People come to my office expecting to talk about making and saving money. But more and more lately, the conversations we have are about their need to get out of debt. I’m starting to see a trend of retirees, people in their early 60s and even mid-70s, who are in debt up to their eyeballs.
When it comes to financing your home, a basic understanding of certain financial principles will help you get the lowest mortgage rates. For example, you should know that your credit score might determine what kind of mortgage rate you qualify for. Also, it’s crucial to understand the different types of mortgages available, what their drawbacks
With almost all new reverse mortgage loans backed by the federal government, Uncle Sam continues to wield his power to overhaul the Home Equity Conversion Mortgage, or HECM, program. The goal is to reduce a surprisingly high default rate on the loans–about 10%, far above the default rate on regular home mortgages. The government hopes
There’s no sugar coating it: a house is a big purchase. And, to make a good dent in it, you want to start off with a solid down payment. (Although, there are other options that don’t require as large of a down payment, so don’t think a large down payment is the only option.) So
You’ve imagined a house with a big back yard. You’ve dreamed of a two-car garage. You may have pictured the house you’d buy one day, but how do you make that dream a reality? With a mortgage! Now which one do you choose? Fixed or Adjustable? That is the question. The first thing to consider