Anne Arundel County Real Estate

From the Real Estate Center at Texas A&M University we have this little news story:

COLLEGE STATION, Tex. – If universal design sounds like another controversial approach to teaching grade school science, guess again. It is actually one of the latest, most practical trends in home design and one that is gradually gaining widespread support.

Universal design refers to buildings that are made to be accessible for people of all ages, regardless of their physical condition. A growing number of cities across the country now require that homes be constructed with this principle in mind.

For example, according to the most recent issue of Tierra Grande, the quarterly journal published by the Real Estate Center at Texas A&M University, many homes now feature smooth ground surfaces at entryways, wide interior doors and hallways, handles with levers rather than knobs, and at least one full bathroom with maneuvering space on the first floor.

It’s all a part of what is known as ‘visitability,’ says Dr. Jennifer S. Evans-Cowley, assistant professor of city and regional planning at Ohio State University.

“If a home meets visitability standards, people with mobility impairments can live in or visit the home without encountering obstacles and inconveniences,” she said.

Incorporating these features allows a person with a sprained ankle to recover in the downstairs of a home without having to climb stairs to use the restroom or sleep. A grandmother’s visit is made easier by an entrance with no steps and wide doorways that accommodate a walker or wheelchair.

While visitability does not guarantee complete access within a home, Evans-Cowley says it does ensure that public spaces — entrances, hallways, bathrooms — are accessible to someone in a wheelchair. It would also allow a nondisabled person to continue living in a home if he or she became disabled.

Evans-Cowley points out that people without disabilities can also benefit from these standards. For example, wide, level entrances make moving furniture in and out of buildings easier, and doors with lever handles make it much easier to enter a house with an armful of groceries or while carrying a child.

“Whether it’s an entire home or just a kitchen or bathroom, incorporating universal design and visitability improves living spaces for all people throughout their lifespans,” Evans-Cowley said.

Financial troubles could be in store for thousands of homeowners if the dire foreclosure forecasts come true. But homeowners facing foreclosure do have options, says Judon Fambrough, a lawyer with the Real Estate Center at Texas A&M University.”They can pay off the debt before the foreclosure sale begins, refinance the debt with another lender, or sell the property and pay off the debt,” he said. “However, these options may not be practical for homeowners who lack funds, good credit, or the time necessary to sell the property before foreclosure.”

Fambrough says another, lesser-known option is available. The homeowner can request a deed in lieu of foreclosure (DILF).

A DILF conveys the property back to the lender in exchange for cancelling the debt. The lender’s consent and cooperation are required. DILFs offer several advantages over traditional nonjudicial foreclosures under deeds of trust, the most significant of which is that the homeowner’s credit is unaffected.

In addition, Fambrough says DILFs are quicker, requiring fewer than the minimum 41 days needed to foreclose on a home under a deed of trust. DILFs are also more confidential and less expensive.

“The major costs of a DILF are deed preparation and the recording fee,” Fambrough said. “But lenders may require the debtor to pay for a title search and an appraisal before agreeing to the DILF.”

The title search determines whether there are other liens on the property, and an appraisal substantiates the property value. Often, if a property has more than one lien, or if the property value does not greatly exceed the amount of the debt, lenders will not agree to the DILF.

Under certain circumstances, a lender can void the arrangement or foreclose even after agreeing to a DILF.

“The arrangement could be voided if there was a lien or encumbrance on the property that the homeowner did not disclose or that the lender had no knowledge of,” Fambrough said.

Fambrough points out that, in some cases, homeowners may find foreclosure a more attractive option than a DILF.

“If the property value exceeds the debt, and the debtor decides to foreclose, any excess revenue generated by the foreclosure sale will go to the debtor,” he said. “This is not the case with a DILF. Debtors forfeit their equity.”

Before executing a DILF, Fambrough recommends the homeowner talk to a financial advisor about possible income tax consequences that could result from the debt forgiveness.

Dealing with pre-foreclosure is not something that you want to go through. After all, there is nothing good about this situation. But with that being said, pre-foreclosure is not quite as bad as the actual foreclosure process. When your home is in pre-foreclosure you still have a chance to make some changes before things get too bad on you. Of course, you need to be aware of your options before you can take advantage of them.

For many people, pre-foreclosure is seen as the last time that they have to get out without losing everything. In other words, if your home is in pre-foreclosure the lender does not have the right to take it back just yet. For this reason, you will want to look into selling your home during pre-foreclosure. This is more than likely your best bet for one very important reason. Simply put, when you sell your home during pre-foreclosure you will have the chance to get recoup some of the money that you would have otherwise lost. You may still end up getting the bad end of the stick, but when you sell during pre-foreclosure you will at least get something out of the deal. This is much better than the foreclosure process when your home will be taken off of you, and you end up with nothing.

To learn about your pre-foreclosure options, get in touch with your lender. There is a good chance that that will be willing to work with you in order to set up the situation that is best for both parties. Although you may not want to listen to what they say, it will do you a lot of good in the long run. The fact of the matter is that your bank does not want to go through the foreclosure process either. For this reason, they will do whatever it takes to help you do what is best during pre-foreclosure.

As you can see by now, pre-foreclosure is not quite as bad as when your home goes into foreclosure. But you need to remember that pre-foreclosure is only one step away from that happening. This means that you need to act fast, no matter what you decide on. If you wait around too long, your chance at every pre-foreclosure option will be lost, along with your home.

Getting started with a rent to own property is not as hard as you may think. The most difficult part of this process is finding a property that is being offered as rent to own. As you can imagine, there are a lot of properties that are for rent and just as many that are up for sale. But when it comes to finding a rent to own property, you may have your hands full. This is especially true depending on the part of the country that you live in.

As mentioned above, the first step to getting started with a rent to own property is to find one in your area that you are comfortable with. The best way that you can do this is by using the internet as well as local resources such as the newspaper. Once you find a good resource that lists out rent to own properties, you should be well on your way.

Once you have located a rent to own property, the next step is to get in touch with the landlord, and then take a closer look at the property. This will give you all of the information that you need in order to make an informed decision. Remember, you can move into a rent to own property, but decide to leave if it does not suit your needs as you thought it would.

If you are ready to sign an agreement with the landlord, make sure that you carefully read over the contract that you are presented. You must keep in mind that your rent to own contract will govern how things move forward from day one. For instance, this contract will tell you how much you will pay each month, when the lease is up, etc. You need to make sure that you are completely comfortable with each aspect of the contract before you decide to move forward with a rent to own property.

When it comes to getting started with a rent to own property, the steps pretty much move forward in a linear fashion. As long as you are not in a hurry, you will be able to find the perfect rent to own property sooner or later.

Dealing with a contractor is not always the easiest thing to do. After all, they have their own way of doing things, and you have to respect that. But with that being said, since you are the buyer, you need to make sure that you get what you want. If you leave every last decision up to your contractor there is a good chance that you will be disappointed with the end result. When it comes down to it, their tastes may be much different than yours. You need to know how and when to deal with your contractor so that the two of you can stay on the same page throughout the project. When you succeed in doing this, you will surely end up with something that you are proud of.

The first time that you will have to deal with your contractor is when you hire them. It is very important that you get off to a good start, so make sure that you are professional from day one. If you have any questions early on, make sure that you ask. It is much better to ask questions of your contractor early in the process so that they know what you are expecting. Remember, your contractor will not be able to read your mind. They will rely on you for feedback, input, etc.

During the project, it is very important that you let the contractor do their job. The biggest mistake that you could make is to constantly call your contractor in order to get updates, or worse yet, complain about the job. Although contractors will not have any problems talking with you throughout the project, you need to make sure that you are not taking this overboard. Your contractor is going to work on the job as specified, and you need to respect that.

Of course, if you think that there is a problem, it is your right to touch base with your contractor. But when doing this, make sure that you are not confrontational. Simply explain your position to your contractor, and ask them for an explanation. Chances are that they will be able to give you an answer that will suit your needs.

Dealing with your contractor should be a professional relationship from day one. You are paying them to do a job, and you have every right to want it done right. As long as you give your contractor the space to finish the job, you should be pleased with the end result.