01 Sep 2020
By 24hr Mortgage

The Top 3 Reasons To Invest In A Reverse Mortgage

Mortgage, ,
For seniors who have equity built up in their home, they might have heard about something called a reverse mortgage. There are plenty of TV commercials for reverse mortgages; however, there is still a lot of confusion regarding what they are. Simply put, many seniors have already paid off their homes completely. With a reverse mortgage, people can access the equity they have in their home and use this as a quick source of cash. Then, they can pay back this loan when they can without giving up ownership of their home. Who should use this tool? There are a…
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31 Aug 2020
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – August 31, 2020

Financial Reports, ,
Last week’s economic news included readings from Case-Shiller Home Price Indices, along with data on new and pending home sales. Weekly readings on mortgage rates and new and continuing jobless claims were also published. Case-Shiller: Home Price GrowthHolds Steady in June National home prices grew at a seasonally-adjusted annual pace of 4.30 percent in June, which was unchanged from May’s year-over-year growth rate for home prices. The 20-City Home Price Index rose by 3.50 percent year-over-year in June.   Phoenix, Arizona reported the leading year-over-year home price growth rate of 9.00 percent. Seattle, Washington held second place with a year-over-year…
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28 Aug 2020
By 24hr Mortgage

Condo Damage Caused By Contractors Hired By The HOA: Who Pays?

Mortgage Tips, ,
For those who live in a condo, they know that there are numerous advantages that come with this living arrangement. Living in a condo means that other people are going to be responsible for landscaping and common areas while homeowners are still able to build equity in the home. At the same time, the HOA has quite a bit of power and one of the biggest concerns that people might have involves who pays for the damage in the event that something in the building has been damaged. There are a few important points to keep in mind. Roof Replacement…
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27 Aug 2020
By 24hr Mortgage

Refi or Wait? How to Choose Between Refinancing Your Mortgage Now or Waiting Until You Need the Money

Home Mortgage Tips, ,
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit. However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage. Using Equity From Your Refinance One factor to consider when debating between refinancing now and waiting relates to…
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26 Aug 2020
By 24hr Mortgage

Case-Shiller: June Home Prices Rise as Affordability Crisis Grows

Financial Reports, ,
According to the National Case-Shiller Home Price Index for June, U.S. home prices rose 4.30 percent year-over-year, which was unchanged from May’s year-over-year home price growth rate. Home prices are expected to continue growing through 2020 as businesses reopen and COVID-19 restrictions ease. Case-Shiller’s 20-City Home Price Index for May showed Phoenix, Arizona held the top spot with 9.00 percent year-over-year growth; Seattle, Washington followed with 650 percent growth in home prices. Tampa, Florida maintained its third-place position with 5.90 percent year-over-year home price growth. Five of 19 cities reporting in the 20-City Index showed a higher rate of home…
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25 Aug 2020
By 24hr Mortgage

From Big to Small: How to Downsize from a Large House to a Smaller, More Efficient Home

Mortgage Tips, ,
If you're moving from a large home into a smaller house or condo, you're probably looking forward to enjoying a lower utility bill and not having to do as much cleaning. But before you move, you'll want to take certain precautions to ensure that you're not overwhelmed. A smaller home won't have as much room for your belongings, which means you may need to get creative. Here's how you can downsize without losing your mind. Decide What You're Going To Keep Before you do anything else, choose which of your belongings are coming with you. Unless you've habitually been getting…
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