Taking out a loan is never ideal, but it may not ruin your finances if you borrow the right way. This usually means choosing loan options that come with low fees and a competitive interest rate, and of course making sure you’re borrowing for reasons that will benefit you in the long run. One type
Even if you have no desire to prolong your mortgage payments or add to the debts you have, there are plenty of good reasons to borrow against the equity in your home — commonly called a second mortgage. Interest rates are typically much lower than other borrowing options, for example, which means you could be
I’m sure that you’ve heard that your home can be a great asset. Some people will beg to differ if you have a mortgage because you don’t truly own your home. The bank or your lender does. However, you do have some freedom and flexibility when you become a homeowner. If you ever needed to
As a homeowner, the process of renovating, remodeling, and upgrading your property to create your own private corner of paradise can be an expensive hobby. The silver lining, however, is that some upgrades can help pay for themselves over the long run by saving you money on your home insurance bill. Granted, the renovations that
A little over ten years ago, Sarah and I moved into the home that our family has lived in ever since. Back then, we had one toddler and another baby on the way; today, we have three children, two of which are inching toward the precipice of their teen years. Those ten years have taught
Long-standing rules authorize valuable tax breaks for homeowners who itemize their deductions on Form 1040’s Schedule A. They’re able to claim annual write-offs for payments of mortgage interest and property taxes. I noted in previous columns some of the changes introduced by the Tax Cuts and Jobs Act that Congress passed in December of 2017.