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Christy Rakoczy
Christy Rakoczy earned her undergraduate degree from the University of Rochester and her Juris Doctorate from UCLA School of Law. She is currently a full-time writer who writes both textbooks and web content related to personal finance and the law. She and her husband and two dogs split their time between Florida and Pennsylvania.

Should I Pay Off My Mortgage or Student Loans First?

By Christy Rakoczy

pay off debtsStudent loans and mortgage debt are often considered to be “good debt,” as they are forms of debt you take on in order to purchase something that should increase your net worth. “Bad debt,” on the other hand, includes credit card debt, auto loans, and other consumer debt incurred to make purchases that depreciate in value.

Regardless of the classification, debt needs to be paid off at some point. And if you have a little extra money every month, you may ask yourself: Should I accelerate payments on my mortgage or student loans? And, if so, which should I aim to pay off first?

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Construction Costs of Building a New House – Contracts & Fees

By Christy Rakoczy

costs of building a houseBefore my family began the process of having our home built, I learned that we should expect to go at least 10% to 20% percent over the estimated budget. While I didn’t believe it at the time, it is safe to say that I learned the truth that building a new home costs more than you think it will.

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What Is a Home Construction Loan – Process & How to Qualify

By Christy Rakoczy

home constructionBuilding your own house can be a wonderful and fun experience – but it can also be a long and expensive process. However, most people cannot afford to pay for the cost of home construction up front, and getting a mortgage can be tricky. After all, you’re asking a bank or a mortgage lender to give you money for something that doesn’t even exist yet.

A standard mortgage loan is not going to cut it – but you may be eligible for a special type of loan known as a construction loan.

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Should I Buy a House Now or Wait? – 6 Factors to Consider

By Christy Rakoczy

family buy houseOwning a home has long been considered to be part of the American Dream, but as the huge tidal wave of foreclosures has taught us in recent years, it can also be a major disaster if you buy a house you cannot afford – or if you buy a home before you are ready for home ownership.

Purchasing a home is a major investment, and as with any investment, it is important to be educated before you dive in. Once you have a basic understanding of what home ownership entails, you must carefully consider whether you are truly ready to buy.

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