30 Jul 2019
By Mortgage Blog Content

The Community Reinvestment Act Explained In Simple Terms

Real Estate
The federal government adopted the Housing and Community Development Act in 1977, and the Community Reinvestment Act (CRA) portion was designed to prompt lending institutions to provide mortgages for low- and moderate-income Americans. The underlying reasoning for the CRA was to discourage discriminatory lending practices that inhibited low-income communities and neighborhoods. Over the years, its regulations have been revised to improve effectiveness. During the early 1990s, upwards of five changes were made and more following the 2007 financial crisis. With the country currently in the midst of an economic comeback, the Office of the Comptroller of the Currency announced that it favored making changes to the rules that govern lending under…
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26 Jul 2019
By Mortgage Blog Content

Innovative Home Security Technology

Real Estate
For market value and the comfort of a home's occupants, home security is just as important as energy-efficiency. Innovation in smart home technology focuses on both of these areas. Here are some tips about things a homeowner can do to make a home more secure and a few pitfalls to look out for, which may not be obvious. Smart View Doorbell No matter how reinforced the front door of a home is, it is not secure if it is opened by someone inside without first knowing who is there. Additionally, smart doorbells allow the homeowner to view the front of their home using a smartphone application, even when they are not…
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25 Jul 2019
By Mortgage Blog Content

The Monopoly Technique – How To Build Value By Acquiring Adjacent Properties

Real Estate
Have you ever played the classic board game called Monopoly? The object of the game is to collect all the properties until one winner bankrupts all the other players. The other part of the game is that accumulating properties adjacent to each other increases the value of the individual properties. When a player acquires all the properties of the same color (two or three), then the rents go up and property development can begin. The Monopoly Game In Real Life The same basic principles sometimes work in real life. Owning a property and then buying the one next door creates a value-added possibility of the combined properties being worth more than…
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24 Jul 2019
By Mortgage Blog Content

What’s The Value Of Water?

Real Estate
When investing in real estate, few people think about water as a high priority. All of us have become used to water being readily available and rarely give it a second thought. Most would think that water is only a consideration for farmers who need it to irrigate agriculture. However, due to climate change and population growth, the world is experiencing large impacted areas and major cities that are running out of water. Will Water Run Out? Las Vegas expects to run out of water by 2030. Lake Mead near Las Vegas is the water supply for more than two million people. Its level has been declining steadily for decades. Las…
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23 Jul 2019
By Mortgage Blog Content

What Is A 1031 Tax Exchange?

Real Estate
A 1031 tax exchange is a legal way to defer paying capital gains when selling a property and then buying a "like-kind" property within the allowed period. The time limits allowed are 45 calendar days after the close of the sale of the first property to identify the like-kind property for acquisition and then close the purchase transaction to complete the 1031 exchange within 180 calendar days. Like-Kind Property The property's broad characteristics determine if it is a like-kind property, not the quality of the asset. In real estate investing, there is a wide variety of things that qualify for like-kind exchanges. For example, vacant land is exchangeable for a commercial…
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19 Jul 2019
By Mortgage Blog Content

5 Important Benefits Of Downsizing Your Home

Real Estate
After the children are all grown and moved out, the family home often feels excessively large and empty. If you're in this stage of life, you may be wondering if you should downsize like so many others, or stay put. Downsizing may be the best option, depending on your lifestyle. Here are five benefits of downsizing for you to consider. 1. Less Clutter When you move into a smaller home, you'll have the opportunity to get rid of many possessions that you no longer need. Whether it's sporting goods or knick knacks, you'll be able to either sell the items, give them away to kids and grandkids or donate them to…
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