Why Is Credit Important?

I often meet people who are happy that they have no open credit accounts. Being out of debt gives great freedom and is something I endorse, but it is still important to have credit available. Here’s why. I got an email on Tuesday telling me of a woman about to be discharged from a hospital […]

The Move Down Trap

People in their 40s, 50s or 60s commonly buy a “trophy house” while they are working and have a family, with the intention of “moving down” when they retire.  This can work fine if the “trophy house” is paid for, along with all other debt, before the buyer stops working.  If not, then the trap […]

Reverse Mortgage Planning

I met a man whom I’ll call George at a networking event last summer.  In 2013, George and his wife Kathy bought a home for $428,000 with 10% down and a $385,389 loan.  In August 2016, George asked me if they could get a reverse mortgage.  George is 64 and Kathy is 62. Their Situation […]

How to Select the Right Mortgage

The ads in the mortgage industry almost always focus on “we will give you the lowest rate.” The advice the government often gives is to shop for the lowest APR. While these approaches have merit, they typically overlook the issue of closing costs and how long it will take to recover the closing costs through […]