People who are successful in achieving their financial goals know that it did not happen overnight, after a week, a month or even a year after that. In contrast, it took them years to build personal wealth. They set specific financial goals, managed the risks and strive hard to achieve them. In making strategies, it is important to focus them on specific goals. Now, in preparing and setting your goals, do not forget that you are human. No matter...more
Saving moolah is easier than ever before. As the globe becomes tinier and globalization takes greater effect, it becomes more difficult for conglomerates to charge immense amounts because it is so simple to compare prices and find a lower price substitute. Due to this, it is a superb time to be a purchaser. As things go forward, savings will continue, and margins will continue to drop, although not nearly at the speed that they had before. The...more
Rates fell for the third straight week. They hit the lowest point since May 21st and they reached the 6th lowest point in history. It will come as no shock to those that have been following rates that the 5 lower rates all occurred this year. Below are the 6 lowest rates of all time.April 30th - 4.78April 2nd - 4.78April 23rd - 4.80April 16th - 4.82May 21st - 4.82Nov 19th - 4.83As we can see although it's the 6th lowest it's extremely close to the all time low of 4.78 reached in April. Falling below 4.78 at this point would be significant though. While it would not make a big difference in actual mortgage payments it would create headlines. And having a bunch of stories about historically low mortgage rates could push some buyers off the fence and help increase sales.In addition to the 30 year rate falling the other major mortgage products fell as well this week. In fact the 15 year mortgage and the 5 year arm both hit all time lows this week. Below are rates from the weeks from Oct 22, 2009 to Nov 19, 2009. We also showed rates from April 30th, 2009 which was the all time low for the 30 year mortgage.Nov 19, 2009 30-year 4.83 15-year 4.32 5-year ARM 4.25 1-year ARM...more
Wealth building in the Conspiracy AgeYes, there is a conspiracy against you.There are three parts to wealth building. The first is making money, next is hanging onto what you make, after this it's a matter of investing in way's that put the fruits of you're labors to work for you. I have to say I have made a lot of mistakes in the...more
Author: Arush KeerthiLooking forward to have an extra source of income to make profitable returns?If yes,then buy-to-let mortgages are the choice for you.They are also known as investment mortgages and are basically meant for borrowers who want to buy a property to let out to a third party.This promises to a steady source of income. Property...more
With the economy in doldrums, joblessness rate on the rise, the deteriorating home values and interest rates adjusting the fear of missed mortgage payments and foreclosure is turning into a reality for many Americans. If you are consistently late with your monthly mortgage payments or have even missed a few, you may already be in trouble. For instance, if you are late by 30 days in making your payment, it will reflect on your credit report and if you miss three payments you will not qualify for a mortgage anymore. Now even though most home owners are fighting neck and tooth to make those payments; it's not always possible. So what do you do if you simply can't keep up with the monthly mortgage payments? Do you let the bank foreclose your home?In such a scenario there are only two options; you can either opt for refinancing or for a home loan modification. However, refinancing is at best just a short term solution. Now even though there are certain steps that you could take to ease your financial crisis like taking a second job, finding a better paying job or renting out a part of your home, if none of these options are available you may want to seriously evaluate your situation.If...more
Wealth does not exactly refer to money. While majority would associate the former to the latter, it does not necessarily equate to one another. In reality, money is a by-product of wealth and because this is the case, you can simply infer that wealth...more
Mortgage Payment Protection as Unemployment Insurance Unemployment insurance is a term used for mortgage payment protection, loan protection and income protection which is taken out in case some time in the future you find yourself unemployed...more
After falling for the last 6 weeks mortgage rates started to rise this week. The 30 year rate rose from 4.87 to 4.92. The 15 year mortgage rose from 4.33 to 4.37. Both arms rose as well with the 5 year arm rising from 4.35 to 4.38 and the 1 year...more
You must take care when selecting your mortgage broker. It may help you out if you collect sufficient data regarding mortgage loans in general. This might enable you to grasp what exactly to watch out for. You should 1st recognize what to look out...more
Last week mortgage rates matched their all time low of 4.78. This week rates fell even further reaching a new low of 4.71. To put this in some context in terms of historical mortgage rates before the last 12 months the all time low was 5.24 which...more
How to determine whether to refinance can seem big and confusing, but in reality when broken down into simple facts it is all just simple math. Take the time to write down all the math you do and it will be easy to see in front of you whether it will...more