. Many areas has record amounts of snowfall. Along with the brutal winter came damages to peoples homes. Damage in fact that many had not experienced in years.


Here in Massachusetts it seemed like every storm was dropping at least a foot of snow. With this winter weather came damages to many peoples homes whether it was downed tree limbs or ice dam problems. Many people who had never experienced an ice dam before were getting them.


For those that have never seen an ice dam it can cause major havoc with a home. Not only will it destroy walls, painting and floors it can also cause mold issues behind walls.


Given all of this damage many homeowners were forced to research whether or not their insurance policy would cover damages from winter weather. In most circumstances an insurance policy will cover damage unless there is some form of negligence.


In the article I share a comprehensive view of everything you need to know about insurance coverage for damages around your home.

Bill Gassett's comment, April 8, 2015 7:31 PM
Thanks for sharing @PropertyCluster A tip for you - in order to make your scoop.it page valuable you need to change the title of all posts you share including your own. You should also write a few paragraphs that cover your take on the article. Without doing this all you are providing is duplicate content which has no value.