|
If you want to find out if a lien has been filed against you, you
can search the Official Records in your County Comptroller's Office.
Nonprofit credit counseling agencies warn consumers to beware of credit repair organizations; known as credit clinics, they
promise to repair negative reports. Only time — and a good track
record - can heal negative credit reports.
You can tell the difference between legitimate services and
clinics by the fees they charge and the promises they make, according to the nonprofit National Center for Financial Education
in San Diego, Calif.
Nonprofit services charge minimal fees, usually under $25,
and they will work with the client to re-establish credit.
Clinics generally charge much higher fees, and they may
promise to remove such records as bankruptcies and liens from a
negative report. Accurate information cannot legally be removed
from a credit report. Federal law mandates the time periods that
accurate negative information must remain on a report.
You can, however, correct mistakes on your report. For valid
problems, you can provide a written explanation to the mortgage
lender telling what caused the delinquency and what steps were
taken to resolve the problems. If your payments have been made
on time for a year or more, your credit probably will be satisfactory, according to the Mortgage Bankers Association of America.
To correct errors, call or write the credit bureau and explain
the error. The bureau will check with the source of the information and send you an update. The process can take up to 30 days,
according to Experian, one of the nation’s largest credit-reporting
agencies.
If you still disagree with the information, you can add a statement to your credit report.
The National Center for Financial Education offers a guide to
improving your credit. To order, send $10 to NCFE Credit Guide,
P.O. Box 3914, San Diego, Calif. 92163.
For credit counseling, you can call the nonprofit Consumer
Credit Counseling Service. To locate the organization in your area, call 1-800-388-2227.
TOP
Just as selling a home brings emotional stress, so does the decision to buy a house. Here are some tips for how to cope:
-
Be prepared. The more you know, the less frightening or intimidating the situation can be.
-
Don’t be afraid to raise questions and demand answers from
real estate agents, mortgage officials and loan closing officers.
-
Get help from competent professionals such as lawyers,
property inspectors and sales agents.
-
Lookout for No.1 —you.
-
Review decisions carefully. Make a list and evaluate positive
and negative aspects of the purchase.
-
Communicate your fears and uncertainties to the professionals helping you with the purchase. They’re the ones you’re
paying to smooth out the rough spots.
-
Have your priorities firmly in mind. This helps eliminate uncertainty.
-
Don’t blow little irritations out of proportion.
TOP
-
Ask friends, coworkers and relatives for names of real estate
attorneys they have used. Word of mouth can be the best way to
find a good attorney.
-
Contact the The Florida Bar Association for names of attorneys who
specialize in real estate. (click here for The Florida Bar find a lawyer service)
- Check the telephone book Yellow Pages. Interview several attorneys. You are employing him or her,
and you have a right to be comfortable with the attorney. You
don’t owe the attorney anything until an attorney-client relationship is created. Here is a sampling of questions:
-
Have you participated in real estate transactions, and have
you taken them to closing?
-
How long have you been practicing real estate law?
Are you familiar with Chapter 475, Florida Statutes, the Real
Estate License Law?
- If a real estate broker or agent is involved in
the transaction, it is helpful to have an attorney who knows what
brokers are supposed to do. For details about the law, call the
Florida Real Estate Commission at 407-245-0848.
TOP
-
Drive around the builder’s subdivision and ask residents how
they’ve been treated.
-
Ask for references from the builder’s subcontractors. If the
builder doesn’t pay his or her bills, subcontractors can put a mechanic’s lien on the house, making the homeowner responsible
for the bill.
-
Obtain commercial credit reports on builders and developers from companies such as Dun & Bradstreet, based in New York.
Typically, banks and mortgage companies can get them for consumers for fees ranging from $10 to $15.
-
Be wary of contractors who say they don’t have enough
working capital to get a job started.
-
Find out if a builder is licensed and whether any complaints
have been filed against a builder by calling the Florida Construction Industry Licensing Board at 904-727-6530.
TOP
The direct sales comparison approach is the most common
method of appraising a home. Here’s how it’s done. The appraiser:
-
Selects houses similar in size, price and features that have
sold recently in the neighborhood preferably in the past six
months.
-
Measures the dimensions of your house’s exterior walls to
calculate the size of the living area.
-
Notes exterior improvements, such as a pool or a fence.
-
Takes photographs of the front, rear and sides of the house.
-
Checks the general condition of the interior, including appliances, flooring and walls, and notes how the rooms are laid out to
judge the flow of traffic.
-
Asks the homeowner to point out any measures that may
have been overlooked.
-
Establishes a value based on how the house compares with
the prices and features of the comparable sales.
Click here for Appraisal Section
If you’ve had your house appraised and you are unhappy with
the result:
-
Get a copy of the appraisal from your lender. The lender must respond to a written request for an appraisal within 15 days.
-
Check the features and sales prices of the houses the appraiser chose for comparison, and make sure they are truly comparable.
-
Check with real estate agents or the property records office
at the county courthouse to get information on additional houses
that may have sold in your neighborhood.
-
Ask to meet with the appraiser and present your evidence. To
get a higher appraisal, you must show that your house compares
closely with others that have sold for more than the appraisal. Or
you must show that the appraiser overlooked something significant.
TOP
|
