Paying for college has never been more expensive — or more emotionally charged.For grandparents who want to help but are on a fixed income, the desire to contribute can feel at odds with protecting their own retirement. But there’s a little-known, strategic solution that’s helping families across the country fund college without draining savings or […]
1. Contingencies Are Conditions Built Into the Contract Contingencies are specific conditions that must be met for the sale to go through. Common ones include: Financing contingency (you must get approved for your loan) Inspection contingency (the home must pass inspection) Appraisal contingency (the home must appraise for at least the purchase price)These are not
1. Homeowner’s Insurance Protects You From the Unexpected Think of homeowner’s insurance as your home’s shield against life’s curveballs. It typically covers: Fire and smoke damage Theft or vandalism Storm and water damage (within limits) Liability if someone’s injured on your propertyIt also helps cover the cost of repairing or replacing your belongings—and in major events, even
1. Foreclosure Happens When Mortgage Payments Stop Foreclosure is the legal process where a lender reclaims a home after the borrower fails to make payments. It doesn’t happen overnight—there are usually months of missed payments and warning notices before the process begins. If you’re a homeowner falling behind, you still have time to take action
Smart Guide for Seniors: Turning Home Equity Into Income—Without Monthly Payments Want to stay in your home and tap into its value—without monthly mortgage payments? A reverse mortgage can be a powerful financial tool for homeowners age 62 and up. It lets you convert your home’s equity into cash—without giving up ownership or making monthly payments. But
1. The Deed Is the Physical Document That Transfers Ownership A deed is the actual, signed piece of paper that moves ownership from the seller to you.��️ It lists your name (and co-buyers, if any) It includes a legal description of the property It must be recorded with the county or city to be official Think of the deed as your receipt
What Are the Different Types of Homes You Can Buy 1. A Contingency Offer Comes With Built-In Conditions A contingency in a real estate contract says: “We’ll buy this home, if these things happen.” Common contingencies include: Home inspection: Gives you a chance to walk away if the home has major issues Financing: Protects you if your
1. HOAs Help Maintain Standards An HOA exists to protect the look, feel, and value of the community. They enforce rules around landscaping, home color choices, parking, fence height, and more. It might sound strict, but the goal is to keep the neighborhood clean, safe, and appealing. If you like structure and consistency, this can
1. A Home Warranty Covers Systems That Wear Out Over Time Unlike homeowner’s insurance, which covers things like fire or weather damage, a home warranty covers functional items inside your home. That includes: Heating and cooling systems (HVAC) Plumbing and electrical systems Major appliances like your fridge, oven, or dishwasher If one of these breaks
1. Property Taxes Fund Local Services Property taxes are local taxes based on the value of your home and land. They help fund essential public services like: Schools Roads and infrastructure Police and fire departments Parks and librariesEven though you’re paying them, these taxes benefit your entire community—and that’s why they’re required annually. Understanding property taxes is
A Fixed-Rate Mortgage Keeps Your Payments Predictable With a fixed-rate mortgage, your interest rate—and your monthly payment—stay the same for the life of the loan, whether that’s 15, 20, or 30 years. This is ideal if: It’s the “set-it-and-forget-it” option that gives many buyers peace of mind. See what fixed-rate payments look like with our