Protect Yourself

Wash Hands of Liability in Sale of Uninspected Home
Protect Yourself Wash Hands of Liability in Sale of Uninspected Home Because hidden defects could exist in any residence, regardless of the seller's disclosures, buyers should hire a home inspector before closing on a sale. But if buyers decline to have the home inspected, the sellers must take steps to limit their liability in the event that flaws are discovered later.

Credit Scores

There's More to a Score Than the Numbers
Credit scores - used by lenders to approve home and auto loans and credit card applications - are based on the information in a consumer's credit report and are an indication of the prospective

Inspection Liability

Buyers, Sellers Should Understand Inspection Contracts
Though the legal clauses of a home inspection contract can seem complex, they are designed primarily to minimize the inspector's exposure to general liability as well as to prevent frivolous lawsuits. Inspection contracts typically explain which items are excluded from the inspection.

Avoid PMIs

Second Loan Can Fend Off Private Mortgage Insurance
Homebuyers can skirt the need for private mortgage insurance by securing a second loan - either from the seller or from another lender.

Title Insurance

Americans Rarely Suffer Losses Under Title Insurance Policies
A new survey by the American Land Title Association reveals that title insurers doled out approximately $350 million in claims in 2000, belying consumer beliefs that the business does not pay out significant claims.

Mortgage Points

There's No Statute of Limitations on Deducting Loan Points
Though one-time lender fees are typically deducted in the same year that a house is purchased, many homebuyers do not have enough deductible expenses to itemize during their first year of ownership.

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