A recent study estimates that as many as 33% of Americans have $0 saved away for retirement, and over half have “less than $10,000.” Fewer employers offer any form of retirement package, and given the financial demands of the modern household, it’s no wonder that so few workers are able to save for the future. […]
If you’re considering applying for a mortgage to purchase a home, you can expect a long-term commitment. A 2015 survey found that despite 15-year mortgages being available, 86% of mortgage applicants opted for 30-year loans. With a 30-year loan, the borrower pays back the principal (amount borrowed to pay for the home) along with interest […]
If you’re a prospective homebuyer, having a good credit rating is an important part of the mortgage process. And while there are a range of strategies for building and maintaining good credit, identity theft can damage your efforts and rapidly lower your credit score. As discussed in our first identity theft blog post, identity theft […]
It is estimated that senior property owners are sitting on more equity than at any time in history – over $6 trillion. This has led to more seniors into considering a reverse mortgage. If you’re thinking about getting a reverse mortgage, we strongly advise talking with your adult kids about your reasons. Here are some […]
If you’re considering buying a home, you’ve probably heard about homeowners insurance—and you might have groaned about being required to pay for it. Concern over the cost of homeowners insurance is understandable, as it costs the average US homeowner $952 annually (in addition to mortgage payments and property taxes). But while the price of homeowners […]
If you’re planning on using a mortgage to buy a home, mortgage lenders will review your credit score as part of your application. Unfortunately, all Americans are at risk of something that can severely damage your credit score: identity theft. The U.S. Department of Justice defines identity theft as someone obtaining and using another person’s […]
According to the Government Accountability Office, 1/3rd of seniors age 55 and over do not have even a penny of retirement savings, and well over 50% have less than they need to live comfortably. For the children of seniors that are limited in their retirement, there may come a time when you need to come […]
As many long-term homeowners know (and recent homebuyers often learn), remodeling a home can dramatically improve its livability and value. Whether it’s upgrading your kitchen, improving your bathroom, or removing a wall, remodeling can transform a home into your dream home. And the 203k loan can make it happen! The 203k loan combines the cost […]
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