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Heather Schelling
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Title Insurance | pricing Blog

Monday, April 01, 2019   /   by Dixie Simon

Should you Sell if you are House Poor?

ARE YOU HOUSE POOR? 

WHAT CAN YOU DO ABOUT IT?



The definition of House Poor (via Investopedia) is: “A situation that describes a person who spends a large proportion of his or her total income on home ownership, including mortgage payments, property taxes, maintenance, and utilities. House poor individuals are short of cash for discretionary items and tend to have trouble meeting other financial obligations like vehicle payments.”

Investopedia goes on to explain that: “People typically become house poor because they buy more house than they can afford, but there are other ways that people can become house poor as well. For example, some people will become house poor after the birth of a child, when one spouse decides to stay at home with the new addition, rather than going back to work.”





After the recent post called "In The Market For The American Dream – Home Ownership," a reader wrote in with a question. 


She aske ...

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Saturday, March 30, 2019   /   by Dixie Simon

Real Estate Attorney vs Title Company

Can someone please explain the difference?

What a great question for both the Seller and the Buyer


A Title Company is an insurance agency. They represent title insurance companies that ensure clean title to buyers and lenders. A title needs to be free and clear of encumbrances or any cloud on said title that would cause a financial loss. The potential financial loss is what is insured.



The settlement transaction (the order in which documents are executed and filed for public record) together with the financial accounting of said transaction is insured in the event any error or omission. For the title insurance company to ensure the closing, they will require that it be done by a qualified closing agent who represents their company.  A title company is used to close the deal.

In many areas, especially in smaller communities where there are no title insurance company offices, attorneys can close a real estate transaction. The attorney submits a resume and ...

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  selling home, home selling, spokane real estate, buying and selling a home, haven real estate group, sellers, transaction, realtor, spokane realtor, buyer guide, dixie simon, closing fees, attorney, title company, title insurance

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Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201
509-590-4701

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