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Consumer News and Advice Archive
Opinions vary about which professional to call first. Some say the architect comes first because "you have to design it before you can build it." The architect, who is trained to resolve problems creatively, can help define the project in ways that provide meaningful guidance for the design. The architect ...
They vary depending on the size and scope of your job. General contractors are companies or individuals who contract with you to manage all aspects of the project, including hiring and supervising subcontractors, obtaining building permits, and supplying materials and labor equipment needed to do the project. Specialty contractors, on ...
It depends on the complexity of the project and your ability to do the job well yourself. Really consider whether you have the time, skills, tools, help, and legal knowledge of local regulations to get the job done. While you could save up to an estimated 20% of the project ...
Your personal needs, preferences and finances are all factors. If you've lived in your home awhile and prefer to stay in your school district or neighborhood, improving your existing space may work best for you. If a second bathroom is what you desire, it may also be cheaper to convert ...
They can remain on your credit record for seven to 10 years. ...
It can happen. But a lot will depend on your circumstances and the mortgage interest rate you are willing to pay. Generally, most lenders will consider your request for a home loan two to four years after your foreclosure. Predatory lenders will issue a home mortgage in less time. But ...
Sometimes. But it is a complicated process and a lot will depend on the lender. ...
Talk with your lender immediately. The lender may be able to arrange a repayment plan or the temporary reduction or suspension of your payment, particularly if your income has dropped substantially or expenses have shot up beyond your control. You also may be able to refinance the debt or extend ...
Check with your state. It may provide special protection through the filing of a homestead exemption, which exempts some or all of the value of your equity in the homestead - the home that you live in and the land on which it sits - from claims of unsecured creditors. ...
Unfortunately, it is a pretty bad blemish. A property foreclosure is one of the most damaging events in a borrower's credit record. In terms of the effect on your credit history, a deed in lieu of foreclosure - where you voluntarily "give back" your property to the lender - or ...
It is not easy but certainly doable with both commitment and time. ...
It is all those things that appear on your credit report that are unflattering. They include: missing a credit card payment, defaulting on a previous loan, filing for bankruptcy in the past seven years, or not paying your taxes. ...
Unless your credit is absolutely abysmal - with all kinds of judgements, liens, excessive delinquencies or non-payments, foreclosures and bankruptcies that show no attempt on your part to make progress - you can generally get a loan. ...
Lenders prefer that you do. But relax, you are not penalized in any way for receiving parental help. An estimated one-third of all first-time buyers purchase homes with a loan or a money gift from parents. ...
You get to save thousands of dollars and shave years off the life of your loan because the additional payments made toward your monthly principal basically constitutes a partial prepayment of your mortgage. ...
