If you have a major financial need looming over you that you’re just not sure how you’ll afford, you may want to consider taking out a second mortgage. Keep in mind, there are some pros and cons that come along with doing that, so let’s look at the options and you can decide whether this… Read more »
If you’re facing foreclosure, you’re not alone. According to RealtyTrac, 1 in every 3,426 homes in Michigan are being foreclosed in 2017. Muskegon is the worst county for foreclosures in the state, with every 1 in 1,063 homes being foreclosed. What should you do when you’re facing foreclosure? Communicate with your lender Your first instinct… Read more »
Mortgage interest rates have been slowly increasing since they plummeted following the 2008 financial crisis. Twice this year already, the Federal Reserve has raised interest rates, which, in turn, raises the rate at which banks loan out money for mortgages. But are they done raising rates this year, or could more hikes be on the… Read more »
You may be interested in rental property as a way to earn extra income, but how should you go about it? Where to buy? It’s an old but fitting adage that there are three rules in real estate: location, location, and location. The same is also true for renting out property. You need a good… Read more »
If you don’t have a lot of money and you’re in the market for a new house, you may be tempted to buy the cheapest home you find with the intention of fixing it up. However, just because a house is cheap doesn’t mean it’s a wise investment. Here are a few things to watch… Read more »
While it can be useful to listen to the advice from others who have gotten a mortgage, you might have heard some wrong information. Or, at the very least, dated information. Here are 5 rules that no longer are true for getting a mortgage: 1. You need a 20% down payment. I recently spoke to… Read more »
I know what you’re thinking: Why would I ever want to get an Adjustable Rate Mortgage? Isn’t it too risky? Sure, it could be. But there are actually some circumstances in which it might be the best option. Let’s look at the pros and cons of ARMs, and you can decide whether it’s too risky… Read more »
What’s the deal with 15 and 30-year mortgage loan rates? If you’ve ever shopped around for a new mortgage, you’ve seen lenders advertising rates for both. There are pros and cons to both, depending on what you want to do with the mortgage. But there’s also the unknown fact that “15 to 30” aren’t the… Read more »
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