Let's look at a scenario. Congratulations, you have always wanted to own a home. But you do not have enough money saved to put down 20%. What can you do? You are advised that you qualify for 2 mortgages. 1) An interest-only and the normal principal/interest payments. What does this...
Let your family members earn that inherited house
Let's look at a scenario. You give birth to a child. Over your working years you were able to provide a good life with the income you earned. Because of your efforts, your child has been able to earn a better income than you ever did.During the years you were...
Pay Extra On Your Mortgage
So you plan to sell your home in, say, 7 years. Does it make sense to throw extra money at it to pay-down the principal? Let's look at a scenario. You took out a 30-year mortgage, with a "good rate," which should give you a manageable monthly payment. You begin...
Refinance Addict
Hello. Hope you had a great day today. Are you a homeowner? Use your home to reduce other debts. No, not a Home Equity Line of Credit (HELOC). How many times have you refinanced since becoming a homeowner? Once, twice, more? Did you reduce other debts by including them in...