So, you’ve seen on the internet or on the dailies your dream house? Well, don’t jump the gun too fast. Before you get a mortgage for that dream house of yours, you have to know first your credit score. Yes, the dreaded credit score.

The worst credit score is about 300 while the best ranges around 850 according to FICO by Fair Isaac Corporation. If you wish to obtain a mortgage for your house, and I mean a good one, you should have at least scored 600 in your score card. Now what makes your credit score low? Past loans that aren’t paid on time, existing credit card debts and the like contribute in making your credit score low.

What can you do? Obviously, pay your debts. You should pay your bills on time and by doing so, the dream house you’ve been craving for will be within reach.

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NEW YORK (CNNMoney.com) — During the housing boom, home sellers were in the driver’s seat with real estate agents courting them – often at bargain commission rates. But now that the bubble has burst, the tables have turned.

In 1991, the average commission rate was 6.1 percent, according Steve Murray, of Real Trends, which tracks the brokerage industry. The rate inched down to 5.4 percent by 2001 and by the end of 2005, it stood at 5.02 percent.

Industry insiders expected further declines with the competition of discount and Web-based brokerages. In early 2006, the chairman of Re/Max, Dave Linder, told Real Trends that he expected a drop into the 4 percent range within five years.

But when home sellers found themselves with houses sitting on the market, they became increasingly amenable to paying higher commissions. Real Trends reports the average commission reversed its course and climbed to 5.18 percent in 2006, and it looks like it’s going to end 2007 with another rise.

“The thing that changed,” said Murray,” is that the market flipped. There was a flood of listings on the market and suddenly they weren’t as valuable. Agents were saying, ‘I’m not going to drop my commission rate as readily.”

Learn more: money.cnn.com

Before you purchase a condominium policy, check with your condominium association to make sure you’re buying the insurance you need.

• Find out what parts of the interior are covered by your condo association’s insurance and what items are your responsibility. Then make sure that you have adequate insurance to cover repairing or replacing the items for which you are responsible.
• The contents of your condominium are not insured under the association’s master condominium policy. So, estimate the cost to replace your contents and buy insurance for that amount.
• Your association’s master condominium policy does not provide any liability coverage for your unit or your personal exposures. So, make sure you purchase adequate liability insurance, usually $300,000 to $500,000 or more, depending on your situation.
• If your association has insufficient funds, you may be assessed a proportionate share to pay for damage to your building and other situations. Check to see whether the condominium insurance you purchase covers these assessments. You may wish to buy Loss Assessment Coverage, which is available in amounts of $5,000, $10,000 or more.

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The very low mortgage rates may have more people opting for refinancing of their homes but with no end in sight for this recession, defaults are high at a rate of 62%. This alarming relationship is in fact due still to the stagnant economic conditions that exist all over the globe. Jobless rates are still on the rise and people without jobs cannot finance their homes due to more pressing needs. Companies continue to trim their workforces as they try to stave off bankruptcies that have been hitting businesses the world over. And with jobless benefits being so meager, barely enough to sustain daily life, there may be more defaults to come in the future as we ride on this uncertain economic times.

The saying that says, “Where there’s muck, there’s gold”, so is it in the housing market where local banks are fueling the home sales markets with moves to sell out their excess of foreclosed homes that fell victim to ill-loans approved by corrupt loan officers. The sales of such homes turns tangible assets back into fluid currency for use in other business they have to partake in. (more…)

Bad home loans are sending tons of banks out of business, unable to recover from lost capital that went to fuel the housing market when it boomed a few years back. Now, unable to recover investments into housing developments, these small-scale banks that have minimal cash reserves unlike national or multinationals have little to ask help from, facing default on their business should they not get enough help from the Federal government. (more…)

There are a lot of DIY home security systems on the market that allows one the flexibility and security desired. There are good ones that sell for bargain prices and there are a lot of bad ones so ask your insurance form for recommendations as to the brands and types that would make a difference in your insurance coverage. Most generally require perimeter warning systems that detects intruders well before they get to the house itself. Proximity lighting and sensors are quite cheap and deter thieves for it makes them vulnerable. Sonic sensors that sends out sound waves through an open space such as a garage, detecting the slightest movement or change and sounding an alarm.
Before you decide on placing a system, as stated, try to get some tips from your agent or insurance firm as to which they prefer and what amount of security they need fro you to get necessary perks such as discounts and other offers. They can even have a partnership with certain private security providers which allows the firm to keep tabs on your property real-time thus increasing the security of your home.

As if the situation cannot get worse, the economy dips ever lower dragging everything with it. The recession is causing problems with the real estates market to stay put and homes are still falling victim to the sub-prime market lending collapse. Foreclosure is a constant threat to people who fail payments on their mortgages as they run the risk of losing their jobs. The market has maintained it’s place yet with prices still going down hill, developers are offering more incentives.
Mortgage and Home crimes are up with more than 400 cases filed over the last few months. People are advised to be aware of the problems and to report any suspicious paperwork coming to your home indicating you have made payments even if you are still to do yours.

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Many attorneys who limit their practice to estate planning are values-based, relationship-driven, client-centered and counseling-oriented. And the good ones are willing to work together with other professionals on your behalf. They understand that thorough estate planning involves more than just legal advice. The key is to find those attorneys who meet this description.

So where do you find these rare creatures? How do you know if you’re dealing with the right kind of attorney? The right kind of attorney will have an orientation toward relationship-building and counseling rather than mere document preparation. The first thing he or she will offer is the ability to listen carefully to not only your goals – but also your hopes, dreams, and aspirations for yourself and your loved ones. The attorney will carry on a sensitive dialogue that will enable you to make clear your wishes to maintain control over your affairs, to be cared for properly in the event of a disability and to provide meaningfully for your loved ones after you are gone.

In this world, all you need is creativity and determination. This saying is applicable indeed to Chase Nation, one of the premier agency companies in the real estate world.

So what is up with Chase Nation? Recently, Chase Nation took advantage of the internet in a whole lot manner: they joined a popular social networking site called MySpace. Yes, the ever-growing and ever-popular MySpace. MySpace claims that they have over a hundred million users and Chase Nation thought that they might as well capitalize on that user count. Chase Nation said that the reason why they signed up on MySpace was for the agent to easily hook up with users (the interested parties I guess).

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