Chances are you have watched the HDTV channel at some point. Investors and ambitious do it yourselfers buy a home that needs a little work, then completely renovate the property to turn a massive profit. But is remodeling as easy as it seems on TV? [...]
It may not feel like it today, but before we know it, spring will be here in Michigan. In just a couple of months there will be several open houses and eager buyers looking to put in an offer on their dream home. The ideal [...]
Congress has recently restored the mortgage insurance (MI) tax deduction for 2018–2020, providing even more incentive for Michiganders to purchase a home or refinance. Borrowers with adjusted gross incomes below $100,000 per year can deduct 100% of their insurance premiums on their federal tax returns. [...]
First-time millennial home buyers are optimistic about the housing market. In fact, 68% believe it that 2020 is a good time to buy a home. However, many first-time buyers are overwhelmed by the mortgage process or feel challenged by affordability. Or, those who are searching [...]
On January 1st 2020, the Federal Housing Finance Agency (FHFA) increased conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac. The new limit for single-family homes will be $510,400, which is more than 5 percent of an increase from $484,350. The FHA [...]
If one of your goals for 2020 is to buy a home, here are 5 resolutions that will improve your financial picture and put you on the path to homeownership. 1. Avoid Changes in Employment Employment history is one of the major factors considered when [...]
According to a recent article from AAA, more Americans than ever on record – 115.6 million – will travel this holiday season, from Saturday, Dec. 21 through Wednesday, Jan. 1. “Travelers should be getting used to crowded highways and airports, as this marks the eighth [...]
Holiday spending is one of the biggest reasons Americans go into debt. Nearly half of Americans will take four months or more to pay off all that debt, with nearly 12% opting to make only the minimum monthly payment. Those high interest payments could be [...]
Paying extra on your mortgage means that you make additional payments to your principal loan balance beyond your regular payments. For example, if your monthly mortgage payment is $1,200, you could pay an extra $200 to the principal for a total payment of $1,400. Not [...]
This weekend kicks off the busiest retail season of the year and shopping malls will be filled with people seeking sales. But shoppers are not the only ones looking for a great deal. Many criminals see this time of year as an opportunity to move [...]
