Imagine having an emergency in your home and needing to find something that will solve the problem.  You need to be able to put your hands on it quickly.  A fire extinguisher hung in a conspicuous place, easy to reach, is a prudent precaution.  Everyone in the house should know where it is and how […]

Approximately 52 million or 16% of Americans are age 65 and over.  It is easy to understand that some of them are thinking of downsizing their home because they don’t need the same space they did in the past. It can be liberating to divest yourself of “things” that have been accumulated over the years […]

Deciding between a fixed-rate mortgage and an adjustable-rate is one of the choices buyers make when getting a loan to purchase a home.  While the rate remains constant for the term of the mortgage on a fixed-rate loan, it does not mean that the payment will remain the same. Most lenders require borrowers to include […]

The trend in homeowners successfully selling their own home has declined from 15% in 1981 to only 8% in 2019.  In the 2019 Profile of Home Buyers and Sellers, six out of ten sellers knew the buyers who were predominantly a friend, relative or a neighbor.  The fact that these sellers knew the buyer was […]

Equity in a home is the difference between what the home is worth and what is owed on the home.  As the property goes up in value, the unpaid balance is going down with each payment being made.  These dynamics are working in different directions to make the equity grow. Leverage, the use of borrowed […]

Borrowing from a 401k, 403b or the cash value of life insurance policy is a common financial strategy.  While taxpayers are not allowed borrow from either a traditional or Roth IRA, they can withdraw funds before age 59 ½ for specific purposes like a first home purchase, qualified higher education expenses or permanent disability without […]