Author Archive: Kathryn Mellon

About Kathryn Mellon

Real Estate and Mortgage news writer.

Atlanta Personal Injury Lawyer Gives Advice

It is important to understand when you need an attorney so that you can get the appropriate help at the right time. In too many cases valuable evidence is literally slipping away because clients are spending too much time debating whether they should hire legal representation or try and go at it alone in the courts to save money. The little amount of money that you save could be nothing compared to the huge money you lose in a possible settlement or in negotiations with your insurance company if you to not proper representation from an Atlanta personal injury lawyer.

Atlanta Personal Injury LawyersInjury as a Result of Another Party
If you have been injured at the hands of someone else, it is extremely important that you hire an attorney sooner than later. Your lawyer has extensive experience in dealing with injury cases that are a result of dog bites, medical malpractice, slip & falls, motorcycle accidents, automobile accidents, nursing home neglect, or workers compensation cases. These cases are unique in themselves, but they all require a professional who can understand the complex nature of the case and put together a rock-solid case that will help the courts quickly rule in your favor concerning a settlement. For more information visit: http://atlantaattorneygroup.com/atlanta-personal-injury-lawyer/

Accessing Information the Courts Need
If you have a case that is eventually going to go to trial, you need to begin putting together all the pieces of your case immediately because that evidence is disappearing every hour. Your attorney has the resources to not only gather that information quickly, they will make sure all eyewitnesses are spoken with at length, any evidence either from the police or other sources is provided, and new evidence will be gathered by a team of professional investigators. Time is not on your side when it comes to gathering evidence to support your case, so you want to hire a professional to help you to prove your point.

Reasons to Hire Your Attorney
Not only is your lawyer helpful in putting together settlement claims for injury cases, they are experienced at helping you in court to fight for your freedom in DUI cases, help with family law issues like divorce and child custody, and also keep you in your home in the event your home is being foreclosed on. To better understand when you need an attorney, simply ask yourself how much of a chance that you think you really have against a seasoned prosecuting team and a judge with little patience in his courtroom for games.

Best Places to Find a Greenville Law Firm

When you are involved in a dispute that involves the services of an attorney, time is ticking and you need to get representation as soon as possible. This can be a challenging time for many people as they quickly get overwhelmed with the volume of different lawyers available in their particular location. The best place to find attorneys varies for each person, but if you know where to look and how to look, you can narrow down your search quickly and find a lawyer that is perfect for your specific case.  “Best Places to Find a Greenville Law Firm” that I have discovered is: http://greenvilleattorneygroup.com/about-us/

Start With Your Local Community
Chances are if you have a local Chamber of Commerce, local lawyers are registered and love to interact with other local businesses to acquire customers. Simply find a copy of the listing for local businesses and you will have a short list of all the lawyers practicing within your city. These lawyers are respected in the community, and you do have the ability to inquire further about their services of follow-up with some research on your own. Now that you have narrowed down the list of lawyers, look at any awards they have won, and start your research from there.

Local Internet Search for Lawyers
Hit the internet and start your search for a specific lawyer you are looking for. If you have been involved in an automobile accident and sustained injuries, start your search for a local personal injury lawyer. If you are currently in a heated battle with your partner and are looking to keep your children, then you want to search for a local family law attorney. Be as specific as you can while you are looking for a lawyer, they specialize in personal injury, DUI cases, home foreclosures, family law, and medical malpractice. The more specific you are while doing your search, the more detailed the results will be and the less law firm results you will find.

YouTube

YouTube is the second largest search engine and you can find tons of information for example:

Word of Mouth Advertising
The best place to find attorneys quickly is to simply spend the day asking those in your inner circle. Chances are someone has used a lawyer recently and has some feedback on the experience. You do not have to jump and go with that specific attorney, it is a good jumping off point however to get you started with your search. Once you have a decent list and see that the same lawyer keeps popping up, chances are this might be the best place for you to start your research.

When Do You Need a Personal Injury Attorney?

Charleston Personal Injury LawyersIf you have recently gone through a major injury that has changed your whole life then you should think about hiring an injury lawyer. If the injury is due to some accident that is caused by another individual or due to some kind of accidents at the workplace then it is good for the individuals to think about hiring a lawyer who is specialized in the niche of injury laws so that you can easily handle the case and make maximum benefit out of that. Here are the major benefits that the individuals can reap with service of Charleston personal injury lawyers.

Understand the Value of the Claim

Many of the individuals have no idea about the amount that they may get for the claim made of personal injury. There are chances for you to make use of some of the tools that are available for calculating and finding out the approximate figure of the amount that you may get for the claims. This can go wrong in many cases and if the individuals need a good calculation about the amount of money that they get for the claim made then it is necessary for getting the help of an injury lawyer.

Understanding Legal Process

If you are someone with a profession which has nothing to do with laws then it can be really hard for you to really understand the legal phase of the case ad knowing the way to deal with that. It can be hard for you to handle personally the way for litigating the claim. There are chances for you to get so much confused about the kind of the legal document that you need to file. Having a injury lawyer hired can make it much easier for dealing with all these legal sides of the case.

Improving the Odds

If you want the case that you have filed in the court for the compensation that you want to receive for the injury to get the best results then you should know the laws and should be able to move forward well with the case. Hiring an injury lawyer is like getting the individual who is proficient in law by your side which can really improve the odds against you and help you in making the case get better results for you and get the compensation that you wanted.

Lawyer can be Motivated for Helping You

There are many of the injury lawyer in the court who are motivated for helping you. These lawyers usually may not be able to choose the best way for helping you. This is something really much beneficial for you as you need to pay them only when you get compensation. These lawyers may be someone who may have experience in working with the insurance company. There are chances for the individuals to easily get through the case when they hire such lawyers. It is necessary for paying them a percentage of the compensation that you get.

Top 10 Steps to Follow When Buying Your First Home

Buying a first home can be one of the most exciting moments in your life. However, investing in such a large purchase can seem daunting. With a little research, however, it’s possible to make the home buying process as stress-less and worry-free as possible. Thinking about buying your first home? Check out the list below. It contains 10 helpful steps that can guide you through a financially feasible and minimally stressful buying process.

  1. Prepare financially.realestate-happymove-in

The first step to buying a home is ensuring that your finances are in order. Before you buy a house, it’s important to be out of debt and have some savings set aside for emergencies. Living in your own home can be more expensive than renting. As a homeowner, you’ll be responsible for all maintenance and repair costs, so make sure you’re in a good financial position before you start looking for a new home. You’ll also want to make sure you have a good credit score in order to obtain a mortgage.

  1. Analyze Your Assets.

Analyze your assets to ensure that you can afford a home. The total cost of your housing, which includes principal, interest, taxes and insurance, should never be more than 28% of your income if you want to qualify for a mortgage.

  1. Get pre-approved by a lender.

Most people who purchase a first home need a mortgage. Even before you start looking, obtain pre-approval from a lender to help finance your purchase. Once you’re working with a lender, you can decide on an affordable price range and can approach sellers with proof that financing is already in order. Lenders can help you understand how much money you’ll need for a down payment, the amount of your closing costs and the amount of the monthly mortgage payment you can afford. Here in South Carolina a good place to start on your application: Charleston Mortgage Place – http://charlestonmortgageplace.com

  1. Start your home search.

Once you’re pre-approved for a loan, find a trusted realtor to help you with your housing search. You’ll want to work with him or her to set a budget and make a pros and cons list that describes the things you want and don’t want in your new home. Carefully evaluate homes to find a place that feels right and fits your needs.

  1. Do your research.

Once you find properties that you like in your price range, do some research about their history, owners and builders. Make sure that you’re purchasing a property that is well-constructed and has not had any serious issues, such as meth manufacturing, mold or pests.

  1. Make an Offer.

Once you’ve found the perfect place, make an offer on the home. Do some research about the prices of similar homes in the area to ensure that your offer is competitive and realistic. Also, find out why the homeowner is selling the property. If the owners need to get the home off their hands quickly, this may shape the offer you make on the home.

  1. Complete the sale.

In order to make the sale binding and legal, make sure the seller signs the offer. Once it’s signed, the offer works as a sales contract and is a legal declaration that the home is yours.

  1. Get a Mortgage.

You’ll need to apply for a mortgage to finance your new home. Fill out all of the paperwork your lender gives you, then wait for approval. A lender will complete an appraisal of the home and verify bank deposits and insurance needs.

  1. Have the Home Inspected

Hire a professional home inspector to thoroughly examine the property and report on its condition. Home inspectors can spot health hazards or potential problems. You’ll want to make sure that there aren’t problems like mold, pests, termites, air quality issues and more.

  1. Close the Deal

Once the condition of the home is verified as safe and healthy, and your mortgage has been approved, it’s time to close the deal on your home. Make sure you have a photo ID and enough money for the down payment, and verify the payment method with the sellers or their closing attorney. Once you’ve closed on the property, it’s time to move in, so consider arranging for a moving service to transport your belongings to your new home.

What Are The Different Types Of Home Mortgages?

understanding-mortgagesFinancing a home with a mortgage is a very important financial decision. Failing to select a mortgage that is adapted to your budget and needs could result in outstanding debt. Start by learning more in the different types of mortgages available to determine which one is best for you. Fixed-rate mortgages are a popular option because assessing their impact on your finances is fairly easy. The interest rate will remain the same over the duration of the mortgage. Depending on the cost of the home you wish to finance, you could make payments during 15, 20 or even 30 years. A fixed-rate mortgage is an excellent option if current rates are low. The downside to fixed-rate mortgages is that you could end up paying an interest rate well above the market if interest rates drop after you apply for your mortgage.

An adjustable-rate mortgage, also known as a variable-rate mortgage is a more interesting option if interest rates remain low throughout the duration of your mortgage. With this type of mortgage, interest rates are recalculated on a regular basis to match current rates on the market. This type of mortgage is interesting because the initial rate is usually lower than the market. However, rates will fluctuate over the years and can increase. (more…)

The Key to Getting the Best Deal in a Mortgage

Purchasing a home is a big and significant financial commitment. However significant this commitment is, finding the best and right mortgage can be frustrating as well, especially for first-time buyers. But there is one key solution to this dilemma and that is comparison shopping. It is important to speak to Columbia mortgage brokers, if not to lenders, during the process. Are there other factors to consider in evaluating your mortgage options?

What’s Better, Getting an Adjustable or Fixed Rate?

When it comes to Columbia SC mortgages, there are two primary options you can use. These are fixed and adjustable rate. The first option features a locked interest rate that homeowners are supposed to pay for the duration of the loan. In simple terms, the payment for both the principal and the interest remains constant. But this does not mean that taxes, insurance along with the other costs may not fluctuate.

In adjustable rate option, the interest to be paid fluctuates throughout the loan’s duration. It comes with an initial term period, which takes about 1 to 10 years. In this period, the rate remains constant. But it begins fluctuating after this period passes. Even with this issue, there are still many people who are attracted to use it because of the low initial rate it is known for. In the end, however, it is still best to think about the fluctuating factor and take at it on a long-term basis to make a more informed decision.

Do You Need to Pay for Points?

Point is defined as the upfront fee, which is 1% of the mortgage’s total amount. Point payment is done to lower the current interest rate and get a fixed amount. For instance, you can pay the amount of $2,000 for your $200,000 home loan with a 4.25% interest rate to lower your current rate to 4.125%. Paying for the point can be beneficial for those who are planning to keep the home loam for a long term. But it is not a good option if you are only planning to live in the house for below 7 years since the upfront costs will only outweigh the interest rate.

  • How Much Should You Pay for the Closing Costs?

The amount of closing cost often represents 3% of your home’s purchase price. This cost is being paid at the closing or as the as the house purchase is finalized.

The cost for closing is composed of a range of fees, which are being charged by the lenders. The range of fees include appraisal costs, title insurance fees, processing and underwriting charges and more. If you are interested to further lower the closing costs, you have to know which from the good-faith estimate list of fees you can shop around for. More info on closing costs: http://en.wikipedia.org/wiki/Closing_costs

Want to know more how you can get the best mortgage and save from the option you use? Go to Columbia Mortgage Place to find skilled, experienced and compassionate Columbia mortgage brokers who can help you find one suited to your needs.

Some Things Not to Do Before Applying for a Mortgage

Home Mortgages - cash houseEveryone is telling you these days how hard it is to get a mortgage on any type real estate. But, did you know there are some things that you can do to make it even more difficult to meet the qualifications. New regulations force loan specialists to check each part of a borrower’s budgetary foundation, before making the credit approval for a new mortgage loan. Also, most banks have tightened their qualification criteria because of misfortunes that they probably caused with more lax lending practices that lead to the housing meltdown. It’s more like a swing form one side to the other; lax loan approval in the past – difficult loan approval now!

So, at least take some advice here and abstain from doing anything that may hurt your possibilities of getting that shiny new home. Here are a few things specifically you ought avoid before going in to start your application for that mortgage:

Don’t take on new loans you don’t have to!

This may seem obvious but wait on that new car, tv or whatever. These loans build on your total obligations and these are considered. Auto loans are real killers on the budget and may keep you from qualifying for the home you really want.

The loan specialist or mortgage broker is going to add up all your current monthly obligations that you have right now. These monthly obligations are going to be looked at against your monthly salary and a Debt To Earnings or Income ratio (DTE- DTI) is determined.

You want to do the exact opposite thing and try to pay off anything that might have just a few payments left on it to give you the maximum impact of lowering this score. This way you do not need to list them on your application and that is a real benefit to the ratio. Your Debt Ratio, as it is also sometimes called, needs to be as low as you can make it before you apply for that loan. So put off those new consumer loans until after you get moved in.

 

Don’t blow the savings account!

Down payments requirements are going up. And, savings accounts are going down all across America. Don’t fall into this trap. Wait on the fancy vacation. Stay away from eating out at the expensive restaurants. Keep yourself focused on having as much cash in the bank when you go to apply for the loan as possible. Unless you are able to take out VA loan ( or USDA) which can offer up to 100% financing of the purchase price of a home, you may need as much as 20% down to acquire good financing terms. And most lender will take on the need for Private Mortgage Insurance it you loan amount drops below that 20/80 rule. Plus the more you put down typically the better the interest rate offer. So hang on to that cash!!!

Hide the credit cards!

This one should seem obvious, but many families pile on debt with credit cards thinking that they are building their credit only to get trapped into a turn down because they now have too much credit card debt to secure that needed financing for their new home.   The credit card debt as discussed earlier is going to be added into your debt ratios and this can be a killer for the deal and getting any mortgage at all. Also, credit card debt obligation stands out as a real negative with loan under writers. A history of high credit card debt can make you look less attractive in the loan approval process and cause you to look like a more dangerous risk to the lender.  High credit card debt is one of the key things that can drive down your FICO credit score also. For the best rate and terms – hide those credit card and put a smile on your mortgage banker face when he fills out the loan application.

I love this video about budgeting from Making Life Simple. It you are having some trouble qualifying for a new home mortgage, or just starting to look for that “home for sale”  or you are a first time home buyer check it out:

Keep all your payments current, not even a little late!

Missing payments even on small things can drive down your FICO credit score. A high score is letting the bank know that you are less of a danger when it comes to paying back the loan. It may not seem like much to be a little slow on paying a small payment now and again but this is going to drive down your credit score. Before applying for that new mortgage, make sure you are very prompt with all payments the last thing you need at application time is going to be a slow pay currently showing on that credit report.

Do everything you can to make sure that payments are made before due dates and allow enough time for mail and posting. We live in a high paced electronic world where your payment obligations can get posted minutes before you apply. So don’t risk that surprise when you go to your new mortgage loan. Stay the course and keeping that FICO score up. Being current on all your obligations and paying them in a timely manner is the biggest factor in doing that!

Your installment payment history represents 35% of your general score – more than any other single component. One lone late payment can drop your score significantly. I once had a 15 dollar charge that I forgot about from a retail store credit card keep me from obtaining a loan. It took me almost a year to get my score back up from just that small indiscretion.

In closing keep in mind that you’ll have additional closing expenses that will eat up your cash and your lender is going to expect you to have some reserve for this also. He/she is not going to risk that you run up credit card debt after closing because you don’t have enough of that cold hard cash.

For some more helpful information, first time home owners expecially should visit The HUD.gov website. Here is a link a useful PDF: http://www.hud.gov/news/homeeconomics.pdf

 

Myrtle Beach Mortgages – Getting the Best Mortgage Loan for Your Need and Budget

Deciding which home mortgage loan is appropriate for a certain homeowner is essential. He must first know those various types of home mortgages because he can have a clear mind to decide which one of them is the most sufficient for their need as well as for their budget. If you want to know the different types of home mortgages to choose from, read on below.

  • Balloon Mortgage. This is a short term kind of loan that has some risks for the borrower. This can aid to get a mortgage loan but it should be financed into a more stable or reliable payment product as soon as you become financially feasible. So before you decide to get this, you must think about it several times for now. For instance, this product can be great if you are planning to live in your home in a span of 3-4 years.
  • Sub-Prime Mortgage. Despite the rap that this kind of loan is somewhat outdated, still the market for this type of mortgage loan is still viable and active. This kind of loan is not backed up by the government that is why this regulates stricter approval of requirements.
  • Fixed Rate Mortgage. This is the type of loan wherein the interest rate is kept fixed over the term of the loan.
  • Variable Rate Mortgage. The interest fluctuates over the term of the loan. Home buyers for the first time may take risk in this type of loan for qualification purposes, but this must be refinanced to a fixed rate as soon as possible.
  • Adjustable Rate Mortgage. It is a loan that refers to having a fluctuating interest rate.
  • Refinance Mortgage. It’s a popular type of loan that can help you elevate your disposable income monthly. But take note that you must only refinance when you are searching for a mortgage with a lower interest rate. The loan process for mortgage refinancing is faster and easier when you received the initial loan to buy for chosen home. Because closing points and costs are gathered every time a mortgage loan is closed, generally, it is not advisable to frequently refinance. But if you stay inform about the interest rates and when you see the interesting enough, then act fast to lock the rate.

If you are wondering which agency offer different options where you can choose from to get the best mortgage loan for your need and budget, you won’t go wrong with Myrtle Beach Mortgage Place. This mortgage loan agency offers different loans which their Myrtle Beach Mortgage Brokers can amicably explain and elaborate all to you. These brokers are free for consultation, so no matter how many your questions about mortgage loans are, they can patiently give you the best answers. To know more about the mortgage loan services of Myrtle Beach, you may visit http://MyrtleBeachMortgagePlace.com/.  Moreover, give them a call today to conserve about their services and rates. For sure, once you get to know them, you will be enlightened and instantly opt for them.

Six Mortgage Types For Home Buyers: Which Is Best For You?

understanding-mortgagesFrom the outside, real estate looks somewhat like a game, with players like Donald Trump throwing weight and cash around, accumulating all kinds of lucrative properties. For the rest of us, buying a home is actually an intimidating process. If you are looking for houses for sale Charleston SC,  Premier one has the experience to make the process less intimidating.

Here are six types of mortgages and how they may work for you as a borrower, in simple and realistic terms.

1. The Fixed Rate

The terms of a fixed rate mortgage are relatively self-explanatory; your interest rate will remain constant throughout the life of the loan. If you can negotiate a reasonable rate, payments should be easily digestible, and you have the benefit of never being surprised by market fluctuations. However, should rates tank, you’ll be green with envy with what other people are then paying.

2. An Adjustable

While the adjustable rate loan frequently offers lower initial terms, over the years you may see significantly higher interest, according to the rise and fall of interest rates in the open market. An adjustable is somewhat of a gamble, but most lenders will make it worth your while in the beginning, setting you up with something you can afford, along with fairly reasonable expectations for the future. When interest rates fall, you’ll be very satisfied with this type of loan.

3. Interest Only

Although an interest only loan may sound simple enough, since the terms change over time, you really need to investigate every aspect of this type of arrangements. Generally, you are responsible for paying just the interest for an agreed upon period of months, then you’ll be expected to pay the entire loan in full, at much higher rates or perhaps to refinance the money completely. Finagle this one carefully and according to your ability to repay, and it might be very convenient for you.

4. Reverse Mortgage

Reverse mortgages have unfortunately received bad press on occasion, but understand that such reporting is due to a few lenders behind the story. A Federally insured reverse mortgage obtained under the right circumstances means as senior, your home becomes a fountain of equity which you don’t repay provided you remain in the home. If you sell, pass away or decide on some other place as a primary residence, you become obligated to the repayment terms immediately.

5. A Home Loan For Veterans

Veterans rightly deserve a break when it comes to buying a home, and if you served in the United States Armed Services, are currently active duty or the surviving spouse of a service person, consider a home loan for veterans. Terms are generally quite agreeable, however, the amount you may be eligible to finance could be limited. Talk to a mortgage lender to find out what your best options are if you can’t obtain full financing as a veteran.

6. Federal Assistance Mortgages

The Federal Housing Administration may have what you’re looking for in a home mortgage, provided you aren’t trying to buy a mansion. Most people find relief from hefty down payments with an FHA deal, because their terms are more lenient than those offered on the open markets. Good credit is still required, though, and while you’re not held to any minimum income requirements, your debt-to-income ratio is strongly considered during the qualification process. Note also that the FHA offers different types of mortgages itself, with the fixed rate being the most popular among first time home buyers. For more on the different type of government loan programs: http://www.usa.gov/shopping/realestate/mortgages/mortgages.shtml#Shop_for_a_Loan

When a mortgage is broken down into language we can all understand, parting with more than a hundred or so thousand dollars for a few decades isn’t so intimidating. Find a good mortgage lender who makes you feel at ease, and discuss the possibilities. The home of your dreams may be a lot closer than you think.

Understanding The Trends In Mortgage Rates

Anyone who has ever bought a house knows how important the mortgage rate can be in guiding their decision making. High interest rates can dissuade people from deciding to buy, and when rates fall, many people rush into the market. If you are looking at homes in the Charleston area, it is therefore important for you to pay attention to the trends in mortgage rates.

When looking for Charleston SC real estate, there are, of course, three basic ways rates can behave. They can go up, they can go down, or they can stay the same. Obviously this may seem simple, but this apparent simplicity can mask a great deal of complexity that you need to account for in your decision making. Ignoring this complexity can end up costing you a lot more than you need to spend.

For example, you might think that when rates are going up, this is a time to avoid buying a house. However, what you need to remember is that many other people will be feeling the same way. Fewer people will be interested in purchasing a home, which means that demand will drop.

As demand drops, basic economics tells you that prices will also fall. In such a case, this may actually be a good time to start looking for a home, even though interest rates are higher than they used to be. The savings from the reduction in price may actually offset the additional interest that you will have to pay due to the rise in rates.

Conversely, just because interest rates are falling does not mean that you should rush out and start looking for a house to buy. As interest rates fall, more buyers enter the market, which means that demand goes up. Increasing demand means that there is now a seller’s market, which means that prices will rise.

The savings from the lower interest rates may not offset the increased prices that you will have to pay. Just as rising interest rates may actually be a sign that it is time to buy, falling interest rates can indicate that you should be hesitant about leaping into the market.

When interest rates are flat, on the other hand, you will have to take other factors into consideration. If rates are generally stable, this means that the decision to buy will be governed by other factors, such as the general supply of homes. Whether or not it is a good time to look for a house will depend upon these factors, as well as on your personal financial situation.

While interest rates are important in the home buying process, they are not the only factor that you need to take into consideration. It is never a good idea to base your decision solely on interest rates. They can play a major role, but they should not be your sole consideration.

When you are looking for a home in the Charleston area, pay attention to the mortgage rates. Keep an eye out for the best rate so that you can save as much money as possible on the deal.