Before you apply for any kind of financing, it’s important to understand how loans work so you know which type is best for your situation. Here are some common questions and answers about loans.
How much of your monthly mortgage payment is tax deductible? The short answer is more than you might think, but not as much as you might hope. Depending on how your mortgage is set up, your monthly payment likely includes principal, interest, taxes, and insurance, also known by the acronym PITI. Let’s take a look […]
When people go through a financial crisis, sometimes bankruptcy is the best or only solution. For example, when someone has insurmountable debts, often due to one-time events such as divorce, catastrophic illness, or business failure, bankruptcy may be the best way to overcome debt that person has no way of ever paying back. By “bankruptcy,” […]
Although the year is winding down, there’s still time to maximize your 2013 refund. Here are 10 tips for saving more on your taxes before December 31: 10. Drain your Flexible Spending Account (FSA). If you still have money left in your FSA, don’t let it go to waste. Check with your employer to verify […]
For years, it seemed mortgage interest rates did nothing but inch downwards. Every time we thought the rates couldn’t go any lower, they proved us wrong. They’re finally headed back up – and not by inches, either. Mortgage rates on 30-year fixed loans have moved up sharply in the last month. If you’re in the […]