Avoid Buying a Home with Declining Value During a Real Estate Boom
If an area like Phoenix, AZ, or Las Vegas, NV, or Frisco, TX is growing while the real estate markets in the rest of the US are cooling, you might think that buying an established home in a growing area would be a good move, right? But, that is not necessarily the case. There are [...]
Interest Rates Fall Again - Should I Refinance?
Mortgage rates are reaching new lows in late February. Many people are asking whether they should refinance. The answer is… Maybe. At least that is the initial answer on the way to the ultimate yes or no answer. And the only way to get that ultimate answer is by endeavoring [...]
Should I get two mortgages to avoid paying PMI? Yes and No
The question seems clear - “Should I finance/refinance my home with 2 mortgages in order to avoid having to pay for Private Mortgage Insurance (PMI)?” I say yes, while Dave Ramsey says no. Obviously the answer is not as clear as the question. So let’s take a look to see what the [...]
Avoid placed home owners insurance
What is “placed insurance”? Very simply, it is when your mortgage company or lending bank purchases home owners insurance for your house and makes you pay for it. It is usually very expensive.
“How could they do that?” you ask.
Related PostsShould I get two mortgages to avoid paying PMI? Yes and NoThe question seems [...]
Insurance - You Bet Your Life on it!
What type of life insurance should I buy?
It is no secret that I am a student of pragmatism and simplicity. As such, it is also no secret that I am a student of Dave Ramsey and a graduate of his FPU - Financial Peace University.
As a prudent student of financial products such as [...]
Life Insurance, How Much is Enough?
With the purpose of life insurance being to provide financially for the surviving family members in the event of the death of one of the head of the household, you must ask youself what will be needed for your loved ones.
Let’s look at Mike and Jill. Mike goes to work every day at his [...]
My federal income tax refund more than a year late!
By reading the headline you might think that I should have a headache from receiving my tax refund so late. However, the opposite it true. For those of you who are self-employed or do consulting, here is why…
Related PostsHow you lose your house to unpaid property taxesA friend recently shared with us how [...]
US Federal Reserve Bank eases lending
Good news today on the lending and borrowing front. The Fed cut interest rates by 1/2%. That can make a significant difference in the overall cost of a home loan over its lifetime. In fact, it can make a big difference in getting a loan at all. Hint…
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How you lose your house to unpaid property taxes
A friend recently shared with us how many young couples in her neighborhood have lost their homes due to having tax bills they were unprepared to pay. Perhaps they had plenty of time, but the impending expense did not show up on their radar screens, so to speak. This is a common trap [...]
Get rid of your adjustable rate mortgage and pay off early while there is still time
They have been on the A.M. radio every weekend for years. It used to be “get an interest-only or variable rate mortgage now - no income verification needed. Bad credit or bankruptcy OK”. Getting those mortgage quotes was easy for anyone. I was wary then, and rightly so. (continued…)
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