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Second home mortgage requirements can be more strict than mortgage requirements for your first home. For example, many lenders require you to put at least 10 percent down on a second home. There ...
Purchasing a vacation home or secondary residence often seems like a dream come true. But before getting carried away in fantasyland, prudent buyers must do the legwork. Doing so helps ensure your...
The home inspection and home appraisal are crucial steps for buyers, and both can make or break a deal. Both involve a professional visiting the property for an in-person evaluation, but they’re ...
Second mortgages, commonly referred to as junior liens, are loans secured by a property in addition to the primary mortgage. [1] [2] Depending on the time at which the second mortgage is originated, the loan can be structured as either a standalone second mortgage or piggyback second mortgage. [3]
A spate of flipping often creates an economic bubble which then bursts, such as during the Florida land boom of the 1920s. [2]In the 2000s, relaxed federal borrowing standards (including subprime lending that allowed a borrower to purchase a home with little or no money down) may have led directly to a boom in demand for houses. [3]
Painting of a family moving in the 19th century. Relocation, also known as moving, or moving house, is the process of leaving one's dwelling and settling in another. [1] The new location can be in the same neighborhood or a much further place in a different city or different country (immigration).
A second home can also act as a buy-and-hold investment — real estate does tend to appreciate in value over time — and be a valuable asset to pass on to heirs.
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