Category: DC Fawcett Complaints

DC Fawcett Reviews – A look into selling a property before pay off the mortgage

Selling a property before paying off the mortgage is a fairly common concept that involves lot of formal procedures and this article will throw light on it.DC Fawcett Reviews

A real estate property being in mortgage simply means that you still owe cash to your money lender and have failed to satisfy your home loan. It takes a period of 15 to 30 years approximately, to conclude a typical mortgage and home owners regularly sell their homes to move before loans are paid.

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Before selling your home:

Being aware of the outstanding loan balance will help you come up with a selling price, hence if you are planning to sell your home at this state of condition, then it is recommended that you contact your mortgage lender and ask for your current mortgage payoff amount.

Together with this, it is imperative that you review your mortgage loan paperwork and look into the details of it and also for due-on-sale clauses.

Although your lender will want to make certain that your credit is paid in full prior to somebody else moves into the home, their participation in the selling process will be pretty limited to an extent. As long as the buyer can be preapproved for a mortgage loan, there shouldn’t be a trouble.

At the time of Home sale:

Hiring a real estate agent is what you can do, in case if your lender doesn’t set you up with a title company. The mortgage payoff amount, account number should be submitted to your agent, in order to finish this task.

Potential threats:

The home-selling process may go smoothly, but you will have to deal with what it throws at you, for instance, during this case, the lender may charge you a fee for prepaying your mortgage. This being the case, you will have to bear both the fine and your last mortgage bill. With negative equity you will have to find a way out which is another potential setback.

If you owe a lot of money, i.e. more than your actual home worth, then you may not be able to utilize the proceeds from the sale to pay off your mortgage. In this case, you will have to pay off your loan in full or refinance, while postponing the sale.

To market a property before you have paid off your mortgage is a thing you can pull off, again it depends on the situation. Before finding out the potential buyer, you need to ensure that you are up-to-date with your payments.

Together with this, you should also make sure that you can cover up all the costs that go along with selling a home. Being aware of what lies ahead you is said to help, meaning, know your options and the potential pitfalls and decide wisely.

When you are in a doubt, you can always contact your mortgage lender, or a real estate mentor who will help you from the setback.

Hope you found this article helpful, stay tuned to this site to make wise real estate decisions. If you wanted to invest in real estate but perplexed on making decisions, take the guidance of DC Fawcett, a real estate connoisseur who has mastered the art of wholesaling, rehabbing, and cash flow investing in virtual markets.

Assisting people throughout the course of their real estate journey, he will help you become skilled at investing concepts and guide you how to grow through his proprietary Virtual Real Estate investing systems.

Dc Fawcett Reviews on Inherited Property, home ownership, Modular Homes, condos and town homes

Dc Fawcett Real Estate – Benefits of Timber frame in condos and town homesDc-Fawcett-Benefits-of-Timber-frame-in-condos-and-town-homes

Introduction

We have already seen how brick homes are sold and the standard quality maintained all these years when constructing a property.  DC Fawcett Real Estate explains the investors about using a timber frame in the construction of properties in recent times.

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Timber beam homes

Construction time is quick, prefabricated timber frame takes less time than a traditional home built using bricks. Usually, it takes seven to ten days to bring a team of experts specialized in this type of construction to the site. The work can be done only weather conditions are perfect. Extreme weather conditions are not suitable. It is a dry construction process; the moisture has to be stabilized after it is weather tight. The walls are clad used during board containing a dry plaster. The land should be in dry condition. Structural insulated panels are used for air tight construction which makes a home efficient. Vulnerable to pest attacks.

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How timber frame can be used in condos and town homes?

Timber frame influence in real estate is relatively high; it has a significant contribution to properties like steel and brick homes. To sell a home fast, sellers need to construct homes being eco-friendly. Timber frame has insulation capacity and the walls are thin. The timber structure is known for its thermal performance. They prevent moist air. The heat resistant capacity is another exclusive feature which you can highlight while selling the home.

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These timber frames can be used in condominiums and town homes as these homes lack sound-proof quality and privacy is not ensured. To minimize loudness, properties can be constructed using timber beams. Dense materials are used to reduce the sound. The party wall is the separating wall in town homes; the sound can be muted by using timber frames.

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Dc Fawcett Real Estate Reviews About Timber Frames

Advantages of timber frame

  • The timber frame is rot resistant. The cladding is well-protected. Insects cannot attack this cladding, provided moisture content is less than 20 percent. You can prevent from fungi.

  • The properties built using timber frame are fire proof

  • Strong and durable, the properties remain strong for even a century. It can protect from extreme weather conditions and natural calamities.Dc Fawcett Reviews 5

  • Renewable nature
  • For winter, these homes are preferred as the timber frame structure protects from coldness with its moisture content. People frequently turn on and off the heating to maintain the warmth in winter. It gives an aesthetic appearance.

  • Low maintenance
  • Few interior walls are possible.
  • Porches, decks, and patios timber log cabins are designed for outdoor areas to adorn the lawn.

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Cost of timber beam homes

It is considered to be slightly higher than steel and bricks. The design is mostly pre designed. If you want a bespoke design, consult an architect. Customized design is quoted with fixed price. Hire skilled carpenters to do repair work. The cost varies from 150 to 175 dollars per sq.ft.

A basic timber-frame home costs $200-$325 per square foot, $300,000-$650,000 for a 2,000-square-foot home. Home appraisal takes few to several weeks. Approach lenders who have prior experience in handling timber frame condos and town homes; else you become a victim for the scam as many scammers are fooling the first-time home-buyers.

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Where can you find timber beam homes?

Minneapolis is known for timber frame homes. They use age-old methods having an open floor plan, high ceilings and beams are crafted. The cathedral beauty of timber frames can be seen in historic monuments which are still strong after several centuries.

Apart from that, you can use for constructing single-family homes, farm house and resorts near the shore.  The timber frame is preferred by the investors for their second homes or vacation homes. The baby-boomers also love this structural cladding for their retirement homes.

We infer that timber has both advantages and disadvantages through this review. To learn more about cladding, visit DC Fawcett real estate virtual investing club.

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Dc Fawcett Real Estate Tips – 4 ways to sell an inherited property

4 ways to sell an inherited property

Dc Fawcett real estate reviews about the different ways to sell an inherited property, rental benefits and drawbacks of inherited property.

The heirs of the deceased parents get the entire power to own the inherited property and it is his/her wish to either sell or rent or occupy by themselves.

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Owning a rental property is the best way to earn passive income. For investors with different mindset, like absentee landlord can sell off the inherited property and make great deals of money at a time. In case you are renting, you get a steady flow of cash every month. At the same time, you need to be careful about the debts; you cannot sell or rent the property if there are debts to be paid to the mortgage lender. Furnish the house and make all the paper work ready if you are about to sell the house. You need to meet a local attorney and ask how to sell and when to sell and then proceed.

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There are four options if you are selling your inheritance property:

  1.  Auction
  2.  Sell on your own
  3.  Sell to an investor
  4.  Sell with an agent

How to sell off the property through auction?

This is the quickest way to sell off an inherited property,  sellers who want to do quick home sale can prefer this option as you need not spend on repairs and property is sold “as-is”. It is the sellers’ choice to leave or take the belongings and buyers can either use or sell off once they occupy the home.

On the other hand, you have some issues like you need to find an auctioneer, the price can be more or less than you expected.

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Dc Fawcett Real Estate Reviews – :

Selling inherited properties by FSBO

You need not find an agent or pay any commission and all the profit is yours.  If you need to save, you need to work. The seller should shoulder the responsibilities of an agent in this method to do a home sale. The duties, pros and cons are discussed in another article; you can check it out in Dc Fawcett’s virtual real estate investing club.

Selling the property to an investor

You can expect a fair market value price for your property and you need to be ready for home inspection. You can avoid some unnecessary expenses when you deal with an investor as he know which are the expenses to be cut short and avoided. The investor can protect you from  scammers  as he knows about the  real estate scams  that are happening currently.

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Selling the property to a real estate agent

You are under a proper guidance as he knows the entire home buying and selling process. The process will be streamlined and you will have better advertising service and get to know many professionals through him. You can also get potential contacts for future which can be helpful in selling the properties. At the same time, you need to make repairs and pay commission for his service.

Investors complaints about owning an inherited property, in most of the cases there would be mortgage, tax and other insurance to be paid which exceeds the life insurance of the deceased person. Eventually you tend to spend money from your pocket or in other words it starts consuming your savings. In such situations, Dc Fawcett advises his investors to refuse the inheritance power.

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Dc Fawcett Reviews – How to get home ownership if you are disabled

Home ownership is a dream for every investor and the purchasing power differs from each person depending on the financial status. There is a community of real estate investors with disabilities who are offered certain privileges;

DC Fawcett reviews has written a review about how to get home ownership if the person is either mentally or physically challenged.

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The federal government offers certain special schemes and loans for these people to make their home ownership dream come true.

Some Tips about Home ownership by Dc Fawcett

•There is a rule that landlords cannot deny selling or renting their homes to disabled people nor set special rules and regulations. All must be treated equally like a regular tenant. They cannot disqualify them as non-potential buyer.

• People with disabilities may request changes in policies, practices, and services so they are able to access, use, and enjoy equal access to housing.

• Landlords and housing providers should accommodate reasonable requests to assist at all stages of the housing process and they have all the rights to ask for reasonable structural modifications that will provide them comfort.

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• They can depend upon the Office of Fair Housing and Equal Opportunity (FHEO), which was started to protect the rights of all homebuyers and individuals seeking housing, including individuals with physical and emotional disabilities.

• The Equal Credit Opportunity Act and Consumer Credit Protection Act make sure that financial institutions offer finance to all investors irrespective of sex, ensures that no discrimination is made if people are disabled.

Financing for disabled

Most of the time, the money is borrowed from a mortgage lender, bank, or credit union after an initial down payment is made.

• The mortgage lender should not restrain from lending money if the borrower is disable physically or mentally challenged.

• There are several acts and governing bodies that protect the rights of disabled people; in case they are denied with mortgage the lender is punishable by law.

Programs for Home Buyers with Disabilities

• Homeownership Voucher Program

HUD offers a Homeownership Voucher Program that can make owning a home more affordable. This program exists to subsidize monthly mortgage or rent payments for low-income and disabled individuals. HUD counselors in your state can help you apply for this program.

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• Supplemental Security Income

The Social Security Administration started this program to help aged, blind, and disabled persons who have little to no income pay for basic needs.

• Federal Programs

Department of Veterans Affairs: Specially Adapted Housing Grants (SAH) and Special Housing Adaptation (SHA) Grants are exclusively programs for veterans with disabilities. This program has certain guidelines pertaining to their income.

• The USDA offers financial assistance for elderly, disabled, and low-income rural residents in multi-unit housing complexes. This program ensures these individuals can make their rent payments.

• FHA loans are insured by the federal governments which are preferable as they are scam free.

To know more about home ownership, housing loan schemes and other privileges for disabled people, check out the articles in virtual real estate investing club written by DC Fawcett who has thrown light about these special people.

DC Fawcett Reviews On Modular Homes

Modular homes are also known as prefabricated / system-built / factory-built / panel homes. You can find these homes built inside a factory setup. These homes must satisfy the rules and regulations which differ from on-site buildings. While purchasing a modular home, keep in mind about 3 important factors namely price, quality and service.

Dc Fawcett reviews on modular homes, to know more visit DC Fawcett real estate virtual investing club.

Some aspects of modular Homes

  • The property appreciates in the value just like a traditional home.

  • These are specialized homes where you find factory equipment inside the house, it is based on what the factory manufactures and deals with. These homes can also be used just for an office setup.

  • Each home is built with a unique style and architectural design varies. It takes less time for construction completion. Choose the right builder and you can consider a Ranch or Victorian style for your home and you need to pay the full amount to the builder before construction. Hire general contractors for constructing your home. Real Estate scams are increasing day by day, so to prevent from such scams hire a reputed builder and contractors.

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  • Home loans, insurance, taxes, and resale value, standard zoning regulations are applicable and it is similar to traditional home. The loan can be applied which is valid for a year. You can also avail loans through manufacturers which is an added advantage.

  • The homes are usually characterized by ceramic flooring, counter tops, cabinets, and they can be customized according to the buyer’s preference.

  • Electrical, plumbing, gasoline are not included in the initial price. The buyer should pay for these facilities separately.

  • Kitchen cabinets or bedroom closets will have a metal tag where manufacturing date is mentioned.

  • These are energy efficient homes and subsequently you will save a lot on their electricity bills.

How these homes are built?

Find an empty piece of land in a suitable location. Prefabricated homes are built as part-wise in a factory; assembled together and then brought to the destination of the off-site home and fixed. They are placed on a foundation cannot be changed. Inspections are done under the supervision of home inspectors in the factory itself when each part of the home is built.

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Dc Fawcett complaints about the weather conditions, the builders have to stop working if it rains or snows outside.

Financing

When you apply for construction loan, until the completion of the construction you will pay interest only every month. Once you occupy the home and start living, it becomes permanent mortgage. To apply for the loan,

  • Submit your financial overview to the bank, with that information they will decide whether to sanction the loan. Do the same with at least 3 banks to make a comparative assessment on rate of interest.

  • Once loan is approved, make a plan on how to make mortgage payments

Conclusion

Virtual Wholesaling is another way to earn money where real estate wholesaling is done without risk.

DC Fawcett virtual real estate investing club is enlightening all the investors through blogs. The new investors can make use of these blogs to know the concepts of real estate, try hands on virtual wholesaling which is scam free.

DC Fawcett Virtual Real Estate Investing Club -Home Equity Loans,Family limited partnership,Financial Adviser,Housing Bubble

DC Fawcett Virtual Real Estate Investing club – Real Estate Housing Bubble

In the first quarter of 2017, 60 percent of the houses were affordable. Most of them availed 30–year conventional mortgage scheme and secured good credit score. DC Fawcett Virtual Real Estate Investing club

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Affordability factor

Three factors to check whether a home is affordable or not

  • Median home price nationwide
  • Average 30-year fixed mortgage rates
  • Median household monthly income

An affordable home is a property whose debt-to-income ratio is 28 percent or less than median household monthly income. If you are planning to invest on a real estate investment property, it’s not the right time and you need to procrastinate. Low mortgage rate and affordability factor may not last for a long time.

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When you are about to purchase the property, the prices would have become historically high. FHA loans require only 3.5 percent down payment, but there are new loan programs offer financing. Getting a pre-approval before the rise of mortgage rate is a good idea.

Purchasing a property is a challenge for millennials. If the home price goes up along with mortgage rate, it creates a negative impact on housing market. The demands are reduced whereas supply increases.

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At one point of time, the home prices come to a standstill when rates are fluctuating. The homes price will not increase after a point of time when mortgage rate keeps on increasing. 5.5 million Homes were sold in 2016 making one of the best years in home sales.

The “5” forces in 2017 housing market

  • FHA mortgage insurance
  • Rising mortgage rates
  • first-time home buyers
  • Low inventory1
  • High prices

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October 2016 witnessed highest hike in the property value. Seattle, Portland, Oregon and Denver were few cities experienced the inflation.

The home-buyers either couldn’t afford to pay down payment or qualify for a mortgage which in turn reduced the percentage of affordable homes available for sale. With more buyers entering the market, there is a bidding war for homes with more demand and less supply.

Millennials prefer rental homes over home ownership as prices have inflated. 40 percent of the home buyers are millennials.

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Different stages of Real estate bubble

  • PHASE I: RECOVERY

Characteristics of a recession: high unemployment rate; decreased investment, price of land is at its lowest point. With increase in population, the demand for homes increases.

We see a vast increase in vacancy rate across all types of real estate – office, retail, residential. This is happening due to investors opting for already vacant homes for the commercial and office space purpose rather than searching for new location. Already vacant homes charge less than new development.

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  • PHASE II: EXPANSION

The phase changes to expansion when the market witnesses a change in the housing trend. The change is when most of the properties are occupied; vacancy rate must be historically low or nil. When supply meets the demand or there is an excessive demand for properties.

There must be scarcity for new homes. The profit is the key factor for developing new properties on the vacant land or rehabbing the existing properties.

Adding a new inventory to the real estate market is not a cakewalk. We all know the process of constructing a property is a lengthy formality.

Negotiation of land sales, permission and approval for zoning regulations, financing has to be sanctioned. Building a home takes a lot of time which depends on location, builder and other factors. By the time it is up for property listing, the phase II is already in the process. Along with that occupancy rate and rent would have increased.

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  • PHASE III: HYPER SUPPLY

When the occupancy rate exceeds long-term average, there would be pressure on the rent. The first hindrance point in the real estate cycle is increase in unsold inventory. Growth rate is decelerating.

  • PHASE IV: RECESSION

The second hindrance point in the real estate cycle is transition from hyper supply to recession. The surplus inventory leads to lower occupancy and low rent which reduces the revenue for landowners.

The Third hindrance point in real estate cycle is increase in rate of interest. Though there are shortcomings, there is a drastic increase in borrowing cost. Lower occupancy and low rent is a buyer’s market.

The downturn in real estate trend has huge impact on the local economy. Recession is an unexpected event. The expansion phase occurs now and then and investors get to enjoy the benefits of home ownership.

DC Fawcett Real Estate Different Types of Real Estate Bubble

DC Fawcett Real Estate Attributes Of A Financial Adviser

The importance of financial adviser is discussed in this content by DC Fawcett.  We are also going to talk about the significance of the adviser and how much he contributes to the home sale.

His decisions are crucial when you buy a home. The mortgages, asking price, offer and taxes are some critical points in the process of home-buying and selling which is performed with the consultation of a financial advisor.

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The financial adviser is easy to find as you can get every piece of information with the help of Google nowadays. You can look into NAPFA (National Associate of Personal Financial Advisors), AICPA (American Institute of Certified Public Accountants) , FPA (Financial Planning Association) are few ways to start your search.

The traits of a financial adviser can be studied through Fawcett’s review.

 

  • Many investors just think that financial advisers should be well-versed in handling finances alone, but that not only helps. He should know the value of the investor’s money and his financial status.
  • He should be able to give you alternative suggestions when your plan a fails, in other words an instant plan B should be in the hand whenever there is a mishap in plan A.
  • There are trusts, stocks, REIT, groups etc in the real estate. He should have some knowledge on all the areas. He need not be an expertise, but not half-baked as it dangerous.DC Fawcett Real Estate 5
  • Make sure you understand all the financial terms explained by the adviser. If not, stop and ask what he is trying to convey you. You can also read about financial terms by making use of the financial guides’ available online and virtual real estate investing club
  • Risk is not certain as investors know the outcome; you can predict it and mitigate the effects.
  • Don’t give your consent blindly without knowing what the financial adviser is doing. The qualified advisers will get an informed consent. Don’t sign any document blindly without reading terms and conditions. Sometimes the scammers are in the form of advisers and write whatever they want in the document, check whether the documents are legal or fake first.

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How to hire a financial adviser?

The first and foremost, the adviser should have completed necessary certification from a reputed educational institution and undergone training which makes him/her qualified. Look out for professional designations so that it makes him qualified and the adviser is supposed to have profound knowledge.

It is merely waste if he either fails to express the skill sets wherever required or doesn’t help when you are in financial crisis.

Find how long he has been in this profession. Experience is one of the important criteria you have to check out. As real estate is a vast area, there are lots of issues to be looked into.

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Question the adviser as much as you want and extract the information. Check out the adviser’s history; find whether he has been involved in any suspicious activity. He should be a good listener than a narrator. He should be able to fix your problems and not elaborate about his personal stuff.

DC Fawcett Real Estate What is the need for Family limited partnership?

 

What is FLP?

Involvement of family members in a business or assets left for them, and then it is called family limited partnership (FLP).DC Fawcett Real Estate The FLP can be established by spending a cost of 5000 to 10,000 dollars.

It is a partnership agreement signed in consent between the family members who are the active participants in trade or business. It is used to divide the income and profit equally among the family members. To administer the objectives of the family members, FLP is required.

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The business can be in the form of real estate property which can be even vacant land or holdings or assets like gold, stocks, and bonds.

The advantage of FLP is to transfer the value of the assets to any member in the family which leads to reduction in the estate.

Types of Partnership

General and limited are two types of partnership. Initially, general partnership is created with interests of limited partnership. Now the general partner has all the ability to gift the limited partnership interest to his or her heirs or other eligible members in the family.

The general partnership gets the entire ownership over the asset as well as he or she can control the other members in the family whereas limited membership pass on their powers to their heirs and other eligible members in the family.

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DC Fawcett discusses about the pros and cons of FLP.

 Pros of FLP

  • Reduces the burden of income tax issues as you can pass on the powers to your heirs.
  • Transfer of ownership is systematic: The value of the shares remains with the value of the estate.
  • Tax benefits
  • Income tax savings from limited membership when you add your heirs onto your limited membership.

Drawbacks of FLP

  • Heirs are burdened with capital gains liability which is based on the property type, which can be further studied with the attorney’s help.
  • The stepped-up value is not constant.
  • General members are prone to risk as do not have any protection for their asset.
  • Minor (heirs) cannot get ownership easily: it requires the interest of a guardian or a parent membership. General members should control the activities. So, the family members cannot choose them for limited membership category.
  • DC Fawcett complains about the exorbitant tax levied on the assets which are not oriented to business and may lead to capital gain unnecessarily.
  • There is a financial loss when there is a property ownership transfer.

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We infer from DC Fawcett reviews that the benefits are less in FLP but when executed in the right way, the family members can enjoy all the advantages. Don’t become a victim by getting involved in a scam; In order to do that, you need to consult a financial adviser to know in depth about FLP.

The attorneys generally deal with FLP’s and you can also take the help of financial planners. You can learn more about financial advisers and how to hire them by browsing DC Fawcett virtual real estate investing club.

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DC Fawcett Virtual Real Estate Investing Club Collateral And Home Equity Loans

Collateral option is preferred by the investors when the loan amount is huge. The borrower has to be in consent with the lender that he is allowed to take a part of the collateral for selling purpose in case the borrower fails to make the payment. DC Fawcett Virtual Real Estate Investing Club  Usually the borrower pledges his land and the borrower can expect a reasonable amount when he applies for the loan.

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The collateral is used as an assurance from the lender’s perspective. It reduces the risk as he does not lose all his money when borrower falls short on his payment. The lender has all the rights to hold the borrower’s possession when there is a payment default, the possession can be sold and the amount can be used as reciprocal for the loan.

Instead of taking legal action and to avoid lengthy procedures, the lenders just sell off whatever the borrower pledges as collateral and make money.

Not only land, there are different types of collateral which is listed below.

The valuable asset can be in any form which can be made into cash when you sell.DC Fawcett Real Estate 11

  • Automobiles
  • Real estate
  • Savings account ( the lender takes the amount that is left in your account whichever is due)
  • Insurance policies

Usually the lender only sanctions a loan which is very much less than the value of the asset. There may be certain situations where you may need to add collateral when the existing collateral loses its value.

Collateral loans are usually applied by business men as well for personal use. They are the last choice when the investor has a bad credit score as these loans are expensive.

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Similarly, home equity loans are preferred when the borrower is in need of huge amount. These loans are not having much strict guidelines and easy to get qualified. It is more of a second mortgage, when the first home you own has resulted in sufficient home equity.  These loans are considered to be safest and you cannot come across scammers and fraudsters as these loans are provided by the bank. Know you income and expenses before applying for the loan.

The following are the benefits of home equity loans

  • Rate of interest is low
  • People with bad credit score can apply for these loans as getting an approval are easier.
  • The investors get tax deductions

When the borrower fails to repay, his house which is kept as collateral is taken by the bank and the foreclosure procedure comes into force. The risk factor should be kept in mind before applying for home equity loan. The fear of losing your property will stop you from applying the home equity loan at times.

Also the bank should not approve loans having higher amount as bank may face a financial crisis if all those borrowers default in payment. The borrower can avail two options namely HELOC and lump sum, which is more like second mortgage type. To know more about second mortgage, the uses read the blogs in DC Fawcett virtual real estate investing club.

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Conclusion:

DC Fawcett VREIC is far and wide familiar as the leading creative thinker on real estate trends; impacting the real estate entrepreneurial dealing. The virtual real estate investing club is its hub where so many have benefited as a successful realtor. He has held a number of seminars which throw light on demanding real estate concepts.

From the review, we infer the different phase of housing bubble. To prevent from real estate scams, visit DC Fawcett virtual real estate investing club where DC Fawcett has explained about the investment properties, pros and cons, tips for beginners. His articles have been read widely by all aspiring investors.