Home Equity vs a Line of Credit

While the credit crunch has made borrowing for… or against… your home more difficult, home equity loans and lines of credit remain popular for those with equity.

Stacy Johnson explains what these loans do and if you should consider them. (video runs 1:27)

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Home Inspections: What Types Are There?

Professional home inspectors examine existing homes using professional standards as a measure to accurately report their condition to parties involved in a real estate transaction.

There are many types of property inspections offered by home inspectors, depending on your needs.  These include:

• Pre-Listing Inspections
• Pre-Purchase Inspections
• New Construction Inspections
• HUD/FHA Inspections
• Multiunit Inspections
• Annual Maintenance Checkup

When purchasing a home, many home buyers have saved literally thousands of dollars through information provided by the home inspector.  Home owners who have owned their homes for several years can even benefit from a home inspector's knowledge of maintenance and repairs, and experience to avert potential problems.  In many areas where disasters have occurred, homeowners have relied on inspectors to help them identify any damage resulting from storms, earthquakes, etc., some of which could be hidden if you're not trained to look for them.

Talk to us about home inspections.  We'll help you decide what type of inspection is right for you, depending on your circumstances.

Have you ever purchased a home without getting the recommended home inspection done prior to buying?  Leave us your comment if you've had a good or bad experience concerning home inspections.  We'd love to hear from you.  Your email address will never be published here, so your privacy is maintained.

Renter's Insurance: Why You Need It

So you're renting a house or condominium, and think the owner of the property has insurance, why would you need any?

The homeowner's property insurance policy that covers the physical dwelling you live in does not cover your possessions inside of the building.  A renter's insurance policy (also known as a tenant's policy) provides protection for your personal property, such as furniture or electronic equipment, in case of perils like fire, theft or wind damage from a hurricane.

Renter's insurance provides liability protection.  Unintentional bodily injury or property damage that you cause to others could be as financially damaging to you as a fire in your apartment.  Liability protection against accidental occurrences (such as a visitor slipping on your wet kitchen floor and breaking an arm) comes standard with renter's insurance policies.  Some renter's insurance policies will even include legal defense costs, should you need legal representation to defend you due to a liability claim.

Renter's insurance will also cover medical payments, including medical expenses for non-residents.

Compared to what you could stand to lose in the event of a serious loss, renter's insurance is cheap.  Check online, or check your Yellow Pages.  Most insurance companies offer renter's insurance, and you'd be playing Russian Roulette with your finances by NOT having it.

Consumer Sentiment: Plunges to a 26-Year Low

Consumer sentiment plunged to its lowest level in 26 years in early April, according to a report released recently by the University of Michigan/Reuters, as worries about the economy, unemployment and inflation deflated hopes for the future.

The U.S. consumer sentiment index fell to 63.2 in early April from 69.5 in March.  Sentiment is at its lowest level since March 1982.  Economists surveyed by MarketWatch were looking for an April result of 68.8.

Where is your "consumer sentiment" right now?  We'd love to hear from you on this topic.  Just click the comment link below and give us your feedback.

Sub Prime Mortgages: Not So Easy Anymore

If your credit isn't the best, you might be familiar with sub-prime loans: they're the kind with a high rate for people with low credit…

With the mortgage industry suffering it's worst setback in decades in the past 12 months, the landscape is changing.  Money editor Stacy Johnson explains in this 1:33 video.

Leave us your comments or thoughts on the mortgage industry and the current real estate market.  We'd love to get your feedback.  Just click the comment link below and give us your feedback.