NOCATEE a Northeast Florida Growing Community!

NOCATEE a Northeast Florida growing community!

Nocatee is a master-planned community located in Ponte Vedra, a golfer’s city and home to the PGA Tour of the Northeast Florida First Coast.  Nocatee currently features seven new neighborhoods and a wide variety of ready and magnificent homes for quick move-in or a great location to build your new home with choice of builder and preferred home style.  Homes are priced from the low $100s to more than $1 Million offering a wide selection of Condominiums, Townhomes, Patio Homes, Carriage Homes, Single Family, Estate Homes and 55+ active Adult Community.

Nocatee lifestyles features employment opportunities, new town center anchored by Publix Supermarket, banking, corporate office park, restaurants, St. Johns County School district, civic uses,  amenities, fitness center, a resort style water park and much more.

No matter how simple the process seems to purchase a new home from a builder you cannot go wrong by obtaining professional advice from a real estate agent who looks after your interest.

If  interested in a community tour and additional information at no cost to you, please click on Builder of choice below and complete short form  to receive your FREE information packet.  For automated listings delivered to your inbox, define the search criteria and we match it with the most current listings to hit the market in our database. This is a terrific way to stay up-to-date without spending hours scouring the internet and paging through the newspaper.  We look forward to being of service.

NOCATEE BUILDERS

David Weekly Homes
Del Webb 55+
CornerStone
Lennar
Mattamy Homes
Providence Homes
Richmond American Homes
Taylor Morrison Homes
Toll Brothers

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach, Hutchinson Island, Fort Pierce, Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest.com, www.HealthcareRelocationServices.com

How To Avoid Delays In The Closing Of Your Home

How To Avoid Delays In The Closing Of Your Home

You have finally found the house of your dreams and you can’t wait to close and get moved into your new home.  So you definitely want everything to go as smoothly as possible with the sale of your current home.  Here are a few things you can do to make sure that you help avoid any possible delays during escrow.

First of all, problems can arise during closing no matter what you do and closing dates are never set in stone.  Just about anyone involved in the process could potentially cause a delay.  So you will want to keep in close contact with your realtor.  Your realtor will be able to inform you immediately of any deadlines that are approaching and help you to effectively deal with any delays.

Here are a few a few things you can do to help avoid any escrow delays.

1.  Make sure you have a very well written sales contract

2.  Ask your realtor to make sure that the buyer is required to  provide proof of sufficient funds for their down payment and closing costs

3.  It is a good idea to have the buyer provide proof of the ability to buy homeowners insurance (due to new restrictions on insurance policies, the mortgage lender will most likely require them to provide their insurance prior to funding the loan)

4.  Make sure you modify the part of the sales contract where the seller makes a warranty to the buyer of the condition of the property.  It should be modified to reflect the sellers transfer disclosure statement.  If you leave this out, the seller may have to repair items that are found not working or faulty and this could delay your escrow period

There are many things to remember and many things that need to be taken care of prior to a closing.  So it is a good idea to keep in regular contact with your realtor throughout the entire process.  Your realtor will help keep you on track and make sure that everything you need to do gets done within the timeframe that is required.

The last thing you want is to get to your closing appointment only to realize that one of the items needed for closing has not been done.  Your agent wants to get you through the sales process and through your closing as smoothly as possible.  So you don’t need to worry about anything, but you do need to keep in touch.

The next thing you know, you will be enjoying your new home and that everything was completed without a glitch!   At least, that is, until you get ready to buy your next home, then everything starts over again.  But that is a topic for another day.  For now you can relax and enjoy your new home for years to come.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach, Hutchinson Island, Fort Pierce, Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest.com, www.HealthcareRelocationServices.com

The Benefits Of A Home Warranty

The Benefits Of A Home Warranty

Ok, so you just found a new home and are ready to put your current home on the market.  You want your home to sell quickly and without any glitches along the way.  But what can you do to protect yourself and your buyer?  Well, have you ever heard of a Home Warranty?  If so, great, then you already know this is the way to go.  If not, then keep reading and we will look at why getting a home warranty is so important.

What exactly does a Home Warranty do for you?  The Home Warranty is really just an insurance policy.  Most policies will protect you from the day your home is listed on the market until one year after the closing date.   By buying a Home Warranty, you will make the purchase of your home more attractive to home buyers.

The Home Warranty will cover anything that could break down or go wrong.  Things such as a broken dishwasher or air conditioner, etc.  By buying Home Warranty protection, you will help to eliminate the worries about unexpected but necessary repairs for you and the home buyer as well.   This will limit the liability for both of you in the event that a problem is discovered before or after closing.

Home Warranty policies will vary; however,  the standard deductable is usually somewhere between $35-$100 but can vary from state to state.

So to sum up the advantages of buying a Home Warranty:

• It will potentially save you money
• The Home Warranty will repair or replace any covered item
• The cost of a Home Warranty is only a fraction of the cost of replacing a major appliance
• It provides an incentive to the sale to any potential home buyer
• The Home Warranty will relieve any buyers anxiety about buying your home, especially if you have an older home
• It also relives a buyer of any concerns that you failed to disclose a material defect on the home disclosure
• Additionally, it will help prevent the buyer from trying to sue you  for failing to disclose any of the homes major defects on the home disclosure

The Home Warranty Protection policy is a fantastic way to protect you and your buyer from unforeseen repairs that can and do arise without warning.  During the home buying /selling process is no time for either party to have to shell out more money, especially for repairs.

Talk with your realtor about obtaining a Home Warranty Protection policy, they will be able to go over the entire program and its benefits with you.    So sit back and relax and enjoy the peace of mind you will get from purchasing the all important Home Warranty Protection policy.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach, Hutchinson Island, Fort Pierce, Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest.com, www.HealthcareRelocationServices.com

Radon And Your Home

Radon And Your Home

Radon is a colorless, odorless, radioactive gas that poses serious health risks if it becomes trapped under your house.   Radon will usually get into your home through underground crawl spaces, sump pumps, and holes in your basement or through the water supply.   Radon gas can pollute your air with odorless toxic vapors and it causes thousands of lung disease related deaths each year.

Before you purchase any property you should have that property inspected for a radon problem.   If the inspection turns up elevated radon levels, which is considered to be 4 picocuries per liter (pCi/L) or higher, you will have to have certified radon mitigation contractor come out to reduce the radon levels in the home before you can occupy it.

High radon levels can be reduced by installing a radon reduction system.  You should ask the contractor for references documenting the results of their past work in other homes before you hire them.    Once they have completed the work, it is important that you ask that company to check the house after the system has been installed to ensure that it is actually reducing the radon levels in the home.

After your radon reduction system is installed, you will need to maintain it.  So make sure you get detailed instructions from the contractor who installed your system about what you need to do to maintain that system.  You should put this on a monthly maintenance calendar for your home.  This is too important to forget.  Your family’s health and lives could be at risk otherwise.

If you have made an offer on a home that has a radon inspection that reports high radon levels, you should consult with your realtor about any additional steps you should take to resolve the issue.  Additionally, your agent will be able to provide you with names and phone numbers for reputable contractors that can correct the situation for you.

Talk to your realtor about this issue so that you understand what you should be considering and what your options are.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach, Hutchinson Island, Fort Pierce, Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest.com, www.HealthcareRelocationServices.com

Spring Home Maintenance Items That Must Be Performed

Spring Home Maintenance Items That Must Be Performed

It’s that time of year again.  Spring has sprung and there are chores do be done.  Routine maintenance is a big part of home ownership and hopefully you have a yearly calendar of routine tasks and when they need to be performed.  Deferred maintenance will cause bigger, more expensive problems down the road and could cause you to lose some of your home’s value if left undone for too long.

Here are a few things that I consider to be important spring time routine maintenance tasks.

1.  Clean out and remove dead plant material and leaves from your plant beds.

2.  Trim your trees and thin them out to ensure proper growth and stability.  Make sure you check for any cracked or damaged trunks or limbs as this could create a dangerous situation if not corrected.  When comparing tree trimming companies, make sure they have the proper insurance in case of damage.

3.  Inspect your roof shingles for any damage that may have occurred over the winter months.   If you are not comfortable doing this – hire a professional.  Remember, if you find roof damage, check with your insurance company.  Many insurance companies will pay for the repairs or possibly a new roof if the damage is severe.

4.  Check your gutters and downspouts.  Make sure they are secure.  Clean out any leaves and debris.

5.  Check fence poles and gates.  If your fence poles have loosened up over the winter, wait until the soil is dry then clean out an area around the post and put down some new cement to secure the pole.  Check your gate latches and hinges for proper functioning.  This could be a security issue for your family and your pets.

6.  Clean up all old leaves, debris and plant material that has accumulated over the winter.  Not doing this could ruin your landscaping and could potentially cause a fire hazard during the hot, dry summer months.

7.  Inspect your air conditioning unit inside and out.  Change the inside filter and hose down the outside coils to remove any debris that could overwork your unit.

8.  Close your fireplace dampers if you have not already done so.

9.  Test your sprinklers and timers and adjust the heads where necessary.

10. Check vent blocks and remove faucet covers once you are sure that all freezing danger has passed.

11. Replace your smoke detector and carbon monoxide detector batteries then test the units.

12.  Tune up your lawn mower and other lawn equipment for peak performance.

All of these routine maintenance items will keep your home in tip top shape and ready for the new season.  If you are considering selling your home, call your realtor for more suggestions as to what you can do to help spruce up your home for maximum profits.

About the Author:  Millie Gil has been a successful Licensed Realtor for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach,  Hutchinson Island, Fort Pierce,  Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest

Should You Consider Owner Financing?

Should You Consider Owner Financing?

So you have lived in your home for a while now and are thinking about selling and moving into something that is better suited to your current lifestyle.  However, you may be wondering if now is the right time to sell.  You have heard all of the rumors about the housing market and how hard it is to get financing.  So what are your options?

Well, here is an option that you may not have thought of – owner financing.   If you have a lot of equity in your home and you do not need that equity to buy another home, then owner financing may be the way to go.

Let’s talk about how owner financing works.

1.  Owner financing will benefit you by helping you sell  your home more quickly and will also benefit your buyer by enabling them to buy a home now instead of having to wait

2.  Seller financing usually means the buyer will secure the largest part of the home purchase through a mortgage company

3.  The buyer then gets a smaller second loan from the sellers

4.  Example:  the buyer may finance 75% of the loan with the mortgage company, put 15% cash down and then ask the sellers to finance the remaining balance

5.  The terms and interest rates on seller carry backs are handled on a case by case basis

6.  The seller generally gets a better return on their investment versus a one to five year CD or Treasury note

If you decide to honor an owner financing option, make sure you protect yourself to the fullest extent.  You must verify the buyer’s income, credit history and job stability before proceeding with the final paperwork.  Put everything in writing!

Owner financing may be just the option you need to help you get into your new home sooner rather than later.  Talk to your realtor about the best way to handle an owner financing deal.  Your realtor will be able to help you through this process and help to make sure everything is handled in your best interest.

About the Author:  Millie Gil has been a successful Licensed Realtor for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach,  Hutchinson Island, Fort Pierce,  Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest

How To Recognize A Home That Will Hold Its Resale Value

How To Recognize A Home That Will Hold Its Resale Value

Buyers who are looking for a new home are often very excited.  It is that excitement that can sometimes cloud their judgment when it comes to buying a home that will retain its resale value.  So what can you do to make sure that your excitement does not overcome your good judgment and common sense?

Here are some things to keep in mind when you are trying to buy a home that will retain its resale value.

1.  Location, location, location!  Is this home on a busy street or does it have some other undesirable factor about it?  If so, make sure the price is adjusted accordingly.

2.  Consider all defects that are not correctable.  Things like location, traffic, floor plan etc. Then make sure the selling price reflects these non -correctable items.  Remember, you may have to sell this home with these same defects in the future.  So you don’t want to be left holding the bag.

3.  Does this home suit your long term needs.  If so and you plan on living in the house for a very long time, then resale value may not be as big of a determining factor for you.

4.  Don’t be bullied.  If you are looking in a hot market, don’t overlook the issues that could cause you to lose money if you have to sell in a future market downturn.

5.  Look for a home that has a broad appeal.  A home that is suitable for most people.  One that has a good floor plan and amenities that the majority of people are looking for is important.

6.  Think about the size and the space.  Is this home going to be very expensive to maintain due to its home or yard?  Are there any other factors that could influence someone’s decision to buy.

7.  It is best to buy a home that is in good condition -one that someone clearly took the time to maintain over the years.  Routine maintenance is a huge factor when it comes to future repairs.

8.  Convenience – how convenient is this home to schools, banks, day care centers, shopping, gas and restaurants.

9.  Look for an easy commute – is this home located in an area where the major thoroughfares are easily accessible.  Is there a bus line nearby etc.

10.  Find a home that has a good resale value and not one that is just a good deal.

Talk to your realtor about buying a home that has a good resale value and they will be able to help keep you on the right track.  Resale value should be one of the major deciding factors when buying a home.  Remember, most people do not live in the same house their entire lives.  So plan accordingly!

About the Author:  Millie Gil has been a successful Licensed Realtor for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach,  Hutchinson Island, Fort Pierce,  Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest

Important Questions To Ask Your Home Inspector

Important Questions To Ask Your Home Inspector.

You know when you are buying a home, that you will need a home inspection.  But when it comes time to read the inspection report you feel like you need a translator!  Here are a few important questions you should definitely ask your home inspector to help you understand the inspection report before closing the deal.

1.  Clarify what is truly bad.  Have the inspector tell you exactly what is really bad, what will need to be fixed right away and what can wait.  Also,  have him let you know what he put in the report that he just wanted to let you know about, but was not a necessary repair.  This is important because the inspector may have something noted under the category “Health & Safety Hazards” and all it is a small plumbing issue that would only cost a few dollars to fix.  So it is important to clarify everything.

2   How hard is that to fix?  You should ask the inspector how something should be fixed and they will usually be more than happy to explain to you how easy the repair is to do yourself.  If it is not a simple fix, they may have someone they can refer to you to have the repair done professionally.  Additionally, they can also tell you about how much the repair should cost, whether you do the repair yourself or have it done professionally.  This information can be invaluable when you are not sure about a particular repair.

3.  If it were you, what would you do?  Ask the home inspector what they think you should have fixed or not fixed, whatever the case may be.  It is the home inspectors job to point out every little thing in their report.  That’s what you are paying them for remember.  So find out what is and isn’t a necessary fix.

4.  Get clarification on anything you don’t understand.  Sometimes the inspection report contains a term or a repair that you have no clue what they are referring to.  Ask the inspector to show you each and every item on the report that does not make sense.  It is going to be your new home for years to come and you need to understand everything about it.

5.  How does that work?  There will inevitably be one or maybe several mechanical systems that you don’t know how to work.  Most home inspectors would be more than happy to show you how to operate everything.  But you have to ask.  So go through the entire house and make a list of everything you think you may need help with – then ask.

The home inspection is one of the most important things you will be doing when buying a new home.  Finding out any major defects etc. could keep you from buying a money pit or could help you to renegotiate the deal if many repairs are needed.  Get your realtor involved in the process.  Your agent sees hundreds of homes every year and you might be quite surprised at what they can point out before you even begin the inspection process.

About the Author: Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach,  Hutchinson Island, Fort Pierce,  Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest

Home | Sign-up for a Tour! | Send Me Information | Homes For Sale | Homes Short Sale | Search Foreclosures | Open House | Homes For Rent | Renter’s Insurance | Cascades Resources | Cascades Events | Cascades Tour | Home Virtual Tour | Driving Directions | Cascades Q & A | Cascades Floorplans | Cascades HOA | Community News | Preferred Providers | Cascades BLOG | Buyer’s Resources | Dream Home Finder | Search MLS | Home Inspection | Home Warranty | Florida Relocation | Property Taxes | Tax Estimator | Insurance Quote | Buy A Short Sale | Map Home Search | Book Travel | Seller’s Resource | Market Analysis | Short Sale Inquiry | Our Commitment | Outbound Relocation | Sold Homes Report | Jobs Opportunity | Senior Care Living | Workforce50.com | Retired Brains | Tradition | The Vineyards | Kings Isle 55 Plus | Magnolia Lakes | Sawgrass Lakes | Lake Forest | Lake Charles | Tesoro Homes | The Club SLW | Belmont SLW | Country Club Estates | Lakes At SLW | Viscaya Falls | PGA Village | Verano PGA | Seasons 55 Plus | Map Home Search | Tampa Homes | Ocala Homes | Naples Homes | Fort Myers Homes | Jacksonville Homes | Ponte Vedra Homes | Orlando Homes | New Developments | Discovery Tours | Costa Rica Homes | Vero Beach 55 Plus | Book Travel | Florida Package | Costa Rica Package | Book Travel | Real Estate Glossary | Golf Course Finder | FREE Moving Quote | Market eNewsletter | Currency Converter | FREE Credit Score | Airport & Flights | About St. Lucie West | Connect Utilities | Global News | Books WebStore | Retirement Homes By State | Local Hospitals | Dining Guide | St. Lucie County Profile | New Developments | Cost of Living Data | Taxes by State | Book Travel | Amazon Store | For Buyers | For Sellers | Homeowners | Mortgage Calculator | Mortgage Rates | Loan Quote | Get Pre-Approved | Mortgage Articles | Lending Sources | Financing Terms | St. Lucie County | Martin County | Palm Beach County | Indian River | Broward County | Brevard County | Okeechobee County | Miami-Dade County | Referral Network | Real Estate Career | Real Estate School | Guest Bloggers | Contact Us | Testimonials | About Us | Our Blog | About Florida | Se Habla Español | Why Use A REALTOR® | North Florida Homes | Privacy Policy | Florida New Developments

Mortgage Debt Settlement Risks You Should Know

Mortgage Debt Settlement Risks You Should Know.  Buying a home is a wonderful feeling and there are several ways to purchase a home:  cash, rent to own or by entering into a mortgage.  Most people opt for a mortgage and for very good reason.  A mortgage is a good way to establish a good credit history and because it is the fastest way to buy a home.  Cash takes a long time to save; whereas, a mortgage will get you into your new home almost immediately.

There are many things to consider when deciding to purchase a mortgage.  Handling your debt properly now and into the future should be your first priority because a mortgage debt that has gotten out of control can have very serious repercussions for the home owner.  So make sure you think about your long term plans and goals before deciding on how much of a mortgage you can handle.

If you happen to find yourself in a position where you have to rely on a debt settlement to get out of your current situation then there are a few things you need to look out for.   Let’s talk about a few things that you need to be aware of before entering into your next mortgage loan.

1.Tax Caveats – You will need to remember that tax does apply to loans that are more than $600.  Many times the taxes are deducted from your loan before the funds are released

2.Bad Credit Reporting – Most lenders will report your payment history to all of the major credit bureaus.  If you have not paid your mortgage on time, this will most definitely affect all of your future borrowing potential to some degree.  Even missing one payment can have a negative effect on your credit history.  Your future purchases will no longer qualify for acceptance by prime lenders and you will be forced to use subprime lenders that offer a much higher rate.

3.Watch Out For Fraudsters – Many people are approached by scammers and are tricked into hiring them to handle their debt settlement.  The scammer will ask for a large upfront fee and then take off with your money and you will have little to no recourse when it comes to trying to get your money back.  Some legitimate debt settlement companies, although legitimate, their business practices are less than favorable to the borrower.  They are known to take advantage of unfortunate situations such as these.

4.Beware Of A Possible Lawsuit – Lawsuits are very common in debt settlement cases.  It does not matter what your situation is or how it came to be; lenders will not adjust your loan to meet your current financial problems.   So remember you can be sued for not paying your debt in full.  In addition,  this will have a negative impact on your credit history.

There is so much involved when it comes to a mortgage.  It is in your best interest to find a qualified realtor to stand by you and help you through all of the potential real estate pitfalls.

A realtor can be your best friend and could save you from making an innocent mistake just because of something you were not aware of.  Your realtor has many years of experience and is there to help you every step of the way.

About the Author: Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Servicing:  Port St. Lucie, Palm City, Jensen Beach, Stuart, Vero Beach,  Hutchinson Island, Fort Pierce,  Palm Beach, Jacksonville, Jacksonville Beach, Ponte Vedra Beach, Palm Coast, Neptune Beach, Amelia Island, Atlantic Beach, Fernandina Beach, Saint Johns, Saint Augustine, Daytona Beach, Fleming Island and New York real estate.

View thousands of listings  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com, www.TheCascadesAtStLucieWest

Rate this:

What Is Escrow And How Does It Work?

So what exactly is escrow.  If you have recently bought a house or are thinking about buying a house, you will need to know what escrow is.  Here is a quick overview of what escrow is and how it works.

Escrow is a deposit that is held by a third party or escrow agent.  So in other words, an escrow deposit, is the money you put down on your new home.  Your escrow deposit is held in a secure location by a neutral third party.

The escrow agent works for both the lender and the buyer and their purpose is to carry out the instructions that both parties have agreed on.  The escrow agent will release your money once all of the terms of your agreement have been upheld.

Your mortgage lender will more than likely require you to open an escrow account to make sure there is enough money to cover your insurance and taxes.  The way this works is you will make an initial deposit to your escrow account followed my monthly installments.  Most lenders will arrange to have this included in your monthly mortgage payments.  When your taxes and insurance premiums come due the escrow agent will release the funds to the appropriate party.

The reasoning behind having an escrow account is to protect the lender in the event you default on your payments.  The lender is then protected from external perils that could arise as a result of you not paying your taxes or your insurance causing the lender to be left with no collateral.

An escrow account also helps the buyer because it allows you to spread your payments  evenly over a 12 month period.  Just imagine if your yearly taxes were $3000 and your yearly insurance was $1400, that would leave you owing $4400 in one lump sum.

Your escrow amounts could change from year to year due to the possible increase in your taxes and insurance.  Therefore, your lender will review and adjust your escrow amounts annually and you will be given a revised mortgage payment if your taxes or insurance go up.   On the same token; however, if your taxes or insurance rates go down, you will be given a refund.

Sometimes an escrow requirement can be waived.  Some buyers prefer to pay all of their taxes and insurance directly.  Your lender may allow you to do this if your down payment is more than 20% but they will more than likely raise your interest rate slightly to compensate.   One thing to remember is that once you begin putting your funds into an escrow account, it can be difficult to cancel this process so make sure that you fully understand what your options are before doing anything.

Well, I hope that I have fully explained what escrow means and how it works.  However, if there is anything you don’t understand or anything you have questions about, please call your realtor.  Your realtor has many years of experience with these kinds of things and will be more than happy to assist you.

Having the right real estate agent means having an agent who is committed to helping you buy, sell or rent  your home with the highest level of expertise in your local market. This commitment level has helped me build a remarkable track record of delivering results.

Nothing is more exciting to me than the gratifying feeling I get from helping people meet their real estate needs. You can count on me to always do what’s in your best interest. I pride myself on being honest, trustworthy, and knowledgeable in the real estate market. I know how important it is to find your dream home. Therefore I will make it my responsibility to help you achieve those goals.

Whether you are an experienced investor or a first time buyer, I can help you in finding the property of your dreams. Please feel free to browse my website or let me guide you every step of the way by calling or e-mailing me to set up an appointment today.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

View thousands of new and resale homes:  www.Northeast-Florida-Relocation.com,  www.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com a Golf Style Private Community,  www.TheCascadesAtStLucieWest.com  a 55+ Resort Lifestyle Community, www.HealthcareRelocationServices.com