Home Sales in Ohio
Here's an article from Plain Dealer on Wednesday 7/23. It shows that home sales are down slightly from 2013. Market activity seems to bear this out. Click here to read…
Mike co-hosting radio program on WCLV
This evening (Wednesday, 5/28)at 8:00 P.M. EDT, I will be co-hosting a classical radio program with on-air personality, Jacqueline Gerber, on WCLV. The station can be accessed at 104.9 FM…
Home Prices Rising But at a Slower Rate
According to an article in today's Plain Dealer and cleveland.com, home prices in the Cleveland area rose 1.5% from February to March. These were the latest figures available. Cleveland had…
Best Location in the Nation – Cleveland: The Best Kept Secret
We take the liberty of borrowing these phrases from The Cleveland Electric Illuminating Company and the late Plain Dealer columnist and author, George E. Condon. These slogans aptly describe Greater…
Real Estate Glossary
Acceleration Clause A provision in a mortgage that gives the lender the right to demand payment of the entire principal balance if a monthly payment is missed. Acceptance An offeree's…
Land Contract
An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a…
The No-Cost Thirty Year Fixed Rate Mortgage
There really is no such thing as a "no-cost" mortgage loan. There are always costs, such as appraisal fees, escrow fees, title insurance fees, document fees, processing fees, flood certification…
The Advantages of Different Types of Mortgage Lenders
What kind of lender is "best?" If you ask a loan officer, "What kind of lender is best?" it is going to be whatever kind of company he works for…
Types of Mortgage Lenders
Mortgage Bankers Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans which they sell directly to Fannie Mae, Freddie Mac, Ginnie Mae, jumbo…
Where Does the Money Come From for Mortgage Loans?
In the "olden" days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had extra funds laying around and…