During the financial crisis in 2007 and 2008, millions of mortgage borrowers defaulted on their loans sending Wall Street and the mortgage industry into a nosedive. With billions of dollars in losses on the horizon, bankers and news anchors were touting the problems of adjustable rate mortgages and balloon payments. But are adjustable rate mortgages all bad? Not at all! Let’s take a look at when adjustable rate mortgages make sense. Continue reading
Everyone runs into money troubles at some point. If you are a homeowner, however, those money problems can land you in foreclosure or, even worse, homeless. If you run into a situation where you are struggling to make your mortgage payment, take these steps to try to stay afloat while you sort everything out. Continue reading
Buying your first home can be exciting. Not only are you investing in a property purchase that will one day show a significant financial return, but you’re also getting a place that is your own, where you can paint the walls any color you want and play loud music without upsetting neighbors on the other side of the wall.
Of course, taking on so much debt can also be pretty stressful the first time around. Are you making wise financial decisions? Can you really afford a home purchase? What if you lose your job?
There are many concerns associated with this major purchase, but there are also a lot of benefits to be gained. Plus, there are plenty of resources to help you choose wisely. Here are just a few dos and don’ts to get you started. Continue reading
If you own your own home in the United States, you may be entitled to some big tax savings. Tax deductions can be complicated, so here is a summary of how the homeowner tax deduction works and you to calculate your savings. Continue reading
While not as challenging as moving, refinancing your home mortgage loan is a big deal. Making the wrong decision could cost you tens of thousands, but a well structured refinance could save you much more. Pay attention to these three areas when refinancing your home. Continue reading
Buying a new home for the first time can be an intimidating prospect. The project can take months of preparation and work and cost hundreds of thousands of dollars, if not more. These seven steps will help ensure you have a smoother process without any big surprises. Continue reading
Buying a new home isn’t just about finding the right place to live. Once you’ve picked a great agent, and found your new home, you have to find a way to pay for it. Wading through the types of mortgages may seem intimidating, so here is a quick guide to which mortgage might be best for you. Continue reading