As of now, more and more lands are being converted into commercial areas wherein apartment buildings are mostly situated at urban places, especially at marketable centers. This is due to the demand for housing which is continuously escalating in magnitude every year.
An apartment, while it doesn’t offer much investment potential, is considered one of the wisest financial choices, and solutions to this demanding real estate inclination, which is why a lot of people are realizing its several benefits, and in due course, are purchasing them. Some may be saving for a down payment on a home; others may be unable to afford buying a home. For families or individuals who move often, or for those who are not interested in the maintenance and repair of a home, renting can offer freedom to relocate, and relief from the costs of home ownership. Moreover, many wish to find an affordable yet quality residence, in which they can enjoy carefree living, and luxuries that they might otherwise never have. Read more →
Are you worried about how you’d be meeting your mortgage payments? Do you feel that in the future it may be a problem for you? Do you want that hard reassurance to tell you that you could maintain your payment for this mortgage for years to come?
If somebody sells you real estate in the Philippines, and the offer is too good to be true, then maybe it is a scam.
According to CoreLogic, there has been a 20% increase in mortgage fraud with an approximate value of US$12 billion during 2010, with 1 for every 52 short sale transactions considered suspicious. It doesn’t pay to be a skeptic. Real estate fraud types are becoming increasingly well hidden and complex, gone are the days of mere misrepresentation of information, now they’re using technicalities to take advantage of you.
Here are some of the scams they’re doing:
1. Flopping – somebody buys a property from an owner possibly facing foreclosure for a value below what that owner owes the bank. Then the owner convinces the bank to short sale the property which the bank approves, since it will be less costly for them than go through the foreclosure process. The new owner then will sell that property to another buyer at a higher price, turning a profit. Usually the new and original owner are parties to this scam. Read more →