Here are a few pros and cons of an HOA.HOA pros: Many HOAs offer stable property values, a sense of community, convenient amenities, and neighborhood safety. HOA cons: The cons of HOA living may include abiding
During a worst case scenario, you start calculating how long you can keep the house before you run out of savings if you lose your job. You also calculate how low the house can go before it no longer makes sense to keep paying the mortgage. During the worst stage of a correction, you...
should you purchase. Some condo associations have been forced intobankruptcyfor unpaid HOA dues. If they fall behind on receiving dues, lenders may also stop offering financing on the units, which
What Happens When a Lien Is Put On Your House? When a creditor attaches a lien against your house, it secures your home as collateral. But at that stage, nothing happens per se. That lienholder simply has a legal claim to force the sale of your home if you fail to pay them as agre...
Owning a home comes with many rights and responsibilities but you may also be part of a homeowners association (HOA) if you own a townhome or condo or are part of a specific community. Being part of these communities can be beneficial because they often take care of some of the nitty-gr...
Wouldn’t it be wonderful if we could hit the rewind button and have a chance to make different choices, especially when it comes to finances? But we know life happens, and there’s definitely no such thing as a rewind button. We don’t always make perfect financial decisions and sometime...
Of particular note: the building elevator is accessed via a security keyfob, and for the penthouse it opens *directly* into the condo like you’re Bruce Effing Wayne. Woo-hoo! The only downsides were the $350K price, and the $250/month HOA dues, both high for Ecuador. But a long...
But what happens if you can’t catch up by paying extra? If you’re earning a regular income, but it’s not enough to pay down your arrears, some lenders agree to modify your loan to avoid foreclosure. Loan modification options vary widely, but the most common include: ...
A homeowners' association (HOA) is usually a not-for-profit organization established by a community that governs rules regarding what can and cannot occur in homes, and also determines the rules and money spent on shared property. Many condominium andtownhousesavailable for purchase are part of ...
2. What happens if a borrower has a DTI of 33% in the first year, but then 55% in the third year? Does he or she lose the loan? 3. Why doesn’t the DTI condition apply throughout the life of the loan? Thank you! Colin RobertsonApril 6, 2016 at 9:56 am ...