Protect Yourself: Approach Co-signing With Caution

Co-signing a loan for a family member or a friend can be a kind-hearted gesture, but it involves substantial risks that should not be ignored. Whether it’s for a child’s car loan, a student loan, or a friend’s business venture, it’s important to understand all the possible drawbacks before agreeing to co-sign. To avoid any […]

Home Equity Lines of Credit: Do’s and Don’ts

The Federal Reserve Bank of New York recently published the 2nd quarter Household Debt and Credit Report. For the fifth straight quarter, the report shows an increase in the use of Home Equity Lines of Credit (HELOC). The rise in usage could be the result of consumers feeling more pressure from high inflation and already […]

Student Loan Forbearance Ending

For the past 39 months, student loan borrowers enjoyed a grace period where no principal payments on their loans were required, and interest was not accruing.  Unfortunately for these borrowers, this grace period is coming to an end.  As of September 2023, student loan borrowers will no longer be granted a grace period where principal […]

Significant Changes in Home Mortgage Lending

Are you aware of the recent changes to mortgage fees by the Federal Housing Finance Agency (FHFA)? Effective May 1st, new rules by the FHFA have adjusted fees to favor lower-income and credit-score individuals, while higher-income and credit-score individuals may experience higher fees. The FHFA oversees both Fannie Mae and Freddie Mac, the two organizations […]

Need a Quick Loan at a Competitive Rate?

Access to lending on short notice can be a valuable asset. When we need to borrow money, we often think of traditional lending from a bank. However, one quick source of funds at competitive rates is a margin loan against your investment portfolio. With a margin loan, you put up your personal investment account as […]

Eliminate Private Mortgage Insurance (PMI)

With inflation putting pressure on consumers, steps to relieve the strain and save money are at a premium. Well, good news!  Due to the rapid increase in home values over the last few years, many homeowners now have an opportunity to improve their cash flow by eliminating their Private Mortgage Insurance (PMI). With PMI costing […]

Using Your Home Equity Line of Credit (HELOC)

With home equity values at all-time highs and inflation straining the budgets of everyday Americans, it can be tempting for homeowners to utilize the increase in their home’s value over the past few years in the form of a home equity line of credit (HELOC). While the HELOC can be a great source of financial […]

Does Renting Make Sense in Today’s Market?

Red sign that reads "for rent" hanging from white post in landscaped front yard

Last week we discussed principles to abide by when thinking of purchasing a home. First, a quick review of the key points: Establish a cash reserve for unforeseen expenses. Prioritize your savings. DO NOT exceed 28% of gross income AFTER SAVINGS on your mortgage payment. This week, I want to discuss why renting may be […]

Are You Planning to Purchase a Home?

row of colorful shotgun style houses on tree lined street in afternoon sunlight

In the late Fall of 2021, the 30-year fixed-rate mortgage at below 3% offered cheap financing for borrowers looking to purchase, or refinance, a home. However, while the cheap financing seemed like a blessing, the acceleration in home prices was the devil in disguise. Fast forward just a few months, and we see 30-year fixed-rate […]

Financing a Home is Easier than Ever!

There is nothing more satisfying than making an investment for your future. One of the most important investments you will make in your life is when you buy a house. When purchasing a home, loans rates are typically less expensive if the home is financed under a conventional loan with mortgage brokerage companies like Fannie […]