When you get approved for a home mortgage you should ask, “What are my closing costs?”  You should see them in writing.  Interest rates are important, but your ‘closing costs’ are equally important.  If you have a rate of 5% on a $300,000 loan with closing costs of $9000 quoted from one bank and you have a rate of 5.5% with 0 closing costs from another bank which is better? (more…)

Absolutely they are!  However, a few things you should know before considering a bank-owned property.  For instance, because the bank has never occupied these properties, the “seller’s disclosure” describing pre-existing conditions with the house is requested to be waived by the buyer.  How does this affect you?  (more…)