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A Foreclosure May Not Be Your Only Option
Financial distress causes tremendous strain on families. It comes in many forms such as: job loss, debt, divorce, serious illness, medical bills or a death in the family. Many people do not realize that they are really "distressed", but as a result their family home may be in serious jeopardy. Often times people learn of "Short Sales" after it is too late, as they have attempted to face the hardship and heartache of their situation alone without any form of professional assistance.
Given the current state of our real estate market and what it is doing to so many families, The Bittinger Team took it into their own hands to become Short Sale Experts! Every agent on The Bittinger Team has now acquired their "Certified Distressed Property Expert" designation, or CDPE. This experienced, and highly trained group of agents have dedicated their time and effort to understanding the critical issues that distressed homeowners are facing. CDPE agents understand the full range of solutions available and are ready to help every step of the way!
Contact our team at 734-459-2600 for more information on this program and how it may benefit you.
Buyers Remorse >First Time Loans
Most first-time buyers can qualify for a mortgage loan, but they may need help from parents to make the down payment or closing costs on their home. There are loan programs that minimize the down payment and closing costs for first-time buyers. These programs usually require that 3 to 5 percent of the purchase price come from the buyers' funds, not from a loan or gift. Most lenders ask for the last three months' bank records. The borrower will be asked to reveal the origin of any large deposits. If the money comes from the homebuyer's parents, the lender may not consider those funds when qualifying the buyers.
Parents who are planning to help their children finance a home should transfer any funds several months before the house-hunting process begins. If it is a loan rather than a gift, a formal re-payment agreement should be drawn up between parents and children to eliminate potential misunderstandings or future complications with either estate.
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What is considered the world's tallest building?
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| A |
The 185-story CN Tower in Toronto, Canada is the world's tallest free-standing building, rising to 1,815 feet. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERTS™ 
