When buying a home -- whether it is for the first time or the sixth time -- it can always be exciting, but also rather stressful. Many in the Minneapolis area are no doubt familiar with the process of going from house to house, checking for new listings and hoping that the next home will be the one.
Federal regulators are considering reducing the down payment requirements for a handful of mortgage products backed by Fannie Mae and Freddie Mac. The proposal would lower payments from 5 percent to 3 percent in an effort to improve home sales nationwide.
We are back to our discussion of mechanic's liens. Specifically, we were discussing what a homeowner may or must do when he or she learns of a lien. As we said in our Sept. 22 post, the lien is only valid if the contractor or subcontractor gives the homeowner proper notice.