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The Money Side of Real Estate
The Money Side of Real Estate
Sometimes refinancing is not about getting a lower interest rate. Sometimes it is about solving a bigger problem. In this real-world example, a homeowner had a mortgage balance of about $285,000 at 3.60%. Because of a divorce, the homeowner needed…
Real estate investors sometimes get into a property using expensive short-term financing because they need to close quickly. Real estate investors sometimes use expensive short-term financing to purchase a property quickly. That can be a good strategy to get the…
Many buyers are waiting for lower mortgage rates. That sounds logical, but there is another side to the decision. If rates drop, more buyers may enter the market. That can increase competition for good homes. A buyer today may face…
If you already have a low-rate first mortgage, replacing the whole loan may not make sense. That is where a HELOC can become interesting. Imagine you owe $250,000 at 4%, but you need another $75,000. Instead of refinancing the entire…
Having a 3% mortgage feels like something you should never touch. But sometimes life changes. Maybe you need to remove someone from the loan after a divorce. Maybe you need cash for debt, renovations, or another property. The mistake is…
