Month: May 2020

4 Ways You Can Afford to Invest in House Flipping as a Career

Dreaming of breaking into the house-flipping game? While it might sound like something anyone can do simply by reading a book or watching a few TV shows, house flipping actually requires a substantial amount of capital to get going…and that’s the first major snag most folks face. Here are four strategies that can help you successfully navigate that issue, many

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Pros and Cons of a No-Fee Mortgage

The Pros and Cons of a No-Fee Mortgage

When you apply for a mortgage or refinance an existing mortgage, you want to secure the lowest interest rate possible, and this explains the allure of no-fee mortgages. But while a no-fee mortgage might sound appealing—thanks to a lack of lender fees or closing costs—they come with their own set of pros and cons. They almost always carry a higher

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Cash Out Mortgage Refinance

Understanding the Tax Implications of a Cash-Out Mortgage Refinance

A cash-out refinance lets you borrow from your home equity or the difference between your current mortgage balance and the value of your home. If your home is worth $200,000 and your current mortgage balance is $150,000, for instance, that means you have $50,000 in home equity. Getting a cash-out to refinance allows you to access that equity in cash

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Seeking Mortgage Forbearance? Watch Out for These 6 Red Flags

If you’re among the millions of Americans facing the prospect of unemployment or reduced income due to the coronavirus pandemic, you might be considering asking for a break on your mortgage payment. But keep this in mind: Requesting forbearance on your mortgage isn’t foolproof. The $2.2 trillion CARES Act stimulus package requires servicers to provide forbearance—or a temporary postponement of

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