Home not selling? You are thinking of renting it out and moving? Think Again!

The way loans used to work don’t work that way. That’s what I did back in 2001 or so when the market in Utah was depreciating. I just moved out of my home, leased it out and bought a new one.

FannieMae changed their rules though. You can't do that anymore. Why the change? There was something mysterious going on with many buyers this past year. They were upside down in their home, so they moved out, bought a home and left their home behind them. So FNMA changed the rules.

Heres the new rules:

If you move out of your current home and into another, you have to qualify for both payments. (Old days they would let you count the rent..but not anymore.

Not only would you…

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Home not selling? You are thinking of renting it out and moving? Think Again!

The way loans used to work don't work that way. That's what I did back in 2001 or so when the market in Utah was depreciating. I just moved out of my home, leased it out and bought a new one.

FannieMae changed their rules though. Cant do that anymore. Why the change? There was something mysterious going on with many buyers this past year. They were upside down in their home, so they moved out, bought a home and left their home behind them. So FNMA changed the rules.

Heres the new rules:

If you move out of your current home and into another, you have to qualify for both payments. (Old days they would let you count the rent..but not anymore.

Not only would you have…

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How does a short sale or foreclosure affect me and my credit?

That is the question that many people are asking. Times are statistically tough for many during this recession and people want to know what their options are and what they need to do. Im not a lawyer but this is what I am seeing in the loan world and in the credit arena.

My rule of thumb is always the following when it comes to making payments:

1. Always make your payments and fulfill your obligations.

2. If things are tough and there is no way out, call your lender BEFORE things are bad and before late payments are made. Always call your lender if you are going to be late. This is the same rule with landlords and tenants. The tenants that call the landlord and tell them things…

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Who’s in your Home and What are they really doing there?

Our local Realtor’s association posts warnings time and time again about people who have been stealing medicine in cabinets, staking out homes, or are just up to no good.

3 Ways in keeping your home safe from these types of predators.

1. Utilization of a REALTOR Keybox. (Dont use a code keybox.) Most REALTORS utilize a keypad that they have to update through their computer weekly. If they dont update the keypad they cant gain access to homes. They also are given their own pin number to use the keypad. Whenever someone accesses your home via a REALTOR Risco Keypad system, it is logged for the listing agent and the board to know who gained access. This way you will only have authorized people…

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Strangers in your Home, when it is for sale! Watch out! Who's in your Home and What are they really doing there?

Our local Realtor's association posts warnings time and time again about people who have been stealing medicine in cabinets, staking out homes, or are just up to no good.

3 Ways in keeping your home safe from these types of predators.

1. Utilization of a REALTOR Keybox. (Dont use a code keybox.) Most REALTORS utilize a keypad that they have to update through their computer weekly. If they dont update the keypad they cant gain access to homes. They also are given their own pin number to use the keypad. Whenever someone accesses your home via a REALTOR Risco Keypad system, it is logged for the listing agent and the board to know who…

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Zillow has become quite popular for many people looking up to see what their home is worth. But is it accurate in Utah?

Utah is a NON disclosure State while other states are Disclosure states. What does this mean?

Many other states have laws that require when someone sells their home that they have to report to the state what the home sold for. This is called a disclosure state. In these states Zillow can pull off information from the state records and come up with a fairly close method of knowing what homes are selling for in that area.

Utah on the other hand is a Non disclosure state. Our state sends you in the mail a form saying they are required by state law to find out what you sold your home for. Many people just throw this away because we…

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