Monthly Archives: March 2018

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earnest money deposit

Everything You Need to Know about the Earnest Money Deposit

Earnest money is mostly used in real estate transactions. It is a key part of a home buying process, ensuring the seller about the buyer’s commitment to the proposal and providing the latter some time to seek financing and collect the down payment. Both parties jointly hold the deposit in a trust or escrow account. Read More →

joint mortgage filing

Who Gets the Ownership for a Joint Mortgage Filing?

It is not unusual for a couple to file for a mortgage loan jointly. Many couples want a 50/50 split, indicating an equal ownership of the property. Does having your name on the mortgage means you get the ownership? Is it even a good financial decision to put both names on the loan? Read More →

buying or building a house

Buying or Building a House? The Pros and Cons

Being the owner of a house is a major part of the American Dream. But, many people get the dilemma of whether to buy or build a home when they finally gather the money and decide to settle in. There are lots of factors to consider before going for house hunting because it’s a huge financial decision. Unless you are rolling in money, you probably want to consider the perks and downsides of both options. Read More →

veterans

Home Buying: The Financial Grants Available for Veterans

Many would-be homebuyers remain sidelined for years because they cannot save up the down payment. In that case, buying a home is more difficult for the veterans, who often struggle not only with the down payment but also mortgage installments. The good news is there are many organizations – ranging from the Veterans Administration to numerous private corporations – that provide financial support including finding a suitable property to covering everything until closing. Read More →

capital gains tax

Busting the Myths about the Capital Gains Tax

The capital gains tax is a dilemma for the real estate sellers. Many people invest in the housing market in the hope of walking away with a profit on a home sale. However, the tax can mar the excitement of having a high amount of return on investment. Read More →

capital gains tax

The Capital Gains Tax Amount on Real Estate

The capital gains tax (CGT) is a government fee imposed on the profit (capital gains) made from the sale of a personal property, which could be a house or share stocks. The capital loss denotes the opposite concept, referring to the money you lose because of selling something at less than the buying price. Read More →

disability program

Financial Assistance for Disabled People for Buying a Home

People can buy a home with disability benefits. But, it becomes difficult to collect the down payment, pay the monthly mortgage installations, and not to violate the restrictions imposed by the Social Security Disability Insurance (SSDI) or a Supplemental Security Income (SSI). Read More →

disability benefits

Can You Buy a House on Disability Benefits?

The prospect of buying a home is slim when you are disabled and living on either a Social Security Disability Insurance (SSDI) or a Supplemental Security Income (SSI) benefit. There’s no legal obligation in using the disability benefits on a home purchase. However, people living on SSDI or SSI benefits should be careful because buying a property could bring some extra hurdles, affecting their benefits in the future. Read More →

neighborhood

How to Make Friends in a New Neighborhood

Getting yourself familiar with a new neighborhood is tough and it is probably tougher to get to know the new neighbors. Relocating to a new city is nerve-wracking since you have to start over there from scratch. Meeting new people and making a friendly relationship with them is also intimidating. Read More →