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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

[They likely] would feel much more confident that they can keep a significant amount of the proceeds from their departure home and not have to make monthly mortgage payments, provided they continue to pay their taxes and insurance and maintain the home,” said Rob Cooper, National Purchase and Builders Sales Leader for Longbridge. “If

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Mortgage Term Glossary

Assurance Financial

The assessed value of your home is how much it is worth in the eyes of the tax agency in your municipality. The assessed value is used to calculate your property taxes. Balloon Loan. A balloon loan doesn’t fully amortize over the term of the mortgage. Homeowners Insurance. Mortgage Insurance.

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Buying a Second Home – What You Need to Know

PennyMac

The property can even be the perfect retirement destination. People looking to get into the real estate business are the perfect candidates for a second home. Insurance. A second home usually means higher insurance costs for homeowners. If you’re renting, there’s also landlord insurance. Taxes and Fees.

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Understanding Mortgage Payments

Assurance Financial

Repayment: You make monthly payments on the loan , which typically include principal, interest, taxes and insurance. The loan is usually repaid over a period of years. Ownership: Once the loan is fully repaid, you own the property outright. Toward the end of your loan, that proportion will be much lower.

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Does Refinancing Affect Your Taxes?

Assurance Financial

Refinancing could potentially lower your monthly payments , allow you to consolidate debt, speed up the payoff process for your mortgage, eliminate your private mortgage insurance (PMI) and put more cash in your pocket. A home office can be a great, tax-deductible investment, particularly if you are self-employed or a small business owner.

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Buying a Vacation Home: 4 Critical Factors & Expert Advice

PennyMac

An owner's pride for their vacation rental seeps into all layers of the business: if you have it, all the other cards fall into place. Smaller decluttering tasks also fit better with busy lifestyles, so that no matter how little time you have, there will still be time to make progress on your decluttering.