You’d be surprised how easy it is to save $20 a week when you make a few small changes to what you consume. Here are four tweaks you can make to your eating and drinking habits which can net you extra cash you need to pay your mortgage off more quickly!
Having an emergency fund is one way to help yourself feel and be more financially secure, especially if you’re a homeowner. So how big should that emergency fund be?
Very, very interesting article from Reuters about a unique way to pay your mortgage. Turn your house into a gian advertisement. Seems crazy? I don’t know. Seems pretty cool to me, actually.
Today, we discuss 15-year mortgages vs. 30-year mortgages, what to do if you miss a payment and how much income you should put aside for mortgage payments. Check it out!
Transferring your mortgage to another lender is common within the industry. At Quicken Loans, we’ll inform you who your new servicer is, where it’s located, and where your payments should be made.
A recent study shows that 53% of Americans have concerns about their mortgage payment. We provide some quick tips on how to manage and save money on your monthly mortgage payment.
In our weekly video blog, Jen Horvat clears up the confusion surrounding reverse mortgages.
If you have extra money, do you typically put that towards an extra mortgage payment that month? Or do you invest it? Which option will save you more money in the end?
For many homeowners, foreclosure is viewed as a way out from their mortgage payment. With unemployment at an all time high, and many property values still down, making payments on a loan can be difficult for many people. However, contrary to a popular belief that a foreclosure can be a fresh start – foreclosures actually affect credit scores negatively, and cause higher interest rates for future loans.
Theoretically speaking, rent is usually the cheaper option. Home mortgages are thought of as investments whereas renting an apartment is generally a temporary choice. However some may even say renting is a better financial choice than buying. The logic behind this idea is that mortgage payments are almost always more than rent, and beyond that you still have to pay for home insurance, closing costs, interest on the loan, maintenance and upkeep, etc. All of which far exceeds the average rent of say $600 a month. You can then take the money you saved by renting, and invest it into more profitable areas. The Often Ignored Benefit of Home Mortgages The problem with this theory is that while you save money now, you will always have the rent payment. Homeowners on the other hand, eventually have no mortgage payments. This is obvious. But what’s less obvious for many of us are the inflation costs. Keeping in mind most home loans are for 30 years, an apartment that’s $600 today will be over $850 in ten years with 4% inflation, making it close to the cost of a home loan. If we look at the cost to rent in 20 years, that $600 apartment is now costing more than $1,300 a month. Greatly exceeding many mortgage payments. In 30 years, the mortgage payments are over while the renter is now paying close to two grand for that same apartment. So while renters save money initially, and never have to pay interest…