Welcome to Mortgage Guide
Mortgage Lead Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Mortgage Loa Versus Renting
from: Deb St. George - HomelessInKingCounty.comThere is a big debate these days whether it even pays to take out a mortgage loan or if renting ends up being cheaper. Since most people can’t buy a house outright with cash, and depend on getting a mortgage loa, there are some reasons that might make renting more attractive in the short-term. However, if you are looking for stability, a way to build wealth and a home you can call your own – a mortgage loa is the way to go.
The Benefits of Renting
Renting allows a certain mobility in your lifestyle. You sign a lease for a particular timeframe, and if you have to move you can still leave by paying a penalty. On the other hand, if you own your home, you can’t get out of your mortgage simply by moving. You have to sell the house and that can be a problem if your job takes you to many places. If you are very mobile, it’s difficult to make up the 6% you will have to pay the real estate agent to sell your home.
You do have fewer maintenance issues when you rent. If something breaks, you just call the landlord. A mortgage loa does not cover the monthly expenses of maintenance and they can cost a lot. If your roof needs to be replaced, you will spend in the thousands of dollars. However, if you rent the maintenance and appliances are taken care of by the leasing company.
The Benefits of a Mortgage Loa
While these types of benefits for renting are huge, there can be even bigger rewards for buying. When you rent, all of the money you spend for rent is not tax-deductible and does not serve to build up equity for you. In that sense, rent can be like throwing your money away. If you buy, you can find ways to generate equity and use the interest on the home mortgage loa payments as a tax write-off too. This can put you in a lower tax bracket and easily save you thousands, on top of the thousands you make in equity in a rising market.
There are many different types of mortgage loans out there. You can get an adjustable rate mortgage loa or a fixed rate mortgage. Often, the payments you make on a mortgage can be less than what you would pay for an apartment. However, this all depends on the housing market. Right now, there are some markets where rentals are cheaper than buying, so be sure to check your local market to find out which is best for you.
Mortgage Lead News
Gateway Mortgage Group Enters Omaha, Neb. With Establishment of New Branch - MarketWatch (press release)
Gateway Mortgage Group Enters Omaha, Neb. With Establishment of New Branch MarketWatch (press release) Mortgage industry veteran, Kent Geschwender will lead the newly acquired branch and its staff of eight seasoned loan officers representing more than 120 combined years of lending experience. Geschwender brings more than 25 years experience to his role ... |
FHA Streamline Refinance Expert, Steve Hays, Launches New FHA Refinance Website - PR Web (press release)
 PR Web (press release) | FHA Streamline Refinance Expert, Steve Hays, Launches New FHA Refinance Website PR Web (press release) A struggling homeowner that is experiencing a financial setback can find that a rising mortgage could lead them into bankruptcy or foreclosure. FHA streamline refinance programs have been available to homeowners for decades. An alarming statistic is ... |
HARP Mortgage Leads is Poised to Save the Day - PR Web (press release)
HARP Mortgage Leads is Poised to Save the Day PR Web (press release) Beneficial to both the homeowner and the mortgage professionals actual performing the loans, HARP Mortgage Leads is the premier resource for everything HARP and specializes in the government loan program designed to help these borrowers. |
Fewer new mortgage problems in Maryland, more older ones - Baltimore Sun
 e-wisdom.com | Fewer new mortgage problems in Maryland, more older ones Baltimore Sun That's as of March, the newest figures from the Mortgage Bankers Association. There's an argument brewing over why Maryland has a big backlog of pre-foreclosure and foreclosure cases -- the so-called "shadow inventory" that, odds are, will eventually ... Judicial States Continue to Skew Foreclosure Statistics |
The Facebook effect on San Francisco real estate - CNNMoney
The Facebook effect on San Francisco real estate CNNMoney By Julian Hebron, contributor @CNNMoney May 17, 2012: 1:27 PM ET (StockTwits) -- The Basis Point is a popular mortgage and housing blog that tracks consumer critical issues and data. It is edited by Julian Hebron, a retail mortgage lender who runs the ... |
Analyst: Foreclosure's shrinking shadow over housing - OCRegister
 ABC News | Analyst: Foreclosure's shrinking shadow over housing OCRegister ... an often efficient recycling of distressed properties — lead with shrinking shadows. In judicial states — where courts are involved in the foreclosure process — shadows still loom large. At the end of the first quarter 2012, 11.8% of mortgage ... Report: Fewer US homes foreclosed upon in April Foreclosures reach lowest level since 2007 Florida ranks 3rd in nation for foreclosure filings in April |
7 REITs To Consider For A Highly Volatile Market - Seeking Alpha
7 REITs To Consider For A Highly Volatile Market Seeking Alpha The market share for mortgage REITs could actually grow because of ResCap, if. If banks and others attempt to follow Ally's lead and distances themselves from mortgages or at least refinancing. One possibility is that these companies will sell off a ... |