You signed a mortgage for the next 30 years, but looking down the road, do you really want to be paying a mortgage in your 60s and 70s? If you are like most Americans, you want to pay off your mortgage as fast as you can. The good news is that there are ways to do that even without being a millionaire. Here are some simple tricks. Make Miscellaneous Extra Payments The easiest … [Read more...] about How to Pay Off your Mortgage Faster
Buying a new home as a single parent can be financially challenging, but worth it in the end. Nothing says that you cannot purchase a home if you do not have a spouse. There might be some challenges you will have to overcome in order to achieve homeownership, but it is definitely a possibility for many single parents. Be Realistic The first step is to be realistic about what … [Read more...] about Buying a New Home as a Single Parent
Nothing in life is free, including refinancing. Just because there are refinancing costs, though, does not mean that it is not worth it to refinance. If you are able to save money every month and will recoup the closing costs you paid before you move from the home, then it is worth it. Typically, a refinance costs between 3 and 6 percent of the loan amount. Understanding the … [Read more...] about A Guide to Common Refinancing Costs
The illustrious emergency fund has made its way around dinner table conversations through the centuries. Everyone has heard of them, yet a majority of households don’t have one. The importance of having money set aside for an emergency cannot be talked about enough, though. Every single homeowner should have an account that they could turn to in the face of an emergency. How … [Read more...] about Why Should every Homeowner maintain an Emergency Fund?
Deciding to give up on your marriage is not an easy choice, but once you have that hard part over with, you have another hard decision – what to do with the mortgage. Unfortunately, the mortgage in a divorce does not dissolve as easily as a marriage does; it follows you around until you do right by it by either selling the home or refinancing the mortgage. Selling the … [Read more...] about What Happens to Your Mortgage in a Divorce?