Key Takeaways An enhanced life estate deed transfers ownership of property after the owner’s death without the necessity for probate. The owner retains control of the property after the deed is in place and during their lifetime, unlike with standard life estate deeds. Enhanced life estate deeds were recognized by only five states as of … Read more
Average 30- and 15-year mortgage rates climbed back toward their recent peaks, the latest in a series of up-and-down swings. The average on a conventional 30-year fixed mortgage rose to 5.92% from 5.77% the previous business day. Last month it reached 6.19%, its highest point since at least 2019, and likely much farther back. (Our … Read more
If you’re like most people, you’ll need to take out a mortgage to buy a home. According to the US Census Bureau, 94% of people who bought a home in 2021 purchased it with a mortgage. When you start shopping for a mortgage, it’s easy to get overwhelmed. There are lots of different types of … Read more
That’s the last time (before now) the S&P 500 had fallen five weeks in a row, showing why the stock market’s recent deterioration is so hard to take. The nearly 11-year stretch without such losing streaks was the longest in the history of the index going back to 1928, according to analysts at Deutsche Bank, … Read more
Starter home Forever home Definition A home you plan to own for a short period before buying another one The only home you plan to buy Home features May have drawbacks in size, location, or other features Must meet both current and future needs Cost Typically cheaper Typically more expensive Mortgage May prefer an ARM … Read more
Whole life insurance is a type of permanent coverage that’s offered in a range of “styles” to suit different needs. Since permanent coverage, including whole life, is more expensive than temporary or “term” coverage, many of the different types of whole life insurance have evolved to help owners manage the cost of premiums. But other … Read more
One of the biggest investments you will ever make is your home. In the event of an unexpected loss, you need a homeowner’s insurance company you can depend on to restore your home and its contents to their previous condition. One company that deserves consideration for your homeowner’s insurance needs is Shelter Insurance. Shelter Insurance … Read more
Key Takeaways An insurance declaration page sums up what is in an insurance policy. It comes at the start of policy paperwork and contains information such as your deductible, coverage, discounts, and more. You should check your dec page for errors as soon as you get it. Errors may make it hard to file a … Read more
Definition and Examples of Amortization Amortization is the way loan payments are applied to certain types of loans. Typically, the monthly payment remains the same, and it’s divided among interest costs (what your lender gets paid for the loan), reducing your loan balance (also known as “paying off the principal loan”), and other expenses like … Read more
Early Withdrawal Penalties at Major Banks bank One-year CD penalty Five-year CD penalty Ally 60 days of interest 150 days of interest Bank of America 90 days of interest 365 days of interest Capital one Three months of interest Six months of interest Chase 180 days of interest 365 days of interest Discover six months … Read more