(source) Cultural observers call them the “Boomerang” generation — the legions of college graduates who, sheepskin in hand, won’t be moving into their own pads after graduation. Instead, they’ll be moving back home with Mom and Dad to save money. Actually, ‘saving money” isn’t an accurate term – it makes it sound like …
5 Tips For Grads and Parents (Once Again) Living Under One Roof Read More »
(source) Unless you’ve been living under a rock, you know that mortgage rates are still incredibly low. In fact, Freddie Mac announced that mortgage rates hit their lowest level for 2011, with 30-year fixed-rate averages at 4.63% for the week ending May 12, and 15-year fixed-rate averages at 3.82%. That low rate comes …
Mortgage Rates Hit 2011 Lows, Fixed-Rate Loans Dominate Market Read More »
(Photo: http://beingselfemployed.org, source) A down payment on your first house is probably the largest single sum of cash you’ll ever put together outside of retirement savings. Assembling this bundle of dough in an ultra-low-interest rate environment is enough to turn you into the kind of person who complains about interest rates at parties—and if you …
Where to Keep Your Down Payment Savings: The Good and The Ugly Read More »
(source) If you walk away from a mortgage you choose not to pay, know this – you’re also walking off a cliff, as far as your credit is concerned. The decision to stop making mortgage payments – a process more formally known as “strategic default” – is usually triggered by a cold, hard …
Strategic Default: Walking All Over Your Credit Score? Read More »
(Image: http://beingselfemployed.org; source) Since the real estate crisis sunk housing values throughout the country, millions of homeowners have found themselves underwater: a situation where they owe more to the bank than the property is actually worth. When someone in that situation is forced to sell — maybe they’ve lost a job and can’t pay the …