30 Jul 2025
By Mark Feder

How to Remove PMI Without Refinancing

Personal Finance
Private mortgage insurance, or PMI, is often required when a homebuyer makes a down payment of less than twenty percent. While PMI helps lenders reduce risk, it adds extra cost to your monthly mortgage payment. The good news is that you may be able to remove PMI without refinancing your loan. Understanding the options available can help you save money and accelerate building equity in your home. Understand When PMI Can Be RemovedFederal law, specifically the Homeowners Protection Act, requires lenders to automatically cancel PMI once your loan balance reaches eighty percent of the original home value. You can also…
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16 Apr 2025
By Mark Feder

The Facts and Fictions of Reverse Mortgages

Mortagage Tips
A reverse mortgage can be a powerful financial tool for homeowners aged 62 and older, providing access to home equity without the burden of monthly mortgage payments. If you're considering this option, here’s a step-by-step guide to help you navigate the process. Steps to Secure a Reverse Mortgage Meet with a Reverse Mortgage SpecialistBefore moving forward, consult with a professional to discuss your financial goals and determine if a reverse mortgage aligns with your needs. A specialist can explain the benefits, risks, and available options to ensure you make an informed decision. Complete HUD-Approved CounselingA mandatory counseling session with a…
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26 Feb 2025
By Mark Feder

Creative Ways to Use Home Equity Loans for Investment

Investment Properties
For homeowners looking to build wealth, a home equity loan can be a powerful financial tool. With the equity in your home, you can access funds at relatively low interest rates and put that money to work in smart, strategic ways. If you’re wondering how to leverage your home’s value for investment, here are some creative options to consider. 1. Real Estate Investments One of the most popular ways to use a home equity loan is to invest in additional real estate. Whether you're purchasing a rental property, flipping a home, or buying land for development, using your home’s equity…
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31 Jan 2025
By Mark Feder

Should You Use Home Equity to Pay for College?

Mortgage
Higher education can be one of the most significant financial investments you'll make, second only to purchasing a home. While federal loans are a common method for covering college costs, using your home’s equity is another option to consider. Before making a decision, it’s important to understand the pros and cons of tapping into your home equity to pay for college. The Financial Cost of College Just as most buyers need a mortgage to finance a home, many families rely on loans to fund college expenses. The average net price of college, which accounts for tuition, room, and board after…
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