Retired people may find that their financial strength lies in their homes, not in their bank accounts. A reverse mortgage is a great way to borrow funds against your property’s equity. This method can help you add to your monthly income, spend on better quality living, or even invest further. However, there are certain qualifying...
Lower mortgage rates often allow a homeowner to pay off mortgages in advance. However, you’ll need to determine if that’s a good idea or not. You may explore certain other alternatives like that of investing a portion of your extra income in a 401(k). You may pay off your mortgage earlier if you haven’t applied...
Image https://cdn.pixabay.com/photo/2017/05/18/11/04/key-2323278_960_720.jpg From 1st January 2018, the Canadians who are getting a mortgage, or renewing their old one, or refinancing their mortgage may require proving that they have enough ability to cope with the rising rates which are considerably higher than their contract rate. The new rules were announced by the federal financial regulator of Canada...
Lending a mortgage is a huge risk for the companies who are in the home loan business, so it is hardly surprising that a huge number of applicants are turned down and have their dreams dashed each year in the USA. If this is something that has recently happened to you, don’t panic or become...
Though home prices keep climbing, yet homes remain affordable throughout the US. What may be the reason behind this? Well, the present mortgage rates are tempering the rising home prices. In the last quarter, more than 7 among 10 US homes were deemed as ‘reasonable’ to households which earn the median income of the nation,...
You are considering buying or building a new home. You cannot afford the mortgage payments without selling your present home. The market conditions do not allow you to sell your present home without suffering a huge loss. Have you considered renting your present home and using the rent to make the mortgage payments? Creative Financing...
These are affluent times that we live in. Our lives are stuffed with all of the things that we desire, from entertainment systems to ornaments to crowded wardrobes to music collections, the list goes on. Although it may be nice to have all those things in some ways, becoming overwhelmed is also very easy. Your...
Buying a UK holiday home for letting purposes is very much something that needs to be done as much with the head as with the heart. For example, a property may strike you as being lovely and somewhere you would wish to spend your holidays but would it necessarily seem so to others? Of course,...
Once you’ve finished your house search, made an offer for the property, and been pre-approved for a mortgage, you may feel as though that home is yours. Unfortunately, however, the process is far from finished. You still have to prove your creditworthiness to the underwriter before everything will go through on the sale, and if it...
If it might be unrealistic bordering on naïve to assume that anyone really likes paying for insurance. However, it is something that might one day be all that stands between you and financial disaster so it might be important to take the matter seriously. There are, of course, dozens if not hundreds of different types...