Category Archives: Home Ownership

James Asks… My wife and I are thinking about buying a vacation home in the mountains, how much of a down payment would I need?

The amount of money required for a down payment on a second home or a “vacation home,” all depends on whether you plan on using the home as a true vacation property or if you plan on offering it as … Continue reading

Cindy Asks… I am about to have my home appraised for a refinance… Do you have any quick and easy advice that could boost my homes value?

A low appraisal can make the re-financing of your home challenging for sure. My best advice for someone who is about to meet with an appraiser is as follows; Clean, do some quick maintenance and touch-up on what you can. … Continue reading

Dan Asks… I’m a recent college graduate and am thinking about whether I should rent a property or buy my first home… By renting am I just throwing money away?

Let me start off by saying that renting in no way should be viewed as just throwing money away. Every person looking to either rent or buy a home is faced with different circumstances, each of which should play a … Continue reading

Andrew Asks… I want to buy a home but am having trouble saving money for a down payment. Any advice?

Andrew, You are not alone when it comes to finding out that saving money for a down payment is quite challenging. In a recent survey conducted by Trulia, 70% of people said that owning a home is ultimately part of … Continue reading

Justin Asks… I recently lost my job and I’m wondering what the difference is between going through a foreclosure and simply walking away from my home and mailing the keys to the bank?

Justin this is actually a question that I hear more often than I would like to. Please understand that if you choose to simply mail your keys into the bank you are still the owner of that house. Therefore you … Continue reading

Anthony Asks… I had to file a Chapter 7 bankruptcy 2 years ago due to a loss of a job and the inability to pay my mortgage. I got a discharge of my debts in the bankruptcy and the lender foreclosed on my home. What do I need to do to rehabilitate my credit and when can I expect to be able to apply for a new loan?”

Anthony this is a common situation right now. Im sorry you had to go through the experience. The FHA and VA guidelines state that you have to be discharged from a Chapter 7 bankruptcy for 2 years in order to … Continue reading

Wendy Asks… I am buying a house and I am stressed about Moving Day. Any tips or advice?

Wendy, believe it or not moving has been proven to be one of the most stressful events in an individuals’ life!  It ranks up there with public speaking, death and divorce. The craziness of finding a place to live, packing … Continue reading

Crystal Asks… I want to buy a home but dont have any downpayment. Is that possible?

  Yes Crystal – it IS possible.  You may be able to purchase a home with NO money down. You can finance the entire purchase price. However, The only true 0% down payment loan is a VA loan. The VA does … Continue reading

Jimmy Asks… Im preparing to refinance – what documents do I need to provide?

Every situation is a little different but for the most part you will need the following documents: Most Current Two Years Completed Tax Returns Including all Schedules Most Current Two Years W-2 Forms Most Current Two Paystubs Name, Address, Phone … Continue reading

Ron Asks…. Is there down payment assistance to help me buy a house in Aurora?

  Yes there is! Aurora’s Home Ownership Assistance Program (HOAP) is celebrating 45 years of helping homeowners in Aurora! They are dedicated to making homeownership a reality for many families! The Aurora HOAP is a HUD approved counseling agency and … Continue reading