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Description of  Home Finance Basics The American Guide to Personal Finance Volume III

B0CW1BT6XX EPUB Welcome to "Home Finance Basics," a comprehensive guide designed to help you navigate the complex world of home finance. Whether you're a first-time renter, looking to buy your dream home, or considering refinancing options, this book is crafted to provide you with the knowledge and tools needed to make informed decisions about your housing journey. The path to securing a comfortable living space can be filled with financial hurdles and intricate processes. From deciphering rental agreements to securing a mortgage, and from evaluating home insurance to understanding the nuances of property taxes, every step requires careful consideration and planning. This book is structured to guide you through each phase of the home finance journey. Transitioning from renting to buying is a significant step, often accompanied by a mix of excitement and anxiety. We will guide you through getting pre-approved for a mortgage, understanding different types of loans, and navigating the housing market. You'll find strategies for making competitive offers, tips for negotiating with sellers, and advice on closing the deal. Throughout this book, we emphasize the importance of making informed financial decisions. Each chapter includes real-life examples, practical tips, and checklists to help you stay organized and confident in your choices. Embark on your home finance journey with the assurance that you are equipped with the knowledge to achieve your housing goals, whether renting, buying, or owning. "Home Finance Basics" is your trusted companion, offering clarity in the often confusing world of home finance. Table of Contents: Contents Copyright Dedication Preface Housing Buying Homes and Renting Homes Buying a Home Advantages of Buying a Home Disadvantages of Buying a Home Renting a Home Advantages of Renting a Home Disadvantages of Renting a Home Home Price Changes Subprime Mortgages Mortgage-Backed Securities Types of Home Ownership Homeowner Associations Condominium (Condos) Cooperatives (Co-ops) Planned Unit Developments (PUDs) Townhouses Master-Planned Communities Determining HOA Health Affording to Buy Family Help Qualifying for a Mortgage Mortgage Calculator Other Expenses Rent-to-buy Home Auctions How to Find a Home Brokers and Agents Finding an Agent Real Estate Attorneys Potential Obstacles to Home Buying The Steps to Buying a Home Finding a Mortgage Prequalification for a Mortgage Fannie Mae Freddie Mac Ginnie Mae Fannie, Freddie, and Ginnie, in sum The Federal Home Loan Banks Homebuying Assistance The Mortgage Application Commitment Letter Your Credit and Mortgage Shopping Mortgage Application Tips The Closing The Closing Documents Closing Statement Escrow Escrow Overcharges Stop Paying Escrow The Cost of a Mortgage Fixed-Rate Mortgages Adjustable-rate Mortgages Other Mortgage Types Negative Amortization Refinancing a Home Loan Falling Behind Your Home as an Investment Market Home Value Appraised Home Value Assessed Home Value Equity and the Deed Renting Out a Home You Own Home Equity Loans and Credit Reverse Mortgages Mortgage Theft and Fraud Home Title Theft Home Insurance Selling Your Home For Sale By Owner Preparing for Sale Home Won't Sell Profit and Loss Home Warranties Taxes on the Home Sale Conclusion