Monthly Archives: February 2009
Pay Off Mortgage Quickly With Bi-weekly Prepayment
You can pay off mortgage quickly by arranging bi-weekly payments. This allows you to prepay your mortgage and pay it off sooner. Prepaying your home loan not only allows you to pay off your mortgage more quickly, it allows you to save money.
Investing in Roth IRA For Child
Is an index fund the best way to invest in a Roth IRA for a teenager? Ilyce says index funds are easy investments to maintain within a Roth IRA. But in order for a teenager to have a Roth IRA, he must have a job so he can invest his earnings, because the retirement account takes after-tax dollars.
Roth IRA or Traditional IRA?
If you already have a 401(k) and want to get another retirement account, should you invest in a Roth IRA or a traditional IRA. Ilyce explains the difference between the Roth IRA, a traditional IRA and other retirement accounts. One of the main differences between a Roth IRA, traditional IRA and other retirement accounts is that Roth IRA’s deal with after tax dollars as opposed to pre-tax dollars.
Escrow Account: Handle Yourself Or Through Mortgage Company?
Is it better to handle escrow accounts yourself, or let your mortgage company handle escrow. Ilyce prefers to handle escrow herself rather than through her mortgage company. This way, the money in the escrow account earns interest and you know for sure you real estate tax bill will be paid on time.
Real Estate Investment Courses: Scam Or Real Deal
Are real estate investment courses are a scam or the real deal – specifically Carleton Sheets’ methods. Ilyce says she’s read Sheets’ real estate investment book, but finds others easier to read. Ilyce recommends other books on real estate investment to the reader that she feels are better.
Seller Disclosure: Buyer’s New Home Has Broken Furnace
What is required under seller disclosure? A few months after buying a home, the new homeowners realize they need a new furnace. but seller disclosure didn’t indicate that there was anything wrong with the furnace. Ilyce asks if the homeowners had a home inspection prior to closing, and takes them through whether they have a case under seller disclosure – or lack thereof.
Seller Disclosure: Noisy Neighbor?
Does seller disclosure include telling your real estate agent about a noisy neighbor? Ilyce explains with seller disclosure, if you are asked about neighbors, you should answer honestly. But, seller disclosure does not mean that you have to voluntarily tell a buyer or real estate agent about the piano practice.
Refinance Mortgage Without Full-time Job
Can you refinance your mortgage after losing your job? Ilyce explains that without a regular source of income, like a full-time job, you will have a difficult time refinancing your existing loan or even getting a home equity loan or line of credit.
Homeowner’s Mortgage Lender May Be Predatory Lender
How do you know if your mortgage company is a predatory lender. A predatory lender often does not take your account out of arrears even if you pay your late payments plus interest to bring your account current. Call your attorney general’s office and refinance the mortgage with another lender if you can.
Selling Home Includes Title Company’s Transfer Taxes
What are the seller charges that are listed on the statement you receive from the title company after selling a home home. Ilyce explains that every state has taxes called transfer stamps that the seller must buy so the title company can put them on the deed before the home sale is final. The transfer taxes are public record, so you can check with the title company to see if you have been charged correctly.
