Homeowners Rights During Foreclosure If you are a homeowner who is facing foreclosure, this can be a quite a difficult time for you. Foreclosure can not only affect you, but also your spouse and children. This why it is important to know your rights as someone who is forced to deal with the threat of foreclosure. What you can do in order to save some…

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Most home warranties are not very expensive. Premiums usually cost about $350 to $500 a year. You will have a service call that is anywhere from $35 – $50 per call. Evaluations and Inspections – You may hire a professional Home Inspector to further give you insight as to the condition of the home. Typically, this will take place outside of escrow and the buyer…

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Generally, the buyer pays the fee, unless otherwise negotiated. Loan Discount: Also often called “points” or “discount points,” a loan discount is a one-time charge imposed by the lender or broker to lower the rate at which the lender or broker would otherwise offer the loan to you. Each “point” is equal to one percent of the mortgage amount. The appraisal deadline is the date…

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Buyer gives the lender the name of a home owner’s insurance company. Buyer conducts a walk-through of the property. Buyer schedules a date to transfer the utilities. Home warranties are similar to service contracts and typically last one year. Home warranties do not replace homeowner’s insurance policies; instead they work together and back each other up. For example, your hot water heater burst and there…

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