Archive for the ‘mortgage’ Category:

What Is a Piggyback 80-10-10 Mortgage – Pros & Cons

{ Posted on Oct 18 2011 by Kira Botkin }
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Categories : All, EDITHM, Money Crashers, mortgage, OPTQ, Real Estate, Uncategorized
A piggyback mortgage is exactly what it sounds like – one mortgage on top of another. This set of two mortgages was commonly used prior to the mortgage crisis to avoid paying private mortgage insurance (PMI), when homebuyers didn’t have a ...Read More »

What Is an Adjustable Rate Mortgage (ARM) – Definition, Pros & Cons

{ Posted on Oct 12 2011 by Kira Botkin }
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Categories : All, EDITHM, Money Crashers, mortgage, OPTQ, Real Estate, Spending and Saving, Uncategorized
When shopping for a mortgage, you have a variety of options. Mortgages can be structured differently and many factors are negotiable, such as the interest rate, closing costs, the loan’s length, a pre-payment penalty, and a balloon payment, to name ...Read More »

What Is a Reverse Mortgage (HECM) – How It Works, Pro & Cons

{ Posted on Oct 11 2011 by Kira Botkin }
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Categories : All, EDITHM, Family & Home, Home Improvement, Money Crashers, mortgage, OPTQ, Real Estate, Uncategorized
Paying off your mortgage is a worthy goal and living in a home you own outright provides valuable security. But for many, tapping the equity in their homes is a necessity, especially during retirement. Because of this, an unusual type ...Read More »

What Is a Reverse Mortgage (HECM) – How It Works, Pro & Cons

{ Posted on Oct 11 2011 by Kira Botkin }
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Categories : All, EDITHM, Family & Home, Home Improvement, Money Crashers, mortgage, OPTQ, Real Estate, Uncategorized
Paying off your mortgage is a worthy goal and living in a home you own outright provides valuable security. But for many, tapping the equity in their homes is a necessity, especially during retirement. Because of this, an unusual type ...Read More »

What Is a Reverse Mortgage (HECM) – How It Works, Pro & Cons

{ Posted on Oct 11 2011 by Kira Botkin }
No Comments
Tags : , , , , , ,
Categories : All, EDITHM, Family & Home, Home Improvement, Money Crashers, mortgage, OPTQ, Real Estate, Uncategorized
Paying off your mortgage is a worthy goal and living in a home you own outright provides valuable security. But for many, tapping the equity in their homes is a necessity, especially during retirement. Because of this, an unusual type ...Read More »

What Is a Reverse Mortgage (HECM) – How It Works, Pro & Cons

{ Posted on Oct 11 2011 by Kira Botkin }
No Comments
Tags : , , , , , ,
Categories : All, EDITHM, Family & Home, Home Improvement, Money Crashers, mortgage, OPTQ, Real Estate, Uncategorized
Paying off your mortgage is a worthy goal and living in a home you own outright provides valuable security. But for many, tapping the equity in their homes is a necessity, especially during retirement. Because of this, an unusual type ...Read More »

What Is a Balloon Payment Mortgage?

{ Posted on Sep 15 2011 by Kira Botkin }
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Categories : All, Credit and Debt, EDITHM, Money Crashers, mortgage, OPTQ, Real Estate, Uncategorized
Mortgages come in many different varieties and if your situation is unusual, you may be best served by an unusual type of mortgage. One of these lesser-used mortgage types is known as a balloon mortgage, also referred to as a ...Read More »

Should I Save for a Down Payment on a House or Pay Off Debt?

{ Posted on Sep 02 2011 by Kira Botkin }
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Categories : All, Credit and Debt, EDITHM, Money Crashers, Money Management, mortgage, OPTQ, Real Estate, Spending and Saving, Uncategorized
When you’re preparing to buy a home, it’s important to get your finances in order. Not only will you have to be organized to fill out the loan application, but you want to otherwise streamline your finances to improve your ...Read More »

Beware of the Mortgage Prepayment Penalty

{ Posted on Aug 30 2011 by Kira Botkin }
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Categories : All, EDITHM, Money Crashers, mortgage, OPTQ, Real Estate, Uncategorized
Applying for a mortgage can be tricky. There are many things to consider, including something known as a prepayment penalty. A loan with a prepayment penalty may also come with a lower rate and so can seem more attractive. However, ...Read More »

How to Withdraw from Your 401k or IRA for the Down Payment on a House

{ Posted on Jun 06 2011 by Kira Botkin }
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Categories : All, EDITHM, Investing, Money Crashers, mortgage, OPTQ, Real Estate, Retirement, Uncategorized
Buying a home can be a big step towards securing your financial future, but saving for the down payment can be very time-consuming. However, if you already have money in your retirement accounts, you might be able to use it to speed ...Read More »
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