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.
When figuring how much house they can afford, homebuyers with little or no experience may focus solely on the principal and interest portion of their monthly payment. But house payments also include the cost of homeowners insurance. It’s important to research the cost of insuring your home early in the process to avoid unpleasant surprises… Read more »
If you’ve lost your job or taken a pay cut because of Covid-19, you’ll need to cut your budget to preserve your financial security. Here are some tips for budgeting during the coronavirus pandemic. See where you are Your first step is a complete assessment of your finances. Start with your financial assets. Make a… Read more »
For years you’ve enjoyed renting a vacation house with extended family or friends. One thought keeps recurring to all of you: What if we go in together to buy our own vacation home? It sounds heavenly! But before you take the plunge, consider these important questions. Who pays what? The first practical consideration when buying… Read more »
The COVID-19 pandemic has touched almost every aspect of our lives. Our personal finances are no exception. If you’ve lost your job or taken a pay cut, you may have trouble keeping up with your bills, which can damage your credit rating. Provisions of The Coronavirus Aid, Relief, and Economic Security (CARES) Act, however, offer… Read more »
Nice homes make a neighborhood beautiful, but good people make a neighborhood great. You can do good in your neighborhood by paying attention to the needs of your elderly neighbors and the physically infirm. Here are some ideas for being neighborly to those who may need a little help from their friends. During weather extremes… Read more »
Illness, job loss and other problems related to the current coronavirus pandemic have left many homeowners and renters unable to pay their mortgages or monthly rent payments. Fortunately, the federal Coronavirus Aid, Relief, and Economic Security Act (CARES), which took effect in late March, provides some welcome relief to homeowners, renters, and the owners of… Read more »
In times of financial distress, some homeowners can seek relief from monthly payments through mortgage forbearance programs. These programs can be helpful during rough times, but they must be handled with care. Let’s take a closer look at mortgage forbearance. How mortgage forbearance works Mortgage companies offer forbearance to borrowers who have suffered income loss… Read more »
Getting your first home mortgage can be intimidating. Let’s eliminate fear of the unknown by answering some common questions. Q: Can I get a mortgage even though I have bad credit? Yes, though you’ll get better interest rates with a good credit rating. With conventional financing you can get a loan with a FICO credit… Read more »
Homeowners face stiff penalties both for paying off their mortgages early and for making their monthly payments late. Here’s how mortgage prepayment and late payment penalties work and what you can do to avoid them. The cost of mortgage prepayment Prepayment penalties are charged when a borrower pays all or part of a mortgage ahead… Read more »
Will it improve your marketability and profit to furnish your rental property? The scenarios vary depending on how the property is used. Let’s see when it makes sense and when it doesn’t. Basics are expected No matter what your target market, it is commonplace for rental properties to come furnished with appliances such as a… Read more »
As baby boomers age, their adult children often face challenging questions about caring for their elders. Not everyone is suited for multi-generational living. Be honest as you ask yourself these questions. What are your parents’ health needs? Do they still have the ability to care for themselves? What health challenges run in your family? If… Read more »
Television ads targeted to seniors dramatize elders pushing a button on a medical alert device when they’re home alone and have a medical emergency. Are these devices effective? How should you choose between brands? When medical alert devices can help Medical alert devices are particularly helpful for seniors, but anyone of any age who lives… Read more »
Choosing a ground-floor apartment or condo presents both advantages and challenges. Is ground-floor living right for you, or would you be happier higher up? Here’s what to consider in making your decision. Positives of a ground-floor apartment Convenience is the biggest attraction of a ground-floor apartment or condo. You don’t have to climb stairs or… Read more »
Experts stress the importance of maintaining good credit before you apply for a mortgage. But after you get that mortgage and close on a new house, what happens to your credit score? Keep working hard on your credit score It takes years of acquiring and faithfully paying off smaller amounts of debt to build the… Read more »
If you’re buying rental property with existing tenants, whether they occupy the entire space or only a basement or garage apartment, you are probably focused on the property’s income-generating potential. But you’re also taking on important legal obligations. Here’s what you need to know before you buy. The lease abides The most important thing to… Read more »
Each day another 10,000 baby boomers enter retirement and face choices about where to spend their golden years. There’s a lot to think about when it comes to choosing where to retire. Let’s take a look at seven factors you should consider. 1. Taxes You worked hard your entire adult life and now look forward… Read more »
Perhaps you want to raise livestock and have your eye on some land in the country. Here’s how to know if that rural land is right for you. Start with experts on rural land Any real estate transaction is detailed, but land purchases have their own particulars. Get referrals to find an experienced real estate… Read more »
One strategy for lowering your mortgage interest rate and the overall cost of your loan is to pay mortgage points up front. What are mortgage points, how can paying them save you money, and when is that the right choice for you? What are mortgage points? A point is simply one percent of the amount… Read more »
If you’re in the market for a home, particularly your first one, it’s advisable to meet with a mortgage lender at the beginning of the process. Having a mortgage pre approval letter from a lender will save time for you, your agent and the seller. What do you need to provide the lender to get… Read more »
If you own a computer, you’ve probably noticed that over time the cost of printer ink often exceeds what you paid for the printer. Here are some tips that will save you money on printing costs. Low cost of entry, high cost of supply If you buy a printer for less than $100, you’ll probably… Read more »
