One of the more hotly debated issues in personal finance is whether you should pay off your mortgage early. As with most things, there is no one-size-fits-all answer. Here are a few questions to guide you:1. Are you receiving a tax deduction? Although everyone assumes that they are getting a … [Read more...] about Should you pay off your mortgage?
Mortgage
What to do if you can’t pay your rent
As a new month approaches, many tenants are panicked about how to scrape together the money for next month’s rent.More than 22 million Americans have filed for unemployment in the past month, and many state unemployment offices are backlogged.The CARES Act offers forbearance and blocks … [Read more...] about What to do if you can’t pay your rent
What to do if you can’t pay your bills
There’s no doubt that for many people have suffered a big toll on their finances. Whether you’re down an income (or two) in your household, or waiting on unemployment or small business help, you might be stressing about what to do with the stack of bills that is piling up or on the way.On the … [Read more...] about What to do if you can’t pay your bills
What to look for in a starter home
You’ve dreamed for years of buying your first home, and now it’s time. You’ve created Pinterest boards dotted with photos of beautiful home decor, watched all the episodes of HGTV’s “House Hunters” and spent hours trolling listings online. You know exactly what you want.But have you done … [Read more...] about What to look for in a starter home
How to buy your first house
Buying your first home is intimidating, and the current economy makes it even tougher. According to a recent article in Market Watch, the inventory of starter homes available to first time home buyers is dwindling. Many homes are in need of major repairs, which drives up the investment cost.But … [Read more...] about How to buy your first house
How to buy a house with 5% (or less) down payment
One hurdle many would-be home buyers face – or think they face — is the need to come up with a big chunk of cash to make a 20% down payment. The good news is that you don’t have to have 20% down, even in today’s tight credit environment, to buy a house.Buyers with good jobs and decent credit … [Read more...] about How to buy a house with 5% (or less) down payment
How to pay for major home improvements
Do you want to improve your home? We all do. Your list may include renovating the kitchen, addding a deck, changing outdated light fixtures, building an addition, update the heating and cooling systems or other projects.All those things sound great but they cost home. Home improvements can be … [Read more...] about How to pay for major home improvements
How to get the best deal on a mortgage
Most people will need a mortgage to buy a home. That means that not only do you need to shop for a home, you need to shop for a home loan. But a survey of 2013 borrowers by the U.S. Consumer Financial Protection Bureau found that almost half of borrowers didn’t shop around before settling on a … [Read more...] about How to get the best deal on a mortgage
How to get the best refinancing deal
If you're paying an interest rate of more than 5 percent, now may be the time to refinance your home mortgage.Although interest rates have risen slightly in the past few weeks, they are still at historic lows. The average rate for a 30-year, fixed-rate mortgage was 3.89 percent in the last week, … [Read more...] about How to get the best refinancing deal
How to pay off your mortgage early
The mortgage-burning party may have gone the way of the rotary phone, but that doesn’t mean Americans don’t own their homes free and clear anymore. In fact, about 34% of homeowners in the United States no longer have a mortgage, according to U.S. Census data.The stories of people who pay off … [Read more...] about How to pay off your mortgage early
When it pays to refinance your mortgage
Mortgage rates have been hovering near historic lows for five years. While the current average rate of 4.19% for a fixed, 30-year mortgage is not the lowest it has ever been – that was 3.35% in December 2012 – it’s still lower than at any time between 2010 and 1971, when Freddie Mac started keeping … [Read more...] about When it pays to refinance your mortgage
Considering a reverse mortgage? Ask these questions
The TV pitchmen make it sound like the easiest thing: Use your home equity to finance your retirement through a reverse mortgage, and stay in your home without ever making a payment. What they forget to mention is a reverse mortgage is not nearly that simple. While it is a great way for some older … [Read more...] about Considering a reverse mortgage? Ask these questions
How to buy and sell a house at the same time
Now that the real estate market is climbing out of the doldrums (or now that your family has grown by a member or even a few), you may be ready to buy a new home.But do you sell your old home first? Or do you buy and then sell?“It’s always a tough choice to make,” says Anthony Vitale, senior … [Read more...] about How to buy and sell a house at the same time
What you need to know before buying a home
With interest rates still at an all-time low, many first-time homebuyers are looking to make the leap into home ownership. Choosing a home is the easy part of the process – you’ll also need to deal with contract offers, inspection, securing a mortgage and insurance, and the closing, all of which … [Read more...] about What you need to know before buying a home
