Tag: Home Equity
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Could Your Home Equity Help You Meet Longtime Goals? Pick Your Goal and See.
Lenders love sending direct mail, suggesting that deed holders borrow against the value of their homes. And you might be wondering: Maybe accessing some cash could really let me meet personal goals. Your home’s equity — your home’s value, minus what you owe on your current mortgage — is typically the collateral for the lender.…
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What Resources Exist for Deed Holders Who Need Cash?
Ever heard the phrase house rich, cash poor? It can be frustrating to have a valuable home and empty pockets. You might be dealing with job changes, emergencies, new goals, hopes and dreams… And you need cash. Can you reach into your property value to get the cash now — without downsizing to a cheaper…
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Borrowing Against Your Equity: HELOCs, Home Equity Loans…and Interest Rates
One of the opportunities you have as a deed holder is the ability to borrow against the home equity you build over the years. But wait. How high is the interest rate you’ll have to pay? Is it worthwhile to pay that rate, in light of what the funds you borrow can do for you…
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Divorced and Looking (For a House)
If you’re newly separated or divorced, you could be shopping for a home. Letting go of the home you shared with your former partner leads to a series of steps: from the deed you shared, to a new deed. A deed to a home of your own. Here, we spot the issues for the newly…
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Still on the Fence About Selling or Buying This Summer? Consider This.
On the fence about selling your home? Or maybe you’d love to be a buyer, but wonder whether to watch and see if mortgage rates drop… And why not wait for better rates, if you have time to spare? Then again, summer is a traditionally popular time to move. Did you know most deeds change…
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Tapping Into Home Equity Puts a Lien on Your Deed. Consider the Risks.
Many deed holders have accumulated a lot of home equity over recent years. Financial gurus online often encourage homeowners to tap into it. After all, why not take advantage of a home’s rise in value to get cash and do something on your bucket list? But handy as they are, home equity loans do come…
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Could a Home Swap Turn Out to Be a Win-Win? Here’s How It Works.
Well, it’s one way to transfer property deeds between people! Yet trading homes with someone else isn’t your typical deed transaction. In a prolonged tight market, deed exchanges are drawing growing numbers of curious and creative homeowners. Here’s a bit more about the concept.
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Multigenerational Homeownership: How the Deed Is Vested
Millions of U.S. households have multiple adult generations. How do they divide up the worth of their home and the upkeep that goes into it? Who pays the mortgage, insurance, and property taxes? What happens if an owner leaves the home, or passes away? A lot comes down to good deed planning. In this discussion…
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Buying a Home While Interest Rates Are Still High? The Case for “Yes”
For too many years, the U.S. housing market has been out of reach for too many people. But giving up might not be an option. Those able to get a foothold in this market often do it to attain a viable financial future. A homeowner’s wealth goes up along with home values. So, owners accumulate…
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What’s Best in Retirement: Owning or Renting?
To transfer the deed or keep the deed? That is the question. And it tends to come up when retirement age approaches. This phase of life often involves downsizing — to lower the household tax, insurance, and maintenance costs. Paying off the home mortgage can net longtime owners enough to unlock some great options. Rent…
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The Big Tease: Look Out for Rising Interest on a Home Equity Line of Credit
Once you get a deed to your own home, you have special wealth-building powers. Pay off the mortgage faithfully month by month, and you own increasing home equity. This is how your home turns into value you can tap when you need or want it. A home equity line of credit (HELOC) gives you an account…
