Making Sense of the new Tax Credit Extension
Homebuyer Tax Credit Extension Okay, I think I get it now and I’m ready to give you the scoop on the new tax credit extension. I know this news has been circulating around for awhile now, with many industry professionals trying to be the first to tell you the new rules, but up until now – I still had questions that I couldn’t find answers to and much of the information I was getting didn’t ...Variable Rate vs. Fixed Rate
Choosing a Variable Rate is like Ordering a Pizza “Should I pick an adjustable rate mortgage, like a 3/1 or 5/1 ARM, or go with a 30 year Fixed Rate?” How many times has a buyer or borrower asked you that question? How do you help them choose in a way that makes sense to them? I’ve found that “Pizza” is the best illustration to use to help them understand this question. If I give this ...Free IRS Money for Home Buyers
Great news for First Time Homebuyers! The massive economic stimulus bill that was just signed into law has a great incentive in it for First Time Homebuyers. If you buy your first home between Jan 1, 2009 and Nov 30, 2009 (and “First Time” means “Haven’t had any ownership in a home for the past 3 years”), you ...Does Your Home Have A Story To Tell?
I am often asked by my real estate partners to assist them in marketing their listings. They know I like to write and tell stories and that history is a passion of mine, so when they land a listing for maybe an older home in a community or a home being sold by a long time member of the community, they come to me for help in telling the story. The stories I write, with maybe ...Two Long-Term Bucket Vehicles to Start With
There are two types of vehicles that you should be able to use right away to fill your Long-Term Bucket. 1) An Automatic 401K, 403B, or IRA account. 2) Your Mortgage Payment. First, the 401K or 403B account – if available to you – are the best way to get started with your Long-Term Bucket. Begin immediately putting 3% of your income into this account each payday. It’ll come out of your pay without you ever seeing it ...How To Get $500 In The Bank – FAST!
In the last article, “Get $500 In The Bank Now”, I told you to write yourself a $100 check without cashing it (hanging it on the wall someplace you can see it everyday for motivation) to create a little cushion in your checking account to prevent bounced checks (and hefty bouncing fees). This is the first step towards getting $500 in the bank and keeping it there. I also told you, in a kind of ...Get $500 In The Bank Now!
You’re trying to get in position to buy a home. You may have huge outstanding debts or serious credit blemishes on your record. Maybe collectors are calling you and you’re afraid to answer the phone, and it seems every time you get a paycheck your immediate bills already add up to MORE than your take home pay. If this sounds like you, or maybe your situation isn’t nearly this severe but things are still ...Reserve Requirements for Mortgages
Here’s a fancy mortgage loan term that you need to have an understanding of as you move towards buying a home and getting your financing approved. “Reserve Requirements” – something that wasn’t necessary for quite awhile, but, guess what, They’re Baaack! During the past several years during the big subprime-Stated Income-easy credit frenzy, the idea of “Reserve Requirements” pretty much went away. But now they are coming back and many loans today absolute ...What Type of Mortgage Should I Get?
As you are searching for your home or taking care of your financial situation, let’s discuss what type of mortgage you should get once you’re ready. Rule #1: If you can’t afford a standard 30 year mortgage, you shouldn’t buy the home. Let me put that more snottily: If you want to live in a $300,000 house, you should be able to afford a standard $300,000 house payment. Many of my readers have had financial ...Latest Articles
Should You Pay Off Your Mortgage Early?
I often find myself in long conversations with my borrowers over the best way to pay off mortgages early. Do I recommend the “Bi-Weekly Payment” ...
Making Sense of the new Tax Credit Extension
Homebuyer Tax Credit Extension
Okay, I think I get it now and I’m ready to give you the scoop on the new tax credit extension. ...
Variable Rate vs. Fixed Rate
Choosing a Variable Rate is like Ordering a Pizza
“Should I pick an adjustable rate mortgage, like a 3/1 or 5/1 ARM, or go with ...
Washington Women Veterans Summit 2009
"Top 10 Ways to Get Out of Debt and Build Wealth" is the title of my workshop at the Women Veterans Summit this year. I’m ...
Know your Statutes of Limitations
“Can you just make a small payment as a show of good faith?” Have you been called by a collection agency trying to collect on ...