I have been thinking about purchasing a new rental property, but all of the things you have to worry about are too much for me to handle. While people make it seem like it is a breeze, I felt so confused when a friend tried to explain everything to me. The only thing I understand about the entire process is the importance of finding a lender and decent real estate broker.
Tag: Financial economics
Even if you are keen to refinance your home, you may be hesitant to actually lock in an interest rate when rates continue to fluctuate and keep dropping. While it makes perfect and good sense that you would want to obtain the best possible deal, don’t let this good sense turn to bad sense by waiting forever to lock in. Some homeowners are hesitant to commit to an interest rate because they worry that if they’re locked in, a better rate will come along that they could have had if only they had waited. The fact of the matter is, locking the interest rate on a mortgage loan is, and always will be, a gamble. Sometimes you will be lucky and other times you won’t. That said, when you have a locked interest rate, you have the satisfaction of knowing that you are guaranteed this rate, regardless of whether the rates should go up at the time of your closing.
This summer residents of Texas, Florida, and Louisiana were ordered to evacuate their homes because of impending hurricanes, and the news was flooded with images of cars jamming the highways, followed days later by images of damage to homes and businesses. Earlier this year, residents of Northern California evacuated their homes because of wildfires, which inspired similar stories.
No one likes to think of the possibility of being forced out of their home, but the reality is that extreme weather can happen anywhere – witness the several thousand people in Ohio who lost power for the better part of a week because of leftover wind and rain from Hurricane Ike – even that far inland.
If you live in a place likely to be evacuated because of extreme weather, here are some things you should know about evacuation and insurance.