Canceling PMI can save you thousands. If you own a home and you put less than 20% down, it’s likely you have Private Mortgage Insurance, or PMI. This is insurance that you, the borrower, pays to protect your lender if you default on your mortgage. Stated another way, the loan-to-value ratio (LTV) is too high […]
Tag Archives | home values
Home Equity – Let’s Not Blow It This Time
In the early 2000s, property values were rising at a rapid rate and bringing with it newfound home equity. As property values rose and mortgage rates dropped, the temptation to refinance and take cash out became irresistible for many. This financial transaction is not so affectionately known as “using your home as an ATM.” It’s officially known as […]
Home Ownership – Should I Buy a House or Rent?
At some point, most everyone has asked the question “should I buy house or rent?” Buying a home is often considered a key component of the “American Dream.” But for many, it became the American Nightmare during last decade’s Great Recession. According to a recent article on CNBC “more than 6.5 million homeowners are still underwater” […]
Should I pay off my mortgage early or invest?
Guest post from Andrew Comstock, CFA with Castlebar Asset Management In my financial planning discussions a question that universally comes up with clients (young and old) is should they pay more on their mortgage each month or take the extra money and invest it. The answer is not always straightforward and there is no rule […]