Category Archives: Uncategorized

Take the Standard Deduction & the Home

Now that the standard deduction is increased to $12,200 for single taxpayers and $24,400 for married ones, many homeowners are better off with the standard deduction than itemizing their deductions to write off their mortgage interest and property taxes. There … Continue reading

Posted in Uncategorized | Leave a comment

Understanding Reverse Mortgages

Reverse mortgage loans are like traditional mortgages that permits homeowners to borrow money using their home as collateral while retaining title to the property. Reverse mortgage loans don’t require monthly payments. The loan is due and payable when the borrower … Continue reading

Posted in Uncategorized | Leave a comment

Downsizing in 2020

Approximately 52 million or 16% of Americans are age 65 and over. It is easy to understand that some of them are thinking of downsizing their home because they don’t need the same space they did in the past. It … Continue reading

Posted in Uncategorized | Leave a comment

Another Source for a Down Payment

Borrowing from a 401k, 403b or the cash value of life insurance policy is a common financial strategy. While taxpayers are not allowed borrow from either a traditional or Roth IRA, they can withdraw funds before age 59 ½ for … Continue reading

Posted in Uncategorized | Leave a comment

Anticipating the Cost of a Home

The largest expenditure a buyer has when purchasing a home is the down payment which can range from zero for veterans or 3.5%, 5%, 10% and 20%. With mortgages come closing costs which can be another 2-4% and must be … Continue reading

Posted in Uncategorized | Leave a comment

Personal Finance Review

Even if Benjamin Franklin never actually used the expression “a penny saved is a penny earned”, the reality is that it has been a sentiment for frugality for centuries. He did say: “Beware of little expenses; a small leak will … Continue reading

Posted in Uncategorized | Leave a comment

an Investment Perspective on a Home

Looking for an investment that will turn $10,000 into $80,000 in seven years? Sound too good to be true? What if I told you that you could live in it every day during that seven years? Would that sound even … Continue reading

Posted in Uncategorized | Leave a comment