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Archive for January, 2015

Should We Overpay For Homeowners Insurance?

Should We Overpay For Homeowners Insurance?

Question: We’re in the process of buying a home. The sale price is $225,000 but the insurance agent wants us to carry coverage for a property costing $285,000. Why do we need so much excess insurance — or do we? Answer: When you buy a car the price you pay has a package cost but […]

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Will Lenders Accept Partial Mortgage Payments?

Will Lenders Accept Partial Mortgage Payments?

Question: Can you tell me why it’s okay for mortgage companies to reject partial payments when a borrower is behind? It seems to me that it’s bad business and not too good for the economy. Answer: Many mortgage servicers — but not all — are reluctant to accept partial mortgage payments from delinquent borrowers because they […]

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2014 Foreclosures Down 18%, Says RealtyTrac

2014 Foreclosures Down 18%, Says RealtyTrac

For the fifth year in a row foreclosure levels are down, signaling an end to the worst real estate collapse since the Great Depression. But while the numbers are greatly improved for 2014, the real estate market remains fragile with 1.1 million foreclosure notices generated during the year. “Despite the annual increase in foreclosure starts […]

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Please Don’t Move To Pensacola….

Please Don’t Move To Pensacola….

Please don’t move to Pensacola. Seriously. I know it has superficial attractions like miles of clean beaches, real estate costs which are a third, or a fourth or a fifth of home values in hip-and-happening major metro areas and sure, you can easily park on the streets downtown, but do you really want to give […]

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