Cleveland House Contractors and Homes for Rent; Your Home Mechanics and Property Managers
  • Welcome to the Reilly Painting and Contracting Blog

    Welcome to Reilly Painting and Contracting, "The Home Mechanics," and Reilly Properties. We are your Cleveland home contractors who specialize in major home design projects and remodels, and minor home repairs. We also provide house rentals throughout Cleveland, Ohio.

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  • Testimonial

    "We're really pleased with the excellent work done by your crew. They were fast, efficient and easy to work with. Our garage is not flooding for the first time in six years thanks to the new down spout and paintwork."

    Christina D.
    Cleveland

  • Top 3 Mortgage Mistakes

    [caption id="attachment_7262" align="alignleft" width="300" caption="Mortgage Mistakes"][/caption]

    Avoid these mortgage mistakes when it comes to your home, and be sure to contact Reilly Properties, which has some great rentals in Cleveland!

    1. Adjustable Rate Mortgages

    Adjustable rate mortgages seem like a homeowners dream. An adjustable rate mortgage starts you off with a low interest rate for the first two to five years. They allow you to buy a larger house than you can normally qualify for and have lower payments that you can afford. After two to five years the interest rate resets to a higher market rate. That's no problem because borrowers can just take the equity out of their homes and refinance to a lower rate once it resets.

    Well, it doesn't always work out that way. When housing prices drop, borrowers tend to find that they are unable to refinance their existing loans. This leaves many borrowers facing high mortgage payments that are two to three times their original payments. The dream of home ownership quickly becomes a nightmare.

    Read more at Yahoo

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