If you want to know how to live your best financial life, you’ve come to the right place! Here, you’ll find everything from information on insurance, investments, and owning rental property to advice on savings and retirement.
Those antiques your grandmother left are lovely, but you may nonetheless choose to sell them. Perhaps you don’t have space for additional furniture, or maybe grandma’s style just doesn’t fit with your own. You may simply need some easy cash. Where’s the best place to sell family heirlooms? How can you be sure to get… Read more »
The idea of the staycation, which emerged during the pandemic years, was a response to the escalation of travel restrictions. Staying at home for your vacation might sound less than exciting initially, but with a touch of creativity and a festive spirit, your staycation can easily rival an out-of-town trip. To make your staycation shine,… Read more »
If you’re trying to get a mortgage, you may hear the lender refer to a broker price opinion. Is that the same thing as an appraisal, or a comparative market analysis? Not really. Let’s explore the differences in these three ways of valuing a house. Three ways toward valuation A broker price opinion (BPO) is… Read more »
Owners of residential investment property often spend money on repairs or renovations. These expenses can be written off on your taxes, but the rules vary depending on the nature of the work. Here’s what you need to know about how the Internal Revenue Service treats expenses for repairs and renovations. Repairs and renovations are two… Read more »
You probably intend to organize your financial and other personal documents “when you get around to it,” but the task can seem overwhelming. Once done, however, organizing your financial affairs will give you and your loved ones security and peace of mind. Here’s our guide to organizing your financial life. Important documents A good place… Read more »
Significant financial misfortune may lead you to do the unthinkable: file for bankruptcy. You may fear that this means the American dream of homeownership is out of reach, but all is not lost. Homeownership after bankruptcy is possible. Types of bankruptcy Federal law allows individuals to file two types of bankruptcy: chapter 7 and chapter… Read more »
If you live in a home built before 1980, you may be able to slash your energy costs by increasing your home’s insulation. Here’s what you need to know. How to know if you have enough insulation Energy awareness began rising in the 1970s. By 1980, homebuilders began increasing the amount of insulation in houses,… Read more »
When you apply for a mortgage, your lender will have you complete the Uniform Residential Loan Application (URLA). This form, designed by the federal government and used nationwide, can be daunting for first-timers. Being informed helps relieve confusion, so read on. The basis of the form Two government-sponsored agencies, the Federal National Mortgage Association (Fannie… Read more »
American marketers have expanded subscriptions to include all sorts of products and services in addition to magazines and newspapers. Today the average consumer subscribes to several digital services, such as Netflix, Spotify, Blue Apron, Harry’s Shave Club, and more. Individually, these subscriptions may cost $10 or less per month, but collectively, they can total hundreds… Read more »
Financial success requires certain disciplines. You need to know what you’re spending your money on, spend less than you earn, and set aside some savings every month. You also need to be disciplined about monthly bill paying. Bills for your monthly expenses probably fall due on different days, and if you lose track, you’ll miss… Read more »
Estate sales can offer quality used goods at great prices. But in addition to cash or credit card, it helps to come armed with information. Here’s how an estate sale works, what you can expect to find and what you should avoid buying. Not a garage sale An estate sale is different from a garage… Read more »
When you are shopping for mortgages, you may come across the term “conforming loan.” Is that something different than a conventional loan? Does this matter to you as a borrower? Here’s a quick explanation of conforming loans. Fannie Mae and Freddie Mac Although all conforming loans are conventional loans, not all conventional loans are conforming…. Read more »
Foreclosure was likely the farthest thing from your mind the day you closed on your home. But sometimes, life circumstances intervene and leave you unable to pay your mortgage. Fortunately, there are steps you can take to help avoid foreclosure. Here’s our guide. Don’t avoid, communicate Say you’ve fallen behind on your mortgage payments because… Read more »
When a homeowner is forced to give up a home because of financial hardship, the house is referred to as distressed property. Buyers can often purchase distressed properties at a deep discount, but these transactions are not always easy. Here are three categories of distressed properties and how a buyer can purchase each of them…. Read more »
Buyers generally must get a mortgage loan to buy a house. Wise buyers include a mortgage loan contingency clause in the sales contract with the seller to protect themselves should they be unable to get a loan. Here’s how mortgage contingency clauses work and how they protect buyers and sellers. The contingency has your back… Read more »
Living with roommates can save you money — or help you afford a nicer place to live — but beware of the pitfalls of communal living. Here are a few tips for being a good roommate. Financial responsibilities Tackle the question of who pays for what quickly and early on. Will each person pay a… Read more »
Before signing the lease on your first apartment, don’t forget to read the fine print. That’s where you’ll find the details of your responsibilities as a tenant. Failing to read them could cost you big money as a first-time renter. At move-in Before moving in, the landlord or property manager will ask you to inspect… Read more »
As families change, multigenerational living situations become more and more common. Should you consider multigenerational living arrangements? Here’s what you need to know. What is multigenerational living? Multigenerational living occurs when two or more generations, who would normally live separately, live together. Most commonly, this occurs when adults with children have their aging parents move… Read more »
Special financial assistance is available for teachers seeking to buy a first home, refinance a home, or even repair an old home or add energy-saving improvements. This help translates to potentially lower closing costs and fees and a streamlined path to homeownership. National Education Association With membership, the National Education Association, or NEA as it… Read more »
In today’s world of prolific online hackers, we all need to exercise due diligence to protect our personal information. The last few years have seen several massive hacks, including the Equifax data breach announced in September 2017. What can you do to protect yourself from hackers? And if your information was taken from Equifax several… Read more »
