Real Estate
12 articles
You have several options to pull equity from your home, the two most common being home equity loans (second mortgages) and home equity lines of credit (HELOCs). Like any other debt, each of these come with their own risks and advantages. Here’s what you need to know about home equity loans and HELOCs before signing on the dotted line for additional debt.
According to a 2018 study by the Pew Charitable Trusts, 38% of all American renter households put more than three-tenths of pretax income toward rent in 2015, qualifying as “rent burdened” – up from 19% in 2001. Some 17% of renter households put more than one-half of pretax income toward rent in 2015, qualifying as
As a real estate investor and real estate entrepreneur, I’m a great believer in direct real estate ownership. But it’s not for everyone. It’s hard to buy an investment property if you have less than $1,000 to invest, for example. Even if you’re approved for a low-down-payment mortgage, you still need to pull together thousands
The first homeowner in my collegiate social circle bought a barely habitable two-story Craftsman on the wrong side of the tracks. With his parents cosigning the loan and an army of friends helping him fix the place up, he turned it around in a matter of weeks and rented out three of the four bedrooms to
If you’re thinking of buying a condo, there are lots of reasons why it might be a smart move right now. Condos have never been more popular, particularly with the aging Baby Boomer population, which is starting to downsize and move into homes that are easier to care for. As a result, condos are in
How’s your appetite for a major home improvement project? What if that project could build equity, significantly boost your property’s value, and generate income? Most home improvement initiatives can’t do that. In fact, the list of home improvement projects that decrease resale value and drain homeowners’ personal savings is far too long. Accessory dwelling unit
The Johnsons were terrified of losing their home. Mrs. Johnson had recently lost her job, and they just couldn’t meet their mortgage payments on one income. When they saw the flier promising to save their home from foreclosure with “Guaranteed Results,” it seemed like a godsend. The company promised that, for a fee, it could
In 2017, more than 676,500 American homes went into foreclosure, according to Attom Data Solutions. That’s roughly 1 out of every 200 homes in the country. This is better than the peak rate in 2010 when more than 2 out of every 100 homes were in foreclosure, but it still represents hundreds of thousands of people being
If you’re ready to buy a house, congratulations. You’re one step closer to making what’s likely to be the largest single purchase of your life – at least until your family grows larger and you’re forced to upsize to a more spacious abode. Whether you’re buying a new construction home or an old fixer-upper house, chances
Suppose you’re a homeowner with a hideous master bathroom. You’d like to remodel, but you don’t see how you can afford it. According to HomeAdvisor, the average cost for that job is around $9,400, and there’s no way you can squeeze that amount out of your budget right now. Then, one day, you get a letter from your bank or a
House hunting is a bit like dating. Sometimes, you fall for the wrong person – or the wrong house. It’s not at all unusual to fall head over heels in love with a house that’s way out of your budget. You feel like you just have to have it, so you pull every string you can to get approved for a bigger mortgage. But
Once you’ve determined to buy a house rather than rent, you need to get approved for a mortgage. Then you need to go through a multi-week underwriting process that climaxes on closing day – the day your dream home officially becomes your home. The magnitude of the home buying process can’t be overstated. Statistically speaking, your
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