Useful Information
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Paying off your loan quicker

Many homeowners want to pay off their mortgage as quickly as possible. Below is a list of "Pay-Off Tips" to help you decrease your mortgage in an effective and consistant manner.

1: Increase your payment annually to the most you can afford. Most lenders will allow you to reduce it again to the previous level if it turns out to be too great a burden or your circumstances change.

2: Use your tax refund to pay down your mortgage. Even if you can only prepay annually, make sure these funds are reserved for the purpose of applying to your mortgage. It can be one of those annual surprises that can really help reduce the principle.

3: Increase the frequency of your payments. Make accelerated bi-weekly payments to get a "free" principal reduction equivalent to one full mortgage payment every year — painlessly.

4: Round your payments up. By adding even a nominal amount of say, $10 per payment, the amount of interest you are saving will be unbelievable, and the extra money relatively painless to part with.

5: Pay a lump sum whenever possible. By decreasing the principal of the mortgage, your payments will not be allocated as much to interest in the future, thereby making you mortgage-free faster.

6: Keep payments the same when mortgage rates have fallen. If the payment amount has not been a problem so far, then do not change it when rates fall. Keep the payment the same thus paying down the principal faster.

7: Raise payments in line with increased income. If your income increases, don't keep your mortgage payments the same. Just pretend that your income did not increase and maintain your existing lifestyle.

 
  Tips to help sell your home quickly - and get top dollar.
 

Effective Ways to Show Your Home to Potential Buyers

You want the potential buyer to imagine owning your home. You don't want them to feel like an intruder. The little and big things you do to make your home more inviting can go a long way in making them feel at “home”.

1. First Impressions

A buyer’s first impression starts outside. A fresh cut lawn, budding flowers, a newly washed porch with chairs and inviting cushions all add to a positive first experience for the buyer. It welcomes them into the home and sets the stage for more delights to come.

2. Check the House Temperature

  • Do not fret over your utility bill. Turn on the heat if it’s cold outside. You want your potential buyers to feel warm and welcomed.
  • If it's warm outside, turn on the air conditioning or open up some windows. It’s a good idea to keep your home a degree or two warmer or colder than your usual temperature.

3. Set the Mood

  • Light the fireplace.
  • Display fresh flowers.
  • Turn on soft music.

4. Simmer on the Scents

  • Many people are allergic to certain scents and deodorizers, so don't spray the air or plug-in air fresheners or spray perfumes.
  • If weather permits, open the windows -- if there is too much noise outside, close them.
  • If you're going to bake cookies put out some snacks so buyers aren't disappointed.

5. Pack a Visual Punch

  • Bring attention to the features of the home with lighting, placing of furniture, pictures and decorations.
  • You’ve heard this a million times but taking out the clutter in the home is essential to showing off the space. LESS REALLY IS MORE.
  • Open all the window coverings to let the light shine in unless they hide a less than desirable view.

6. Light up the House

  • Turn on every light in the house, including garage, appliance and closet lights.
  • Turn off the TV unless it is a feature in the room – such as a plasma TV. In that case, consider soft art or scenery pictures on a DVD to make a nice impression.

7. Encourage Touching

  • Drape velvet or silk throws over couches and chair arms.
  • Leave doors slightly open.
  • If you have carpeting, try to vacuum in one direction.

8. Encourage Lingering

The best way to entice the potential buyers to stay awhile is with food. You don't need to cater a lunch, but finger sandwiches, cookies, soft drinks, water, desserts, all are welcome.

  • Set out serving utensils, if needed.
  • Provide plates, cups and napkins.
  • In plain sight, provide a waste receptacle.

9. Buyer Feedback

Listen to the buyer feedback. If you notice a pattern of unfavorable feedback in one area, try to make the necessary changes before the next showing if possible.

 

See also our Renovation Tips
 

 

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