by Tammy Murphy | Apr 12, 2013 | Current Events, Neighbor Chat, Real Estate News, Real Homes to Love
I get emails from a LOT of people…just like many of you. However, I try to take from that rash of emails information that might be important to pass along to others. This is one of those instances:
Effective for all case numbers assigned on or after April 1, 2013 the monthly mortgage insurance premium on FHA 30 year fixed rate loans increased from a factor of 125 basis points to 135 basis points. On a $100,000 purchase with 3.5% down that’s a monthly increase of $7.91. Case numbers are assigned when a property goes into contract. (more…)
by Tammy Murphy | Apr 12, 2013 | Current Events, Neighbor Chat, Real Estate News
New Housing Development to Dramatically Transform Downtown Blocks
An $18 million student housing complex will be built in downtown Dayton at the site of the former Dayton Daily News building and adjacent property, Cox Media Group Ohio announced yesterday afternoon. The complex, which will be located on the corner of Ludlow and Fourth streets, will breathe new life into this portion of the center city while increasing housing options — a key strategy in the Greater Downtown Dayton Plan, a blueprint for the future of our center city. READ FULL ARTICLE HERE
by Tammy Murphy | Apr 10, 2013 | Real Estate News
Here is the Ohio Association of Realtors formal response to this question (which we are often asked…) Now, keep in mind – there is a difference in someone recommending a company because they know the quality of service that is delivered to clients.
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by Tammy Murphy | Apr 8, 2013 | Current Events, Facing Foreclosure, For Rent, Neighbor Chat, Networking, Property Management, Real Estate News, Short Sale
It was truly an honor to be selected for The Marie Kindrick Fair Housing Award at this year’s Miami Valley Fair Housing Wrokshop. I enjoy working with people who are searching for their next “home” whether that would be a rental or purchase; but importantly, I want to help ensure that it is Affordable and What They Want / Need.
So we are often asked many questions – and this post is to provide some of those answers, as well as to provide websites, links and expert advice regarding Fair Housing.
Fair Housing Tips Disabilities
About Fair Housing with Children
Service Animal Policies
MVFHC brochure
Agencies for Fair Housing Issues
Avoid Predatory Loans
Loan Modification Scam Alert
by Tammy Murphy | Apr 8, 2013 | Real Estate News
TIME TO LIST IS NOW &
TIME TO BUY IS EVEN BETTER!!
RealHomesToLove Video Clip
Watch this quick clip and then call Tammy today!
by Tammy Murphy | Apr 4, 2013 | Neighbor Chat, Real Estate News
If you have any questions as to the type of deed you have or are going to receive with a purchase, a TITLE COMPANY is the best resource of information!
- Warranty Deed: With a warranty deed, the owner of a piece of property transfers all of his ownership rights, subject to any limitations that he lists on the deed, to the person he delivers the signed deed to. In addition to transferring the property, the owner also makes a promise that he actually has the title to the property to be able to transfer it. This promise, or warranty, is what makes it a warranty deed.
- Quitclaim Deed: Works like warranty deeds in that they transfer the ownership of property, but that’s all they do. When a seller or transferor signs a quitclaim deed, he gives up whatever rights he might have in the property, but also doesn’t promise that he has any. For this reason, quitclaim deeds are frequently used to remove someone from title, and they’re legally valid. In Ohio, they’re frequently used when property is being gifted.
- Specialty Deeds: Ohio uses other deeds to transfer ownership as well; A survivorship deed is like a grant or quitclaim deed, but is used when multiple unmarried people take ownership together. Under a survivorship deed, when owners die their rights pass to the other owners of the property without having to go through probate; Executor’s deeds are used to transfer properties from the estate of a person that passes away to the heirs; and Sheriff’s deeds are used when a property is sold through a foreclosure.
- Mortgage Deeds: While a mortgage doesn’t directly transfer property, it does give property rights to its holder. Typically, when someone takes out a home loan in Ohio, they will guarantee their performance by giving their lender a mortgage deed. The mortgage actually puts the lender on the title with limitations. If the borrower makes his payments, the lender can’t do anything with the mortgage. If the borrower doesn’t make the payments, the lender can use the mortgage to foreclose and take over ownership of the property.
