Search Results for: mortgage

Interest rates – Will They Rise? And What That Means For You

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It appears that the major economies around the world are arriving – albeit at different paces – at a turning point. After years of cautious talk about possible recovery, the clamoring from the markets for a raise in interest rates will surely soon lead to some action. But what does this actually mean for those of us who aren’t active investors? Most people are aware of the primary impact of a rise in interest rates:  tracker mortgage, credit card and loan repayments will quickly increase, as well as the cost of new borrowing. So if you’re thinking of borrowing for a house, car or anything else it might be better to act sooner rather than later (and go for the … Read more

The Danger Of Buying A Home In A New Neighborhood

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The Danger Of Buying A Home In A New Neighborhood

Buying a home in a new subdivision can be exciting. You’re often the first person to live in your home, and it likely will have many of the latest features and amenities. But there’s a danger too — one I know only too well. In 2009, my wife and I bought a new home in a new neighborhood. Today, with the developer still building more houses in the subdivision, we’re finding that we can’t easily sell it — at least, not without losing $20,000 or more in equity. We’ve learned the hard way that it’s incredibly tough to compete with the developer who built your house, especially when the firm is still building more models nearby. Here are a few things … Read more

Are You Feeling Peer Pressure To Buy Whole Life Insurance?

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Pressure To Buy Whole Life Insurance

A friend of mine recently complained about an old college roommate who was trying to pressure him to buy whole life insurance. He was having trouble figuring out how to tell him no, because they’d been so close back then. This is an all-too-common occurrence for young professionals in their late 20s and 30s. This is the time when friends and family are test-driving new professions — like sales gigs, for example. Many insurance brokers push whole-life policies because they provide them with the juiciest of commissions. Several governmental surveys suggest that the average American will change jobs more than 11 times in his life. For many of us, it’s only a matter of time before we take a sales job that … Read more

Why I Don’t Mind Losing Money As A Landlord

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I have a confession to make: I lose money on my rental property every month. But I’m OK with that. I’ve got a long-term plan. Or I’m still delusional and hoping for a turnaround in the housing market. Either way, I stubbornly refuse to lose $30,000 in home equity by selling. I’d rather pay $300 a month out of my pocket in the hopes of hanging on to what little equity I have left. It’s a Renters Market Out There Much like a home buyer, a renter has a lot of purchasing power. It’s a pure case of supply and demand if there ever was one. There are simply more homes on the market for rent in many parts of … Read more

How to Get the Most Out of This Holiday Shopping Season and Black Friday

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It is going to be a tough holiday shopping season for businesses. Thanksgiving and Black Friday are going to be in late November this year. Businesses will lose about six days of shopping and sale madness if they wait. The government shutdown, unemployment, and consumer worries are weighing on shoppers’ minds. These things will actually benefit shoppers this holiday season. Most retailers are moving their holiday sales earlier into the month. Shoppers will start to see promotions before Black Friday. More retailers will be offering free shipping this holiday season. Now, more than ever, the holiday season is sooner rather than later. It is before Black Friday, even. The holiday season is moving on to the left on the calendar. … Read more

How Macro Economic Issues Affect Middle Class Americans

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The stock market is humming along lately, but this is of course despite a few recent macro level economic hiccups. Thanks to the federal government and the shutdown the economy has continued to remain sluggish. According to a report recently released by Standard & Poor’s, the government shutdown cost the United States $24 billion in lost production and growth. It took out $24 billion from the U.S. economy over the 16 day shutdown. My Interview With Frank Trotter, President of Everbank Direct In this episode of the Money Q&A podcast, “Your Money: Your Choices”, I interview Frank Trotter, the President of Everbank Direct, and we talk about how macro economic issues  affect everyday middle class Americans. Should you be concerned … Read more