Ken Tighe has sent the following question in the ask experts series. My wife will be 65 on April 5, 2017 and I was 65 on 2/4/2015. We currently own our home but want to build a new home on a lot we own that will better accommodate us in our advanced age. We have the cash to build the new home but can a reverse mortgage be used to pay off the construction loan once…
Buying new construction is a bit different from buying a previously-owned home. For one, because there is no previous homeowner, you don t have to deal with a seller s emotional tie to the property, which typically influences the negotiating process. Whether you re designing and building a custom home or buying a home that s built on spec in a new subdivision, you…
9:40 A.M. EDT THE PRESIDENT: Thank you, Chuck Goodrich. Thank you for putting on a tie. (Laughter.) Thanks for that wonderful introduction and for your friendship of so many years. And I m just so proud of Chuck Goodrich and his leadership role in this great organization. From one Hoosier to another, thank you for your leadership, my friend. And thank you for your…
Students rally for fairer funding of charter schools during National School Choice Week in Texas. JAY JANNER / AMERICAN-STATESMAN The General Assembly approved House Bill 430 last night, which assists charter schools in finding and funding facilities and buildings. According to the AJC: Legislation to ease access to buildings and money for charter schools was approved…
Know what to expect before you finance a new construction home. A lot of patience is required to navigate the process of finding the right builder, obtaining a construction loan, and having your home built. Here is a step-by-step guide to financing new construction, as well as answers to a few commonly asked questions about new construction loans. Find a great agent…
Gerry and Karol French of Madison are building a new home using wood from their own land. They own 20 acres of land near Wautoma, half is a mix of red and white pine - 45 years old. The log home will be built on a hillside site South of Cross Plains, WI. Alex Greene - Red Beard Lumber is doing the logging and woodworking with his WoodMizer sawmill. The logs were cut…
More than two dozen American flags provided a patriotic backdrop Thursday as Northwest suburban high school students, police, firefighters and other volunteers began building a house in Spring Grove for a military veteran and his family. Tony Chobanov of Naperville, an Army specialist who served tours of combat duty in Afghanistan and Iraq, expressed gratitude for…
Steps Buy land if you don t already own some. You will need to either pay cash for the land, get a land loan from a bank, buy land from the seller with owner financing, or find a seller willing to wait for you to get house plans and a building permit and a realtor willing to wait months for their commission (highly unlikely). Buying the land with a land loan first…
While there s a fair bit of information out there regarding traditional home loans and mortgage options, it s not as easy to find information about new construction loans. Construction loans are a different beast from their traditional mortgage counterparts. With a traditional home loan, the existing home is the bank s collateral; you skip out on the loan, and the…
A lousy economy, rising unemployment and a dismal long-term outlook translate to ideal financing conditions for new-home buyers. A general malaise bordering on depression is wreaking havoc on consumer confidence, another factor fueling financing opportunities. The tentative real estate market amounts to an ideal window of opportunity for adventurous contrarians. A…
MILWAUKEE - Police are investigating after a car slammed into a building on the city s north side early Thursday morning, May 25th. It was a rude awakening for one man, who stepped out of his bedroom to find the vehicle in his living room! It happened around 5:00 a.m. near and Capitol Drive and Green Bay Avenue. According to police, the vehicle was headed westbound…
You’ve done some looking around, and you just can’t find a house currently in existence that matches up with what you’re looking for. You decide that maybe a brand-new build is what you’re looking for. The good news is that you can get a loan on a newly constructed home. There are just a few things you should know going into the process. Appraisal and Final Inspection…
Each piece of cut sod is two feet long, one foot wide and four inches thick. The door and window frames are open boxes the depth of the walls and were set in place so the walls could be built up around the frames. The door and glass windows will be put in place in the spring. Beaver-downed trees were retrieved from the woods and used to support the roof made of one…
Self builders Hannah Jones and Theo Hodnett spent around £125, on their new home. An innovative Shropshire self-build scheme aims to open the property market to first-timers and create affordable homes Hannah Jones, 25, and her fiancé, Theo Hodnett, 27, spent months looking for a home around the picturesque market town of Ludlow in Shropshire, but couldn’t find anything…
