Rachel Rose, Author - MoneyTips

How Long Should You Live in a House Before Selling?

Rachel Rose — Thu, 16 Jun 2022 20:51:09 +0000

You spent years building up your credit profile and saving a down payment to buy a home. Now that you’ve moved in, you may be thinking about selling to take advantage of a hot market, accept a job in another city or move closer to a friend or family member. But is that a smart...

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A Guide to Inheriting a House With a Sibling

Rachel Rose — Thu, 16 Jun 2022 17:24:41 +0000

Property is a common way to pass wealth to another generation. A parent or relative might leave a house to you and your siblings as an inheritance. It’s a generous legacy, but inheriting property can also be a complicated process – especially when you’re grieving. Inheriting a house with siblings comes with many questions: Who...

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What Is a Curtailment on a Mortgage?

Rachel Rose — Wed, 15 Jun 2022 15:25:38 +0000

If you spend any time around homeowners, you’ll probably hear at least one of them talk about making an extra mortgage (or principal) payment to pay off their mortgage faster. This process is sometimes called mortgage curtailment or a principal reduction (although most people don’t use that term in casual conversation). It’s a common strategy,...

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Mortgage Protection Insurance: What It Is and Why You Might Consider It

Rachel Rose — Wed, 01 Jun 2022 13:55:59 +0000

A home offers safety and stability for your family and is probably one of the most important investments you’ll ever make. However, premature death or major disability could leave your family at risk. If you’re the primary income earner, your unexpected death could leave your family struggling to come up with mortgage payments. While no...

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Right of Redemption: What It Is and How It Might Help Your Foreclosed Property

Rachel Rose — Tue, 31 May 2022 14:22:08 +0000

Second chances are rare. But for homeowners who are either facing foreclosure or have already had their homes seized or sold, they may get a second chance to hold on to their homes. That second chance is the right of redemption. The right of redemption may save your home even after foreclosure. It may even...

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Can You Pay Off Someone Else’s Mortgage?

Rachel Rose — Thu, 19 May 2022 17:52:31 +0000

Can your parents pay off your mortgage? Yes. Can you pay off your parents’ mortgage? Aww … and, yes. In fact, you don’t have to be related to a homeowner to offer the gift of a mortgage payoff or a mortgage payment. You can make a payment on someone else’s mortgage to help them out...

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What Easement Appurtenant Means and How It Works

Rachel Rose — Wed, 18 May 2022 17:09:40 +0000

Are you thinking about buying or selling a property? Before you do, it’s important to figure out who has the right to use the land. It’s not always up to the owner. If there are easements on the property, someone else might have the legal right to use it, and depending on the type of...

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What are the Different Types of Renovation Mortgage Loans?

Rachel Rose — Thu, 12 May 2022 15:35:59 +0000

When you can’t afford a home in the neighborhood of your dreams, a fixer-upper can give you the chance to renovate a home anywhere and turn it into the house of your dreams. And because fixer-uppers likely need repairs, they’re usually easier on the wallet. Yes, it all sounds perfect until you realize how much...

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How To Get an FHA Loan Preapproval

Rachel Rose — Wed, 11 May 2022 20:28:08 +0000

You know you’re ready to become a homeowner. But when you apply for a conventional loan with a bank, credit union or online lender, you’re getting turned down. Maybe it’s because you’re a first-time buyer and your credit score isn’t high enough or you haven’t built up enough of a credit history. Or maybe you’ve...

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How To Get a VA Mortgage Preapproval

Rachel Rose — Wed, 11 May 2022 20:11:41 +0000

To thank veterans for their service, the Department of Veterans Affairs (VA) helps to guarantee VA home loans made by lenders like banks, credit unions and online lenders. When you start shopping for a home with a VA loan, you may find several lenders in your area that offer VA loans. If the program seems...

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What Are Different Types of Real Estate Investments?

Rachel Rose — Tue, 10 May 2022 19:34:19 +0000

Real estate can be a very lucrative investment – and it doesn’t have to be hard. Being a real estate investor doesn’t always require a great deal of financial commitment upfront, and you don’t always have to deal with tenants. Understanding your options to make money in real estate is the first step to exploring...

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Vacant Home Insurance: Do I Need It?

Rachel Rose — Tue, 10 May 2022 16:05:13 +0000

When it comes to standard home insurance policies, the coverage when you’re going away for a few days isn’t the same level of coverage you’ll need if your house is empty for an extended period of time. Whether you’re waiting for your house to sell or looking for the right tenant, a vacant property generally...

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