April 30th, 2009
I have moved many times, and at one point at the end of college/beginning of my career I was averaging one move every 9 months! Needless to say, I have rented quite a few moving trucks and getting good deal is easier than you may think. Last time I moved, I took the following steps to find a moving truck and ended up saving $120 off of a $700 rental (17% off).
There are 4 national moving truck rental companies for those movers who wish to move themselves, U-Haul, Budget, Penske, and Ryder. Of course there might also be local or regional companies in your area for local moves, which I also recommend you consider as they maybe able to make you a better offer than the national chains. Simply follow these steps to get the best deal (continue reading…)
April 24th, 2009
Not long ago, 80/20 mortgages were so commonplace and many home buyers were using them to buy homes with no money down. Today 80/20 are essentially so nonexistent that is does not matter if you have a perfect 850 FICO score, you still will not be able to find an 80/20 mortgage. For better or for worse, these loans are no longer being offer to any type of borrower.
If you are wondering “What is an 80/20 mortgage?” let me explain. An 80/20 mortgage (also called piggyback loans, tandem loans, nothing down mortgage, etc.) is (was) a mortgage for 80% of the (continue reading…)
April 19th, 2009
The idea of diagramming you own personal finance network to show the relationships between your financial accounts is such a great idea. I was inspired by Jim at Bargaineering to create my own financial network map. Being a systems/software engineer by profession, I can’t believe I never though of the idea myself, but I think its a great tool for understanding your own financial accounts. In the past, I’ve often had to do some financial maneuvering to transfer funds between accounts electronically (like when I went away to college and did not have a physical bank located in my city), and this is a great way to see how you can make transfers more efficiently and more.
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April 10th, 2009
When your down payment on a home is less than 20% of the purchase price you must pay private mortgage insurance, which insures the lender in case of the borrowing defaulting on the loan. The borrower pays the insurance premium each month which is included in the monthly mortgage payment.
According to the Mortgage Bankers Association, the PMI is generally about (continue reading…)
