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.
Baby Boomers fretting over what will happen to all their belongings when they die have good reason to worry. Millennial offspring in large numbers are shunning their parents’ and grandparents’ precious furniture, household goods and collections. Instead of being insulted, experts suggest that Boomers be proactive. Don’t wait until poor health or a financial emergency… Read more »
Are you in the market to refinance your home? Before signing any paperwork, it’s best to do your homework. Work the numbers. The top reason for refinancing is to obtain a lower interest rate. Depending on the terms, this could save you several hundred dollars a month. Those savings add up. However, you also need… Read more »
Nearly 30 percent of home buyers today are using loans secured by the Federal Housing Administration or FHA — reason enough for home sellers to consider making their homes FHA-friendly. Here are a few tips to help understand the FHA process. Lending limits. Head to HUD.gov to see if your home qualifies for an FHA… Read more »
Before the House Hunt Begins, Fix Your Credit. When buying a home and applying for a mortgage, a good credit score is critical. A home can be purchased with less than stellar credit, but often at interest rates and terms that aren’t to your advantage. Improving a damaged credit score is something that takes time,… Read more »
The next time the monthly utility bills arrive, resist the urge to blindly write a check or schedule a payment. Take the time for a more in-depth examination. You just might find a way to trim the bill. Understanding your electric bill. Using a fixed rate, the power company charges a set rate of x… Read more »
Setting up a home gym isn’t as expensive or labor intensive as you might think — and just might provide the incentive you need to exercise. Take a look. Location. No need to build an addition or finish off a basement. A spare bedroom, an office space, or garage can all work. In the right… Read more »
When applying for a mortgage, one of the first decisions a buyer must make is whether to lock in an interest rate on a mortgage. It’s somewhat of a gamble, but can be less stressful by paying attention to financial trends. How the process works. While shopping for homes, it’s also wise to shop for… Read more »
Your children’s precious years are preserved on tape and in photo albums. Or are they? Old video tape degrades over time. Photos turn yellow. Here’s how to rescue those memories for the digital age. Preserving photographs. Purchasing a scanner is a great first step to preserving photos. Choose one that is NOT a combination printer… Read more »
It’s not uncommon for an elderly homeowner to pass along a house to heirs. Let’s examine ways to do so, understanding that laws in each state vary and federal tax code changes. Consult an attorney before making any decisions. The most basic way. The easiest way to pass a house to children is through the… Read more »
Apartment life, by definition, means you’re living in close quarters — literally on top of one another in most instances. Needless to say, getting along with your neighbors is a must. Here are six things you can do to promote harmony. Get to know your neighbors. It’s much easier to get along with neighbors you’ve… Read more »
If sustainable living is an important part of your lifestyle, you might be a candidate for a “green mortgage” when purchasing your next home or refinancing your current home. A little-known lending product, the green mortgage can save you big money while helping you live a more energy-conscious lifestyle. A “green mortgage” is another name… Read more »
Having homeowners insurance is a necessity, but there’s no reason to pay more in premiums than you must. Here are multiple ways to save money while still staying safe. Insurance rates are calculated by the insurable risk you pose to the company. Most of the savings listed here reduce risk. Don’t forget: The insurance amount… Read more »
Accumulating down payment money for a house is important, but can be challenging, especially for millennials bogged down in massive student loan debt. But don’t despair. Help is available through down payment assistance programs — in other words — free money. The Federal Housing Administration, or FHA, along with the Veterans Administration (VA) and some… Read more »
Do you have bad credit? While legitimate credit repair services can help improve your credit scores, you can do the work yourself and save money. Here’s how. Pull your credit report at www.annualcreditreport.com. It’s free. Each credit reporting agency, Experian, Equifax and Transunion, will have its own detailed report on your history. Study each and… Read more »
If you’re worried your student loans will prevent you from buying your first home, don’t fret. Here’s what you need to know to land that first house. What the mortgage company considers Your potential lender will look at your FICO score, which can range from 300 to 850. A score above 650 is considered good…. Read more »
Hurricanes, tornadoes, floods, and earthquakes strike indiscriminately, which means every homeowner should be prepared for life-threatening emergencies. Here are ten essential items to have on hand. A source of power. A generator will keep your refrigerator working to preserve food, and provide lighting at night. Gas generators provide more versatile power but need a supply… Read more »
If you’re in the market for a home with a hefty price tag — we’re talking a half-million dollars or more — it would be a good idea to study up on what’s known in the mortgage industry as a non-conforming jumbo loan. How a jumbo loan works. Homebuyers seeking a jumbo loan need to… Read more »
The so-called “McMansions” are out and smaller homes with open floor plans are in. Let’s take a look at who is leading the trend and four resulting benefits. Trendsetters. Empty nesters and young couples with no children and limited budgets both find smaller homes desirable. Also fueling demand for smaller houses is the trend toward… Read more »
If you received an unusually high property tax bill, don’t be afraid to fight back. Here’s how to effectively question your tax appraisal and file an appeal. Taxing authorities have two ways to boost tax revenue. One is to raise the tax rates. Typically, several local entities each has its own tax rate, which is… Read more »
The equity in your home is an untapped resource for financing such things as remodeling projects or a child’s college education. Is it wise to take a home equity loan or a line of credit, and how do they work? The equity in your home — the value of your home minus what you owe… Read more »
