Buying a House Archive
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5 Rules for Buying a House (And How to Bend Them)
Buying a house is a huge financial decision with far-reaching implications. Even so, I think the financial advice rules to determine if you're ready to make the leap to homeownership are pretty straightforward: Have an emergency fund in place (three to six months' worth of expenses is ideal). Create and follow a budget (based on post-purchase expenses). Save up a big down payment (20% is ideal). Have confidence in your j... more
5 Red Flags of Next Mortgage Crisis
What will the next mortgage meltdown look like? For years, some financial analysts have worried that the 2008 financial crisis wasn’t unique. Rather, what if the mortgage crash merely exposed a beehive of fundamental problems in our economy that still exist today? Here are some of the competing theories about how these lingering problems might coalesce to form the next big mortgage disaster. Red Flag 1: Double Dip The real estate market hasn... more
4 Ways Uncle Sam Can Help Buy You a Home Now
Military.com
Leslie Erin Johnson saved steadily to buy her first home, making many sacrifices along the way. For example, when she got married in March, she and her new husband kept the wedding small to save toward a down payment. There was no honeymoon, either. Thanks to their financial discipline, the couple recently closed on a three-bedroom, two-and-a half bath house in Cary, N.C. They're being rewarded by Uncle Sam in the process with an $8,000 tax c... more
11 Tips for Selling Your Home on Your Own
House prices continue to remain fragile -- a fact that's painfully clear to homeowners who are trying to sell. Despite the challenging housing market, many owners are choosing to sell their home on their own, without the help of a licensed real estate agent. For sale by owner, also known as FSBO, can yield significant savings in real estate brokerage fees, which typically represent a percentage of the home's final sale price. Are you up for... more
10 Mistakes New Homebuyers Make
With mortgage rates continually hitting new lows and many real estate forecasters predicting a housing bottom at the end of the year, many renters are getting the urge to buy. That leaves a housing market full of inexperienced, but interested buyers who need a little more help and guidance in navigating what will be for some the biggest purchase they ever make. “There are two separate transactions happening here -- one to purchase a house, a... more
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Paycheck Chronicles
From The Mailbag: VA Disability and Retirement
I regularly receiving letters from family members who are worried about their current or former servicemember. The military is confusing enough if you are in it, and it is more confusing for people who don’t have experience. Today’s letter is fairly typical: Perhaps you can help me. My son spent 6 years in the military [...]
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