Would you be willing to bet $300 of your own money that your home is worth what you think it is? Unless you’re ultra-competitive and will bet on pretty much anything, my guess is your answer would be a resounding “No!”
When you go to buy a home, or refinance your existing home, that’s exactly what you’ll be doing in most cases. This is one of the lesser known and most common mortgage ripoffs that occur because people outside the industry don’t know better. Knowing this and other mortgage financing secrets can save you hundreds or even thousands of dollars.
Purchasing a home, unless you’re independently wealthy, involves borrowing the majority of the purchase price from a lender, typically a bank. Before the lender will give you the money, they’re going to want some assurance that the property you’re going to buy is worth at least that much money, and in most cases more. It’s unusual these days to find any lender that will give you 100% of the value of a property. It’s typically 15-20% now. A far cry from the wild and woolly days before the mortgage market crash!
So, let’s say you want to buy a house. You go out and find the perfect house. You and the seller haggle back and forth and settle on a price of $100,000, just to keep the math simple.
Now you go find a lender and ask them to give you a mortgage. They tell you “Okay, we’ll give you $80,000.” You’re okay with that, so you proceed with the mortgage application.
As part of the mortgage application process, the lender will require an appraisal of the property. The appraisal must be done by a certified professional appraiser. The lender isn’t going to take the owner’s word for it!
Typically, the lender schedules the appraiser’s visit. The appraiser calls the property owner and arranges to visit the property. You, the applicant, are required to pay for the appraisal before it can take place. In my area, this fee is generally around $300.
So, you’ve now paid $300 to have the property appraised. If the appraiser agrees that the property is worth at least $100,000, no problem. The application process moves forward.
What if the appraiser says the property is worth less than $100,000?
Ready…?
You don’t get the loan, and, worse, you don’t get your $300 back! You just bet $300 and lost!
Lenders have been doing this for years and it’s become accepted as a way of doing business. People simply suck it up, pay the $300 and hope for the best. In recent years when property values were rising rapidly, this was rarely a problem, unless the seller had ridiculous expectations and the buyer no clue about the real value of the property. Nowadays, however, property values are declining and it’s much less certain that the seller, however well intentioned, really knows the value of their property.
Some reputable mortgage brokers have adopted a policy of paying for the appraisal out of their own pockets. This puts the onus on them to do their homework and have a good knowledge of the current property values in their area. From their perspective, it eliminates the possibility that they would have to call a potential customer and tell them they just blew $300.
The buyer will pay the appraisal fee as part of the normal closing costs, so it’s not like they don’t have the obligation to pay it. With the broker paying the fee first, this eliminates the risk on the part of the buyer and is simply good customer service. Shop around for mortgage lenders and brokers and always ask them who pays the appraisal fee!
This is just one of today’s money secrets that can help you navigate the rubble of the mortgage industry without getting scammed!
“We think fast food is equivalent to pornography, nutritionally speaking. ~Steve Elbert”
Individuals with elevated ldl ( ” bad ” ) cholesterol are now more prevalent than those with good ldl cholesterol readings. We are constantly instructed by our physicians to keep track of our cholestrerol levels readings, with good reason. High cholestrerol levels levels of the bad sort and low cholesterollevels of the good type lead to artery blockages and heart attacks.
Our dietary habits play a big role in keeping bad cholestrerol levels levels under control. In addition to medications which reduce cholesterol, a proper diet to lower cholesterol levels is essential. It can be discouraging to be on constant alert with what we can and cannot eat. We may regard a strict diet as depriving us of the normal enjoyment of eating. This need not be the case. You can enjoy your food, perhaps more than before you got the bad news, with a diet to lower cholestrerol levels.
People of the Mediterranean regions seldom suffer from high cholesterol. You may well ask why. The secret to their good heart health lies in the consumption of heart healthy foods. Olive oil has no ldl ( ” bad ” ) cholesterol and is a mainstay in the fats consumed. Fish, with a high content of the antioxidant Omega-3 fatty acids, also contribute to lowered cholestrerol levels levels.
Fresh garlic is included in the tasty Mediterranean diet in copious amounts. Entrees, salads and whole grain breads slathered with garlic and fresh produce play a major role in a diet to lower cholestrerol levels. Bruschetta, an Italian favorite, is often composed of a garlic, olive and diced tomato mixture spread on the bread. It is a fact that garlic, given a prominent place in the diet to lower ldl cholesterol, is as effective as pharmaceutical medications in reducing bad ldl ( ” bad ” ) cholesterol. Some studies have shown garlic to be even more effective than the pharmaceuticals!
If you must adhere to a diet to lower cholesterol, the Mediterranean menus are certainly no punishment to your palate. The proof in this pudding is that Mediterranean populations rarely have high cholesterol levels and the death rate from heart attack is one of the lowest in the world.
Would you ever imagine that pizza would be an excellent addition to a diet to lower cholesterol? Unlikely, if you are eating a pizza prepared in the American way. A Mediterranean pizza is prepared with olive oil and much lesser amounts of the fatty meats we use. Olives are frequent additions to the Mediterranean style pizza, as are fresh tomatoes and low fat fresh mozzarella cheese.
The Mediterranean diet uses small amounts of fatty meats, instead favoring lean meats such as pancetta and lamb. Meats are used judiciously, more as flavoring than bulk. Pasta dishes emphasize the pasta, drizzled with olive oil and small amounts of meat, vegetables and seasonings for sensational taste appeal.
If you must adhere to a diet to lower cholesterol, take a page from the normal Mediterranean diet and get healthy!
“The greatest delight the fields and woods minister is the suggestion of an occult relation between man and the vegetable. I am not alone and unacknowledged. They nod to me and I to them. ~Ralph Waldo Emerson”
You might also consider red yeast rice extract or guggul extract as a supplement to your current diet. You can consider the benefits and potential side effects if any. Check out this site: red yeast rice extract
Here are some related articles:
-Red Yeast Rice Extract: Effective Natural Remedy For High Cholesterol?
-Guggul Extract: Weight Loss Support
Eating healthy is a balancing act but one that you can be successful in performing!
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People have their motorcycles, boats or household goods delivered worldwide have their pick of different ways of shipment. Nevertheless, the most popular way is overseas roll-on roll-off service.
If you’re sending a yacht, Roll-on roll-off (RO/RO) is the best method for transporting. It gives a risk free and safe way to transport the motorboat and at the same time reducing possibility of accidental damage to the boat when it’s at sea. The boat is driven on the ship onto a deck and then off again whenever it reaches its destination.
International Roll-on Roll-off service is also a very popular way of transporting utilized for pick ups, autos, motor homes or pretty much any kind of cargo. RO/RO comprises of a ship that used to freight the cargo. The inside of the vessel has a deck that looks like a parking garage but could have up to 12 levels and some can contain up to 6,600 cars. This depends on the firm, as some are larger than others are.
Roll-on Roll-off is so common not only because it’s one of the least expensive freight methods but also because it does not require a lot of effort. As the name indicates, the freight is simply rolled onto the ship where it’s secured until it reaches its final port, where it’s rolled off once more and driven to a given holding spot until the owner gets it.
When you’re looking for overseas Ro-Ro service, you may locate many located on the web, which provide you the option of shopping around for the one that not just gives you with the best fee but also the best services. Try and get as many reviews as possible on any companies you’re considering hiring.
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