When property changes hand due to the death of the owner, there is plenty of paperwork involved. The trustee or executor needs to value the assets to determine if estate tax is due. Heirs may want to sell the property or use it as collateral for a loan, and you will need to ...
Claiming a homestead exemption can provide property owners with an opportunity to save money on their property taxes. In the event of unfortunate financial circumstances, such as bankruptcy, these ...Read More
Revocable trusts can be worthwhile estate planning options, but protecting your real property against creditors or lawsuits usually isn't one of their advantages. Unlike with an irrevocable trust, ...Read More
Home equity is a financial asset you can use to raise money. Equity is the difference between your first-mortgage balance and the market value of your house. If you had a $150,000 mortgage balance on ...Read More
One of the many benefits of home ownership includes earning equity value over time, and you can tap into that equity with a second mortgage loan. Many homeowners choose to take out a mortgage against ...Read More
Many home equity lines of credit are split into two phases: the draw phase and the repayment phase. Typically, the draw phase lasts for 5 to 10 years, during which you can tap your HELOC, and your ...Read More
Seniors with equity built up in their homes can take advantage of the reverse annuity mortgage to get a home equity loan and use the funds to purchase a payout annuity and generate additional ...Read More
Refinancing your home equity loan -- also called a second mortgage -- can lower your interest rate and monthly payments and provide extra cash. Balloon loans normally have smaller monthly payments ...Read More
Home equity loans allow you to tap into the equity you've built in your home, whether the equity comes from paying down your mortgage or because your home has appreciated in value. When lenders ...Read More
For the average person, your home may be your biggest single investment and one of your largest opportunities to gain wealth. Your home equity can be tapped in retirement, either through reverse ...Read More
The money you have invested in your home can be a good source for funding a real estate investment if you don’t take on too much risk. Since you’re using your home as collateral, you need to make ...Read More
A home equity loan uses your house as collateral, and it is considered a secured loan, one that presents a low risk to the lender. If you default, the financial institution can sell your house to ...Read More
Home equity is the portion of your home’s value that is free from liens and mortgages. If you sell your house and pay off these debts, you would walk away with an amount of cash that is about equal ...Read More
The National Association of Realtors' code of ethics opens with the grandiose statement that "under all is the land." When it comes to your home's value, nothing could be both more and less true at ...Read More
Money that you owe against your house can be helpful in building wealth as opposed to harmful to your overall financial standing. With this in mind, you might not want to reduce what you owe on your ...Read More