Category: Financing

Are Closing Costs Tax Deductible? What You Need to Know Before Filing With the IRS

Tax deductions are vital to many homeowners’ budgets. Understanding the tax code and how it applies to your housing situation allows you to save thousands of dollars, which can be used to pay down the mortgage or fund home repairs and renovations. Many new homeowners ask: Are closing costs tax deductible? This is an important question,… Continue reading Are Closing Costs Tax Deductible? What You Need to Know Before Filing With the IRS

Reverse Mortgage Pros And Cons: What You Need To Know Before Signing On The Dotted Line

Maybe you’ve seen commercials for reverse mortgages. Or: Maybe you’ve heard horror stories. While you may not know much about them, you do know there are reverse mortgages, and with everything, there are goods and bads. Knowing the reverse mortgage pros and cons would go a long way in helping you make a decision. But… Continue reading Reverse Mortgage Pros And Cons: What You Need To Know Before Signing On The Dotted Line

Find Out How Much House Can I Afford With my Salary

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Now that winter is almost over thousands of people will begin actively searching for a home. If you’re one of these people the first thing you want to ask yourself is, How much house can I afford with my salary This is important so that you don’t set your expectations too high and find the right… Continue reading Find Out How Much House Can I Afford With my Salary

What Will Happen with Mortgage Interest Rates in 2016

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Last year Freddie Mac reported that their lowest 30 year fixed-rate mortgage rates hovered between 3.59% and 4.09%. This is the least amount that rates have moved during a calendar year since 1998. And the continuation of low rates has helped consumers, in particular first time homebuyers. With rent prices rising and mortgage payments staying… Continue reading What Will Happen with Mortgage Interest Rates in 2016

Real Estate Investment Pays Off Over Years

Investment real estate has made more millionaires in America than any other form of investing, a survey by Housing Predictor shows. Millions are made in investment real estate. The majority of the wealthiest families in the Nation have made their fortunes investing in real estate. Many start out investing in simple single family homes, parlay… Continue reading Real Estate Investment Pays Off Over Years

Navigating the New Year

By Brad Risen Economist Happy New Year! It’s 2009, the year that America will go head to head with the U.S. economy like no other since the Great Depression. So enjoy your New Year’s punch now. You’ll need it! I have never been a pessimist. I grew up thinking and being the serial optimist. But… Continue reading Navigating the New Year

Home Mortgages and Refinancing

Mortgage rates have been on their way down after the Fed cut the prime rate to near historic lows in an effort to help stabilize the economy. More than 5-million homeowners are facing re-adjustments in their adjustable rate mortgages nationally in 2009 and 2010, and the drop in home borrowing rates will provide the difference… Continue reading Home Mortgages and Refinancing

Is Now the Right Time to Buy a Condo?

Is it Really Time to Buy a Condo? By Robert Jones Inventories are rising, prices are falling, investors are bailing out, and developers are getting desperate. For someone with a little extra cash, this may look like the perfect time to buy a new-construction condo. After all, you’re getting a brand-new building with slick finishes… Continue reading Is Now the Right Time to Buy a Condo?

HAMP Revamps Underwater Refinancing Program

By Kevin Chiu The U.S. government’s giant lenders, Freddie Mac and Fannie Mae have revamped the Home Affordable Modification Program (HAMP) to make it easier for more underwater homeowners to refinance mortgages. The government sponsored enterprises, under the direction of the Federal Housing Finance Agency detailed the changes Tuesday evening. The program is intended to… Continue reading HAMP Revamps Underwater Refinancing Program