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Automatic thermostats can lower your monthly utility costs while conveniently regulating your comfort by adjusting temperatures on your heating and cooling systems. These can be particularly effective in homes with zoned systems where you live in one area during the day but sleep in a different zone. There are programmable thermostats available at home improvement stores that can make the … [Read more...]
© 2012 Residential Finance Consultant | This article cannot be reprinted or republished without written permission. Subscription service is available to republish the article by direct mail, social media or blog.
Rental homes can be the IDEAL investment in today's market because they offer a much higher rate of return than alternatives without the volatility of ups and downs in the stock market. IDEAL serves as an acronym to identify the advantages of rental properties: Income from the monthly rent contributes to paying the expenses and a return on the investment Depreciation is a non-cash … [Read more...]
© 2012 Residential Finance Consultant | This article cannot be reprinted or republished without written permission. Subscription service is available to republish the article by direct mail, social media or blog.
"If it isn't broke, don't fix it" is certainly popular advice, but if you've ever had a serious plumbing leak, you certainly wished you had taken care of the problem earlier. Washing machines, like all appliances, are supposed to work and when they don't, it's time to have them fixed or replaced. However, there is a critical connection from your water supply that may even be older than your … [Read more...]
© 2012 Residential Finance Consultant | This article cannot be reprinted or republished without written permission. Subscription service is available to republish the article by direct mail, social media or blog.
FHA has raised the annual Mortgage Insurance Premium to 1.25% beginning April 1st. MIP is required on all FHA loans and used to fund losses by lenders for borrowers who default on their mortgages. As of June 1st, FHA loans in excess of the standard maximum of $625,500, in high-cost areas, will have a premium of 1.5% of the loan amount. In addition to the increase in the annual MIP, FHA … [Read more...]
© 2012 Residential Finance Consultant | This article cannot be reprinted or republished without written permission. Subscription service is available to republish the article by direct mail, social media or blog.
Similar to Diogenes’ search for an honest man, homeowners want someone to do quality repairs at a fair price. The task appears reasonably easy but if you’ve ever tried to locate someone to fix something, you know just how difficult it is. Finding a list of companies from a phone book doesn’t mean they’ll be reasonable and reliable, it just means they have a phone and are willing to … [Read more...]
© 2012 Residential Finance Consultant | This article cannot be reprinted or republished without written permission. Subscription service is available to republish the article by direct mail, social media or blog.
Regardless of what a lender quotes on mortgage rates, the actual rate paid by a borrower is based on a number of variables. Lenders determine whether to loan money and at what rate based on the risk involved with the transaction. Factors that increase the risk that the loan will be repaid will proportionately increase the interest rate charged to the borrower. If the risk becomes too high, the … [Read more...]
One third of all U.S. households, 75% of households with more than $75,000 income and most homeowners itemize their deduction on their federal income tax returns. It makes sense because the interest paid on their mortgage and their property taxes probably exceeds the allowable standard deduction. However, with interest rates as low as they have been in the last two years and the price of homes … [Read more...]
Points refer to prepaid interest on a home mortgage and can be fully deductible by the buyer in the year paid if the right conditions exist. The points must be used to buy, build or improve a taxpayer's principal residence but not all fees charged by the lender are necessarily deductible. According to IRS Publication 936, "The term 'points' is used to describe certain charges paid, or treated as … [Read more...]
You don't have to be Dorothy in the Wizard of Oz to feel like there's no place like home. Home is a place to call your own. It's a place to raise your family and share with your friends. It's a place to create memories. A home is a place to feel safe and secure. Inspect all of your decorations and electrical lighting before using them. While you're enjoying the holidays this year, it's … [Read more...]
