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Showing posts from April, 2019

Is Reverse Mortgage Still a Viable Financial Planning Tool?

Summary: Are you considering taking out a reverse mortgage to plan your finances for your retirement? There have been a few changes in the rules you need to know about. Reverse mortgage has always been considered as an excellent financial planning tool by many home owners who are above 62 years of age. In fact, this is why many reverse mortgage lenders have started getting in touch with prospects directly through reverse mortgage live transfer leads . However, the rules that govern reverse mortgages keep changing every now and then. So considering all such changes, is reverse mortgage still as viable as a financial planning tool, as it was earlier? You can answer these questions if you understand the most recent rule changes. In the light of the recent HECM rules it is getting tougher to open a reverse mortgage before it is needed. The increased initial mortgage insurance premium has raised the up-front costs and the smaller ongoing mortgage insurance premium has delayed the gro...

Home Repair Issues That Need To Be Addressed

Summary: For sure you may want to complete your home improvement project at leisure. But if you are facing any pressing issues with regard to home repairs it is better you address them as early as possible. Home improvements can be done at any time. Finding a contractor should not be an issue with so many of them trying to contact you. But if you are facing any of the following home repair issues it is important that you address them immediately to avoid bigger problems in the future. Damp basement Musty basement could be an indication of mold and mildew. Also, it can stink badly. At times grading the yard can help as it keeps the water from leaking into the basement. But if you want to keep your basement clean and dry at all times, you might have to install gutters and downspout extensions that can channel the rain water away from the foundation. In case this doesn’t work you might have to place drain tile around the footings. Although an expensive job that requires profes...

Top DIY Home Improvement Mistakes to Avoid

Summary: Completing your home improvement project all by yourself might sound motivating and tempting. But it is not always the right step to take. Take a look at the mistakes you need to avoid while remodeling your home. Not every DIY home improvement project ends up successful and cost-efficient. There are many things that can go wrong. However, many people don’t realize this when they choose the DIY option over a contractor who might contact them. Here are a few mistakes you may want to avoid if you have decided to undertake your home improvement project on your own: Mistake #1: Paying too much for the home or choosing the wrong location There are times when you are stung even before starting out a DIY project such as a kitchen remodel. You might have either bought the house too high or selected the wrong neighborhood, without doing much of homework. One of the main things you need to do before buying a house is check out the neighborhood and take a look at the comparable ...

Top 5 Reasons for Mortgage Denial despite Pre-approval

Summary: Wondering why a mortgage might get denied despite being pre-approved? Here are a few reasons that will help you get a clear picture. Understanding these can help you avoid mortgage denial after pre-approval. Getting pre-approved for a mortgage is one of the main steps you need to take before shopping for a home. This will tell you how much you can borrow in order to purchase a home. Many lenders who may contact you might be happy to pre-approve you for mortgage. However, even after getting pre-approved for mortgage, there is no guarantee that you will get the financing. There are many situations when a mortgage might get denied despite being pre-approved. The fault might be with the buyer or the lender who has pre-approved the mortgage. Nevertheless, understanding the common reasons that can lead to the denial of a mortgage can reduce the chances of your mortgage getting denied after being pre-approved. Here are 5 such reasons: Reason #1: Change of Employment Cha...

6 Alternative Funding Solutions for Small Businesses

Summary: Not getting a bank loan should not be the reason to shut down your small business. Go through this article to find some of the alternative funding solutions you can explore. Most small businesses don’t qualify for bank loans, given the strict restrictions for eligibility. Even those that do qualify have to wait a long time before the funds are transferred into their bank account.  However, the good news is that a bank loan is not the only solution to fund your small business needs. There are many alternative funding solutions that can give you some quick cash to keep your business going. Not bound by government regulations, these solutions are available even to startups that find it very difficult to find finance anywhere else. Here are a few alternative funding solutions you can explore if you are a small business on the lookout for funds: Asset-Based Lending If you are looking for funds to buy some assets for your business, this is the best solution you c...