Personal Finance Articles
You’re ready to buy a home, but you want to first save up enough money for a down payment. But how much should you set aside each month to do that? And how long will it take you to save enough?
With only one income, single people can have a hard time affording a home and the mortgage that goes with it. Single women, however, are making it happen much more often than single men.
Delaying Social Security benefits by just five years can increase a retiree’s monthly benefits by as much as 30 percent for the rest of their life. But how to come up with the money to replace Social Security benefits for five years? For some homeowners, a reverse mortgage is their best answer.
The high costs of adding solar power or replacing a roof or air conditioner don’t have to be paid with a credit card or pulling money out of savings, as 76 percent of Americans do when financing home improvements. Many homeowners use home equity loans to pay for green energy and related work on a home without having money upfront.
Firefighters after nearly a month had by late December of last year mostly contained the Thomas Fire, the biggest wildfire in California's history. But the fire, which started Dec. 4 about 60 miles northwest of the center of Los Angeles, had already destroyed more than 1,060 structures and burned more than 281,000 acres.
A home equity loan or home equity line of credit (HELOC) is often used to make home repairs or remodel a house. They’re both a type of second mortgage on a home — with the home as collateral if the borrower defaults — so using a home equity loan on something risky such as starting a business should be done with care.
You might think that taking on any debt is a bad thing. But the truth is, there is such a thing as good debt vs. bad debt. And when it comes to good debt? Few types of debt are considered as beneficial as mortgage debt.
Two of every three homes are underinsured by an average of 22 percent, according to Nationwide. With the median U.S. home price at $196,500, a total loss of a home would require the owner to pay about $43,000 out of their pocket.