A Tale of Two Families
Tuesday, March 10
It was retirement day for both George and Dave. For George, it was the best time of his life. He was retiring after a long career, with a great pension, beautiful wife, and all his debts which included his house were paid off. Over the years, George saved a significant amount of money. He had bui...
What Are The Benefits of Assuming a Mortgage?
Saturday, March 07
An assumable mortgage is a loan that can be transferred to another party that would take over the responsibility for making the mortgage payments. The servicing lender would transfer the existing mortgage from the current liable party to a new party. Simply put, a buyer takes over the mortgage pa...
Trimming the Fat From Your Household Budget
Saturday, February 28
It is a good idea to review your household budget annually, to ensure that you are spending your money wisely. The first thing you should do is to take a look at your spending habits. Every household has fixed expenses such as: utility bills, insurance, and mortgage or rent payments. Many individ...
Mortgage Options For Investment Properties
Saturday, February 21
Owning investment property has significant financial benefits; these include an additional source of monthly income, equity growth, and owning a tangible asset. There are two different types of investment properties, a property that you could flip and make an instant profit, or a home you could r...
How to Take Control of Your Debt
Wednesday, February 18
In the United States, debt is very common in most households. People acquire debt by using credit in order to purchase houses, cars, appliances, and other essentials in life. In most households, there is a balance between income and debt, and as long as the debt to income ratio stays within that ...
What to Expect During the Mortgage Closing Process
Saturday, February 14
After you have found the house, had your offer accepted, completed the loan application, survived the endless requests for additional documentation, and received your final underwriting approval, you now need to navigate your way safely through the loan closing process. With the end of the home b...