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AdobeStock 111863032What is house hacking? House hacking is when you rent out one or more parts of your home (on sites such as Airbnb) to cover the cost of your mortgage—or even make a profit. House hacking can help you afford to buy real estate in expensive areas that would normally be beyond your financial reach, or to turn your primary residence into an investment property. If this sounds intriguing, read on to find out more about what house hacking is, the benefits, and how to avoid potential pitfalls if you want to try this yourself.

Read more: House Hacking - Hope for Buyers Who Can't Afford a Home

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AdobeStock 111863032Sounds like a game show title, we know, but becoming a landlord is actually serious business. It also has serious upside potential—if you know what you’re doing.

“One of the biggest shifts in the housing market since the financial crisis has been the growth of the single-family rental market,” said Investopedia. “Single-family rentals are developing faster than any other segment of the housing market, outpacing both single-family home purchases and apartment-style living, according to Washington, D.C.-based think tank Urban Institute. While the number of households in the U.S. continually increases, almost all the housing demand in recent years has been filled by rental units.”

Read more: Are You Ready to Be a Landlord?

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home grid 01When you list your property for sale, you may find the most difficult part of the listing process is shifting your thinking from “my home” to “the buyer’s new home.”

I will help with this mental transition and ultimately you’ll benefit from embracing this shift. The sooner you let go of obsessing about “your home” and start concentrating on what buyers in this market and this price range will spend their money on, the easier and more lucrative selling your home will be.

Read more: Sellers: Adopting a “Buyer Frame of Mind”

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AdobeStock 5639268If you're behind on your mortgage payments and don't see your situation improving, you might be thinking the only way out of this mess is to sell your home. But can you? The short answer is yes—that is, so long as your lender hasn't foreclosed on your home yet. The foreclosure process begins once you fall behind on your mortgage payments. Miss just one payment, and you may soon receive a foreclosure notice in the mail. Once you're more than 120 days late, your lender has the legal ability to reclaim your home and sell it to recoup its money—and yes, you'll be forced to vacate the premises.

But here's the bright side: You have up until the day that foreclosure takes place to sell the home on your own. Still, the process of selling your house before foreclosure isn't easy. Here's a short review of what you can do. For a more in-depth analysis of your situation, give me a call, I am a CDPE: Short Sale & Foreclosure Specialist

Read more: Can I Sell My Home If I'm Behind on My Mortgage?

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