We’re just going to start this off with an assumption. Let’s assume that you have owned your home for several years. Because you’ve had it for so long, it’s increased in value, not to mention the unpaid balance is considerably less than you originally borrowed. To put all that into easier terms – you have equity […]
It isn’t much of a secret that home appreciation has quite dramatically increased over the past two years. With that increase, most homeowners have equity. Quite often, a common way to release part of that equity is a cash-out refinance, however not all homeowners are currently eligible. First off – what is it? A cash-out […]
If you were ever involved in Boy Scouts (or have a child who was involved), you may have heard of a certification called a Totin’ Chip. It’s a Boy Scout requirement to earn this certification, and gives you the use and safety rules of using wood tools such as an axe, knife, and a saw. […]
Homeownership is a cycle – think of it almost like a circle. All around the circle are items such as an apartment building, finances, things that are simply helping you work towards that goal of homeownership. Then, the middle of the circle is a larger home – the goal if you will. You may want […]
Since May 2019, mortgage rates have been below 4 percent. With historically low-interest rates, you would think homeowners would take advantage and refinance to save money. However, a recent Lending Tree survey said that 49 percent of homeowners say they are considering a mortgage refinance in the next year. The report also estimated that over […]
“How long do I have to keep this stuff?” is the usual question you ask yourself when you feel you are running out of room for storing all the paper “files” that you might not need. When you purchase lunch, that little receipt you get can go immediately in the trash. Some may keep it […]
In the U.S. tax code, a little-known provision allows homeowners to rent out their principal residence or second home for up to 14 days a year without having to use that money as income. But the taxpayer cannot deduct any rental expenses associated with this income. You can earn as much as you want with […]
As we approach the inevitable end of our lives, we all begin to get things “in order.” You may set up a will, you may want to transfer title to your home to your living relatives before you pass but this could cause an unnecessary expense for your heir. Usually, when we pass property through […]
The bank’s or lender’s purpose for making loans is gaining clients who will repay them as a disadvantage they are not worried about tax deductions. This makes good business for the bank or lender, but how are you supposed to know? Most of us who own a home or those who are wanting to buy […]
Buyers, sellers and real estate agents often use square footage as their common demoninator in determining the value of a home. There is no quick method or automated value method that will give you the correct amount. It may seem like a straight forward process, but there are several variances that can lead to inaccurate […]
