Tag: Dollars and Sense

Dollars and Sense: Refinancing Your Home

If you are interested in borrowing against your home’s available equity, you have choices. One option would be to refinance and get cash out. Another option would be to take out a home equity line of credit (HELOC). Here are some of the key differences between a cash-out refinance and a home equity line of…

Dollars and Sense: What Is A Stated Income Loan?

In the past, stated income mortgages were home loans that did not require income verification or documentation. Lenders just needed a borrower’s stated income—hence the name “stated income” loans. Unfortunately, these risky loan types contributed to the 2008 housing market crash, and banks stopped issuing stated income loans as a result. This prevented banks from selling…

Dollars and Sense: Reverse Mortgages (Part 5)

The Paseo Financial Group Recently, the Consumer Finance Protection Bureau put together a report to examine the reverse mortgage industry. This report concluded that the following groups of seniors were most likely to benefit from obtaining a reverse mortgage: * Those looking to supplement a fixed income in retirement. * Those who need a home…

Dollars and Sense: Reverse Mortgages (Part Four)

The Paseo Financial Group There are three major fees that borrowers must pay. Most are similar to those paid on a forward mortgage. These are the upfront fees that you will need to pay: Origination fee paid to the lender. This is government regulated and ranges from a minimum of $2,500 to a maximum of $6,000,…

Dollars and Sense

Newly single? Keystone Law Firm offers five financial protection strategies to help When you find yourself newly-single again, there are so many emotions and concerns to consider. Your financial health could be flung into your face or if it hasn’t been, you could be thinking of many other things instead. Unfortunately, during these times, regardless…