Leah Kari, Retired Pharmaceutical Representative and Licensed Insurance Agent No matter how orderly we believe our affairs are, most people who have experienced the enormous life upheaval of a spouse passing say they were not as prepared as they thought. Having updated our trust today, I hope to convey the importance of meeting with your…
Tag: Dollars and Sense
Features, September 2024
Dollars and Sense: Guard Your Card!
Leah Kari, Retired Pharmaceutical Representative and Licensed Insurance Agent Your Medicare number is your passport to accessing vital healthcare services. It is required for enrollment into Medicare Supplement Insurance, Medicare Advantage plans, and stand-alone prescription drug plans. Your Medicare number is confidential. Criminals are on the prowl to exploit this information. Safeguard your Medicare number…
Features, November 2022
Dollars and Sense: Will the Stock Market Recover?
Premier Coin Galleries The U.S. stock market is typically positive for midterm election years, though October can be notoriously volatile. By the time you read this article, we’ll have election results and more economic reports to guide us through the rest of the year. “We have to understand this will take time,” says Vanessa N.…
Features, December 2020
Dollars and Sense: What Is the Maximum Loan Amount?
Melanie Sedam A maximum loan amount describes the total amount that an applicant is authorized to borrow. Maximum loan amounts are used for standard loans, credit cards, and line-of-credit accounts. Key Takeaways * A maximum loan amount describes the total sum that one is authorized to borrow on a line of credit, credit card, personal…
Features, November 2020
Dollars & Sense: VA Interest Rate Reduction Refinance Loan
Melanie Sedam If you have an existing VA-backed home loan and you want to reduce your monthly mortgage payments—or make your payments more stable—an Interest Rate Reduction Refinance loan (IRRRL) may be right for you. Refinancing lets you replace your current loan with a new one under different terms. Find out if you are eligible…
Features, October 2020
Dollars and Sense: Refinancing Your Home
The Paseo Financial Group If you are interested in borrowing against your home’s available equity, you have choices. One option would be to refinance and get cash out. Another option would be to take out a home equity line of credit (HELOC). Here are some of the key differences between a cash-out refinance and a…
Features, September 2020
Dollars and Sense: What is a Stated Income Loan?
In the past, stated income mortgages were home loans that did not require income verification or documentation. Lenders just needed a borrower’s stated income—hence the name “stated income” loans. Unfortunately, these risky loan types contributed to the 2008 housing market crash, and banks stopped issuing stated income loans as a result. They prevented banks from…
Features, August 2020
Dollars and Sense: How a Cash-Out Refinance for Home Improvement Works
Looking to make some major home improvements? Have you considered a cash-out refinance on your existing home? Refinancing is a low-interest way to get tax-free cash for remodeling your kitchen, building a pool in the backyard—or anything else you choose to do. Let us look at an example. Say you bought your home for $450,000,…
Features, July 2020
Dollars and Sense: Reverse Mortgage (Part 5)
The Paseo Financial Group Recently, the Consumer Finance Protection Bureau put together a report to examine the reverse mortgage industry. This report concluded that the following groups of seniors were most likely to benefit from obtaining a reverse mortgage: * Those looking to supplement a fixed income in retirement. * Those who need a home…
Features, June 2020
Dollars & Sense: Reverse Mortgages (Part Four)
The Paseo Financial Group There are three major fees that borrowers must pay. Most are similar to those paid on a forward mortgage. These are the upfront fees that you will need to pay: Origination fee paid to the lender. This is government regulated and ranges from a minimum of $2,500 to a maximum of $6,000,…