August 28th, 2014

Three ways to uncramp your style

Posted by at 11:17 am

When your space doesn’t seem quite as spacious anymore, it might be time to challenge members of the household to attack a particularly overloaded storage area, and turn it into something less unsightly – like a special room. Creative re-purposing projects are some of the best motivators for overall inventory reduction. It’s very helpful to have a design in mind when starting the project to get an idea of the end result. It’s also best to set a time frame. Don’t try to get it all done at once, or discouragement may derail the whole effort. But don’t put it off forever, either. A half-finished project is almost as bad as no project at all. Here are just a few ideas. A man’s cave is his castle Tired of the seemingly endless expanse of conspicuous consumerism jamming the garage? Well,...
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August 19th, 2014

Making sure your house is home

Posted by at 5:42 pm

Remember, a house isn’t something you should have to get used to. It’s a home – the place you’re going to spend a large portion of your time. Before jumping into a new home mortgage, take more than a passing glance at your future goals, no matter how distant they might seem. You can always move if things don’t work out in a particular home, but isn’t it easier to answer as many questions as possible first? For instance, is marriage – or family completely out of the question? Single folks who purchase a home in early adulthood can find they need something very different after tying the knot. Don’t take a bath on your first choice While perfectly acceptable for a single person, a one-bathroom home can be a source of significant conflict when the other half moves in...
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August 14th, 2014

HUD: A couple of new rules should help couples with reverse mortgages

Posted by at 7:25 pm

For the millions who married someone a few years their junior, new HUD reverse mortgage rules kicking in August 4th should produce a little extra peace of mind. In 1989, the federally-insured FHA Home Equity Conversion Mortgage was born, allowing people over the age of 62 to convert part of their hard-earned home equity into tax-free cash. In the past, an older spouse might take out the loan without putting his or her younger spouse on the application, as all HECM borrowers had to be over the age of 62. The backlash: When the older spouse died, sometimes the younger person couldn’t pay off the loan, and faced foreclosure. One new rule assures that when one spouse takes out a reverse mortgage and dies, the survivor can continue living in the home without fear of foreclosure as long as she...
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