Shopping for a new home is an exciting time and you may have built up this image in your mind of what it should be. While having what you want in mind is perfectly normal and expected, you must recognize that you must manage your expectations when looking for a home. Doing so will help […]
Are you ready to invest your money into a home? A home is one of the biggest assets and investments you will ever have, but it’s also a non-liquid investment. Once you make your down payment, you can no longer easily access that money for any other reason—even if it is an emergency. So before […]
If you do not budget correctly and buy more home than you can afford, you can become house poor. Meaning, you spend a majority of your total income on home costs like mortgages and repairs. While not the best situation to be in, it is sometimes temporary and there are steps you can take to […]
When thinking about buying a home or even just budgeting for the future, knowing what your EBITDA and NI is crucial. These numbers will help you budget and determine how much home you can afford. What is EBITDA? EBITDA stands for earnings before interest, taxes, depreciation and amortization. It’s generally used as a way to […]
You’re behind on your monthly payments and have found that your account has been frozen by creditors. Can they do that? Simply put, yes. A creditor can freeze your account, also called a bank levy, to collect funds from debts you owe them. Here’s what you need to know if your account is ever frozen:
When a deficiency judgment is being taken out against you, the collector may use a bank levy—a method where your bank account is frozen and funds withdrawn to pay off a debt. A bank levy is different from a wage garnishment in that the levy doesn’t touch your wages unless it is deposited into your […]
When making a big purchase decision, such as buying a home, it’s better to have more disposable income, the amount of money that you have for spending and saving after taxes and other expenses have been paid, than less. Many statistical measures and economic indicators derive from it, such as discretionary income and personal savings […]
If you need to extend your closing date, there are specific rules you have to follow in order to be allowed to. If you live in Kansas or Missouri, know that there are very few differences in getting approval for extending your home closing date. Namely, who oversees the closing of the home.
Between a down payment, closing costs, and other additional expenses you may encounter, finding the funds to become a homeowner may seem near impossible. Luckily, there are solutions for homebuyers that are facing financial challenges.
Are you in default or about to default on your loan? There are many consequences like fees and damage to your credit score, and your loan is now considered non-performing. One of the fees you will come across are default-related fees. These fees typically come from default-related services, and are determined by default rates.