Personal Finance Archives

14 Jun 2019

Five Things to Do With a Windfall Other Than Spend it Right Away

Personal Finance

Perhaps you have won the lottery, received an inheritance, or cashed in one of your investments, and now you have a large sum of money you don't know what to do with. Although it is tempting to cruise around town in a brand new sports car it is important to think carefully about how to spend your newfound cash. To give you some ideas on the smartest way to use your new wealth, here are five things to do with a windfall other than spend it right away: 1. Erase Your Debt Your new found money will allow you to…

14 Oct 2015

By Mark Feder

How Much Should You Budget for Closing Costs? Let’s Take a Look

Home Mortgage Tips, Home Seller Tips, Personal Finance

If you're in the market for a new home, you're probably trying to budget for all of the expenses that come with a home purchase. After all, the asking price isn't necessarily the entire amount that you'll pay - there are other expenses that will factor in to the final price. One such expense is your closing costs. Closing costs are the miscellaneous fees you'll pay when you sign the deal to buy your home. But how much do you need to save up for closing costs? Here's what you need to know. The General Guideline for What to Expect…

05 Aug 2015

By Mark Feder

The Down Payment: Four Great Reasons To Make The Largest Down Payment You Can Afford

Home Mortgage Tips, Personal Finance

If you’re looking for a new home, you’ve probably heard lots of advice about down payments. About how it’s okay to just have a five percent down payment – you’ll still get approved. About how you should make the down payment as small as possible to avoid cash flow problems. In truth, you’re actually better off making the largest down payment you can possibly afford. Even if you have to slice up other areas of your budget, save for a few more years before you buy, or take a second job on the weekends, it’ll be worth it in the…

12 Nov 2013

By Mark Feder

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5 Reasons You Might Need To Consider Non-Traditional Financing

Personal Finance

Private Money financing refers to loans collateralized by real estate, where the source of the funds used to close Real Estate transactions come from private investors. The decision by the investors to make a loan is based primarily upon plenty of equity in the real property securing the loan thus reducing the risk of loss. The ability to repay, and the borrower's character is also considered along with how the borrower will pay the investor back in time. Private Money loans are needed when a borrower or a property falls outside the standard underwriting rules of conventional lending sources like banks…