In early 2005, at the age of 28, I took out a $1,220,000 mortgage to buy a $1,523,000 house in San Francisco. After having bought a modest condo a couple of years earlier, I wanted to go all-in. In retrospect, this was a crazy amount of debt to take on at that age. When the […]
No Mortgage More Courage: Pay Off All Debt Before Retiring Read More »
For most people, an adjustable rate mortgage is better than a 30-year fixed-rate mortgage. With an adjustable-rate mortgage, you will likely save more money during the duration of your ownership. Even in a rising interest rate environment, an ARM will likely still save you money in the end because rates will eventually go back down.
Why An Adjustable-Rate Mortgage Is Better Than A 30-Year Fixed-Rate Mortgage Read More »
Are you selling a property and nervous about the process? If your local real estate market supports it, only accept all cash offers in order to maximize profits and happiness. Once a mortgage is involved, things can get really hairy due to financing contingencies. A buyer is at the mercy of the bank’s decision to
Property Sellers: Only Accept All Cash Offers To Maximize Profits And Happiness Read More »
You know how you see oil prices drop precipitously on the news, yet when you get the gas station to save some money, you’re disappointed because gas prices haven’t gotten much cheaper? The same thing happens with US Treasury yields (oil) and mortgage interest rates (gas). Mortgage rates are largely influenced by the latest 10-year
Why Mortgage Rates Don’t Drop As Quickly As Treasury Yields Read More »
A cash-out mortgage refinance lets you borrow more than you currently owe and keep the difference as cash. It’s one way to unlock the equity in your house. However, doing a cash-out refinance to buy stocks is not a good idea. You could lose a lot of money in a bear market. Instead of doing
Cash-out Refinance To Buy Stocks? Not A Good Idea Read More »
I’m on a mission to help encourage as many people to refinance in American as possible. I get nothing in return, just the satisfaction of trying to help others save money. Lots of people have mortgages, but most people are not a rate hawk like me. Thus, I’m here to give you a nice kick
On A Mission To Refinance In America Read More »
The mortgage interest deduction limit has decreased since the new Tax Cut & Jobs Act was passed in 2018. In the past, you could deduct mortgage interested on up to $1 million in mortgage indebtedness. Today, according to the IRS, the maximum mortgage amount you can claim interest on is $750,000 on first or second
Mortgage Interest Deduction Limit and Income Phaseout Read More »
Congrats on being a homeowner! Real estate is one of my favorite asset classes. Over the past 20 years I’ve owned seven properties and have done multiple mortgage refinances. There are several mortgage refinance strategies and points I’ve learned along the way that have enabled me to save significantly. I hope my mortgage refinance strategies
Mortgage Refinance Strategies And Points You Should Understand Read More »
Refinancing now may be smart as mortgage rates are low but may head higher as the economy recovers. However, if you are struggling to pay your mortgage you may be considering walking away. If you do, there are non-recourse states where you can walk away from your mortgage without the bank coming after your other
Twelve Non-Recourse States Let You Walk Away From Your Mortgage Read More »
As a multiple residential property owner, I am constantly watching interest rates and the 10-year yield. A refinance opportunity has emerged yet again now that mortgage rates have declined. Has it been a while since you last refinanced your mortgage? Now is the time to check mortgage rates for free. See how much you could
A Refinance Opportunity Has Emerged Now That Mortgage Rates Have Declined Read More »
