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Mortgage Repayment: Questions About Weird Tricks For Paying Down the Balance Faster (Fourth of a Series)
A: A number of schemes (e.g., Mortgage Relief System, Tardus, Money Merge Account) focus on exploiting the difference between
The other benefit of a secured loan is that your loan value can be greater than an unsecured loan. If you're shopping for
Homeowners sell their homes and buy other homes for a variety of reasons including a need to live closer to a place of employment, to be closer to family, to enjoy a better climate, or simply to upgrade. This article is about finding the best sequence of steps in the process.
For retirees, the well-known phrase, "cash is king," takes on a special meaning. Without a regular paycheck, creating your own cash flow is up to you. And how well you handle that cash can mean the difference between a financially comfortable or stressful retirement.
Your loans were made at the height of the housing bubble, and looked like a great deal at the time. By using a HELOC as a "piggyback" second mortgage, you were not required to make a down payment or to purchase mortgage insurance.
For those considering a reverse mortgage, there's a lot going on in the industry right now that could affect whether many older Americans consider one or even be able to take one out.
Whatever the reasons for the move, many face the same challenge: how to use the equity in their existing house to purchase the new one before completing the sale of the old one. Selling the old one first avoids this problem but requires two moves, which is a major expense and a hassle.
There is no right answer in choosing any of these scenarios. Your Realtor may be able to advise which is best, depending on the local market. However, much depends on your financial stability, as well as your tolerance for risk or disruption.