What is the Home Valuation Code of Conduct (HVCC)? – David Reecher The Home Valuation Code of Conduct (HVCC) is a set of federal guidelines designed to make the home appraisal process more relia...Read More
What is a home equity line of credit (HELOC)? – David Reecher A home equity line of credit (HELOC) allows homeowners to borrow cash to spend as they like, using their home equity as collateral. ...Read More
What is Freddie Mac? – David Reecher The Federal Home Loan Mortgage Corporation, known as Freddie Mac, is a government-sponsored enterprise that buys loans from mortgage lenders, packages them t...Read More
What is a foreclosed home? – David Reecher A foreclosed home is one that has been repossessed by a lender because the owner was unable to make the mortgage loan payments. These homes are usually...Read More
What is For-Sale-By-Owner (FSBO)? – David Reecher For-sale-by-owner refers to a home that the owner is selling without the services of a licensed real estate agent. In the industry, a for-sale-b...Read More
What is flood insurance? – David Reecher Flood insurance protects a homeowner against losses from a flood. It is often subsidized by the federal government. If the home is located in a flood pla...Read More
What is a float-down? – David Reecher When a borrower locks in an interest rate on a loan, a float-down option allows the borrower to take advantage of a lower interest rate if rates drop during...Read More
What is a fixer-upper in real estate? – David Reecher A fixer-upper is a home that can usually be lived in but needs maintenance work (redecoration, redesign, or reconstruction) and is typically...Read More
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