Remodeling your home can cost you a fortune if you’re not careful. This is especially true if you purchased a house that needs renovations and remodeling. But, you can find several smart ways of financing a fixer upper and saving you a pretty penny in the process. Financing a Fixer Upper So, how do you finance a home remodel? What are the ways for financing a fixer upper? Here are four ways that you can finance your remodeling project without breaking the bank. Taking Out a HELOC One way for financing a fixer upper is to take out a … [Read more...] about Four Different Ways for Financing a Fixer Upper Home of Your Dreams
Selling your home with a short sale, which is selling it for less than you owe on your mortgage, not only takes a lot of time and energy, but it also as a lot of long-lasting consequences as well. There are many things that you should consider before going the route of selling your home for less than you owe on your mortgage. Here are a few reasons why short selling may not be a great idea for you. Short Selling Your Home Nukes Your Credit Score The only thing worse you can do to your credit score with respect to your home is having it … [Read more...] about The Dangers of Short Selling Your Home Are Enormous and Long Lasting
One of the most significant financial events in an adult’s life is the moment when they pay off the mortgage on their home. It’s something we spend decades preparing for by faithfully making our payments on time and in full, month after month until the home finally belongs to us. As of 2017, 34% of Americans had 100% equity in their homes, which means they either paid off the mortgage or bought their homes outright and never had a mortgage loan in the first place. If you’d like to join the mortgage-free club in the future, there are many … [Read more...] about Pros and Cons of Paying Off Your Mortgage Early
Buying a second home may seem like an extravagance in today's cash-strapped economy, but it can potentially become a secondary source of income. With low home prices and interest rates, this may be an ideal time to become a real estate investor. However, you'll want to conduct your research carefully and keep the following tips in mind before you invest in real estate and sink your money into a rental or holiday property. Invest in Real Estate and Rental Property Look at Different Types of Investments Before you invest in real … [Read more...] about What to Know Before You Invest in a Rental Property
The decision to invest in rental properties has the potential to be enormously lucrative for your portfolio, but it can also be a great challenge if you’re unprepared for the obstacles involved in property investments and upkeep. Not only do you have to scout out qualified tenants and fulfill any requests they have during their lease, but you also have to maintain the property, repair any issues, stay up-to-date on property taxes, and restore it to pristine condition whenever tenants move out. Rental property ownership is further … [Read more...] about Stessa Review – Smart Income and Expense Tracking for Property Owners
If you have a 15 or 30-year mortgage, it may seem like it will take forever to pay off your debt. Thirty years, or even 15 years, is a very long time to continually have to make payments on something even though it is your house. However, there is a trick to the mortgage payment system that allows you to pay off your mortgage even quicker than you expect with little pain out of your pocket. It is called a bi-weekly mortgage. What Is a Bi-Weekly Mortgage? A bi-weekly mortgage is just like it sounds. You make mortgage payments every … [Read more...] about What Is a Bi-Weekly Mortgage Payment?