For many people the nightmare of selling one home to buy another is one they wish to avoid. Even though they do want to move to another home they don’t want the hassles that come. Realistically they know they must sell the first one to be able to buy the second one. The last thing they want is to end up with two mortgage payments to cover.
The reasons for moving are varied. You may have outgrown your current home. Or you’ve decided to accept a new job in a new location. Or you are preparing for retirement and are downsizing and accessing the profits from your investment in your home so you can retire. If you are renting now, and contemplating buying a new home, you may even want to do a rent VS. buy analysis. In addition, if you are considering taking a new job in a new community, be sure to analyze the cost of living in the new community. Will you actually have a better lifestyle after the move just because you will be taking a new job that pays more? Perhaps not. Again, web sites with resources are provided below to guide you in these decisions.
Collision insurance for your own car is a useless thing too. It might be a little difficult to fathom why this is useless. After all, you do want to be covered for the cost of the repairs if your car is totaled, don’t you? Well, you certainly do – and you do have it already. Every car Guaranteed payday loans no denial comes with car insurance included in the deal. If you take out separate collision insurance, you’re doubling things – a great way to spend too much if ever there was one.
This type of loan was built for small business owners. Mortgage companies came to the understanding that they could not force a business owner to try to prove what they really make because it is very difficult to do so. This is what caused them to introduce stated income programs.
Our government has also become a ‘spend and put it on loan’ monster. They just print more money and borrow from other countries to pay for the excess.
OI pulled off a minor miracle and got all the money I owe the bank to bring me current, but I am afraid it’s too late to stop the foreclosure process.
If you have equity trapped in the bricks and mortar of your home perhaps you should reconsider how you invest the largest asset you have. Can you really afford to let your money sit idle or should ALL of your money be working for you? My advice is to talk to a trained professional about how to use all of your assets (even your idle ones) to your best advantage.