It’s the summer that cooled off the housing market. Rising mortgage rates have combined with already high home prices to discourage would-be buyers. Mortgage applications have declined sharply. Sales of previously occupied homes have fallen for five straight months, during what is generally the busiest time of year in real estate. The rate on a…
10 Mortgage Hacks Every Homeowner Should Know to Save Thousands
The average monthly mortgage cost in the United States is $1,492 per month according to data from Value Penguin. As such, it’s typically one of the largest line items on a person’s budget. If homeowners want to reduce this monthly payment faster, there are several mortgage hacks you can implement that will save you thousands of dollars on your…
Keep the Wolf From the Door: Protecting Your Home From Lawsuits
Anytime you own property or a business, there is a possibility that you could face a lawsuit. Someone could become injured on your property, a tree on your property could fall on a neighbor’s house, or creditors could sue you to collect a debt. You can take steps to protect your property and assets from…
Passing Down Wealth Without a Tax Burden
Parents and grandparents give a great deal to their children and grandchildren. One of the most tangible legacies they can give is generational wealth. When passing down wealth, most people want to avoid taxation as much as possible, so as to give the maximum amount to their heirs. Estate Tax Exemption An estate tax is…
Why a Reverse Mortgage Is Almost Never a Good Idea
For seniors struggling with expenses, a reverse mortgage may appear to be a practical option. Though such a lifeline seems appealing, a closer look may say otherwise. The industry is rife with scams; fees are high and often hidden. In addition, reverse mortgages may have variable interest rates, so you may wind up owing more…
Social Security Benefits Are Not Prorated
June 21, 2022
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Q: It has always puzzled me why Social Security takes back a person’s Social Security check for the month he or she dies. My aunt died in April, and as her executor, I was counting on using her last Social Security check to pay off some of her bills. But the government took that money…
How to Track Down Lost or Forgotten Assets
Finding extra cash in your coat or pants pocket is always a delight, but there are other hiding places where the rewards are higher. Many Americans are unaware of lost or forgotten assets. These assets could be anything from an old insurance policy to a refund or a lost paycheck. Finding and cashing in on…
12 Ways to Bank Smarter: Simple Tips and Tricks to Increase Your Wealth
By Karen Bennett and Matthew Goldberg From Bankrate.com Banking can be complicated, with thousands of banks to choose from that each offer an exhaustive set of disclosures and fine print. And then there’s the rates and fees, all of which need to be considered carefully before you sign on the dotted line. But these tips…
You’re Losing Money at Your Bank—9 Banking Alternatives that Pay Better
When was the last time you checked your savings account? If it’s been a while, I’m sure that you were expecting a big, juicy return. Guess what? You’re probably severely disappointed to find out that you’ve made almost nothing. Banks often pay low-interest rates on savings accounts, not mention the checking accounts. In May 2022, the national…
Why Is Estate Planning More Important Now Than Ever Before?
By Tom Wheelwright President Biden’s Build Back Better plan has an abundance of tax changes that, if implemented, could significantly decrease the amount of wealth that you can leave to your family. These potential changes are a great reason to begin reevaluating your estate planning now before it’s too late. What’s at Stake? So, why is…
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