It’S A Numbers Game
If you want to pay off debt or make home improvements, a home equity loan might be just the ticket, but if you want a better interest rate, you might consider refinancing. Learn the difference and when each makes sense—and when it doesn’t.
Source: Refinancing vs. Home Equity Loan: The Main Differences
WHAT DO YOU THINK?
More minority homeowners would lift overall homeownership rates, but discriminatory patterns persist in real estate. From NAR’s Policy Forum, Feb. 6, Washington, D.C.
Source: Closing the Racial Ownership Gap: Is It Possible?
Source: HUD.gov / U.S. Department of Housing and Urban Development (HUD)
Median Sales Price for New Houses Sold in the United States
Source: Median Sales Price for New Houses Sold in the United States (MSPNHSUS) | FRED | St. Louis Fed
The final rules clarify eligible subsidies within the program and outline qualification standards.
Source: Final Rules Issued on Qualified Opportunity Zones | www.nar.realtor
Here is the answer to the question, and where you can start researching.
Requirements and Application Process Applications are available in the Probate Court Office Records Department or online http://jeffcoprobatecourt.com You must be 18 years of age or older to apply. You must be a resident of Jefferson County to apply. Proof of residence will be verified through the Board of Registrars or with two forms of proof of residence such as Driver’s License, utility bill, rent receipt. Applicants need to complete the application listing all information as it appears on the Voter Registration or Driver’s License. You must have three separate references from Jefferson County residents who will attest to your integrity and suitability. References must sign in their own handwriting and include their home address. NOTE: A renewal does not require the three references, its renewal takes place within 30 days before or after expiration. You must obtain a $25,000.00 Surety Bond. You can get it at almost any insurance company. Be sure to have your signature notarized on the Bond in the Oath of Office section within the Bond. You must submit your Bond and application within 30 days of the “Seal Date” on the Bond, or have the Seal Date updated by your Bonding Company (Insurance Co.).If your Bond/Application is returned to you for corrections, you must resubmit it after corrections are made in order for your Commission to be processed. Once you have completed your application and have your Bond properly notarized, either mail or bring the application, Bond, and a $42.00 filing fee check made payable to the “Judge of Probate”.You will receive a Certificate of Commission effective on the date you return the required documents. The commission is good for four years from that date. To view or print the APPLICATION for Appointment as a Notary Public, click here.
Source: Notary Instructions | Probate Court of Jefferson County, Alabama
FHA LOAN LIMITS IN BIRMINGHAM, Al.
In addition to covering your home, homeowners insurance also covers four more things:
For example, if you have $100,000 in homeowners insurance and someone drives into your fence, the policy would cover 10% or $10,000 in repairs.
Sometimes policies exclude damage to outbuildings, landscaping, or hardscaping caused by a particular peril (like wind).
A home insurance policy covers a lot of your personal belongings, but not necessarily everything.
You’ll need additional insurance if you have many expensive items like jewelry, furs, or antiques.
Policies will either state that your personal belongings are insured for replacement cost or cash value.
Replacement cost means that the insurance company will pay the full cost of replacing an item (such as the laptop mentioned above, or a sofa damaged in a fire) once you show a receipt. Cash value means the insurance company will issue you a check for the amount that the laptop or sofa would have been worth when it was stolen or destroyed.
III. Remember your Additional Living Expenses will have limits. You are still on a budget. If you exceed that budget you may have to come out of pocket. Your policy will have limits on how long you stay and how much you can spend.
We’re getting closer to storm season. 2017 was devastating. Check with your agent and make sure you are prepared.
Remember; “It’s A Numbers Game”!!!
Michael Gould
In addition to covering your home, homeowners insurance also covers four more things:
I. Your outbuildings, landscaping, and hardscaping. If you have outbuildings i.e. shed, fence, or landscaping, your homeowner’s policy most likely covers those for up to 10% of your policy amount (5% for plants trees, and debris removal).
Example, if you have $100,000 in homeowners insurance and someone drives into your fence, the policy would cover 10% or $10,000 in repairs.
Sometimes policies exclude damage to outbuildings, landscaping, or hardscaping caused by a particular peril (like wind).
II. Damage or loss of your personal belongings.Your homeowner’s policy covers your family’s belongings, even when you take them out of the house. If your child heads to college with a laptop and it’s stolen, that’s probably covered by your homeowner’s insurance policy.
A home insurance policy covers a lot of your personal belongings, but not necessarily everything.
You’ll need additional insurance if you have many expensive items like jewelry, furs, or antiques.
Policies will either state that your personal belongings are insured for replacement cost or cash value.
Replacement cost means that the insurance company will pay the full cost of replacing an item (such as the laptop mentioned above, or a sofa damaged in a fire) once you show a receipt. Cash value means the insurance company will issue you a check for the amount that the laptop or sofa would have been worth when it was stolen or destroyed.
III. Remember your Additional Living Expenses will have limits. You are still on a budget. If you exceed that budget you may have to come out of pocket. Your policy will have limits on how long you stay and how much you can spend.
IV. Injuries or accidents at your house.Homeowner’s insurance coverage includes liability – meaning it covers you when you or your family members cause injuries or damage. This coverage also pays when your dog bites someone (medical payments) or someone falls and injures themselves.
We’re getting closer to storm season. 2017 was devastating. Check with your agent and make sure you are prepared.
Remember; “It’s A Numbers Game”!!!
Michael Gould
The sale and purchase of a home are one of the most significant events that any person will experience in his or her lifetime. It is more than the simple purchase of housing, for it includes the hopes, dreams, aspirations, and economic destiny of those involved.
The Law
Civil Rights Act of 1866: The Civil Rights Act of 1866 prohibits all racial discrimination in the sale or rental of property.
Fair Housing Act: The Fair Housing Act declares a national policy of fair housing throughout the United States. The law makes illegal any discrimination in the sale, lease or rental of housing, or making housing otherwise unavailable, because of race, color, religion, sex, handicap, familial status, or national origin.
Americans with Disabilities Act: Title III of the Americans with Disabilities Act prohibits discrimination against persons with disabilities in places of public accommodations and commercial facilities.
Equal Credit Opportunity Act: The Equal Credit Opportunity Act makes discrimination unlawful with respect to any aspect of a credit application on the basis of race, color, religion, national origin, sex, marital status, age or because all or part of the applicant’s income derives from any public assistance program.
State and Local Laws: State and local laws often provide broader coverage and prohibit discrimination based on additional classes not covered by federal law.
Responsibilities
The home seller, the home seeker, and the real estate professional all have rights and responsibilities under the law.
For the Home Seller: As a home seller or landlord you have a responsibility and a requirement under the law not to discriminate in the sale, rental and financing of property on the basis of race, color, religion, sex, handicap, familial status, or national origin. You cannot instruct the licensed broker or salesperson acting as your agent to convey for you any limitations in the sale or rental because the real estate professional is also bound by law not to discriminate. Under the law, a home seller or landlord cannot establish discriminatory terms or conditions in the purchase or rental; deny that housing is available, or advertise that the property is available only to persons of a certain race, color, religion, sex, handicap, familial status, or national origin.
Michael Gould
(205)902-2283
E21 Realty
4000 Southlake Parkway #200
Hoover, Al.35244
Twitter-@lmgllc6
“Don’t go into court without a lawyer or a real estate deal without a REALTOR”
MichaelGouldGroup.Com
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