This is the financial shock of a major home repair. It is expensive and surprising.
There are two ways to run the analysis. One is quick and can be done on the back of a napkin. The other is more detailed, best done in a spreadsheet. In this part one, we will explain the quick math.
Talking about the question “How should you manage your money in 2018?” this show covers a lot of ground over 23 minutes of conversation.
Avoiding PMI, if possible, is better for your long-term finances. Here are three strategies to avoid PMI.
PMI does not provide you, the borrower, any protection.
There is a complex way, but we don’t recommend the strategy.
If you prefer to keep your down payment money invested in the markets for longer, there are two alternatives.
Most Americans have a home mortgage. The rich often have two.
This should not produce a hand-wringing vacillation between the two answers.
Although it is possible, buying a house without a credit history will require you to jump through some uncommon hoops to find a competitive rate.
Some say don’t make extra payments, take the tax deduction. Others say you need to be debt free.
David Marotta discusses interest rates, the housing market, and how these factors work together for the patient buyer.
Mortgage rates are at historical lows, so the next few years are the time to take advantage of them.
Although the lender almost always wins, a reverse mortgage does offer a Band-Aid solution to pending cash flow problems.
The party’s over for home owners who sought the lower initial payments of ARMs.