Pages
A home and a margin of safety
Chris Farrell Apr 16, 2012
My boyfriend and I both currently work full-time and are in school. He's working toward an associate degree and I'm working on a master's. When we both finish, in the spring of 2014, we'll be qualified for much better-paying jobs. We're also planning on getting married between now and then and starting a family once one or both of us has found new employment. We weren't planning to buy a home any time soon, but I recently inherited $40,000. My question is, how do you know that you're ready to take the plunge? Leah, Ypsilanti, MI
The benefits of downsizing a home
Chris Farrell Mar 30, 2012
Three years ago -- fresh out of grad school, with new jobs and lots of optimism -- my husband and I bought a beautiful house that we love. Trouble is, we spent too much money. Now, our mortgage consumes nearly all of our monthly income, leaving us very little to save for retirement, our kids' college funds or do the things we love such as traveling. The question, then, is: Should we cut our losses, try to sell and buy something cheaper? Julia, St. Paul, MN
Good and bad signs for the U.S. housing market
Josh Brown Mar 28, 2012
It is one step forward, one step back for the housing market. The mortgage bankers association says this morning applications for home mortgages were up 3.3 percent last week but demand for refinancing dropped for the sixth straight week.
Home renovation and retirement
Chris Farrell Mar 26, 2012
Middle-aged homeowners should think about adding features that make it easy to age in place with any home remodeling project.
The $10,000 home
Jim Burress Feb 24, 2012
Neighborhoods in Atlanta have been devastated as home prices have fallen. How are residents coping with moving from high on the hog to the other side of the tracks?
The accordion family: When kids move home
Tess Vigeland Feb 24, 2012
The number of adults who are moving back in with their parents is on the rise. Author Katherine Newman discusses how families are affected when the kids move back in.
The allure of homeownership
Chris Farrell Feb 13, 2012
My husband and I are both church pastors. We have been married for a year and half and we both work full time. Our gross income is about $84,000 and we tithe 10 percent to our churches and charities, which we will continue to do. We are trying to decide whether or not to purchase a home, and whether we are saving money in the proper places.... Is this a good time to buy a home? What if we needed to sell it in four years? Should we be putting less money into savings and more into the Roth IRA's? Thank you for your help! Emma, Beverly Hills, MI
Do you qualify for help from the foreclosure settlement?
Adriene Hill Feb 10, 2012
The details of the settlement between the states and the banks are still being hashed out. But, if you want to know if you might qualify, we’ve got some information to get you started.
Healing in a new home
Jen Miller Feb 10, 2012
When commentator Jen Miller's love hit the rocks, she did something unusual -- she called a mortgage broker. But she didn't lose her head.
Figuring out student loans and a home
Chris Farrell Feb 9, 2012
I have a dilemma that I hope you can offer some advice on: I am currently in the process of paying off some hefty student loans I accumulated while earning my bachelor's and master's degrees. I pay almost twice the required payment. (Please let me know if you need specific figures.) My husband and I would like to save for the down payment on a home to be purchased within 5 years. Would it be more advantageous for me to continue aggressively paying down the loans (fixed interest rate of 4.25 percent) or save as much as possible to apply to a home to be purchased in the near future? Michelle, Indianapolis, IN
