Terry Prescott Blog

Mortgage Knowledge

Must Know For Mortgage
Posted by Terry Prescott on April 25, 2011 in  Mortgage Knowledge
Many Borrowers Lack Mortgage Knowledge A recent survey by Zillow Mortgage Marketplace found that borrowers who received a home loan in the past five years spent, on average, five hours researching their options. That’s about half the amount of time borrowers spent researching a car purchase (10 hours). What’s more, nearly one-third spent two hours or less, according to Zillow. While a home purchase is typically one of the largest investments people make, the lack of mortgage knowledge can be a c... read more
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Approved

1099
Posted by Terry Prescott on April 18, 2011 in  Landlords and Small Businesses
Landlords and Small Businesses  No Longer Subject to Expanded Reporting Requirements for 1099s Congress approved legislation to repeal a provision that as of Jan. 1, 2011, required landlords to file a 1099 form with the Internal Revenue Service reporting payments of $600 or more to another service provider in a year. This requirement would've applied to all businesses in 2012, which would have also included payments made for goods and to corporations. President Obama is expected to sign the bill, as he indic... read more
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Lead Paint Removal

Lead or Not
Posted by Terry Prescott on April 14, 2011 in No Category
Lead Paint Removal: Options and Costs By: Jan Soults Walker If testing reveals the presence of lead-based paint in your pre-1978 home, here are a few of the options at your disposal for removing it.   What does it cost? According to the EPA, professional lead-based paint removal for the following three options costs about $8 to $15 per square foot or about $9,600 to $30,000 for a 1,200- to 2,000-sq. ft. house. The average removal project costs about $10,000. Lead paint removal options Encapsulation. Typ... read more
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Avoid Sellers' Worst Mistakes

Mistakes
Posted by Terry Prescott on April 12, 2011 in  Selling
Daily Real Estate News  |  April 12, 2011  |   addthis_pub = 'rmostaff'; addthis_logo = 'http://www.addthis.com/images/yourlogo.png'; addthis_logo_background = 'EFEFFF'; addthis_logo_color = '666699'; addthis_brand = '; addthis_options = 'delicious, digg, favorites, facebook, fark, google, reddit, magnoliacom, newsvine, furl, yahoo, technorati, twitter, icerocket'; document.write(' Share'); Share   Avoid Sellers' Wors... read more
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Sharks

Are Fishing
Posted by Terry Prescott on April 07, 2011 in  Mortgage
Report Unveils Tactics of Loan Scammers One in nine home owners are more than 90 days behind on their mortgage payments, which has prompted loan modification scams that promise to rescue home owners from foreclosure doom to skyrocket. Four fair housing organizations released findings this week uncovering some of the most popular loan modification scam tactics after a yearlong investigation of about 80 companies. According to the report, some of the common scam tactics used were: 55 percent requir... read more
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