One of the most difficult aspects of saving money to buy a house when you are in an apartment is trying to save money when a good chunk of your paycheck is going toward rent. But all it really takes is some strong determination and reorganization of your financial affairs to get your plan off [...]
If you are a recently divorced single parent, and looking to re-finance, here are a few tips and ideas. First of all, in such a situation, there is good and bad news. The bad news is that the home owner is not likely to find a lower interest rate for the simple reason that they [...]
In the market for a new house? Follow these tips for some great advice: If you can’t commit to remaining in one place for at least a few years then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing [...]
How can a simple number determine whether you can buy a house? Your credit report contains a history of how you’ve paid your bills, how much open credit you have, and anything else that would affect your creditworthiness. Your credit score boils down all of that information to a three-digit number. Using the credit score, [...]
You’ve repaired, de-cluttered, deep cleaned and polished your Maryland home for sale until it shines. But how do you keep it that way when you and your family have to live in it every day? Here are 5 tips to keep your Maryland home for sale and ready to show (without driving yourself crazy): Keep [...]
When shopping around for a home insurance policy, what makes good sense, what should you search for? For the most security, find a home insurance policy that, like all property and casualty policies, pays for certain kinds of accidental damage to your home, belongings, or other structures. Coverage for this kind of damage is called [...]
Points are fees the borrower pays the lender at the time the loan is closed, expressed as a percent of the loan. (On a $100,000 loan, 2 points means a cash payment of $2,000). The more points you pay, the lower the interest rate. Paying points can be viewed as an investment that yields a [...]
Selling your home is easier than you may think, although it does require more effort than just putting a “For Sale” sign in the yard. Proper planning and preparation for the sale, choosing a sales agent, determining the price and marketing your home should all be carefully taken into consideration. House hunters look at dozens [...]
Be informed before you delve into buying a home. Home buying is one of the biggest decisions you will make in your life. It is a huge step, but one that could lead to a fall if you are not careful. Informed buyers save money and avoid last minute hassles. Use this checklist to help [...]
A VA loan isn’t a loan administered by the Veteran’s Administration so much as it’s a loan by a traditional lender that is backed by the VA. Veterans looking for a loan to purchase a home are often encouraged to get a VA loan. Though this is a great opportunity for veterans, a VA loan [...]
Many people these days hold down more than one mortgage; often a primary mortgage that covers the house and a secondary mortgage, which is usually debt consolidation or home repairs. If you get in a situation where bankruptcy is required, you will have a few things to consider. Although you can file bankruptcy without an [...]
Owning your own home is not always an easy endeavor on average occasion, keeping up with mortgage payments, fixing things when they break, caring for yard work, landscaping, driveway and roofing repairs and more. But, in this day of financial down-turn, foreclosures are at record highs and if it happens to you, it can be [...]
Ever since the 2008 financial meltdown and real estate crisis, banks have made some dramatic changes to their lending policies. That’s making it harder for the self-employed to secure a mortgage. If you own a company and are in the market for a home, here are a few ways to ease the process and boost [...]
Renting Wisely: If you choose to rent your home, there are several things you can consider to ensure that you spend your monthly rent money wisely. First, you should think about what kind of a home you really need. If you don’t have a large family or pets, renting an apartment may be wiser than [...]
For most people, if you can afford it, owning your own home is a better financial decision than renting. The simplest explanation for this is that with owning your own home, the monthly mortgage payments you make go toward paying down the amount you owe, and at the end of your mortgage term you own [...]
If you come across extra cash and want to pay down your mortgage, stop and think first. Is this something you want to do? When you prepay part of your mortgage, you end up paying less in interest. But in the bargain, you also lose part of your mortgage-interest tax break. Your true savings then [...]
Everyone who owns a home or property gets to pay property taxes. Most people make monthly payments to a mortgage company to hold in an escrow account until they are due. “Isn’t that nice service for my mortgage company to provide?” you might ask. Well, answer this question then. Who is earning the interest on [...]
Commonly referred to as PMI, private mortgage insurance is, for all intent and purposes, a loan taken out to protect the lender from a homeowner who might default on his loan. For many home buyers, private mortgage insurance may not be the most celebrated form of insurance, but, for some, it’s an absolute must. In years past, [...]
Many years ago, young families were encouraged to start out with and buy a “starter home.” Today, more than half the population are home owners. The mentality now is that buying a house is the “American Dream.” Attitudes about how to buy a home have gone up and down as much as interest rates during [...]
Many people spend beyond their means, often living off credit cards to keep up with a particular lifestyle. Cutbacks, lay-offs and salary cuts can have this effect on people, particularly if they are used to living a certain way. “House poor” is the term for those who spend too much on house payments and maintenance. [...]
Buying a home, like owning a car, means buying homeowner’s insurance. But, if you own or obtain a dog, your insurance could be revoked, denied, raised or removed. Insurers may charge you a higher rate, exclude your dog from liability coverage or turn you down cold, based on your dog’s breed, history of claims, the insurer’s dog [...]
First of all, what is a lowball offer? A lowball is an offer made on a house that is much less (usually 10% or more below) than the price the seller is asking. Lowball offers are common in a buyer’s market because many people are having a hard time getting rid of the houses they wish [...]
It’s not rocket science, yet getting a mortgage and understanding mortgages can be mind-boggling. The description of a mortgage is simple: A long-term loan that a borrower gets from a bank, thrift, independent mortgage broker, online lender or even the property seller. The house and the land it sits on serve as collateral for the loan. The borrower signs [...]
It seems so very simple. You pay a couple hundred dollars and get the “secret” to making millions practically overnight in real estate. It all sounds so tempting. You walk in with nothing, sign some papers and walk out with cash and the keys to a house. And, you can do it over and over [...]
In today’s sagging real estate market — where homes often remain unsold for months on end — sellers sometimes have no choice but to move and leave their properties vacant for a time. If you’re one of those owners, you might be surprised to learn that an insurance provider could drop your homeowner’s policy coverage. That’s because empty [...]
Most people don’t even think about garage doors when they are buying a home. But the look of the garage, particularly an attached garage, can make or break the look of your house. You might purchase a home with a nice garage that matches the color and look of your home, yet the garage doors [...]
If you’re thinking about declaring bankruptcy, but you have enough money for a down payment now or can lay your hands on it now, then be cautious. However, if you’re thinking about declaring bankruptcy because you’re flat broke, and you’re looking for a ray of hope, then the news is better. First, the warning. If [...]
If you are still early in the foreclosure, perhaps you just received notice from your lender that your home will be going to auction in a few months, then there is still time to possibly save it. Check out the following tips to see if any can help you in your situation. Sell the property: [...]
Coming up with a down payment on any house has traditionally been one of the biggest obstacles to buying a new home, and your new house in Maryland is no exception, especially if your income is fixed or not especially high end. However, savvy buyers can take advantage of programs designed to cure the down [...]
