Cheryl Bourland's blog

Don't Be Afraid to Refinance Your Loan

Homeowners consistently fail to refinance their mortgages, even when doing so could save them thousands of dollars in interest. This is the finding made by researchers at Columbia Business School whose work was recently published in The Review of Financial Studies. After examining mortgage refinancing data from November 2011 through March 2013, the researchers determined that 51% of homeowners who received preapproval applications through the Home Affordable Refinance Program chose not to apply, a decision which cost them each nearly $9,000 in savings.

Study Shows FSBO Results in Significantly Lower Sale Price

If you've ever sold a home, chances are good that you thought about doing it yourself. For Sale By Owner (FSBO) lures in home sellers with promises of paying no commission and not dealing with an agent, but it also comes with important disadvantages. In fact, a study from 2017 found that homes sold without an agent do so at a significantly lower price on average, meaning that these owners ended up avoiding a commission at any cost (even if it meant losing money)!

What Are the Most Common Problems Found During a Home Inspection?

The home inspection is a valuable tool designed to discover defects with the house being sold before the buyer completes the sale. While most people already understand the importance of the inspection, they might not know what to expect to see once they open up the report. I recently wrote about some of the surprising issues that a home inspector might not be able to report on, but what about the opposite? Keep reading to learn about the most common defects found during a home inspection and how much it costs to fix them.