The student loan debt bubble recently approached the $1.5 trillion mark, with few signs of slowing down. This problem isn’t isolated to recent college grads and 30-somethings, either. Parents and grandparents are on the hook for millions of loans both as current and former students themselves or co-signers of loans. Even more alarming is the fact that 40% of the 65+ year-old borrowers or co-signers are in default on their loans. The personal and societal consequences student loan debt, combined with the problem of people not saving enough … [Read more...] about Should You Save For a House or Save For Retirement When You Have Student Loans?
Although owning and renting out properties can be a lucrative opportunity, being a landlord can be incredibly challenging. Dealing with unexpected property maintenance problems, unpredictable tenants, and the occasional prolonged vacancy are the banes of many landlords’ existences. But, these issues shouldn’t get in the way of growing your rental income as a property owner. Fortunately, there’s an easy way to avoid these common mistakes made by new landlords, and that's the Cozy app. Launched in 2012, Cozy has become the premier app for … [Read more...] about Review of Cozy: Free Property Management Software
Being a landlord is a great way to build your wealth and increase your net worth. In fact, Money magazine listed becoming a landlord as one of its highest-rated ways for the average American citizen to become a millionaire. Even after the housing bubble and credit crisis that hit the United States in 2008, real estate is a great way to increase your wealth, save for retirement, and supplement your income with a new stream. So, how do you go about evaluating if rental real estate is right for you? There are a few things that you need to … [Read more...] about How to Evaluate the Rate of Return on Rental Property
Planning for retirement is one of the most important things every adult should do, but we often focus solely on the saving money aspect without considering what lifestyle we’d like to lead during our post-working years. For instance, do you think you’ll want to sell your home to live in a cheaper area or move into a smaller home once the kids leave the nest? To help you determine whether you should rent out your current home, continue to live in it, or sell it altogether, here are some pros and cons of downsizing before or during … [Read more...] about Pros and Cons of Downsizing Your Home When You Retire
Getting loan approvals is not always an easy task. It may end up having multiple detours or even have more people involved that you initially hoped. But still, the thrill of it all, and getting your application approved is downright fantastic. Loans, especially the big loans like the ones enough to get you enough funding to buy your dream home, can have a lot of players involved. And in most instances, the number-one player should be your loan officer. Chances are that you won’t manage to get through all the realtors, escrow officer, flood … [Read more...] about The 6 Diamond Qualities Your Loan Officer Must Have
If you’re like most people, your mortgage is the costliest payment you make each month. Making your mortgage payments can be a struggle, whether you’re buying your first house or twenty years down the road in a house you’ve made your home. While you might feel stuck in the monotony of your mortgage payments, there’s hope. Read on for 5 ways you can save money on your mortgage today. #1 Improve your credit score One of the biggest factors lenders look at when deciding on APR is your credit score. FICO credit scores are the standard measure … [Read more...] about 5 Ways to Save Money on Your Mortgage