Understanding a HELOC
A HELOC is a home equity line of credit. This allows you to leverage the homeownership equity you already have. This will allow you to borrow funds and repay as you need during a specific period. When you pay back your line of credit you can start the process all over again. You use your home equity as collateral for the line of credit. You have to be careful with this because if you fall behind, you will be at risk for foreclosure.
Man doesn't want to pay the rent because he'd rather get a certain car
When you own a home, you can do others a favor by letting them stay with you while they get things together. However, after a certain point you may feel like you're being taken advantage of and will need to put a stop to it.
Is Affordable Housing Possible in Bozeman, Montana?
I moved to Bozeman, Montana, from San Diego, California, in the spring of 1993. If you haven't been to Bozeman, it's a beautiful place. It's in a valley surrounded by mountains with spectacular views in all directions.
Institutional Ownership Threatening Homeownership in New Jersey
According to a new report by the NJ DCA, the increasing trend of residential properties owned by corporations and business entities creates challenges for low-income homebuyers.
Mass. Homeowners Livid Over 135% Property Tax Increase
Hundreds of Massachusetts homeowners are livid due to property tax bills that have increased as much as 135% since last year. A report from Boston's WCVB notes that the town of Lunenburg is facing immense backlash from residents. Per the news network, the massive property tax increase means that many homeowners in the municipality will have to pay thousands of dollars more than they expected to this year.
Is 2023 the Right Time to Buy a House? Here are some reasons to Say Yes
Are you considering buying a house in 2023? There are many compelling reasons to take the plunge and become a homeowner. Building equity is one of the main benefits of owning a home. As you make mortgage payments and the value of your home appreciates, your equity will grow and serve as a financial cushion in the future. The potential for appreciation is another reason to buy a house in 2023. Real estate tends to increase in value over time, and buying a home in a desirable location could potentially yield a good return on your investment in the future.
Affordable housing is a basic need for all
Single Family Housing CommunityPhoto byPhoto by Breno Assis on UnsplashonUnsplash. Food, shelter, and safety. Those are all basic needs every human being has and deserves. Unfortunately finding a home that is affordable has become more of a stretch these days. With so many in the world unsure of where the world is headed next, unfortunately, housing has become a bigger issue than ever. Each day I witness more luxury housing developments going up but that leaves a larger gap for those in need.
Rise in Institutional Homeownership Created Higher Prices, Less Housing for NJ Homebuyers, Says DCA Report
Report Finds Institutional Homeownership Is Rising, Contributing to Less Housing Inventory and Higher Home Prices for Regular Homebuyers in New Jersey. The New Jersey Department of Community Affairs (DCA) today issued the report “Buying New Jersey: The Rise in Institutional Ownership of Residential Properties,” which examines the recent rise in institutional homeownership and its impact on the ability of New Jersey residents to buy a home.
How Homeownership Protects you Against Inflation
As a growing number of Americans are affected by rapidly increasing inflation rates, many are looking for ways to safeguard themselves against it. Did you know that investing in real estate acts a hedge of protection against inflation? Keep reading to learn how.
For the first time since April 2002, mortgage rates have exceeded 7%
Mortgage rates top 7% for first time:(Jessica Bryant/Pexels) For the first time since April 2002, mortgage rates have reached 7%, giving price-conscious homebuyers one more reason to hold off.
Unexpected Mortgage Stimulus Program Opens
Inflation has hit renters and homeowners hard. The increase in the Federal interest rate put a lot of pressure on people looking to own a home. The Biden administration wants to help. They have set up a scheme that will distribute money to several states. The cash will be for homeowner mortgage financial aid.
Opinion: The Housing For Low-Income Americans Act
I have a solution for homelessness. Okay, so my plan may not end homelessness, but it could make a really big dent. I am the Director and founder of an eighteen-year-old homeless advocacy organization. In addition, I’ve been homeless off and on for many years. I’ve been to many shelters across the country and seen what works and what doesn’t. As I see it, the biggest problem with America’s homeless issue is the lack of cooperation and organization on a national basis. Imagine people attacking the issue from a million different directions. Now add the fact that many of the people in charge are clueless and only in it for the brownie points. I am here to offer a viable solution that I have tried championing for over a decade. I’ve sent copies of a bill proposal to media outlets, powerful moguls, and umpteen legislators. I’m saddened to report that none of our “caring” legislators were interested. My only course of action is public opinion and shaming them...which won’t be easy since most have no shame. First, some facts. According to Pewtrust.org, there is a shortage of 3.8 million affordable housing units in the US. Endhomelessness.org puts the number of homeless at about 580 thousand. There are currently 16 million vacant homes. More than 2.3 million low-income families are on the Housing Choice Voucher program. Most of those are renters (I don’t even want to guess how many are renting from slumlords). What if you could move a majority of renters into homes of their own that are currently sitting vacant? Those affordable units then become open to absorb the homeless. Wouldn’t that be a win-win?
Mobile Phone Home Apps Every Homeowner Should Have
5 Awesome Apps to Have on Your Phone as a Homeowner. Homeownership is a journey that comes with its own unique set of challenges and rewards. There are many things to consider before you can call yourself a homeowner, from budgeting for mortgage costs and maintenance to figuring out what utilities you’ll need in your home and where they’ll come from.
New Jersey Scraps Homestead Rebate, Implements ANCHOR Program
New Jersey has scrapped its Homestead Rebate, replacing the tax break with the new ANCHOR program. The acronym, which stands for Affordable New Jersey Communities for Homeowners and Renters, has different requirements than the Homestead Rebate, meaning more Garden State residents are eligible to take advantage.
Bank Of America Offers 0% Down Home Loans
The loan will allow borrowers to buy homes in select cities. It includes 0% down and no closing fees. This program aims to make homeownership more accessible to minority community borrowers. (source)
Collin County 2022 Property Tax Rates Are Out — File a General Homestead Exemption to Reduce Your Bill in the Future
Collin County homeowner starting their general residence homestead exemption applicationPhoto by Christine Hume. Collin County will soon be releasing property tax bills to property owners across the county. You can calculate your anticipated taxes by reviewing Collin County's 2022 tax rates. Your total property tax rate will likely include:
You now need to make $199,000 a year to afford a median-priced home in California
The dream of owning a home in California is becoming more challenging than ever, according to a new study from the California Association of Realtors (CAR). CAR just published its second quarter 2022 housing affordability report, and the numbers don’t bode well for anyone hoping to buy a home in the Golden State.
Real estate is not a spectator sport. You must be fit to sell homes in Denver
Who do the Denver Broncos partner up with to "be sold"? With headquarters in Denver Colorado it is an easy "fit to sell homes" with RE/MAX Professionals! Just as sports news moves at a rapid pace in the Mile High city; so does real estate! But whether if it is buyers market or a sellers market; you definitely want a Professional in your corner. Meet Kim Farnell.
Increase the Value of Your Home in 2022
Let’s be honest: if you own a home, your goal is not only to maintain its value, but to increase it. Many homeowners believe they need to make big updates (i.e., a full kitchen remodel) to effectively increase the value of their home. But in fact, simple efforts are often overlooked and underappreciated that can significantly impact the profitability of your home when you eventually sell it.