Author: Anita Hummel
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Landlord Rights And Responsibilities In The United States
Being a landlord involves balancing rights and responsibilities that ensure the proper management of rental properties and the fair treatment of tenants. Understanding these rights and responsibilities is crucial for maintaining a successful landlord-tenant relationship and complying with legal requirements. In this comprehensive guide, we will define what a landlord is, outline 15 fundamental rights…
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Basics of Market Economies Explained
Most people may not realize it, but we live in a market economy. Even countries that are considered socialist or communist have a kind of market economy. A market economy is a system where economic decisions and the pricing of goods and services are guided by the interactions of a country’s citizens and businesses. Unlike…
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Zombie Mortgages and How to Protect Yourself
There’s been increasing discussion about a term known as “Zombie Mortgage.” Many homeowners have found themselves unexpectedly dealing with this type of mortgage. A zombie mortgage usually happens with a second mortgage. It occurs when a homeowner believes their second mortgage has been forgiven or forgotten, but it still exists. These mortgages, metaphorically rising from…
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Understanding Mortgages: What They Are and Why They Matter
When buying a house, most people will put down a down payment and then pay off the remaining balance through a mortgage. However, many may not realize that, over time, they pay more than the home’s actual value due to interest. It’s interesting how few people fully understand mortgages, even though they have one on…
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Understanding Fixed-Rate and Adjustable-Rate Mortgages
Two primary mortgage types are often considered when considering home financing options: fixed-rate mortgages and adjustable-rate mortgages (ARMs). Each mortgage type offers distinct advantages and potential drawbacks, depending on the borrower’s financial situation, market conditions, and long-term plans. This blog post will delve into the details of fixed-rate mortgages and ARMs, providing a comprehensive overview…
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What Banks and Mortgage Companies Look for When Approving a Mortgage
Securing a mortgage is a significant financial commitment and a critical step towards homeownership. Not everyone who applies for a mortgage gets approved. Banks and mortgage companies have stringent criteria to ensure borrowers can manage their mortgage payments over time. We will delve into the key factors lenders consider during the mortgage approval process and…