Mortgages
Homeowners have been conditioned to accept taking 30 years to pay off a mortgage. By doing so, they often pay two to four times the amount originally borrowed. 97% of American homeowners don't prepay their mortgages, and of the 3% that do, only 1% do so consistently. Breaking out of this pattern can be a pivotal wealth creator for most families.
There aren't a lot of sure things in investing, but paying down your mortgage ahead of schedule is one of them. There's no need to sign up for a fancy service to do it for you—this is one step to financial progress that's easy and effective for anyone to start on.
John F. Kennedy once said the word 'crisis' in Chinese is composed of two characters: one representing danger and the other opportunity. The credit crisis of the past several months has certainly presented plenty of danger. But it may also be offering some homeowners an opportunity.
How much is too much when it comes to purchasing a home? Obviously the answer will be different for each family, but some key principles apply regardless of your income level.
Pay off your mortgage years ahead of time and save tens of thousands of dollars in the process. Who could possibly find fault with that? We can – depending on how you make it happen. There's a right way and a wrong way to go about it, and we explain the distinction.
Owning your own home seems as central to the American Dream as Mom and apple pie. So many never question the assumption that it always makes sense to buy as soon as you're able. But the fact is, depending on the circumstances, renting can be a smart option. We provide the framework to evaluate your circumstances and determine the most profitable course.
Homeowners beware: with home equity loans more popular than ever, predatory lenders are reaching deep into their bag of tricks to snare the unwary. Don't let it happen to you – learn these five scams and the red flags that can tip you off before you get involved.
Homeowners beware: with home equity loans more popular than ever, predatory lenders are reaching deep into their bag of tricks to snare the unwary. Don't let it happen to you – learn these four additional scams and the red flags that can tip you off before you get involved.
