Shopping for a new home is an exciting time and you may have built up this image in your mind of what it should be. While having what you want in mind is perfectly normal and expected, you must recognize that you must manage your expectations when looking for a home. Doing so will help you manage and reduce any stress that comes with buying a home and keep you on track. [Read more…]
Are you ready to invest your money into a home? A home is one of the biggest assets and investments you will ever have, but it’s also a non-liquid investment. Once you make your down payment, you can no longer easily access that money for any other reason—even if it is an emergency. So before you think about purchasing a home, you need to do a serious review of your financial situation and do some risk management. [Read more…]
If you do not budget correctly and buy more home than you can afford, you can become house poor. Meaning, you spend a majority of your total income on home costs like mortgages and repairs. While not the best situation to be in, it is sometimes temporary and there are steps you can take to lessen the impact on your finances and well-being. [Read more…]
When thinking about buying a home or even just budgeting for the future, knowing what your EBITDA and NI is crucial. These numbers will help you budget and determine how much home you can afford.
What is EBITDA?
EBITDA stands for earnings before interest, taxes, depreciation and amortization. It’s generally used as a way to evaluate your financial performance without factoring in financial and accounting decisions as well as tax environments. Your EBITDA is calculated by using the following formula: [Read more…]
You’re behind on your monthly payments and have found that your account has been frozen by creditors. Can they do that? Simply put, yes. A creditor can freeze your account, also called a bank levy, to collect funds from debts you owe them. Here’s what you need to know if your account is ever frozen: [Read more…]
If you’re selling your house, the internet is the best way to reach potential homebuyers as online visibility will greatly increase your chance of selling your home fast. In today’s technological world, the internet is the first place potential homebuyers will begin looking for a home thanks to its convenience. With that being said, there are several resources can help sell your home online. [Read more…]
When a deficiency judgment is being taken out against you, the collector may use a bank levy—a method where your bank account is frozen and funds withdrawn to pay off a debt. A bank levy is different from a wage garnishment in that the levy doesn’t touch your wages unless it is deposited into your bank account. [Read more…]
When making a big purchase decision, such as buying a home, it’s better to have more disposable income, the amount of money that you have for spending and saving after taxes and other expenses have been paid, than less. Many statistical measures and economic indicators derive from it, such as discretionary income and personal savings rates. These figures can determine whether or not you will be approved for a mortgage loan on your home. [Read more…]
If you need to extend your closing date, there are specific rules you have to follow in order to be allowed to. If you live in Kansas or Missouri, know that there are very few differences in getting approval for extending your home closing date. Namely, who oversees the closing of the home. [Read more…]