Tips & Advice

Advice for Retirees When Downsizing: Part 3 of 5

We’ve all heard it a million times: Location, location, location. The old adage is just as important when downsizing upon retirement as it when buying for the first time. In addition to understanding how your taxes and other expenses will be affected by your new locale, it’s also a good idea to keep your healthcare options in mind. ... More

Advice for Retirees When Downsizing: Part 2 of 5

When downsizing, you may be lucky enough to walk away with some extra cash at closing. To make the most of that money, the best thing to do is invest some - if not all - of it right away, before it's suddenly gone. “People have a tendency to look at that as found money” and spend it too quickly, explained Larry Luxenberg, managing ... More

Advice for Retirees When Downsizing: Part 1 of 5

The first thing to keep in mind when considering downsizing is that you should be careful not to wait too long. The longer you wait to downsize, the more time you spend paying your higher incoming taxes, utility bills and other unnecessary expenses. "You don’t necessarily need to wait until the last [child] gets out of college to pull ... More

Researching Utilities Is Essential in Determining Home Buying Budget

The importance of factoring in taxes and insurance costs when considering a home buying budget is well known, but Bank of America reminds us of another pesky monthly expenditure to keep in mind. “If you're moving into a larger home than you're used to, a home that is newer or older than you're used to, or located in a climate that's ... More

One Important Thing to Consider Before Taking Out a Home Equity Loan

There are several things to think about before taking out a home equity loan, but among the most important is to consider is what the loan will be used for. “The best reason to take out a home equity loan is when it has some positive impact on your finances,” CNN Money’s Les Christie advises. “Using it to pay for a renovation that ... More

Financial Advisors Warn Against Reverse Mortgages

Reverse mortgages can make a lot of sense for many people. They allow homeowners to borrow money against the value of their homes, and the funds don’t need to be repaid until the individuals move. Financial advisors, however, continue to warn against this option, noting that it often “traps” homeowners into losing out on equity once ... More

Experts: Lock Now, As Mortgage Rates Back Down

Mortgage rates are back in line with recent lows and averaging out at 4.125%, Mortgage News Daily is reporting. Experts advise locking in on a rate now. “I'm cautiously optimistic that we are about to break back into the long term trend of lower rates, but remain right on the edge,” says Brent Borcherding. “The safest decision is to ... More

Your Next Home: A Shipping Container?

With the right frame of mind, a steel shipping container may make for the perfect affordable, eco-friendly home. There are lots of these vessels sitting around, otherwise useless, in shipping yards all around the country. So why not convert them into livable dwellings? According to CNN Money, a two-story shipping container home - complete ... More

Mortgage Calculators Help Determine Home Affordability

When beginning the home buying process, it may be a smart idea to check out one of the many mortgage calculators on the Web. These free calculators take home price, down payment, interest rate, taxes and more into consideration and help you figure out just how much home you can really afford. A quick internet search for "mortgage calcul... More

Experts Warn: Don’t Try to Time the Market

When purchasing a home, it may be very tempting to try to either delay or rush the process in order to secure the best interest rate. But experts warn against both of these strategies. If you wait too long, a house you have your eye on may get snatched up before you can put in a bid. And if you rush into the process just because interest ... More