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0
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4answers
74 views

Mortgage Refinance

We are refinancing from a 30-yr to a 15-yr. Our current rate is 3.75%. The new rate for 15-yr is 3.875%. The loan is costing us $10,000 which is included in the loan. Our payments will go up approx. ...
1
vote
2answers
63 views

Is Quit Deed all I need?

I would like to get the title of my late grandparents house out of his trust, and into my name (Grandson) and my uncle's(Son) name. Should I get a lawyer or is this really all I need. Its Illinois ...
3
votes
1answer
174 views

Tax rebate on Home loan on mother's property

I have got a home loan from SBI on my mother's property. she is co-signee on the the loan. Can I use EMI paid for my tax saving.
3
votes
1answer
450 views

When to liquidate mutual funds for a home downpayment

I have about $18k in mutual fund assets that I am planning to use for a down payment on a home within the next 1-2 years. Combined cost basis for the assets in question is +$2,800. Right now the asset ...
5
votes
2answers
236 views

What are some strategies to determine how much I should spend on rent when I have a lot of savings?

I'm fortunate enough to have saved a lot of money over the years, and have nothing specific that I'm saving for (it will be at least a few years before I start a family). This is great of course, but ...
3
votes
1answer
83 views

Can multiple inquiries with only one mortgage lender over months hurt your credit?

We applied for a home loan in the beginning of January and was told to wait 2 months. I want to know if multiple credit inquiries from only ONE lender will hurt or does it count as one creditor? Over ...
13
votes
2answers
529 views

Seller refuses to accept offer on home until after inspection

I'm currently trying to buy a home (that happens to be a foreclosure), and the bank who owns it is allowing us an inspection period, however they are unwilling to accept our offer until after the ...
2
votes
4answers
427 views

How do I know if Home value is likely to go up?

When looking for a home to purchase, I have heard that location is an important factor in determining whether the home value will go up or not. What things would I need to look for when purchasing ...
6
votes
3answers
1k views

How to pay more principal on home loan?

This is how I pay off my current loan for my condo. Principal and interest - $1,867.27 Escrow payment - $776.63 Total monthly payment - $2,643.90 When I go and look at the transaction detail. This ...
1
vote
2answers
198 views

Credit card transactions for personal finances

I have personal finance software installed on my mobile phone. I input all the info about purchases/spending in there so that I keep track of my money. Recently I've got a credit card with a bank. ...
5
votes
6answers
730 views

Keeping money at home

I was in the office of one of the investment companies and on the brochure they said that 13% of people keep money at home. I wonder if there is a good reason to do that. even if banks would fall ...
7
votes
3answers
2k views

How to get a down payment for your next home? Use current home as the down payment on the new one?

I bought my first home last year; it's my primary (and only) residence. I intend to pay off the mortgage in 5 or 10 years, then sell the house and buy a bigger one. The new one would cost 2 to 3 times ...
7
votes
5answers
499 views

Smart to buy a house in college?

My brother and I are still in college, but we have quite a bit of money saved up from various online businesses we own. We are looking at places to stay next year and are considering purchasing a ...
3
votes
2answers
387 views

How to calculate interest tax deduction for a mortgage?

I am trying to ascertain the effect of the mortgage tax deduction on my bottom line. The various calculators I found are confusing to me. Specifically, I want to know how much less I'll pay in ...
16
votes
2answers
448 views

What are the primary risks of buying a house in a short sale?

What are the primary risks of buying a short sale home? I've been looking at it as a way to buy a home cheaply, and I understand that repairs may be in order. However I've been warned (in general ...
4
votes
2answers
162 views

Buying a short-sale property with repairs needed

I'm looking at purchasing a property that might require somewhat extensive repairs to one of the buildings on the lot (charred timbers in the ceiling of the detached garage/barn from an old fire). ...
7
votes
2answers
106 views

Should I purchase earthquake (or other disaster) insurance?

We recently purchased a home. The other day we sat down with our insurance agent to go over our coverage and make sure we were happy with it. Insurance for most disasters (fire, flood) have to be ...
2
votes
3answers
285 views

Ontario New Home Tax Rebate

I've been doing a lot of research on the new home tax rebate. There is a house we want to buy, listed with a realtor - the seller who owns both the land and the house is a builder (he bought the land ...
6
votes
4answers
133 views

Does it make sense to switch from a 30 year 6.99% loan to a 6.89% loan (Australia)

I have recently bought an apartment and have an outstanding loan for $200K. I looked around but the bank I presently bank with somewhat surprisingly offered me the best rate at 6.99% (discounted off ...
19
votes
5answers
461 views

Is a Home Warranty worth the money?

I'm a first-time homebuyer, and one of the stipulations of the down payment assistance program I have is that I have to buy a home warranty (which covers appliances, plumbing, roof, etc in case of ...
7
votes
3answers
311 views

Is it worth working at home to earn money? Can I earn more money working at home?

I am just started using basicallymoney.com... My question would be Is it worth working at home to earn money? Can I earn more money working at home?
12
votes
2answers
295 views

Is selling your house without an agent worth the hassle?

There have been numerous "for sale by owner" signs appearing recently. This seems like a convenient way to reduce the commission charged by Real Estate agents but I have heard that this is still a ...
7
votes
1answer
96 views

How can I save money on home insurance?

What are some of the easy or not-so-easy ways to save money on home insurance?