Buying a Home While Yours is for Sale? Here’s What You Should Know

Shopping for a new home when you already have a home can be a nail-biting process, as you work to decide how you’ll time things so that you don’t have to pay two mortgages. Even if you could afford to swing the extra expense for a few months, lenders may be hesitant to loan money […]

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Shorter-Term Mortgages: 3 Benefits to Refinancing

Earlier Payoff, Less Interest and Owning Your Home Sooner Whether it’s paying off our monthly mortgage–or even any monthly bill–many of us are always looking for ways to reduce expenses. As a homeowner, one way to do so is through refinancing your 30-year mortgage. You’ll find taking this action, benefits will follow. But before you […]

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3 Ways You Can Squeeze a Second Home Into Your Budget

Having a second home to vacation in or just get away for a while can be a great investment. However, this isn’t always feasible from a financial standpoint in today’s economy. Fortunately, there are three ways to make a second home more affordable and squeeze it into your budget. 1) Team Up with Friends or […]

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Excessive Loans? When Refinancing Your Home to Free up Cash Makes Sense

To some homeowners, the idea of refinancing their mortgage seems a little daunting. The process is akin to buying your house all over again. Paperwork, credit checks, an appraisal, and closing costs are all aspects of the loan origination process that can complicate the answer to whether refinancing makes sense. For those unfamiliar with the term, refinancing simply […]

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4 Questions to Ask Before You Refinance

Refinancing may sound like a good idea when mortgage rates decrease. It’s a chance to get a better loan and a cheaper rate. Many banks encourage refinancing, but getting a new mortgage doesn’t make sense financially for everyone. So, before you jump on the bandwagon and apply for a new mortgage to replace your existing one, here are […]

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Is It Really Better to Buy a Home When Interest Rates Are Low?

With interest rates still low, many people remain interested in purchasing a home whether it’s their first one or second. The cost of doing so can be affordable and in a recent North Shore Bank/GMAR Home Affordability Report, shoppers in the second quarter could still buy a home with a small monthly payment as compared to late in […]

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Have You Tried to Refinance Lately? HARP Changes Could Help You Qualify

As the housing market continues to rebound, lenders are in a tricky situation. Excessively strict lending laws can cause the market to stagnate, but loosening restrictions too much will result in foreclosures. Consumers and economists often eagerly await news about lending conditions, since it directly impacts the market. One major source of information on lending conditions is the […]

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Increasing Home Value Part 3: Why You Should Consider Paying Off Your Mortgage Early

If you want to make some headway with your personal finances, you may want to make plans to repay your debts. When we talk about debt, most of the time we’re referring to the “bad” kind: student loans with balances greater than your annual salary, or consumer credit card debt. But there’s “good” debt, too. That’s what your […]

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