A mortgage refinance is when a homeowner takes out a second loan with the intention of paying off the original loan used to buy the property. This is usually done with the intention of lowering the APR on the loan-often with an increase in the length of payment (maturity)-or to liquidate some of the equity that has accrued on the property.
Car insurance will provide you with the means to survive financially after an accident. You certainly would not want to pay for the damage to your car, and possibly the other person’s, out of your own pocket. Indeed, car insurance may be the only thing stopping you from going into debt after car collision.
A home budget lets you truly know whether you can afford a purchase. There’s a lot of temptation to charge unneeded purchases on credit cards even when you can’t afford them. But a home budget will help you keep your perspective in check.
A 529 plan is a program geared towards funding a college education. One of the benefits of a 529 plan is the tax break. For example, all of the money put into a 529 plan is federal and state income tax free.
If you’re buying a home, you will need a mortgage lender for your home loan. The home mortgage business is very lucrative, but it’s also saturated. Therefore, mortgage lenders use many incentives in order to get your business. Find out how to research and choose the best mortgage lender for your home loan.
The looming possibility of foreclosure can be a nightmare come true for homeowners. It usually happens after a job has been lost for an extended period of time, or after a family has become financially over-extended from hospital bills or careless spending. Fortunately, there are many ways for homeowners to avoid foreclosure.
People open a Home Equity Line of Credit for many reasons. Some households are interested in remodeling, or adding on to their home. Other households open a Home Equity Line of Credit, because they want a financial safety-net. While others open a HELOC, because they need quick access to liquid assets.
Most credit card companies require a minimum monthly payment of 2%. That’s what they feel earns them the most money. Remember that their goal is to keep you in debt for your entire life.