How do you decide if a home equity loan is right for you? An honest look at your current debts and a talk with your mortgage lender may be able to help. Q: We’re thinking that we don’t want to move forward with a home equity loan we applied for. We’re pretty far along in [...]
Will buying a house hurt your credit? Research on how taking out a mortgage impacts your credit score is finally here to answer this age-old question. Your credit score will fall an average of 15 points over a period of four months after buying a house, according to consumer analysis by LendingTree. More specifically, your [...]
A recent report from the Harvard JCHS takes a look at the important differences in the housing market since the 1980s. Many staples of American life look different in the three decades since 1988, from big hair to the cost of college to the rising number of Americans burdened by housing costs. In a recent [...]
Millennial’s student loans have kept them from becoming homeowners because they can’t afford a down payment or tanked their credit defaulting on a loan. If you’re hoping your children will be able to buy a home of their own someday, you might want to keep an eye on how much money they’re taking out in [...]
When it comes to buying a home, Millennials are taking about 5 years longer to become homeowners. Here, I take a look at some factors that may be causing this shift in the average first-time homebuyer age. I live for a happy ending. Whether it’s in the movies, a fairy-tale wedding (hello, Harry and Meghan!), [...]
It doesn’t often happen that the lender declines to do a mortgage modification six times, and then out of the blue cancels the loan balance and releases the lien. In this case, the lender did just that, but the homeowner is still worried she might lose her mortgage. Q: I’ve been working with my bank [...]
My husband is going to take out a mortgage with my mother-in- law, put the house into a trust, name themselves as the trustees, and my husband and his siblings as the beneficiaries. Is taking out a mortgage with my mother-in- law a good idea? Q: My husband and I made on offer to my [...]
Need a credit card fast? If you choose that credit card wisely, it can reduce financial stress caused later by soaring APRs and a multitude of late fees. And remember: While credit cards and credit card debt can be a huge source of financial stress, particularly if you build up a significant balance, they can [...]
With tax season upon us, many people may be looking forward to their refund as a way to pay down existing debts. However, certain existing debts could prevent you from seeing a refund at all. Collections agencies to which you owe debts like a credit card balance or mortgage cannot intercept your refund, although they [...]
It’s a fresh, clean new year. We indulged ourselves last month and ended the year with a blast. Now, it’s time to come back down to earth and face financial reality. Luckily, I have some tax tips you might find helpful as you try to stick to your financial goals and resolutions. 2012 brings us [...]
