Tag Archives: Mortgage

5 More Savings

1.Some Stores will refund  the difference of an item drops in price soon after you purchase it. Get the Earny app or paribus app to find and claim refunds.

2. Free credit reports: – Visit Annualcreditreport.com once a year to request your score from each of the three credit reporting companies, Equifax, TransUnion and Experian

3. Reimbursed ATM fees: – Most online banks and some traditional bans will reimburse you for the fees incurred when you use another banks ATM. That can save you up to $4.68 (this is for the usA not so sure about Australian banks. Will give it a try though)

4. Mortgage magic: – A 30 year $300,000 Mortgage at 4 percent costs $1,432 a month. If you pay $716 every two weeks you can cut interest payments by $34,000 over the life of the loan

 

5. Get free books:- You can download nearly 60,000 public domain e-books, including many classics and favorites at gutenberg.org. Save $3 – $10 per e-book

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Did You Know – 06/19/2017

1. That legend in the late 6th century has it that a young goat herder in Ethiopia noticed his flock were more energetic after eating the berries and leaves of an unknown plant. Monks from a nearby monastery discovered that by roasting, grinding and infusing the seeds of this plant in water a unique beverage could be obtained that would help keep them awake during long hours of prayer. Word quickly got around. Coffee cultivation began in the 15th century with arabia’s Yemen province the worlds only source for centuries. During the 18th century the dutch traders and the French started plantations though out their colonies. Later coffee was produced in the west indies, Latin America, Jamaica, India and Brazil.
Source of this information – Sunshine Coast Daily Australia.

2. Coffee facts: a. Crude oil first but Coffee is the next most sort after commodity in the world.
b. The coffee plat originated from a plateau in Ethiopia in a region known as Kaffa.
c. It is estimated that 2.25 billion cups of coffee are consumed each day worldwide
Source – Sunshine coast Daily Australia

3. If you save a dollar and then the following week 2 dollars the next $4 and so on by the end of 52 weeks you will have $1378 in your savings account.

4. To save interest on your mortgage, weekly payments are better than monthly payments. Most interest is compounded daily so if you are making payments more regularly it means the interest being calculated on the loan is for fewer days.

5. A Study from Carnegie Mellon University has shown that happy people are much likely to catch a cold

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Prepaying Your Mortgage?

 

Maybe you have some extra cash to spare and have decided to put it towards your mortgage with the object of reducing your principle.

With the repayment of your mortgage you have decided to pay extra so you can shorten the length of your debt.

There is one problem with this, if you don’t follow-up with your financial institution. They may put that extra money where you do not want it.

  • Verify that prepayments go toward the principal and not interest or escrow.
  • If an error is made call your bank or financial institution immediately.
  • Extra interest accrues if prepayments are not applied correctly.

SOURCE: Howard Clark.com

 

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Saving Tip For Today…9/02/2010

Mortgage Fatigue

Do you need a Mortgage makeover?
If the answer is yes, but there is a lot of paperwork, time and effort required, plus it is such a hassle to complete the application.
Is it worth it? A definite YES.

Mortgage rates are staying put at about 3.5 to 5% which is very good.

  • If you have good credit refinance now.
  • Shop for rates at small Banks and Credit Unions as well as the big banks

Source Clark Howard

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Saving Tip For Today « 8/20/2010

Paying extra payment on Mortgage

Save thousands of dollars by making one extra mortgage payment a year.
Apply that payment to your loans principle and save big time in the long run.

Source: Simply Fantastic: Living Better On Less

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You Walk Away!

Arizona home

I was watching 60 Minutes the other night and watched the story about how many people are walking away from their homes and mortgages because it is no longer of economic benefit to keep their mortgage going.

The home owners who were interviewed were able to keep up their mortgage payments, but because their house had devalued so much it was not economically viable to continue to be invested in their home.

Their home had become a “Worth – Less” investment.
They had been astute enough to do the figures and realise that to continue would be financial suicide. Walking away from your home would not be an easy thing to do, some can’t do it, because of the attachment. Their decision was hard, but calculated.

An example of a young couple who bought their first home and decided to turn their back on it. They bought the house at the price of $262,000 (Real Estate was booming) their house now has been valued at $142,000.

Another couple on retirement, bought their dream home for $400,000, that home is now valued at $85,000. As you can imagine these homeowners have had to make some hard decisions.

One gentlemansaid he loves his home. He can afford to keep it and he is going to, because he loves it and cannot bring himself to walk away. He bought this house for $1.2 million and it is now valued at $850,000. He is truly upside down on this house and the stress shows in his face.

In Arizona 50% of the homes are “Under Water.” In Nevada 65% of homes are “Under Water.” This means their mortgage is higher than the value of the house.

There are 11 million homes in America “Under Water” and that number is expected to double by next year.

The banks appear to be unwilling to negotiate these people’s mortgages and they’re forcing them to rethink the value and purpose of owning and to keep paying the mortgages on their homes.

There is a stigma of allowing a foreclosure to happen to your home and concern about how it will affect your credit rating. This is something these owners and many others are prepared to risk.

There is a company called Youwalkaway.com. This Company will walk you through the process of giving up your home, if that is the decision you have made. The manager was being interviewed and I think If I was making a choice I would want someone to give me a helping hand, to go into an area of business that I am not qualified to handle, to try to avoid too many mistakes.

I think Banks and Politicians are promoting the Stigma situation and immorality of not continuing with your mortgage. I think those establishments have a moral situation of their own.

If you are in trouble with your Mortgage or deciding to walk away from it I think getting advice is a good thing, it will give you peace of mind and help unshackled the emotional burden of the Stigma of what you are about to do.

There has been Companies like Morgan Stanley that walked away from real estate in San Francisco in peak times and I am sure they were not concerned about the Stigma of it. They would have made a financial decision.

The Banks in the last 10 years have made some bad financial decisions at the cost of many home owners, so in my opinion these “Walk Aways” in most cases are based on good financial decision.

Many people in the near future will be looking at the economics of their mortgage on their home, some realising they are paying for a “Lemon.”

On the News this morning it was announced that in the last 10 weeks the USA’s national debt has gone up 300 Billion Dollars America is now fast approaching 13 Trillion dollar debt.

These figure have to make you think. If you have a hard decision to make on a financial basis I think these national figures should help you make up your mind.

Right now is a time to get out of debt.

If you can afford real estate it is the best time to buy but don’t go over your head into debt.

SOURCE; 60 Minutes

SOURCE: You Walk Away

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Did You Know……4/19/2010

Who is responsible for paying off reverse mortgage when the borrower dies?.
The person who inherits the house must pay off the reverse mortgage, which falls due when the borrower dies. For more information go to AARP.org

Greenery is good for our air
Research reveals specific species may rid your home of toxins. One study found that weeping fig and Fatsia japonica help remove formaldehyde gas released from some carpets and curtains.
SOURCE

If You cut TV viewing time in half per day.
Cutting daily television viewing time by half from 5 hours to two and half hours would help the average adult burn 119 more calories – about what it takes to walk one mile.
“If they continued this calorie burn every day, it would amount to about 12 pounds a year,” says lead researcher Jennifer J. Otten, PhD, a postdoctoral research fellow at Stanford University School of Medicine in Palo Alto California.

If you find a way to save $25 a week
You free up $100 a month. Invest it and in 25 years you could have $80,000.

That you can heal burns using spray on skin
Scientists have developed a new technic that allows them to harvest skin cells from a small biopsy and suspend them in a solution. The mixture is sprayed directly on the burn, cells rapidly divide and migrate to cover a wound up to 80 times larger than the donor site.
Technology is already available in Europe, Australia, Canada and China and being tested for FDA approval – you may see it here in less than 5 years. – Lauren Dzubow, University Of Pennsylvania

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