Connecticut Real Estate Journal

What is Title Insurance and Do You REALLY Need It?

Like all other forms of insurance, the primary purpose of title insurance is to shift risk from one party (the home buyer) to another (the title insurance company) in exchange for a fee. However, unlike other forms of insurance, such as home, auto, or life insurance, the premium for title insurance is only paid once at the time of your closing.

Title insurance protects homeowners against losses resulting from matters affecting their title to real property. If you're buying your home with a loan from a bank, then chances are that the lender will require you to purchase a lender's policy that will only protect their interests. The good news is that buying an additional owner's policy is usually incredibly cheap, if you do so at the time that you purchase the lender's policy.

Buy a Home for 50% of the Appraised Value via the Housing and Urban Development (HUD) "Good Neighbor Next Door" Program:

If you're a law enforcement officer, teacher, firefighter or emergency medical technician (EMT) and you're thinking about purchasing a new home to live in yourself, then you NEED to learn about a program offered by the Housing and Urban Development (HUD) agency called "Good Neighbor Next Door".

In an effort to strengthen America's communities, this program offers HUD owned single family (one-unit) homes to eligible participants at an ASTONISHING 50% discount!  That is NOT a misprint... if you're an eligible participant, then you can get a 50% discount off the HUD appraised value.  For example, if HUD lists a home at $100,000, you can buy it for $50,000 provided, you occupy the home as your personal residence for the required occupancy period. If you qualify for any FHA-insured mortgage program, your downpayment is only $100 and you may finance closing costs!

To find out more information, visit the following link: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/reo/goodn/gnndfaq

 - Mike Gregor | Realtor®

6 Steps to Your Home Purchase: A Guide for First Time Home Buyers

Buying a home can be a very overwhelming and stressful ordeal for most first time home buyers. Unfortunately, the vast amount of information that's readily available in today's fast paced world doesn't make things any easier! In fact, home buyers are increasingly faced with conflicting information, tips, and advice, often from sources who are motivated by their own hidden agenda.