Finance Globe

U.S. financial and economic topics from several finance writers.

Three of the Best Ways to Stop Foreclosure

From the month of September 2013 to October 2013, foreclosure filings in the United States increased by two percent. This is more common in some states than others, with Florida holding steady at the top with a foreclosure rate of approximately 1 in every 332 housing units.If you are faced with foreclosure, you don’t have to give in just yet. You don’t have to back down from the bank, letting them take your home.Despite the fact...
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Walking Away From a Mortgage

The mortgage crisis has left many homeowners in the difficult position of having a mortgage that’s worth more than the home it’s secured by. Being upside-down in a mortgage is an undesirable situation so much that many homeowners have decided to walk away rather than continuing to pay and receive no equity in return. Strategic default is the term used to describe a situation where homeowners voluntarily walk away from their mortgage, especially one they can...
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Get Your House Ready for Winter

Taking a few simple steps in getting your home ready for winter can amount to saving big bucks on your heating bill. And this is the perfect time of year to do it, before the weather gets really cold and catches you off guard. Save on heating your home.Adjust your thermostat to no more than 68 degrees Fahrenheit for maximum energy-efficiency. If you've been keeping it set much higher and feel uncomfortable with such a big...
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Renting with a Roommate

One of the decisions you'll need to make when you move out on your own is whether to have a roommate. Having a roommate lets you share in the cost of having your own place, and can make an otherwise out-of-reach apartment affordable. Choose the right roommateThe right roommate can be or become a good friend, but not all your friends will make good roommates. Ensure that you and your roommate will be compatible under the...
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Moving Out into Your First Apartment

Moving out on your own is a big step towards independence, and means more freedom and increased responsibility. It's a good idea to begin preparation about a year before you actually do move, so you have a chance to save money for all the expenses related to moving into your own place of residence. Many have moved out on their own with very little advanced preparation, and while it is certainly possible, it's just more difficult...
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Improve Your Home on a Budget

Ready for some changes in your living space, but don't want to spend big bucks? Relatively low-cost, and fairly easy projects can give your home a face lift. Smaller projects are great, because you can choose to do a little at a time, or you can choose to do it all at once, depending on your budget and your available free-time. And, a small project can make a big impact in the overall effect of the...
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Be Careful About Over-Improving Your Home

We spend a lot of money improving our homes, sometimes too much.Home owners just love to make their home-sweet-home a little sweeter. We spend a lot of money, put in some hard work, and then relax and take in the beauty of it all. It can be a never-ending process; often, we don't stop at that one project that originally prompted us to improve our home. One completed project often leads us to see the other...
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The Real Cost of Homeownership

So, you’ve done all your research before buying a home. You’ve checked with mortgage lenders, you’ve improved your credit score, and you’ve paid off other debts. You’ve saved the required down payment and you know how much your house payment will be. You’re on the right track, but don’t forget to consider the additional costs of owning your home. Being aware of, and preparing for all those extras will make owning your home a rewarding experience....
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Financial Preparation for Homebuying

If you’re thinking about buying a home, be sure to prepare for it long in advance; some may want to start working on their financial situation up to a year before home purchase. Improve your credit score.Your credit score will be a large factor in whether or not you can get a traditional loan, what rate of interest you’ll pay, and the minimum down payment required on your mortgage. A big improvement can be made in...
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Buying Your Home

Buying a home is exciting! Many people view homeownership as having security, a stepping-stone to financial freedom. Some of the benefits to consider:Owning a home takes a lot of work, money, and commitment, but the rewards are very enriching. It’s easy to get caught up in the open houses and real estate ads without fully thinking it all through, so be sure that purchasing a home is what’s best for you in your current situation.Owning a...
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