AND HOW TO GET BACK INTO THE SHALLOWS When you get over your head financially, it is easy to look for a single event to explain how you got there. But it isn’t always a catastrophic event that leads to a large amount of debt. It is more often the accumulation of bad financial habits that leads to an increase in debt beyond what you can handle. Here’s a list of the most common mistakes people make...
Senior homeowners often hold a significant amount of equity in their homes. This equity becomes a potential financial resource in the form of a reverse mortgage, which can turn home value into spendable cash for those aged 62 and above. While this can be an appealing prospect, it is crucial to fully understand the implications, risks, and alternatives before proceeding. "Should my parents refinance...
If you've ever dreamt of paying off your mortgage faster while saving thousands of dollars in interest, get ready for a mind-blowing strategy. It's time to dive into the world of biweekly mortgage payments and discover the hidden benefits that can transform your homeownership journey. Buckle up and get ready to become a mortgage payment ninja! By default, most homeowners make monthly mortgage payments...
MOST OF US DON’T START THINKING ABOUT RETIREMENT UNTIL WE’RE IN OUR LATE 50S OR EARLY 60S. BY THEN, IT MIGHT BE TOO LATE TO MAKE CHANGES. HERE’S WHAT TO START THINKING ABOUT IN YOUR 40’S 1. LACK OF A RETIREMENT VISION Retirees often lament the end of work life. They say things like, “What do I do now? Grow roses? Paint the fences? Then what?" Being lost about what comes next makes it...
In real estate, the asking price is often as much about psychology as it is about reality. For example, take the strategy of pricing your home below market value... "I priced my home $9,000 under the market," says Rebecca Ricci. "It was a gamble, but my home was unique. People either love it or hate it. Also, the market was flat. Houses were starting to set on the market a little longer." The lower...
“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run. Refinancing your mortgage is something most homeowners consider at least once throughout the lifespan of their home loan. It allows you to pay...
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