Are you in the market for a new home? If so, I wouldn’t blame you if you want to avoid being house poor. What does it mean to be “house poor?” It’s a term used to describe people who have overspent on a home and cannot fund other expenses (i.e. housing expenses) or build wealth. …
If you’ve been paying attention to the housing market recently, you will have noticed it’s on fire. From Seattle, WA, to St. Petersburg, FL, there isn’t a market that hasn’t been affected by the low mortgage rates and high millennial demand for housing. The market hasn’t seen this much activity ever (even more so than …
Taking out a single loan against the equity in your home will enable you to consolidate other debts such as a car loan or hire purchase agreement. You could reduce your overall debt, simplify your budget, and take the pressure off your finances if you release some of the money you’ve already paid towards owning …
It occurs when a loan secured by real estate is provided by a different source than the original lender. First priority is given to the first lender, and the second priority goes to the second lender. Whenever the property is sold, the first lender is entitled to receive the equity therein. You may lose your …
What is the process of getting a second mortgage? Read More »
Buying a car can affect your credit score—and your home purchasing power—in a variety of ways. If you hope to buy a home soon and can afford to wait to get a car, it might make more sense to buy a house first. Did you know that buying a car before you buy a home …
Buying a Car Before Buying a House: What’s the Right Order? Read More »
Home renovations are expensive and often go above the budget due to the human tendency to desire the best. Money is no object, unfortunately to a few. Many have to work on a restricted budget. Careful planning culminated by intelligent choices is the only way to save money during your home renovation significantly. Below are …
Are you ready to buy a home? It’s an exciting—and stressful—process. When you’re taking such a huge step, you have a lot of planning and evaluating to do. As you look over your finances, you might wonder how much money do you need to buy a house? In short, many buyers come to the table …
If you’re one of the millions of Americans who have declared bankruptcy, financial recovery can seem like a pipe dream. But don’t give up. According to a study by the Consumer Financial Protection Bureau, people’s credit scores increased steadily after filing for bankruptcy. While any credit improvement is good news, is it enough to offer …
If you’re a new homeowner and not a finance professional, you may be new to refinancing a mortgage. In layman’s terms, refinancing is taking out a new mortgage to replace your old one. You may not know that there’s actually no legal limit to how many times you’re allowed to refinance. But that doesn’t necessarily …
How Often Can You Safely Refinance Your Home Mortgage? Read More »
For many years, whether or not millennials would ever fully enter the home buying market has been a hot topic. Compared to previous generations, many millennials are still would-be first-time homebuyers. And, the housing market has long been awaiting their arrival. Has the time finally come for millennials previously unable to do so to buy …
Home Ownership For Millennials: Could it Finally Be Possible? Read More »
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