Home prices are hitting record highs in many parts of the country, often selling for more than the asking price, and going from list to contract in a record 37 days, according to Redfin.
“We’ve never seen a faster or more competitive market,” says Redfin spokeswoman Rachel Musiker. “Basically this market isn’t for the faint of heart.”
Don’t make it even harder (or more expensive) for yourself by making these common mistakes:
Q. We have friends who took classes before they bought their first house and said that the experience made all the difference for them. We’d like to buy a home, too, but feel overwhelmed by the process. Where can we get more information on home-buying classes?
Buying a vehicle can be both a stressful and rewarding experience, especially if you plan on purchasing a used vehicle. Even if you get great financing and find the exact car you want with all the extras, there is still a chance that the car may not be as reliable as you hoped. To avoid any future headaches, and empty bank accounts, be sure to do all of your homework first.
Given the large upfront costs associated with purchasing a home, most young people begin renting an apartment which is the first step in independency. As they build careers, save money, and start families, many choose to buy a home and take that next step to building wealth. Homeownership establishes a stable environment for families; especially children and creates community involvement that reduces crime, blithe, and depreciation. Debt Management Credit Counseling (“DMCC”) offers homebuyer education workshops and one on one counseling for future home buyers.
Every time someone checks your credit report, the inquiry is logged.
That’s important because too many inquiries over an extended period of time can spell trouble for your credit score.
There are different ways and different reasons your credit report might be checked. Some, like hard credit checks—also known as hard inquiries or hard pulls—might have an adverse impact on your credit score. Others, so-called soft checks, are harmless. Too many hard credit checks in a short period of time could knock a few points or more off your credit score. But no matter how many soft credit checks are run against your credit history, they will have no effect.
Everyone knows, budgeting sounds like a bore. But it’s a very necessary step to totally owning your financial situation, and if you have no idea where your money is going every month, you might find yourself over drafting, overspending, and therefore, over-stressing. And who wants to live life like that? If you’re a budgeting beginner, here is where to start in five easy steps.
Debt doesn’t just go away when someone dies.
Most debts get passed on to any surviving family members after someone passes away. If you do nothing to plan for this inevitability, the state in which you live will decide how your estate should be handled.
If creditors and debt collectors are hounding you for money, you may wonder: Can Social Security be garnished? The answer is: It depends on to whom you owe money.
Picking the right money-handling strategy for your family – separate finances, a joint account or something in between? – can make a big difference on how well you function and how well you get along.