Being debt free doesn?t beat having cash in the bank, one financial adviser argues.
Most homes are bought with mortgage loans, which let you buy property and come with tax-deductible interest. If you’re in the market for a new home, especially if you’re a first-time homebuyer, take some time to learn the ins and outs of mortgage financing so you know what to expect. You’ll also need documentation of liquid assets, cash in the bank, as well as credit history and current income.
LONDON, November 17, 2014 /PRNewswire/ — Study reveals the nation's aspirations before reaching 40 The average person wants to be married, mortgage free, with at least £10,000 in the bank by the time …
Government efforts to loosen access to mortgage credit are unlikely to goad Bank of America Corp to make more home loans to less creditworthy borrowers, the bank's chief executive said on Wednesday. “I don't think there's a big incentive for us to start to try to create more mortgage availability where the customers are susceptible to default,” Moynihan said.