Day: September 23, 2010

American Land Title Association (ALTA) policy, gives more coverage

September 23, 2010

ALTA’s expanded coverage policies cost about 10 percent more, but offer significantly more benefits. For example, the policies will pay up to 125 percent of the original insurance amount in case of claims to help account for inflation. Other expanded coverages include:

  • encroachments on the land made by neighbors after the date of the policy,
  • inability to access the property by vehicle or a pedestrian, and
  • zoning violations made by previous owners that must be corrected by the insured owner.
  • ( Paul pays for professional ed. classes, you hire him and get the knowledge at no extra charge ! …. back to class, p )

Bring your preapproval letter and lets shop for some BARGAINS !

September 23, 2010

Make sure your credit is as clean as possible, according to FICO, a person’s score is as follows:

  • 35 percent is determined by payment histories on credit accounts, with recent history weighted a bit more heavily than the distant past.
  • 30 percent is based on the amount of debt outstanding with all creditors.
  • 15 percent is produced on the basis of how long the borrower has been a credit user (a longer history is better if there have always been timely payments).
  • 10 percent is comprised of very recent history and whether the borrower has been actively seeking (and getting) loans or credit lines in the past months.
  • 10 percent is calculated from the mix of credit held, including installment loans (like car loans), leases, mortgages, credit cards, and so on.