Skip a mortgage payment when you buy a new home
When you buy a new home you can ask you loan officer to close on the 3rd or 4th of the month and tell him you dont want a mortgage payment until the start of the 2nd month. they’ll roll that payment into the closing costs and can tack onto the balance of the loan.
The reason I like to do this is so that i preserve capital. I like to buy homes that cashflow to begin with and the more money i can keep in the bank the better chance i have of withstanding long periods of vacancy or unforseen expenses.
- Manipulation In the Financial Markets In July and August, the USD has actually become stronger against most other currencies, on apparently no news. Gold had also dropped as low as $790/oz from a high of $1030/oz this year, even though there is a shortage of physical gold in the US and the US mint had......
- Average Home Size Increasing According to this article, McMansions gain popularity despite the housing slump, national new home sizes are averaging 2,400 sq ft!Thats a huge increase from about 40 years ago. In the sixties, the average home was about 1100 sq ft with 3 bedrooms and 1 bath.American homes, on average, are nearly......
- Home Owners Getting Shafted With Nightmare Loans Here's a must read article from BusinessWeek on Nightmare Loans. Jennifer and Eric Hinz of Somerset, Wis., are feeling the squeeze. They refinanced out of a 5.25% fixed-rate, 30-year loan in June, 2005, and into an option ARM with a 1% teaser rate from Indymac Bank. The $1,483 payment for......
Related Websites
- Helping Out a Fellow Personal Finance Blogger Understand Her Student Loans I was shocked when I saw the following tweet by Leslie from 27andFrugal fame: It immediately caught my attention because amortization loans shouldn’t be paid forward like this, however, when I let Leslie know that was possibly making a mistake she didn’t believe me! Despite not knowing Leslie I felt......
- Your Home Pays You Back with Reverse Mortgages The follow is a guest post by Tanesha Morgan a writer for Personal Finance Analyst. Personal Finance Analyst is an online community of bloggers dedicated to taking the mystery out of money and helping you to live a happier, more successful life with the money you have. Lately, I have......
- A Simple Way to Feel Wealthy on a Middle Class Income This post is about simple things that a not so rich person can do to feel wealthy. As baby boomers, Mr. and Mrs. ToughMoneyLove have been around the financial block a few times. It started with getting married while I was in law school, living a grad student life without......
[All content is copyright of Living Off Dividends & Passive Income]







Leave a Reply