 Apartment move-out and move-in!!!? |
MOVE-OUT:
Do we really have to ask our apartment manager to walk through with us before we move-out of our apartment? Then, after walking through with us, can we really ask them to make a ... |
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 Moving out tips? What is "Reasonable wear and tear"? |
My partner and i are moving out of our furnished (rented) flat on monday for our new place.
We really need all the deposit money back - what are your tips for leaving the flat in tip-top ... |
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 Do I have to have a down payment to buy a new house? |
| My brother says you can get a house with a very small down payment. I own the family home. Dad gave it to me before he died and I do not want to sell it. The family would be really upset. Its not ... |
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 My landlord wants to sell the apartment I rent.? |
| I live in MA. and pay my rent on time. My landlord wants me to move so he can sell the property. I'm waiting to hear from housing to get an affordable place and currently am unemployed as I was ... |
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 How much would i have to earn to be renting a house for £600 a month? |
| I've found a nice house to rent for £600 a month with my boyfriend. The agency it's with needs proof of income for renters. How much do you think our combined income would have to be a ... |
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 Real Estate Agent claims he undercharged me for sale of house seven months ago, do I have to pay? |
| I purchased a home seven months ago. Yesterday the real estate lawyer's office called me and said a mistake was made on our paperwork and they had undercharged me by $500. Apparently when ... |
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 My Mother left me Her house which is paid off, It's worth at least $400,000.00. I have horrible credit.? |
| I owe $22,000.00 in property taxes. I despratly need help, but I'm not sure what kind of help I'm looking for. I think a private investor, looking for a great return in a short period,(... |
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 Why wont my home sell? |
| My home is in a very active subdivision the longest listing being 2 weeks(excpet mine now on the market 1 month! Average home is selling in 5-6 days! We are at a good market price most home have sold ... |
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 If I apply for a mortgage with my partner, will the bank tell him the details of my credit report? |
| It might not be a good report, although I am taking care of my finances now. Will the bank tell him how much I owe, etc.?... |
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 I think my landlord came in when i wasnt home , i left a light on when i returned it was off , uncool ? |
i feel annoyed would you be ?
Additional Details
yes i made a point of leaving it on , when i got home i checked and the light was still working just off ...... |
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 Are the commercials true that you can get a home loan for like $150,000 and only pay $500 a month? |
| Are they serious about this. How good does your credit have to be? How much money would you have to have put down? Would you need a cosigner if you only have a 5 year credit history?... |
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 Does anyone have experience using LendingTree.com? |
| I'm looking for a mortgage....mid-600 FICO scores, no down payment.... |
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 Buying a house but when to tell landlord? |
| We're in the process of buying a house and everything seems to be going smoothly. We are renting at the moment and our landlord has says we can leave before our contract is up (Feb) as long as ... |
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 Do realtors have to present your bid to the seller even if they think offer is lower than the listing price? |
| If your realtor contacts the listing agent for the seller with a low offer....do they have to present or can they just say they won't present to the seller? I thought legally they were just ... |
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 What things should I look for when looking for a new apartment? |
| I will be moving into an apartment soon. What kinds of questions and situations should I be aware of when apartment hunting?... |
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 How do I find who really owns the house I am renting? |
| Wish to find out who owns the house - not sure if it is the landlord I am paying rent to. Is there a registry where I can check? Is this reliable? That is how quickly is updated? If someone offers ... |
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knowitall | Savings versus Mortgage? |
Would I be wise to use the money in my low interest savings account to pay a large chunk off my high interest mortgage? |
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saorsie
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not sure |
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NONAME
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As long as doing so will not leave you broke, do it. Earning 2% and paying 8% rarely makes sense.
Make sure you have at least a few months of cash reserves for emergencies, then use the rest to pay down your debt.
I'm also assuming you have no high-interest credit card debt, which should be paid off before a tax-deductible mortgage is. |
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ALEGNA
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What makes sense is whatever fits your personal financial position. Technically, no it wouldnt make sense! But if availability to have access of the funds is what makes you sleep better at night, then yes, it would make sense...TO YOU! |
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Steve L
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There is only one answer to this question: YOU MUST PAY OFF YOUR MORTGAGE! In doing so you are effectively "investing" at 8% (I'm assuming there is no penalty for doing this). Ignore all the other advice, those people on the fence or those one or two (I'm sorry!) complete fools who told you to save at 2%. There simply isn't any other better financial option. You must pay off the high intrest debt instead of saving. Hope my clarity of thought helps. |
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andrew.dosdale@btinternet.com
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Contact your mortgage lender and ask them in you can make overpayments and if you can then take the money back out if you need to.
ASK THE LENDER EXACTLY HOW IT WORKS. Some won't let you take the overpayments back out.
For example Northern Rock allows you to pay any amount you want into your mortgage. Whilst that money is showing against your account you pay less interest on your mortgage. But then if you need / want the money back you can just ring up and get the money paid back. So in effect you would be using of mortgage like an offsetting account. |
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dajuan_n_only
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Have you tried, refinancing for a lower rate. At http://www.justgetaloan.net we have been able to get people with all credit backgrounds great low rates and mortgage programs. Also paying down the mortgage will not change the high rate. On top of that if you have money saved it would be better for you to sind a sound investment vehicle like a mutual fund or something of that sort that will have a higher rate of return on the money than just a bank account. Feel free to contact directly at 866 530 7300 ect 7305 or by email at jfreeman@justgetaloan.net |
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troythom
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As with any financial question "it depends". First, I would ALWAYS keep at least 2 months worth of living expenses in a safe place like a savings account. The interest earned will be lousy but at least the money will be there if you need it for an emergency. If you have plenty of cash in a savings account, then I would first max out your contributions to a tax deductible IRA before paying down your mortgage. If you have done that and also funded a well diversified account with stock and bond funds, then and only then would I consider paying down the mortgage.
If the interest rate on the mortgage is "high", then I would also look at refinancing now while the rates are still reasonable. Again, it all depends on the specific details but these are just some general observations. |
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Steve K
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Keep some savings for emergencies but dump the mortgage as fast as you can.
Check out the link - this kind of account may work well for you.
One of the other answers suggests that mortgage interest is tax deductable - THIS IS NOT THE CASE IN BRITAIN, so if you are british that fine answer is no use to you at all. |
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My name's MUD
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YES YES YES!
Pay the bulk of it off you will save £££'s! Keep a small mortgage ongoing as this will make it easier for you to borrow more later, from your lender to move up the property ladder, extend or improve your house.
Have you thought of 'shopping around' for a better mortgage deal? Or shortening your remaining term? This will reduce the overall amount of interest you will pay in any case!
If you have managed to save then you should be able to pay a bigger mortgage! Move to a bigger property!
OR!!! For no risk have you considered investing some of your dough into premium bonds or income bonds???
For tax free prizes!
http://www.nsandi.com/
I make around £600 a year from mine which I pay into my mortgage account!
Check it out you could win BIG from your investment and wipe out your mortgage for good!
The advantage is that if you later fall on hard times you can get your money back without re-mortgaging! |
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catcher
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If the loan sum is high, then keep your small savings for the rainy day. If the loan is a small amount, then you'll be motivated to pay off fast.
Give me a fish, and I'll eat for a day.
Teach me to fish and I'll eat for a life time. |
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James
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Depending on the amount of money in your savings, I would highly advise taking a look at investment property. Paying down your mortgage is good, but putting some of that money down on an investment property and having someone else pay that mortgage is great. Just be sure you leave enough in your savings to cover reserves for the investment property, as well as your own. Feel free to write me with any questions: rxse7n@hotmail.com |
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cvonkrogh
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Short answer: Yes, you would be wise to do that.
Longer answer: Compare the savings rate to the mortgage rate, and keep in mind that it's good to have cash around. For example:
Savings rate = 3%
Best Available Savings rate = 5%
Mortgage rate = 6.5%
Monthly expenses = 2000$
Bank account = 25,000$
Analysis: Note that your mortgage interest is tax deductible, which reduces the effective interest rate. But, you also pay taxes on the savings income. So you do make a higher interest rate by paying off your mortgage. The next question is by how much should you pay? The rule of thumb is to keep around 6 months of expenses, so I would recommend that you keep 12,000$ in your bank, and use the other 13,000$ to pay down your mortgage.
One excellent source for information on credit, interest rates, and personal finance that I have found helpful is Liz Pulliam Weston's articles on MSN Money (url below) |
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Flapjack empire
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No, Id keep saving! |
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