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Archive for the ‘Mortgages’ Category

The Cost of Living in a Paid-Off House

Written by Nickel - 29 Comments

About a year and a half ago, we paid off our mortgage. The issue of whether you should pay off your mortgage early or invest has always been a hot topic in financial circles, but I can tell you this much:
We haven’t regretted our decision to pay off our mortgage. Not even once.
Of course, just [...]

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Published on June 22nd, 2011 - 29 Comments
Filed under: Insurance, Mortgages, Real Estate, Taxes
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Time and Again: Serial Mortgage Refinancing

Written by Nickel - 16 Comments

I recently ran across an interesting story on CNBC about “serial refinancing” – the practice of refinancing your mortgage time after time as rates improve. On the surface, this makes perfect sense. If you can drive down your rate without incurring additional costs, why not?
And yes, you can refinance without paying any closing costs. To [...]

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Published on June 10th, 2011 - 16 Comments
Filed under: Mortgages
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When is a Reverse Mortgage a Good Idea?

Written by Guest Contributor - 9 Comments

This is a guest post from Lisa White.
For senior homeowners needing some extra cash, it’s sometimes better to look backwards instead of forwards – with their mortgage, that is.
Reverse mortgages are not easily understood, and many who could benefit from them shy away, afraid of making a mistake. Journalists who have only a cursory understanding [...]

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Published on May 10th, 2011 - 9 Comments
Filed under: Mortgages
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A Tale of Foreclosure and Financial Ruin

Written by Nickel - 17 Comments

The foreclosure crisis has been going on for a couple of years now, but it wasn’t until this week that it really hit home. My wife called last night to tell me that our former neighbors – I’ll call them Bob and Sue – had lost their house and would be moving to another state.
For [...]

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Do You Need Mortgage Protection Insurance?

Written by Laura Martinez - 10 Comments

Have you ever thought about buying mortgage protection insurance? Do you even know what it is? My husband and I first heard about mortgage protection life insurance from our mortgage company. They’ve been sending out little sales pitches along with our mortgage statements.
I’m usually skeptical about programs and accounts advertised by banks, but on the [...]

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Published on November 23rd, 2010 - 10 Comments
Filed under: Insurance, Mortgages, Real Estate
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Financial Rules of Thumb: The Value of Keeping it Simple

Written by Nickel - 11 Comments

Do you have any favorite financial rules of thumb? I recently ran across an interesting study in which the researchers looked at the impact of formal financial training vs. simplified, rule-of-thumb training on financial decision making.
While the focus of the study was rather narrow (micro-entrepreneurs in the Dominican Republic), the results were quite interesting. In [...]

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Published on November 1st, 2010 - 11 Comments
Filed under: Mortgages, Retirement, Saving & Investing
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Dave Ramsey’s House: Living Like No One Else

Written by Nickel - 61 Comments

Debt reduction guru Dave Ramsey is well known for encouraging his followers to “live like no one else so that you can live like no one else.” Sound advice. But have you ever wondered how Ramsey himself lives?
I recently ran across an interesting article that provided details about Ramsey’s new mansion just south of Nashville [...]

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Published on October 15th, 2010 - 61 Comments
Filed under: Debt Reduction, Mortgages, Real Estate
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Why You Need Title Insurance

Written by Nickel - 10 Comments

If you’ve ever bought a house, you’ve probably wondered if title insurance is really necessary. I mean, sure, it protects you in the event of a dispute over the ownership of your property, but how often does that really happen?
This issue has been brought into sharper focus by recent developments in the ongoing foreclosure crisis. [...]

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Published on October 11th, 2010 - 10 Comments
Filed under: Insurance, Mortgages, Real Estate
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Paying Down Debt With a HELOC

Written by Laura Martinez - 13 Comments

Are you swamped with high interest debt and looking for a solution? The airwaves are filled with ads for debt consolidation, but do you really need someone to do it for you? Why not do your own legwork and roll your debts into one low(er) interest loan?
One option for consolidating your debt is rolling it [...]

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Published on August 31st, 2010 - 13 Comments
Filed under: Credit Cards, Debt Reduction, Mortgages
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Strategic Defaults: Buy Now, Default Later

Written by Nickel - 15 Comments

Over the past few months, it’s become clear that a lot of homeowners are strategically defaulting on their homes. In other words, they’re intentionally walking away from their mortgage obligations because they owe significantly more than their home is worth, even if they can afford to keep making the mortgage payment.
But what then? Once you’ve [...]

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Published on August 10th, 2010 - 15 Comments
Filed under: Debt Reduction, Mortgages, Real Estate
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