Posts Tagged ‘mortgage’
7 Tax Benefits of Owning a Home: A Complete Guide for Filing This Year
What are the tax benefits of owning a home? Plenty of homeowners are asking themselves this right around now as they prepare to file their taxes. You may recall the Tax Cuts and Jobs Act—the most substantial overhaul to the U.S. tax code in more than 30 years—went into effect on Jan. 1, 2018. The…
Read MoreForbes: A Reverse Mortgage Can Help Pay for a Roth IRA Conversion
While likely only to work for wealthier individual retirement account (IRA) owners, using a source of nontaxable cash to fund an IRA conversion could be a viable choice for some retirees considering the currently low rate environment, and assistance handed down by the government to minimize the economic impact of the COVID-19 coronavirus pandemic. One…
Read MoreSelf-Employed and Applying for a Mortgage? Here’s What’s Changed Since COVID-19
The gig economy has blown up in the past few years, with more and more people choosing to work as freelancers, either by starting their own businesses, or by picking up nonsalaried jobs from bigger companies. According to the Freelancers Union, over 50 million Americans worked this year as freelancers, a number that represents roughly…
Read MoreCan you refinance a mortgage while in forbearance?
On March 27, 2020, the federal government approved the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion relief package aimed to provide immediate help to families, small businesses, workers and homeowners. Millions of homeowners took advantage of the CARES Act’s forbearance provision. The term mortgage forbearance refers to a repayment plan that…
Read MoreReverse Mortgage an Option for Seniors Suddenly in Retirement
An increasing number of unemployed people who identify themselves as “retired” have been thrown out of work due to the ongoing economic impacts of the COVID-19 coronavirus pandemic. For those who find themselves suddenly in retirement, it’s important to find options which can assist with cash flow, and in some cases this can include a…
Read More5 Speedy Ways to Come Up With a Down Payment
The best way for first-time home buyers to come up with a down payment for a home: save for one, of course! But sometimes you’re in a hurry. Maybe your dream house just popped up on the market, or you’ve simply had it with being a renter. Whatever the reason, you’re ready to buy a…
Read MoreCNBC: Reverse Mortgages Can Help Seniors Retire Where They Want
Making the decision about where and how to spend retirement can be difficult for many American seniors, often dictated by the amount of resources a retiree has access to. One of these decisions can involve either moving — into a new home or an assisted living facility at the appropriate time — or choosing to…
Read MoreHow to Protect Your Finances After Losing Your Job
Losing your job is tough. While it can be tempting to dip into your long-term savings to cover your immediate expenses, this can be a bad idea — especially if you’re nearing retirement. Fortunately, there are many other ways to pay the bills and set yourself up for a successful future, like working with Carefree…
Read MoreMortgage Professor: How to Use a Reverse Mortgage to Avoid Poverty
For someone who has used existing assets to pay off an existing mortgage on their home, the use of a reverse mortgage line of credit would be an effective way to prepare for a person’s older years and to avoid premature exhaustion of assets, which can lead to poverty. This is according to Jack Guttentag,…
Read MoreParents, Don’t Worry if Baby’s Sleep Is Erratic
New parents can relax: Research suggests it’s normal for infants’ sleep patterns to vary widely. “Although previous research has shown that infants start sleeping through the night at different stages of development, little is known about individual sleep patterns night after night,” explained study leader Marie-Helene Pennestri. She’s an assistant professor in the department of…
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