June 2008
Cancel Your PMI Before It’s Too Late To Cancel
June 12, 2008 by MikeRosen · Leave a Comment
When homeowners borrow more than 80 percent of a home’s value, mortgage lenders often require a corresponding insurance policy called Private Mortgage Insurance.
PMI provides a cash payment to lenders in the event of a homeowner defaults.
But because PMI policies are designed for high LTV loans only, they usually contain cancellation options for when home equity [...]
The Proper Way To Give And Receive Gifts For Downpayments
June 4, 2008 by MikeRosen · Leave a Comment
When a home buyer is gifted cash for a downpayment, there is a right way and a wrong way to receive the funds.
The right way includes:
Completing an acceptable gift letter
Documenting the withdrawal of funds with receipts
Documenting the deposit of funds with receipts
The wrong way is to ignore the rules that mortgage lenders clearly spell out [...]
The 60-30-10 Rule Of Interior Designing
June 3, 2008 by MikeRosen · Leave a Comment
Interior designers have 16 million colors in their palettes with which to work, but room planning often boils down to three other numbers — 60, 30, and 10.
As in, the 60-30-10 Rule.
As featured on HGTV.com, the 60-30-10 Rule says that decorating a room should be based on percentages:
60% should be a dominant color
30% should be [...]
