Why Not A Low Interest Mortgage
Oct14

Why Not A Low Interest Mortgage

Tweet Recently I saw a tweet on Twitter from @ChimayLad who asked @DaveRamsey – “If your mortgage rate is lower than what you can historically earn in the stock market (6 to 8%), why pay house off early?” Dave’s reply pretty much said it all “Risk. We have done detailed research and 100% of the foreclosures occur on a home with a mortgage. Proverbs 22:7” The question posed was not unusual. I know...

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The Paid Off Home Mortgage
Nov16

The Paid Off Home Mortgage

Tweet The biggest purchase you will buy is a house.  The biggest expense you will have is your house.  Most likely the largest debt you will have is your house.  Most people finance a house for 30 years, some even 40 years.  This financing is what is called your mortgage.  Many don’t care about the length of time the mortgage is for, they just want as low a monthly payment as possible.  Others don’t care because they know...

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Owning a home – a dream or a nightmare?
Nov13

Owning a home – a dream or a nightmare?

Tweet It’s the American dream to own a home.  However, sometimes that dream turns into a nightmare. A home is a wonderful thing, it means privacy, independence, to some it means success and status symbol.  But a home is much more than all these things, it is a huge financial commitment and I don’t just mean the mortgage payment. The American Dream Buying a home is much more than achieving the American dream, it requires a...

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Refinancing A Good or Bad Idea?
Oct18

Refinancing A Good or Bad Idea?

Tweet Interest rates are low and you may be thinking about refinancing.  If you do, there are a couple of things to consider. When I bought my first home I was still digging my way out of debt so I ended up getting a FHA loan.  After two years, I refinanced to a conventional mortgage, I did so for two main reasons.  One, I wanted to drop the mortgage insurance that was required with a FHA loan, that saved me around $70 a month. ...

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Should I Short Sale?
Sep07

Should I Short Sale?

Tweet A few years ago you bought a house.  You planned, saved and finally attained the American dream by owning a house.  It was exciting and scary all at the same time. You have been making the payments, mowing the lawn, making repairs, making it a home.  You have it furnished nicely, invite friends over to socialize on the weekends, the kids play in the back yard. It’s what you and your spouse always dreamed of. House...

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