A Homebuyer’s Guide to Escrow

Mortgages

A Homebuyer’s Guide to Escrow

A Homebuyer’s Guide to Escrow

Buying a home is likely one of the biggest financial decisions you will make in your life. And it comes with a lot of terms you may not encounter in your everyday life. One of these terms you’ll hear thrown around is “escrow.” But in case you aren’t exactly sure what escrow means or how it… Read More

10 States With the Highest Foreclosure Rates

Mortgages

10 States With the Highest Foreclosure Rates

10 States With the Highest Foreclosure Rates

Foreclosure activity in the U.S. declined 9.39% from February 2014 to February 2015, with one in every 1,295 housing units in some stage of foreclosure last month. That’s the lowest the national foreclosure rate has been since July 2006, according to RealtyTrac’s monthly report on the foreclosure market. The analysis looks at how many homes… Read More

What Makes a Home Affordable?

Mortgages

What Makes a Home Affordable?

What Makes a Home Affordable?

Deciding where to live can be hard. You are probably thinking about proximity to work, to family, friends or significant others, as well as food options, climate, travel accessibility, crime rate, education, culture and of course — affordability. We all know that living within our means is important to maintaining good financial health, but figuring how… Read More

How I Got Out of $63,000 of Credit Card Debt

Managing Debt

How I Got Out of $63,000 of Credit Card Debt

How I Got Out of $63,000 of Credit Card Debt

Sleepless nights.  A knot in the pit of the stomach. A gnawing sense of unease. Charles Phelan was familiar with the physical and emotional toll of debt. But usually it was his clients who were experiencing those symptoms. This time, it was his turn. He owed more than $50,000 in credit card debt and knew… Read More

Buying a Home? Be Ready for These Closing Costs

Mortgages

Buying a Home? Be Ready for These Closing Costs

Buying a Home? Be Ready for These Closing Costs

For most of us, there’s no bigger purchase than buying a home. And with big purchases, even minor fees can carry a big price tag. Before signing the paperwork and taking on a mortgage, it’s a good idea to get educated about the process. Many people either don’t know or forget to factor in the… Read More

4 Reasons You Could Be Denied a Mortgage

Mortgages

4 Reasons You Could Be Denied a Mortgage

4 Reasons You Could Be Denied a Mortgage

So, you’ve thought about whether renting or buying your next home is the right decision for you. If you decide to buy a home, you’ll likely have to prepare for financing your purchase with mortgage payments. Here’s where things can get a bit tricky. While getting a hold of the costs involved with home buying can… Read More

The Tax Deduction That Could Kill Your Homebuying Chances

Mortgages

The Tax Deduction That Could Kill Your Homebuying Chances

The Tax Deduction That Could Kill Your Homebuying Chances

If you’re planning on getting a mortgage, you may want to rethink taking any extra deductions to minimize your tax liability this year. Writing off expenses you incur as a W-2 employee can have lasting negative repercussions on your real income, an anchor component of how lenders determine your creditworthiness. Job-Related Deductions You bring a mortgage company your W-2s and… Read More

Could Paying Off Your Mortgage Hurt Your Credit?

Credit Score

Could Paying Off Your Mortgage Hurt Your Credit?

Could Paying Off Your Mortgage Hurt Your Credit?

For many people, paying off their mortgage is the ultimate financial accomplishment. While “mortgage burning celebrations” may not be common now that everything is handled digitally, most do feel proud of a home that is paid for in full. Imagine, then, the disappointment to learn that your credit scores have gone down, not up, as… Read More

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