Mortgage calculation

1. Renting never Buying

Why do people say: “renting is dead money” ?

If you rent a house you will have to make regular payments until the day you die. You get nothing in return from your rent payments (apart from the gratitude of your landlord.) Furthermore the cost of renting tends to go up by at least inflation. Therefore, if your rent costs $500 a month, it will continue to increase throughout your life. If you buy a house on a 30 year mortgage, then it means when you retire you will be able to live rent free. Also your mortgage payments will not increase with inflation. (they will vary with interest rates) but in the long run the payment should stay about the same. This means that over time inflation will reduce the real cost of paying a mortgage. If your mortgage is currently $800 it is a big % of income, however, in the future it will be less. Continue reading »

If you thought a bank foreclosure ended the financial miseries associated with your former home, think again. You could soon be hearing from the IRS about taxes due in connection with the residence you no longer own.

You can walk away from the big house payment, but not from the potential tax implications,” says John W. Roth, senior tax analyst at CCH in Riverwoods, Ill. “And if you couldn’t afford the mortgage, you probably can’t afford the taxes.”

As the lending crisis continues to shake out, more homeowners, particularly those who used creative mortgages to buy their houses, could be in this predicament. Even long-time homeowners who refinanced their properties based on increased value when the real estate market was hot could find themselves in tax trouble if they lose their properties to the bank.

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There’s a cliché that tells us that the best things in life are free. Isn’t that comforting to know that the love we open-heartedly give to our family is not just free but it’s priceless. How about the free gifts that we receive from our parents? Aren’t these the most valuable things we have received when we were children? What about the free support your friends sincerely provides you when things in your life do not come out right and you just need that shoulder to cry on? This list of the free things that we receive in our lives goes on. These do not command any cent from your salary and that simply figures why they’re the best things in your life. But do you know what possibly the second best thing that could happen in your life? This would probably be getting an affordable deal in the mortgage of your dream home. The best thing in it is that you can even have a free mortgage rate quote; another perk in life that’s a reason to make you smile. Continue reading »

Living in the lovely country of Spain is a dream come true for many. Spain is fast becoming a hot destination for tourists and people from different parts of the world who want to live in this country. The climate, culture, beauty and standard of living in Spain are some of the reasons why this country attracts so many people from around the world. Continue reading »

For approximately the past two years the mortgage industry has provided personal information to other lenders and partners when a consumer applies for a loan. I know this is shocking. I was just as shocked as you are when I found out. As soon as the ink dries on your mortgage application your information is sold to other lenders. In one or two days your phone starts ringing off the hook with calls from other lenders trying to offer you a better deal. This process is called a “trigger lead.” Continue reading »

This 15,800- square-foot house, described as similar to a Tuscan villa, is on 40 acres near El Dorado Hills.

At $9.2 million, this may be the highest-priced residential real estate listing ever seen in Sacramento.

Folsom agent Fred Wilcox is marketing a nearly completed 15,800-square-foot house on 40 acres off Salmon Falls Road by Folsom Lake near El Dorado Hills.

“I think this is the most expensive ever in the region,” he says. “If you win the lottery, this might be the house you want to buy.”

Among the home’s amenities: 10 bedrooms, 10 baths; a 1,400-square-foot gatehouse with two bedrooms and two baths; and an orchard with 80 fruit trees.

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Mortgage calculation