Fort Lauderdale Blog

9 Ways You're Wasting Your Money

 

By Barbara Pronin

Almost everyone allows for a few leaks in the budget; paying late fees, spending too much on parties, buying things on impulse. If you’re serious about saving, plugging up a few leaks will add up to cash you can stash.

Kiplinger’s, the money mag, recently updated its annual list of top money wasters:

Interest Rates Little Changed on New Home Loans

 

By Paul Emrath

On August 28, the Federal Housing Finance Agency (FHFA) reported that, overall, mortgage interest rates were flat in July. To a large extent, the same was true for the subset of loans used to purchase new homes. Between June and July, the average contract interest rate on conventional mortgages for new homes ticked down, but only from 4.14 to 4.12.

Should You Retain and Rent Your Home after Relocating?

 

By John Voket

As I chat with real estate pros and industry experts across the country, a new issue is cropping up that warrants some focus. Today more than in recent history, we are learning that many folks are considering renting out a current home after shopping for and moving into a newly acquired property.

Q: Should I Consider A, B, C or D Paper Loan If I Have Bad Credit?

A: B, C, and D paper loans are types of sub-prime loans. There was a time when they were hard to find. Then when the housing market took off, so did the number of lenders offering them. Not so today. High default rates on sub-prime mortgages made to high-risk borrowers with bad credit or those who had filed for bankruptcy or had a property in foreclosure, now have many lenders either shunning these loans or tightening credit requirements on them.

Five Steps to Building a Better Credit Score

According to a recent survey by BMO Harris Bank, the majority of Americans (80 percent) across all ages say they are knowledgeable about how to achieve a good credit rating. Half check their score once a year, while 30 percent check it every few years or less. One fifth do not know their score.

On average, Americans believe a good credit score is 660. Among millennials, that number drops to 625, and those aged 35-54 and 55 and older believe a good score is 675.

Overall findings indicate that while most Americans believe they have a solid understanding of what a good credit score is, there is confusion around attaining it. Harris offers a number of basic tips to manage and improve a credit score, including:

10 Signs You Are Ready to Invest in Real Estate

When it comes to property investment, timing is everything. Ultimately, choosing the right time to enter the market will have a significant impact on the long-term success of your investment.

But how can you as an investor know whether the timing is right? Global property portal Lamudi has compiled a list of 10 tell-tale signs that now is the time to start building your investment portfolio.

The Legal Ins and Outs of Buying a House with Someone

Many people consider buying a house together for many different reasons. Whether it is your first-time home or an investment property, buying a house together does have its perks. If done with care, this arrangement can be very beneficial in getting you a house that you may not have otherwise been able to afford. Be sure to figure out the details explained in this article prior to buying a house together, though, in order to avoid financial and legal chaos.