Rent Back : Get Cash and Retain your Residence as Well

Rent back is a feasible way to raise cash during times of financial crunch. When you need money in a jiffy, you can sell your property and then rent it back. This way you get hold of a large amount of cash and also retain residence of your house. This scheme is thus useful when you need to get big cash at quick notice but do not want to vacate your house either.

Rent back scheme helps you when you need to settle your debts, and as such in dire situations such as in the face of threat of repossession. Selling your house can be the immediate solution to ward off this threat. The good thing is despite selling off your house, you can still keep it. You can release the equity in your house which otherwise remains tied up in your property. In any case, if you are going through a rough patch in your life, such as divorce proceedings which is not only emotionally taxing, but also an expensive proposition, this scheme helps you get through it. You can sell your half of the property and then rent it back, if it suits you.

Rent back also proves to be very useful when you plan to emigrate. You can sell your house to gain time to sell your house at a good price and also to help yourself monetarily to make your preparations for the emigration, while you can simply rent back the house, before you move out.

Whenever you plan to avail to the Rent Back scheme, you can contact a real estate agent who can help you out with their experience. Many of these real estate agents have good websites, and this means you can apply for this scheme online, which means the process would be quicker and easier.

Author: Derrick Adolfo

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Hines Set to Develop First Indian Project

Hines has formed a joint venture with DLF Ltd. to develop the real estate company's first project in India.

The Houston real estate firm opened an office in India earlier this year and named Daniel MacEachron as managing director of Hines India Real Estate Pvt. Ltd., said George Lancaster, a spokesperson for Hines. MacEachron had previously worked in Hines' San Francisco office.

"Since the opening of the office we have been looking for the right project," Lancaster added.

The companies will be working on a 15-acre site near DLF's residential community along Golf Course Road in Gurgaon, India, a southwest suburb of New Delhi.

DLF is India's largest real estate company.

The venture has selected New York City architecture firm Robert A.M. Stern Architects to develop a master plan for the entire site as well as design the first phase of the complex -- a 30-story office tower of 860,800 square feet with ground-floor retail space and a garage.

Hines and Stern have previously collaborated on several projects in the United States, Mexico and Brazil.

"The standards are coming up in India which is another reason this is an exciting project," Lancaster said. "DLF appreciated the design that Robert Stern came up with, and we think this will be a jewel in that part of India."

Hines also said the plan ultimately may include high-end retail shops, restaurants and entertainment venues, a hotel and landscaped exterior and interior public spaces, as well as serviced apartments and a second office tower.

The total mixed-use complex is envisioned to include about 2.5 million square feet.

Source: IndiaRealEstateblog


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Equity Release : Saving you Old Age Hardship

Often, many people after the age of retirement fall short of cash to fulfil their daily needs, not to worry since this can be taken care of by the equity release scheme. This scheme is a type of home equity loan, which basically converts your fixed assets like property into liquid cash so that you can use it as you like it. If you have your own property, you can be sure that you do not have to face hardship, in your old age. With your house by your side, you need never fall into a helpless state.

Equity Release gives you the financial assurance till your death. And you can spend your days at ease. Figures in newspapers reports suggests that the demand for this scheme is increasing as more and more older folks are benefitting from it. And as many more people are expected to become aware of this convenient scheme, the transactions should soar further. More and more retired people are going for this financial product in the United Kingdom.

If you avail to this scheme, you will be given a loan amount by the lender and this loan amount is repaid to the lender after your death or in case, you decide to move out of your home. After death, the lender is entitled to the ownership rights of your house, equivalent to what you owe the lender.

The loan amount you get, helps you to live the rest of your life with ease sans financial worries. Other advantages are that if the interest rate on the loan can be negotiated. If the rate in the market falls, the home-owner can also free to ask for lower interest rates. In case, you have doubts about inheritance issues, whether the amount of money you have been sanctioned is matched by what your family is going to inherit, you can seek advice from financial experts.

If you visit the websites of these providers of equity release, you will be able to decide on many schemes that may be suitable to you. You can contact them and their underwriters can help you out with financial advice and also tell you about the terms and conditions applicable on these loans.

Author: Derrick Adolfo

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Make Good on Bad Credit

Though it may look like the new lending rules are excluding first time buyers and people with a less than perfect credit rating from owning a home, look again. What we're seeing now is just a return to tried and true rules when it comes to mortgages. So rather than keeping subprime borrowers out of the market, the new lending rules might just be protecting well-intentioned people from facing foreclosure. Those who use the recent changes as an opportunity to improve their credit before applying for a mortgage may also be on the road to financial freedom.

If your credit rating needs some work, push up your sleeves and get to it! Putting a year's work into improving your overall score will pay off over the lifetime fo your loan.

CHECK THE RECORD

How your credit rating looks to lenders has a lot to do with what kind of interest rate you'll be able to get on your mortgage. So if you're getting ready to buy a home, get access to your credit reports and give yourself time to make any improvements or corrections before you sign your mortgage application.

Your credit rating (or FICO score) is the rating lenders use to determine your interest rate and what kind of risk you are as a borrower. The scores generated by the three reporting agencies may differ slightly and usually range from 340 to 850. The higher your score, the better your rating. Though it's not a hard and fast rule, in general a score above 650 puts you in the "prime" category. You're not just a number however. Your lender will also take other factors like current income and employment history into consideration and weigh these against the type of loan you are seeking.

SCRUB THE RECORD

The first step to cleaning up your credit report is getting copies. In the US the three main credit reporting agencies are: Equifax, Experian, and Transunion. All of these agencies will provide you with your report for a small fee. It's a good idea to get copies of all three, as details on each may differ - and may sometimes be wrong.

If you find errors on any of your reports, contact the creditor in question and ask them to correct the information. If this doesn't resolve the issue, contact the reporting agency. If an account that was past due has been paid off or kept up to date for at least one year, the creditor may agree to delete the reference from the report. Simply write them a letter with your request - it never hurts to ask and they'll often do it.

IMPROVE YOUR RATING

If you have any accounts that are in arrears - bring them up to date! This is just common sense, paying down debt is the quickest way to improve your score. Keep in mind that your credit rating is based on a number of criteria, the most important of these being: your payment history and current debt load. Some other things to keep in mind while you work toward improving your rating:

1. Whenever you can't pay on time, notify your lender and make alternative arrangements with them.

2. If your credit history is a bit colorful, consider building credit by opening a new credit card account and managing it responsibly.

3. Keeping your nose clean for at least a year prior to making a loan application will improve your record and your credit rating.

4. If your situation is serious - see a legitimate, non-profit counselor to help you get things under control.



Author: Scott Baxter

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Sell House Fast and Get Quick Money

If you are a house owner and if you are in a financially dire situation, one quick way to get access to cash is to sell house fast. This move gives you that much-needed cash to fulfil your urgent monetary requirements. However, in the circumstances when the market is more in favour of the buyers, it may not always be easy to make a quick sale of your property.

Yet, there are certain ways which can help you out to make a quick sale of your property. As a rule, the sooner you wish to sell off your property, the lesser time you get to negotiate and thus to push for your asking price. The scope for profit may be reduced. This should not come as a disappointment. One of the most advisable things to do is to avail the services of a real estate agent. There are a few reliable property agents who have helped people out in difficult situations, as and when they needed to sell house fast to get quick cash in hand.

They can prove to be really helpful to look after the dealing part as well, as to see to it that you do not face a loss while making a quick house sale. Once you hire their services, fetching the highest price possible for your property becomes their responsibility, and they can help you here with the correct property evaluation. And you would be able to get sufficient guidance on the legal formalities of http://www.vip-service.co.uk/sell-house-fast-quick-sale.html sell your house in exigent situations. Also, your property stands a chance to get better exposure of prospective buyers through the medium of the agent. This, in fact, can be a crucial time-saver.

You can save further decisive time by searching online for real estate agents who have effective experience in this field. Their expertise in this field should work out fine for you as well.

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Author: Derrick Adolfo


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Sell House Fast and Get Quick Money

If you are a house owner and if you are in a financially dire situation, one quick way to get access to cash is to sell house fast. This move gives you that much-needed cash to fulfil your urgent monetary requirements. However, in the circumstances when the market is more in favour of the buyers, it may not always be easy to make a quick sale of your property.

Yet, there are certain ways which can help you out to make a quick sale of your property. As a rule, the sooner you wish to sell off your property, the lesser time you get to negotiate and thus to push for your asking price. The scope for profit may be reduced. This should not come as a disappointment. One of the most advisable things to do is to avail the services of a real estate agent. There are a few reliable property agents who have helped people out in difficult situations, as and when they needed to sell house fast to get quick cash in hand.

They can prove to be really helpful to look after the dealing part as well, as to see to it that you do not face a loss while making a quick house sale. Once you hire their services, fetching the highest price possible for your property becomes their responsibility, and they can help you here with the correct property evaluation. And you would be able to get sufficient guidance on the legal formalities of http://www.vip-service.co.uk/sell-house-fast-quick-sale.html”\">sell your house in exigent situations. Also, your property stands a chance to get better exposure of prospective buyers through the medium of the agent. This, in fact, can be a crucial time-saver.

You can save further decisive time by searching online for real estate agents who have effective experience in this field. Their expertise in this field should work out fine for you as well.

Author: Derrick Adolfo

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What's a Land Contract?

A land contract, sometimes also called a "contract for deed" and other names, is a contract to sell real estate on payments. It is basic seller financing, in which the seller takes payments from the buyer rather than the buyer borrowing from a mortgage lender to pay cash. Many sellers find that by making it easier for the buyer in this way, they can get a higher price and good interest income.

How is it different from playing bank and putting a mortgage on the property? The primary difference is that the deed is not signed over to the buyer until after the last payment. With a mortgage, you give the buyer the deed and take back a mortgage, which then pledges the property as collateral for the money owed to you. But which is better?

That depends. In theory you have the same security in both cases, since there are clear procedures in the legal system for foreclosing on and taking back the property if the buyer defaults. However, the two types of contracts are sometimes handled in different courts. This can be important. Suppose, for example, that the court system which handles land contracts takes six months to process a foreclosure, but the one that processes mortgage foreclosures is chronically backlogged and takes two years. Do you want a non-paying buyer to live in your home for years?

The opposite to the above could be the case in your area, so ask a good real estate attorney before deciding which way to offer seller financing. Of course, if it takes years in both cases, reconsider the whole plan, especially if you will be relying on the income or taking a small down payment.

The Disadvantages Of Land Contracts

It may feel safer to keep the deed in your name, but that part isn't a real issue. As noted, there are procedures to get the property back in either case, so it's really only important which takes longer. But what if they are taking about the same amount of time? Having sold several properties on land contracts, I now think there may be some disadvantages when compared to taking back a mortgage.

My first lesson about this came a few years back when I was facing a $500 (or larger) fine for some junk cars in the yard of a small rental home. "But I sold the property years ago!" I protested to the township official. That's when I learned that they would hold me responsible for ANYTHING wrong with the property until I transferred the deed to the new owner. I had sold to him on a land contract, and he still had several more years to pay.

I would have marched down there and told the renter living there to get rid of the cars, but I had no right. The new owner was the landlord after all. I called him, called again to remind him, and he called the tenant, who moved the cars just before the fifteen-day deadline.

My most recent lesson came in the mail from the county where we sold our home two years ago. We sold it on a land contract, happy that we got 10% more by doing it this way. Now, however, the buyer hadn't paid the property taxes for a year. Again, a couple phone calls got this resolved, and this could happen if we had sold and taken back a mortgage too, but that wasn't the end of this matter. Just before the buyer paid up, I got a letter from a helpful finance company offering me a loan to pay those "back taxes" that they knew were late. Did the credit reporting companies know? Your guess is as good as mine, but I do know that if the deed were in the buyers name, it definitely wouldn't show on my credit report.

Author: Steve Gillman

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Maintain your Lawn to Sell your Home

There is really something to be said for a well-kept and well-loved lawn. It is easy to tell the difference between a lawn that is well cared for and one that has simply been tended to to sell the home. The difference comes in the quality of the grass itself, something that can only come from special care and handling. A really nice lawn can be a real focal point for a yard in a good way or just as easily a bad way. A lawn that is ill-tended can be full of weeds and moss, discolored and untidy. This never makes for a good impression on buyers as they will be looking for reasons to purchase the home, not reasons to pass it by.

One of the worst things you can do to a lawn it to let it get too dry — when it gets too dry, that green lustre is lost. One must keep the lawn watered throughout the dry season, and this is especially true if you are selling a home, as yellow lawns really don't make great first impressions.

There are a few things that need to be done on a regular basis to ensure the health of your lawn. For starters, it's a good idea to aerate your lawn at the beginning of the summer season. This process gets precious nutrients down under the lawn and allows moisture into a lawn that is starved for air. Lawns take a beating in the winter, especially in areas where there is snow and a lot of rain. Both of these weather conditions can really have a detrimental effect on a lawn's health.

A nice lawn can be a huge selling point for a home. Not only is it a beautiful aspect of a home, but it sets up the area where your family spends time in the summer having family gatherings, picnics, and where your kids play. The yard is really a social area and the lawn is its floor. You must keep it in as good a shape as you would with an interior floor. Taking the time to keep things like lawns in shape speaks highly of you as a home owner and that is something that buyers will always take note of.

Author: Preston Guyton

Maintain your Lawn to Sell your Home

Elizabethtown KY Real Estate

Buying your First Home - Watch Out!

If you are buying your first home, there are people who will help you get into all types of trouble. Well, mostly it is one type of trouble: financial. Here are some examples.

Watch Out For Real Estate Agents

You might think that real estate agents would love first-time home buyers, since they can influence them and make a sale more easily. In reality, though, many people are very hesitant to make a decision when they buy their first home. It will be the single biggest purchase they have made in their lives, after all, so they want to take their time and see a lot of houses. Meanwhile, the agent just wants a sale.

Don't be pushed to make a fast decision. It may be true that a particular house is "not going to last long," or it may just be something an agent says. Either way, their are other homes, and you need time to get a feel for what is available and at what prices. This education is crucial, and comes primarily from looking at a lot of homes.

The agent is not necessarily looking out for your best interest, by the way. Unless you hired him to represent you, he works for the seller and is even obligated to pass on any relevant comments you make, like "we can go higher on the offer if necessary." Keep quiet, and remember that the agent is a sales person, whose primary concern is to sell something.

Watch Out For Mortgage Lenders

When you are buying you first home, you are also buying your first mortgage loan. Lenders will be so helpful. For example, they will help you afford a loan that is too large by offering you a variable-rate loan with a low teaser rate. Of course they won't help the hundreds of thousands of families that are now facing foreclosure because those payments went up when the teaser rate period was over.

Variable rate, interest only, and even reverse-amortization loans (where you owe more each year) have all been "helpfully" pushed on first-time buyers who are trying to buy more than they can afford. You are told that buying a home is the best thing you can do. Sometimes this is true, but it never is if you can't hold onto that home. If you really can't afford a home, a smaller home with a smaller mortgage loan is better - and if you can't afford that, renting is actually the best thing you can do.

Look at the worst-case scenario when considering a loan. For example, if you are considering a variable rate loan, ask what the payment will be if interest rates go up 5% years later. Will you be able to comfortably afford that? The banker may helpfully point out that the rate is capped at a 2% rise per year, but that just means the day of reckoning is postponed a little. In three years you could be paying almost $6,000 more per year on that $200,000 loan.

Watch Out For Family And Friends

The best intentions of friends and family can get you into trouble. When you are buying your first home you will get advice. Sometimes it will be good advice. Other times it will be a friend trying to get you to move to his neighborhood - the one you can't afford. Family too can push you to buy before you are ready, or spend too much. They don't always know what is best for you, so do your own thinking, buy what YOU need, and buy a home you can afford.

Author: Steve Gillman

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Real Estate Investment for Kids

When planning for kids’ investment, real estate investing is one of the best places for kids’ investment. You need to understand the sooner you invest the more your kid would gain out of it. It is also true that once you investing in kids’ future, their retirement life would be safe and secure. There are two ways in which you can make real estate investing for kids. First, you might teach your kids the worth of money and its role in life. Secondly, the kids themselves are looking for a high quality investment plan. This would be really good as teaching your kids how to plan for investment is a lesson that would have impact for a life time.

Most of the kids become novices when it comes to real estate investment, and their parents also wondering how useful it will be to teach the kids about real estate investment plan. But investing in real estate could be the best way to invest in your kid’s future. You just need to be creative and need to come up with new ideas—the key is work out you saving and investments. But the truth varies; many young once are not interested in investing for pure tactics of it. There interest could lies in their future goal that is what they might love to talked about.

Of all the reasons of real estate investing for kids, one of the most powerful might be to pay college fee for your children. After all, a good education could offer a very useful foundation for success all through a child’s life. For sure, you have learned that saving is a good factor. Let your children recognize that you are investing for kids and their future. Let them know the procedure and the surrender essential to prepare for college. And let them see the consequences periodically.

A second and potentially just as significant goal is to teach your kids about investment as they grow. Budgeting is as well an vital factor as such, as you start giving payment to you kids, you need as well making sure that the kids are interested in saving as well. If your kid is just seven year old then he might be more interested by the idea of saving. But soon it would become a want to spend as they grow. But as the walk down to the trip the investment road, you require to start teaching them about investing as well, which would lead them grow. When kids plan to invest they must as well carry enough funds in to the bank account for the prior investment.

Author: vknarayana

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