Q A

Agent说要给seller agent $1000 作deposit,这属于正常的手续么?

A1: That's normal. It is usually kept a so-called "escow account". It is fully refundable if you back off after home inspection. You should fill out an offer form which should mention that amount of money and contingencies that you can get it back.Normal contingencies are house condition, termite, radon and lead paints or others specified by you. You should read that form carefully.

B1: 1. It is only can be deposited to the broker's TRUST account, not "EscrowAccount". Escrow account is when you have a mortgage and you reserve the
money for tax and other fees.
2. It is not always fully refundable. Depends on the contingencies or what the agreement says.
3. It is credited to the buyer when the deal go through. You don't get the check back, you get the credit. You agent's broker deposited the check and deducted the firm's commission with that amount.

tax

check if you have escrow account. if so, send the bill to them and
they will pay from your escrow account. also you need to contact
your local county to change the info. make sure they have your
lender's info. also you may wanna check if you have homestead credit
if you do not know what homestead credit, google it

15 years loan vs 30 years loan

标 题: Re: 15年vs30年loan

it is never a good idea to put all your eggs in one basket.

your house typically represents the largest investment for you. so you should try to diversify and NOT invest more in your house.

from that point of view, don't prepay your mortgage, try to take out as much money out of your house as you can, maximize your interest expenses, etc.
and invest the proceeds somewhere else.

that way, if the market goes against you, you can walk away from your house and still be rich.

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