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401(k) Home Loans — Should You Do It?

iStock The thought using your 401(k) for home loans can be tempting — but it’s not so simple. You don’t want to risk your retirement plans to pay for something right now — even if it’s a house — if you can avoid doing so. If you’re considering using a 401(k) for a down payment, rather …

Should You Retire With a Mortgage?

Digital Vision/Photodisc/Thinkstock Years ago, mortgage-burning parties were somewhat common. Friends would get together, the host would take out her mortgage papers and light them on fire, and all would cheer as they watched the debt turn symbolically into ash. These parties were often held well before retirement age. That was then. Now, an increasing number of Americans are …

Lower Your Property Taxes Now: Here’s How to File a Winning Appeal

Devonyu/iStock One of the most contentious topics among homeowners is property taxes, so it’s pretty likely that it’ll come up at one of this summer’s backyard barbecues, between bites of burgers and your neighbor’s famous potato salad. Yet, for all the complaining, surprisingly few people try to appeal their property tax assessment, even though they …

What Credit Score is Needed to Buy a House?

Courtney Keating/iStock If you’re wondering what credit score is needed to buy a house, it’s important to remember that the minimum score varies from lender to lender. If you have a good credit score, you should be able to get financing without a problem; if it’s bad, you could have a tough time getting a mortgage at …

4 Times It Makes Sense to Pay More (Yes, More) for Your Mortgage

PRImageFactory/iStock When shopping for a mortgage, it’s all too tempting to go for the rock-bottom option—in other words, whatever will keep your monthly payment as low as possible. Yet bargain hunters should beware: Extremely low interest rates or monthly payments may look great at first glance, but they aren’t always the smartest option for every circumstance. Here …

What Is Adult Day Care?

An adult day care center is a facility that provides seniors with a safe and active environment during set business hours, typically on weekdays. Meals, socializing, exercise and assisted living needs are provided by the facility. After business hours, the senior attendees return to their residence. Why Choose One? As alternatives to senior living center, adult …

Should You Refinance Into a Conventional Mortgage?

Jack Hollingsworth/Photodisc/Thinkstock If you signed up for a government-backed mortgage only to realize later there were better deals on the market, there’s great news: You may be able to refinance your mortgage and take out a new loan with a better interest rate—and use that loan to pay down your existing mortgage. However, you’ll need to shop around …

Exercising Your Right of Rescission

Riverlim/iStock If you are refinancing your home, as you go through the loan-signing process, you will be instructed that you have three days to change your mind. This is called the right of rescission, and it is guaranteed by the federal Truth in Lending Act as a consumer protection. The three-day period is meant to …