We all want a roof over our heads. But what if something happens to the roof over your head, and you need to pay for a roof replacement? Roof replacements can get pricey. In 2022, U.S. homeowners spent between $5,619 and $11,949 putting new roofs on their homes. And the cost of replacing a roof
If you’re shopping for a home loan, you’re probably familiar with the concept of mortgage rates. You probably also know that even a small change to that number can change the amount you pay in interest over the life of a loan by tens of thousands of dollars. But you may not have heard of
Real estate transactions are often chock full of complex terms, complex jargon and complex concepts. Even a question as simple as whether you or not you own your home after closing can result in a not-so-simple answer. (Hint: It depends on which state you live in.) The answer to the question of ownership may rest
Buying a car can be costly. It’s no wonder a lot of people purchase a car with an auto loan. Between your car loan payment, car insurance, gas prices (and the occasional snack), your monthly costs to travel from point A to B can add up fast. If your debt has you feeling like you’re
The day you’ve been dreading as a car owner has finally arrived. Maybe your car made a weird noise, a rock hit your windshield or you walked out of a store only to discover a flat tire. A peculiar noise, a cracked windshield or an unwelcome flat can be more than a personal inconvenience, it
As a homeowner, you don’t plan on having to deal with foreclosure – and hopefully, you won’t ever have to. You can help prevent foreclosure by making your payments on time and communicating with your lender, but sometimes life hits unexpectedly hard, making it difficult or impossible to pay your mortgage. A single late payment
If you’re like most people, you may not fully understand the purpose of an impound account. In short, an “impound account,” also known as an “escrow account,” is a way for your lender to ensure your property taxes and homeowners insurance are paid on time. The lender is responsible for managing the account, but it’s
Even after a homeowner (or land owner) has paid off their mortgage, that doesn’t mean the property will be theirs forever. An owner could lose their property if it’s condemned. The condemnation of a property often results in the transfer of a property from a private owner to another entity, such as the government. There
Maybe you’re a devotee of the #RemoteWorkLife or have been inspired by perfectly curated #VanLife videos. Maybe you’re ready to fulfill your dream of a cross-country road trip with your “hotel” traveling with you from town to town. Whichever hashtag (or fantasy) is motivating you, you’re ready to experience the freedom of the outdoors on
Riding a personal watercraft (PWC), like a Jet Ski or a Sea-Doo, is exhilarating for water sports lovers. And because some models are roomy enough to accommodate up to three passengers, a small family or friend group can ride the waves all summer long. A Jet Ski or Sea-Doo can be expensive, but owning one
If you spend any time around homeowners, you’ll probably hear at least one of them talk about making an extra mortgage (or principal) payment to pay off their mortgage faster. This process is sometimes called mortgage curtailment or a principal reduction (although most people don’t use that term in casual conversation). It’s a common strategy,
Whether you’re looking to buy a house, rent an apartment or invest in commercial property, the best way to peruse the market is through a real estate app. Thanks to technology, house hunting is now literally at your fingertips, and it’s easier than ever to buy a house online. All that’s standing between you and
Let’s talk credit! Credit is money you borrow and must repay. Depending on the type of credit account it is, you can use it for different purposes, like buying a boat, funding a wedding or buying an investment property. There are two main types of credit available to borrowers – closed-end credit and open-end credit.
If you’re a homeowner, you’re probably wondering if there’s a way to get a better deal on your mortgage. After a couple of years of homeownership, you may have better credit and more income than you did when you first bought your home. So why not get a better mortgage than the one you started
If you’re wondering how the government and other people will know your house is actually yours, then you’ll want to understand how deeds work. There are several types of deeds, but the ones you’ll want to seek out are known as warranty deeds because they can help protect you and your rights as a homeowner.
The mortgage interest deduction is a popular tax break that allows homeowners to write off the home loan interest they pay each year. But what about considering the deduction for a second home? What qualifies for the mortgage interest deduction? And more importantly, can you deduct mortgage interest on a second home? The short answer
Being a co-signer on an auto loan (or any loan, for that matter) is a big decision. It’s a service that can feel very rewarding, which is why co-signers are typically trusted friends or family. But it also comes with financial risk. If the principal borrower experiences money troubles – a job loss, a drop
Chain of title is the history of ownership of any real property. Each time a property is sold or transferred from one owner to the next, the title, or ownership, of that property is transferred. The record of all those transfers establishes a chain of title. The concept of chain of title is also used
Currently, the U.S. Department of Education has paused student loan payments until August 31, 2022.[1] But, once payments restart, paying school loans may impact your ability to save for a house, build emergency funds or travel. Is there a way to have your school loans forgiven? There are steps you can take toward student loans
Homeownership is usually a lifelong journey. For many people, sizing up happens over time as families and budgets grow. If you’re thinking about moving from your current home into a bigger home, we’ll help you determine whether it makes sense and what factors you should consider along the way. What Are the Signs You Are
Are you considering buying a home with someone else? If so, you’re going to want to know about joint mortgages. A joint mortgage is when two or more people borrow money from a lender to purchase a home. This article will explain everything you need to know about joint mortgages. We’ll cover how they work,
Imagine, if you will, a pickle barrel at a grocery store. It’s filled with pickles you can take out, put in a bag and pay for. Of course, you only pay for the pickles you take out. And once you eat the pickles you bought, you can buy more pickles – again and again –
Mortgages can last for 10, 15 or 30 years. Naturally, this creates ongoing responsibilities for both the borrower and the lender. If a mortgage is active, it will need to be continually serviced, and the process often contains a lot of moving parts. While one mortgage lender will want to manage your mortgage loan for
In the U.S., most people own their home for about 13 years, after which they hope to sell the property for a profit.[2] Naturally, you’re probably curious about home appreciation and how much it affects the value of your home today and in the future. Understanding home appreciation is important because it can give you
If you thought buying your first home felt like one of the biggest financial moves of your life, you may have even more to think about if you buy a second home. In particular, you may be wondering: What are the fundamental differences between second homes and primary residences? Why can’t they both be primary
You’re ready to add a deck to your home. Maybe you want a place to relax, a place to party, a play for the kids to play or you simply want to add value to your home. You’ve done your homework. You figured out how much it will cost to build your deck, considered design
When it comes to owning a home, some surprises aren’t as welcome as others. If you just found out that your outstanding mortgage balance is more than your home is worth, you have what’s known as an underwater mortgage, also known as an upside-down mortgage. If you have an upside-down mortgage, don’t panic. You have
If you’ve never been to a closing, it pretty much looks like this: You sign a bunch of paperwork, pay your closing costs and get a mortgage. Then the moment you’ve been hotly anticipating arrives, and you finally get the keys to your new home from your real estate agent. Once you’ve cemented your status
You’ve probably seen advertisements promoting 0% APR (annual percentage rate) credit cards or adjustable-rate mortgages (ARMs) with interest rates well below the going rates. These are two examples of teaser rates. A teaser rate (or introductory rate) is a low, temporary credit card or loan interest rate companies use to market their financial products to
The internet has given us countless innovations over the last several years. And these days, you can buy just about anything online, including your next home. With an eMortgage (also known as an electronic mortgage), borrowers can potentially move through the entire home buying process, including closing, without ever getting off their couch. Given the
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