Home Equity Loans 101

Homeowners looking to borrow a large sum of money may find a home equity loan to be an attractive option. These loans are typically used to fund a major home renovation, college education, consolidate high interest debts or pay off medical bills.

A home equity loan allows a homeowner to borrow money using the equity in their home as collateral. The equity consists of whatever funds were invested in the home at the time of purchase, principal from mortgage payments, improvements done to the house and any appreciation of the house value since purchase. Read more

What’s the Worth of Your Student Financial Aid?

Many students go to college thinking that as they are awarded a certain financial aid package by a chosen school or university, they are financially set throughout college. In fact, just because a school offered them the most financial aid, they think that it’s the best offer available.

So don’t take the first financial aid package you are offered, as there are a number of things to consider before finally choosing one. Falling into such mistake could still cost a student or parents a difference of thousands of dollars over the course of their college career. The following are simple steps to help a student decide on a college financial aid package. Read more

Top 5 Home Seller Mistakes

At last, you’ve decided to sell your home. You’ve figured that waiting for the economic situation to get better is getting you nowhere. With the prices plunging and people going after the lowest buys, you’ve realized that things could get even worse. The uncertainty keeps looming ahead. But don’t go ahead and sell your home just out of fear. The biggest mistake you could ever make is to sell your property at an excessively low price, thus wasting away its good value. Read more

Guide to Worry-Free College Finances

The road to college has always been filled with thorn-like dilemmas for many high school seniors and their parents. There are the questions on what college to attend, what major to pick, but most importantly, how much of a college education they can actually afford. Some may even wonder is college even necessary?

In recent years, college costs are rising at a pace much faster than the nation’s overall inflation rate. Because many colleges are seeing a decrease in student enrollment, they are willing to inject more options in the financial arrangement between them and the student. This is a great opportunity for anyone who wants to finish a degree but is limited by the family’s meager financial resources. Read more

Top 5 Mistakes First-Time Homebuyers Make

With home prices and mortgages at record lows, many first time homebuyers think it is the perfect time to buy their first home. For many it is the right time to become a homeowner, but there are a few common mistakes many first-time homebuyers make. Read our top 5 pitfalls below and learn how to avoid them. Read more

Mortgage Selling: What Is It All About?

If you have an existing mortgage, it could only mean that you borrowed money to finance your new home or to acquire a new property.  In the traditional setup, you are expected to pay your monthly dues to your mortgage provider until such time that you are able to repay everything.  However, what does it mean when your mortgage provider tells you that your mortgage has been sold?  Specifically, what does it mean to you and how will such a move affect you? Read more

Refinancing: What Are Your Options?

Once you have decided to refinance, you must now learn about the refinancing options available.  There are generally four types of refinancing plans – low fixed-rate loan, cash-out or cash-back refinancing, shorter term loan, and longer term loan.  The decision on which of these types best suits your needs depends on your reason for refinancing and your familiarity with the benefits and advantages that come with each type. Read more