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Using Home Equity as a Piggy Bank

Home Equity as a Piggy Bank?

As mentioned in my previous articles on Debt, historically low interest rates have fueled an unprecedented increase in personal borrowing and household debt. One significant component of this debt is real estate mortgages and debt secured by real estate. To make matters worse, many people make poor decisions regarding the use of equity.

Equity in your home is the difference between its market value and the balance on any mortgage. Once home equity is accumulated, there are several ways to use it to your advantage...

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Buying or Building a House: 5 Important Factors to Consider

Buying and Financing a Home

Financing and the decision to buy or build are both covered in depth in my article “Buying and Financing a Home”. Here are 5 other important factors to consider when buying or building a home:

1. Be Prudent when Choosing a Neighborhood

Buying or building in an established and completed area reduces or eliminates the risk of a future development that may negatively impact the value of your home. If the area is not completed, research to determine what can be expected in future development...

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The Mortgage: Buying and Financing a Home

Balancing House and Money

For most people, buying or building a home is the largest single purchase and investment they will ever make. There are so many issues to be considered and so many decisions to be made. Once you have decided whether to buy or build, careful consideration must be given to location and neighborhood, size, interior layout and exterior design, affordability and, of course, mortgage and financing. Arranging the mortgage and financing is the first concrete step before proceeding with your purchase or building project.

Buy or Build?

Many families prefer to build a new home for a number of reasons...

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