Learning Center - Mortgages, Personal Finance, Home

What Does It Mean To Be Wealthy? (Part 2)

Examining the Wealth Paradigm Shift

In the first portion of our three part series, we discussed how to define your own personal version of what being wealthy truly means. We looked at James and how he lost everything but found his own personal way to live a wealthy life. In this article, we look at how the American idea of wealth is changing before our eyes. Just like after the Great Depression, we may be seeing a return to ideas about saving, investing, and liquidity. (more…)

Housing Market Indicators in this week’s S&P/Case-Shiller Home Prices Index

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The S&P/Case-Shiller home price index figures came out this week. On the whole, the national home price index was up 2.2 percent over the prior month (seasonally adjusted basis) and increased 0.7 percent over the prior year. For the first time since the onset of the recession, home prices in all 20 covered statistical areas increased over the prior month. Additionally, on a year over year basis, 12 of the 20 areas are now above water. (more…)

Is an Allowance Spoiling Your Kids?

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Teaching Personal Finance to Your Little Ones

When it comes to whether or not you should give your child an allowance, parents’ beliefs are all over the spectrum. Some believe an allowance is the only way to teach your child about responsible spending while others claim that an allowance will spoil your child. Who is right? Is an allowance spoiling your kids? (more…)

What Does It Mean To Be Wealthy? (Part 1)

Does Being Wealthy Mean a Big House and a Nice Car?

In this three part series, we will address what it means to be wealthy in today’s world. In years past, wealth was associated with the accumulation of material things such as a large house, several nice cars, a summerhouse, and expensive vacations to Europe, etc. While that is still associated with wealth, it no longer defines wealthy. Freedom from debt and the ability to live life to the fullest define the wealthy of today. (more…)

What Will This Week’s Housing Market Indicators Tell Us?

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Are fence-sitters losing out? Is it finally the right time to become a buyer in the housing market?

In the past week the market digested five housing market indicators – the National Association of Home Builders’ (NAHB) Housing Market Index, the MBA Mortgage Index, the Census Bureau’s Housing Starts and Building Permits, and the National Association of Realtors’ (NAR) Existing Home Sales.  (more…)

Kids and Road Trips- A Sanity Saving Guide for Traveling Parents

Vacations are a prime opportunity for making family memories; unfortunately those memories aren’t always the ones we want to make. Kids have a special talent for taking a scenic drive and turning it into something straight out of a horror movie: fighting over who gets to sit by the window, begging (make that pleading like life depends on it) for over-priced gas station treats, and a never ending chorus of, “Are we there yet?” Road trips with kids can be hard, but they don’t have to be torture. With these sanity saving tips you hit the road with confidence and enjoy your next vacation.  (more…)

Should You Take Out a 30-Year, 20-Year, or a 15-Year Mortgage?

Should You Take Out a 30-Year Mortgage or a 15-Year Mortgage?

When applying for a home loan, one of the primary questions you must answer is whether to choose a 15-year, 20-year,  or a 30-year fixed mortgage. All three options have their merits and flaws, and with interest rates at near historic lows, it is an excellent time to apply for or refinance to a 15 or 30-year mortgage, or even the less common but very sensible 20-year mortgage. Rates are great, but which is the best option? Not surprisingly, it depends on your personal goals and your financial situation. (more…)

What to Expect When You Apply for your First Home Mortgage

The first time you buy a home can be intimidating. You are entering into a new realm of responsibility. For many, it is the transition from young adulthood to full adulthood. There are many aspects of home ownership that make people nervous, but for many first time homebuyers, applying for a loan is the most intimidating. Looking for your first house is fun, but going in front of a loan officer isn’t how most people would choose to spend a Thursday afternoon. (more…)

Deciding Which Home Improvement Projects to Tackle

Is This Project ‘DIY-able’?

We’ve all been bitten by the DIY bug once or twice. You see some home improvement project online, assume it won’t take more than an hour and soon realize that you are in over your head. Tackling projects on your own is a great way to save money and learn new skills, but there are times that you need to leave things to the professionals. Here are some tips for deciding which projects are ‘DIY-able’ and which you need you to call in outside help.  (more…)