Credit card debt in America is back to levels prior to the recession. The average credit card APR is just under 16% according to CreditCards.com Weekly Credit Card Report. Continue reading “Lower the Rate – Deduct the Interest”
In the last few years, some people who were unable to sell their homes, rented them instead. The market has improved in most places and the home may easily sell now and possibly, for a higher price. Continue reading “Opportunity Can Disappear”
Becoming debt free is as much a part of the American Dream as owning a home but there certainly can be conflicting circumstances that make the decision to pay off your mortgage early unclear. Continue reading “Pay Off Your Mortgage?”
It’s interesting that the housing climate has changed so quickly. Some buyers, who think they’re still in the driver’s seat, find the market is now going up and they’re losing the home that they really want. Continue reading ““Please take our offer…””
The Mortgage Interest Deduction is available to homeowners for up to $1,000,000 of acquisition debt on the combination of their first and second home. They can also deduct interest on up to an additional $100,000 of Home Equity debt.
Pre-paying your mortgage can save thousands in interest and build equity in your home. As cheap as mortgage rates are currently, they’re higher than you can earn on your savings. If you don’t need the money any time soon, pre-paying the mortgage can be the better investment. Continue reading “Eliminate the Mortgage Insurance”
Taxpayers are allowed to decide each year whether to take the standard deduction or to itemize their deduction when filing their personal income tax returns. Roughly, 75% of households with more than $75,000 income and most homeowners itemize their deductions. Continue reading “Your Deduction…Your Choice”