| Checklist: Reasons to Hire an Appraiser
Real estate appraising is the evaluation of property including the land, the dwellings and all the features on it. Although everyone knows it is necessary to appraise real estate to sell it, there are many other reasons people would contact a real estate appraiser. Establish value to buy insurance. Settle insurance claims. Establish market value to sell a home or buy new property. Establish market value to refinance or use for collateral on another loan. Assess current value to get rid of obligation to buy property mortgage insurance. (If value has risen, owner's percentage of equity in property may have increased enough to eliminate the lender's requirement to pay for property mortgage insurance.) Reduce property taxes.
Enticing deals in the mortgage crisis often are too good to be true
Constance Smith Bridgewater was in default on her mortgage payments, and she was desperate to keep the snug two-bedroom house in San Francisco's Portola district where she lives with her teenage grandson. It seemed providential when an acquaintance proposed a solution, claiming that it had worked for him: A network of investors would save her house from foreclosure by taking over ownership then renting it to her, promising that she could buy it back. Sure, the plan involved deeding the home to someone else, but Bridgewater was told that was just temporary so a person with good credit could get a mortgage at a favorable rate - which would help Bridgewater, too, because her rent would be half of the mortgage payments. The promised advantages were appealing: up to $100,000 from the sale, lower monthly housing costs, assistance in improving her credit score and the chance to make money referring other people for similar lease-back plans.
Asian shares close up despite US fears, SocGen fraud
SK Telecom closed up 3,500 at 205,500 won while Hynix fell 3.6 percent to 25,150 won. Kia Motors soared 7.7 percent to 10,050. Hyundai Motor rose 1,200 to 72,000. LG Electronics advanced 2,200 to 95,200 won. SINGAPORE: Singapore share prices closed 3.59 percent higher, dealers said. The blue chip Straits Times index rose 109.39 points at 3,159.48. Volume was 2.03 billion shares worth 2.51 billion Singapore dollars (1.76 billion US). "This probably isn't the bottom of the pond yet, as volatility and sentiment will continue to dictate the market in the next few months," Terence Wong, an analyst with DMG & Partners Securities, said. DBS rose 48 cents to 18.94 dollars. City Developments rose 66 cents to 12.88 dollars. Singapore Telecommunications rose seven cents to 3.76 dollars.
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