Tag: Home Equity
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Multigenerational Homeownership: How the Deed Is Vested
Millions of U.S. households have multiple adult generations. How do they divide up the worth of their home and the upkeep that goes into it? Who pays the mortgage, insurance, and property taxes? What happens if an owner leaves the home, or passes away? A lot comes down to good deed planning. In this discussion…
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Buying a Home While Interest Rates Are Still High? The Case for “Yes”
For too many years, the U.S. housing market has been out of reach for too many people. But giving up might not be an option. Those able to get a foothold in this market often do it to attain a viable financial future. A homeowner’s wealth goes up along with home values. So, owners accumulate…
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What’s Best in Retirement: Owning or Renting?
To transfer the deed or keep the deed? That is the question. And it tends to come up when retirement age approaches. This phase of life often involves downsizing — to lower the household tax, insurance, and maintenance costs. Paying off the home mortgage can net longtime owners enough to unlock some great options. Rent…
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The Big Tease: Look Out for Rising Interest on a Home Equity Line of Credit
Once you get a deed to your own home, you have special wealth-building powers. Pay off the mortgage faithfully month by month, and you own increasing home equity. This is how your home turns into value you can tap when you need or want it. A home equity line of credit (HELOC) gives you an account…
