The holidays can put a dent in your savings especially if you're planning to buy a home, but there are several ways to cut costs so your finances aren't in the red by New Year's Day. Consider the following money saving tips:
Yes, you may feel a bit like a bit of a scrooge, but by keeping things low key, those friends and family might be thrilled to join in your summer cookout at your new home in 2019.
Although we'd like to believe the holidays bring out peace on earth and good will for all, the weeks between Thanksgiving and New Year's Day tend to be a prime season for criminals. During this busy time of year, you can take some easy precautions to prevent becoming a victim of theft. Consider the following safety tips:
When holiday shopping this week:
During the holidays, many people can become distracted then vulnerable to theft. These easy steps can protect yourself and your home from potential crime and ensure you have a safe and happy holiday season. Happy Thanksgiving!!
Since the election,
the average mortgage rates have increased. The nine-week rise came to a sudden end today
with rates decreasing during the first week of 2017. The average mortgage rate
for the 30-year note dropped by 12 basis points to 4.20 percent. Rates for the
15-year notes decreased from 3.55 to 3.44 percent. It is still higher than
prior to the election, but a new trend always starts with a first day.
This drop is good news
for last minute refinancers or purchasers seeking a mortgage. If restructuring
your mortgage is rate sensitive, it is likely time to take action since most
experts expect rates to continually climb throughout the year, despite the
Compared with rates in
previous decades, current rates are low for mortgage borrowers. This is set to
change, though, with rates having the potential for a rise to 5%+ during the
coming year. It means that homebuyers, especially first-time buyers, should
attempt to purchase sooner rather than later, or face decreased home price qualifications
in the future.
If you're interested in
refinancing or making the dream of homeownership a reality,
visit www.NewThresholdMortgage.com for more information and achieve your next step.
Did You Know?
Making one extra mortgage payment a year will knock 5 - 7 years off
your mortgage and save you thousands of dollars.
Click here to learn
If you do an internet search for "bi-weekly mortgage", you
will be overwhelmed by the number of companies offering "Bi-weekly Mortgage
Reduction Services" or "Bi-weekly Savings Programs." Beware, you are entering expensive
These companies are charging you fees to basically mail a payment
for you. The enticement is that they will
save you an impressive amount of money on your mortgage and reduce the number of
years you pay on your mortgage. And they will! There is no false advertising. The problem is you don't need to pay them to get those savings because I am about to tell you exactly how to do it yourself!
The real story is that they are not actually making bi-weekly payments
on your mortgage. They are making bi-weekly deductions from your
bank account. These funds are placed into an account from which your monthly
mortgage payment is made (which only takes 24 deductions - but during the course
of a year 26 deductions will be made from your account). With the extra 2
deductions, the "Service" makes one additional mortgage payment. In other words
rather than making 12 mortgage payments, 13 payments are made.
The enticement is that they are providing a special service to you
that would either not be possible for you to get on your own or that you won't
have the time or discipline to make it happen.
The real story is that you do have the discipline and can easily make an additional mortgage
payment each year. An easy way to do this - with no payment shock - is to deduct your mortgage payment
automatically from your account each month with an additional 1/12 of your mortgage payment applied to the principal amount each month.
New Monthly Payment = (Monthly Payment + (Monthly Payment/12) .
At the end of 12 months, you will
have made an additional mortgage payment and you won't have to pay any fees to a
"Service". Now that just makes cents!