Refinancing student loan requires careful consideration

Posted by at 12:03 pm

With untapped home equity at an all-time high of $14.4 trillion, homeowners could be poised to start cashing in. One way you can do that is to roll other debt into your mortgage. In 2017, Fannie Mae added the Student Loan Cash-out refinance option. With Fannie Mae adjusting the loan level depending on risk, some borrowers may pay as little as 1 percent of the loan for this arrangement. As of 2018, student debt in the U.S. totals a staggering $1.5 trillion. For many, rolling it into their mortgage seems like a viable option. Also referred to as debt reshuffling, paying one loan with another may seem amazing – after all, you have seemingly made a big chunk of debt “disappear.” But it’s no magic trick. You still owe the money, you’ve just changed the terms. Attaching student debt to...
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October 19th, 2018

Think pickles

Posted by at 9:15 am

How does your garden grow? Well, after the uncommonly warm growing season of 2018, the answer is probably “pretty darn well.” With bountiful backyard harvests coming in faster than families can eat, many home gardeners are making up more farm-to-fork soups, pies and salads than they ever thought possible. But the onslaught continues. As the late season crops come in, this prodigious produce inevitably makes its way to the office, to church and the family reunion. At first, the people in your life may appear to appreciate it, but there’s a limit! Remember, they have their excesses too! Have you considered pickling? Pickling is an old-school, economical method for keeping fruits and vegetables out of the compost bin. The basic process is simple. First, add slices of fruits and/or vegetables to sterilized jars. Pretty much everything that grows can be...
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October 17th, 2018

Itemize cut down to size

Posted by at 9:36 am

It’s hard to believe, but it’s almost 2019. Time to start thinking about your 2018 tax return in the first year of the Trump-Republican tax reform. Whether the changes help or hurt you, there’s one thing that seems nearly certain – a lot fewer filers are going to be itemizing. The standard deduction has nearly doubled, from $6,350 to $12,000 for single filers and from $12,700 to $24,000 for married filers filing jointly. Theoretically, far more taxpayers will be discouraged from itemizing, leaving a lot fewer deductions for IRS workers to verify. Even with the lower standard deduction, only about 30 percent took the time to itemize last year. With the big increases, it could go down to single digits. But the increased standard deductions aren’t the only reason taxpayers might skip itemization. Many deductions have been reduced or eliminated...
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October 4th, 2018

Millennials moving out from the middle

Posted by at 9:32 am

Cities across America are facing similar infrastructure problems – a lack of housing suitable for middle-income residents. Starter homes within city limits are increasingly hard to find, forcing new workers to move further and further into the periphery. An appropriately balanced housing stock helps cities retain college graduates and other skilled workers. For most of the last decade, young adults have often been targeted as the reason for slowing home sales, supposedly shunning suburbia in favor of rentals in hip urban neighborhoods. But the number of Millennials buying homes in urban areas is declining – dropping from 21 to 17 percent in recent years. Millennials now make up the largest share of suburban buyers, according to the National Association of Realtors (NAR), and the rising prices are only pushing their search further out. Their younger counterparts in Generation Z are...
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