Thursday, September 10, 2020 / by Michele Barwick
Hurricane season officially kicked off on June 1st and goes through November 30th. Hurricanes can seem scary but being prepared will help keep your family and property safe. When a storm is approaching and becomes a potential threat to your area, the National Weather Service will issue watches and warnings to keep you up to date on how to prepare.
A "hurricane watch" indicates the possibility that you could experience hurricane conditions within 36 hours. This watch should trigger your family's disaster plan and protective measures should be taken, especially those actions that require extra time such as securing a boat, leaving a barrier island, etc. Many of us live on a barrier island which means we need to start preparing now, if not sooner.
A "hurricane warning" indicates that sustained winds of at least 74 mph are expected within 24 hours. Once this warning has been issued, your family should be in the process of completing protective actions and deciding the safes ...
Tuesday, August 25, 2020 / by Kelly Bruno
Typical ways to purchase real estate include Conventional loans, FHA loans, VA loans and cash. But not all condos are created equal; some of these are not an option with the exception of cash.
Some condos can only be bought with cash. This can happen for a number of reasons:
The condo does not carry the right insurance that a lender requires
The ratio of renters to onsite owners is too high
The condo is involved in a litigation of some sort, among other things
The majority of condos are purchased with a conventional loan. The required amount of a down payment can range from 10% up to 25% (there are even a few lenders that will accept 5% down). This amount will depend on the lender and how the Buyer intends to use the property. In addition, you must factor in whether or not the association is “warrantable”, meaning a complex must be in good shape – both physically and fiscally.
FHA loans offer low down p ...