michael mcglynn: Retirement Funds for Home Purchase - 06/28/16 03:21 AM
For the person who has good credit and income but not enough money for the down payment on a home, their qualified retirement program could offer them some help. The rules are different depending on whether it is a 401(k), a Roth IRA or a traditional IRA.
 
Up to half of the balance of a 401(k) or $50,000, whichever is less, can be borrowed by the owner at any age for any reason without tax or penalty assuming the employer permits it. There can be specific rules for loans from 401ks that would determine the repayment; interest is usually charged but goes … (0 comments)

michael mcglynn: Homeowner Advisory - 02/15/16 08:50 AM
Similar to an annual wellness physical, homeowners should consider an annual review of the financial elements of their home. It’s particularly valuable based on the fact that their home and its equity is generally, one of their largest assets.
 
List of similar properties recently sold and currently available Information on challenging property tax assessment Refinance Analysis to: lower your rate shorten the term make improvements eliminate mortgage insurance remove a person from the loan eliminate credit card debt combine loans take cash out of the equity Equity Accelerator to retire the mortgage within a specific period of time Repairmen and … (0 comments)

michael mcglynn: It's a Big Difference - 02/08/16 03:02 AM
Let’s say that you just won $8,750 on a lottery scratch-off ticket. You’ve decided to be frugal and invest the money and have decided on three alternatives: buying a certificate of deposit, a mutual fund or use the money as a down payment for a $250,000 home.
To compare the three alternatives, let’s look at the equity in each one three years from now.
 
The certificate of deposit can be invested at 1.3% in today’s market and you believe you can reasonably earn 5% on a mutual fund. You expect the home to appreciate at three percent a year.
The certificate of deposit would be … (0 comments)