A Home Buyer’s Guide to Escrow Accounts

If you are in the market for a home loan or a mortgage, it is important to understand what an escrow account is. Many lending institutions require their borrowers to maintain escrows on mortgages, and even those who don’t require it often encourage it. This is because a mortgage escrow reduces the company’s chance of losing their investment in your …

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Using a Roth IRA to Purchase Your First Home

IRS regulations offer a break to first-time home buyers who withdraw funds from a Roth IRA. Typically, income earned in a Roth IRA can only be withdrawn tax free after the account holder has passed the age of 59 1/2. Non-qualified distributions before that age are charged a 10% withdrawal penalty to discourage investors from withdrawing money outside of retirement. …

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How Much To Put Down On a Home

The recent cratering of the real estate market both in the residential and the commercial spheres has dramatically altered how buyers will approach mortgages and home loans at present and for the foreseeable future. The game has changed and the days of no-money-down, “NINJA” mortgages are long gone. Determining the right down payment on a house is more important than …

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The Day of Debt Reckoning Has Arrived

Welcome to Debt Reckoning, home to the chronicles of my personal mission to rid our family of the evils of debt, in all forms. I also hope to insipire others to do the same. Over time, I’ll share updates of our journey to debt freedom, and pass along the things work, and a few that don’t. Along the way, I …

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