Should You Refinance Your Mortgage? 6 Questions to Ask First

In June of 2019, mortgage rates across the U.S. fell to a three-year low, dropping to a 3.73 percent average. Considering that mortgage rates in 2018 averaged out at 4.55 percent, this has caused real estate professionals, mortgage brokers, and the general public to sit up and take notice. Naturally, many homeowners are wondering if now may be a good time to refinance. What Is Refinancing? A... Continue reading

How Much Money Do You Need To Buy A House?

You’ve been diligently saving, and that savings account you’ve amassed looks pretty healthy. Now you’re ready to take the plunge and buy your own home. But have you considered all the items you’re going to need cash for between now and closing the deal? Are you sure you have enough?   Earnest Money Deposit   Earnest money is pretty much what it sounds like — cash placed on the table at the... Continue reading
Loan Comparison: What to Look for When Buying Your First House

Loan Comparison: What to Look for When Buying Your First House

Date: February 2, 2017 Home loans might seem intimidating to new borrowers because they require more than just pinning down the interest rate or determining what your monthly payment will be. However, choosing a home loan is really just a matter of knowing what you’re paying for and comparing what each lender is willing to offer. Then you can determine who’s offering you the best deal. Continue reading

Loan Comparison: What to Look for in Your Next Loan

Getting the best loan for your needs means understanding all the terms before signing on the dotted line. This includes knowing the difference between a secured and unsecured loan, as well as how interest rates, fees and loan periods can affect the monthly payment.  Continue reading

How to Get Out of Debt

Whatever the elusive "proper" level of debt may be, a lot of people are exceeding it. Despite generally widespread prosperity for the past decade or so, Americans have been going broke in record numbers, filing for personal bankruptcy as never before. If you see such drastic action looming in your future, better to take some steps now before your credit rating is ruined. Roll your debts into a... Continue reading

How to Stay Debt-Free

Stick to Your Budget Once you've gotten out of debt, it may be tempting to start splurging. However, that could start you back on the road to more debt. According to Clare Levison, CPA and author of "Frugal Isn't Cheap: Spend Less, Save More, and Live Better," "To stay debt-free, you need to embrace the mentality that frugal isn't cheap -- it's smart. Being frugal means taking pride in using... Continue reading

Bankruptcy, the Last Resort

When you can't possibly pay what you owe and informal arrangements with creditors have failed, it might be time to think about declaring bankruptcy. Remember, bankruptcy is a last-ditch solution, and it's not a do-it-yourself proposition; you'll want to hire an attorney with expertise in bankruptcy to help you make important decisions that will affect the outcome. The Bankruptcy Abuse Prevention... Continue reading

Budgeting 101: How to Pay Off Old Debt

Whatever the source of your old debt -- old student loans, past due credit cards or something else -- it can feel like a millstone hanging around your neck, especially if debt collectors are hassling you. However, don't let the fear or uncertainty get the best of you. According to Eric Roberge, a certified financial planner in Boston who works with young professionals across the country, "The... Continue reading

Personal Finances: When's It Worth Going Into Debt?

To charge or not to charge? That’s a question the editors at Kiplinger hear a lot. Is it okay to go into debt for a wedding ring? Grad school? A car? Travel? Furniture? Of course, what the readers are really asking is if going into debt is worth the impact to their personal finances. The short answer: It’s usually not. When you’re in debt, you limit your options and you have less control over... Continue reading

3 Budget Tips for Paying Off Credit Card Debt

3 Budget Tips for Paying Off Credit Card Debt If you have credit card debt you're trying to pay off, you're not alone. As of the start of 2013, reports that Americans had more than $600 million of credit card debt. "Paying off debt can be a long, tedious process and leave you feeling a bit deprived and sometimes like it will never be over," says Erin Baehr, a certified financial... Continue reading