Home loan – Gaoodgle http://gaoodgle.com/ Tue, 10 Aug 2021 21:13:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gaoodgle.com/wp-content/uploads/2021/06/cropped-icon-32x32.png Home loan – Gaoodgle http://gaoodgle.com/ 32 32 SBA approves 11 home loans in McLean County following June floods https://gaoodgle.com/sba-approves-11-home-loans-in-mclean-county-following-june-floods/ https://gaoodgle.com/sba-approves-11-home-loans-in-mclean-county-following-june-floods/#respond Tue, 10 Aug 2021 19:59:00 +0000 https://gaoodgle.com/sba-approves-11-home-loans-in-mclean-county-following-june-floods/

The U.S. Small Business Administration (SBA) said it received more than 50 loan applications from McLean County residents and business owners who suffered flood damage in storms in late June. So far, less than a dozen have been approved.

The SBA has granted $ 427,200 in low-interest long-term loans to 11 homeowners in the county through August 9. This represents almost $ 39,000 per loan. The SBA received 47 mortgage applications.

The SBA has yet to approve commercial loans. She received four applications for business loans.

Janel Finley, public affairs specialist in the SBA’s Office of Disaster Assistance, said some of the loan applications were still under review, but it was not known how many.

The deadline to request compensation for physical damage is September 24. Homeowners and business owners have until April 26, 2022 to apply for loans to cover economic losses.

SBA staff organized a disaster outreach lending center from July 28 through August. 7 at the McBarnes Building in downtown Bloomington to help people with the application process. Loan applications are available on the SBA’s website and at a toll-free number for assistance (800-658-2955).

The McLean County Emergency Management Agency (EMA) estimated that flooding in late June damaged more than 2,000 homes and businesses in the county. This prompted the Pritzker administration to seek a declaration of disaster for the county to get financial aid.

An SBA statement requires that at least 25 homes or businesses in a county have uninsured losses greater than 40%.

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What it’s like to buy and sell homes in a hot market during a pandemic https://gaoodgle.com/what-its-like-to-buy-and-sell-homes-in-a-hot-market-during-a-pandemic/ https://gaoodgle.com/what-its-like-to-buy-and-sell-homes-in-a-hot-market-during-a-pandemic/#respond Mon, 09 Aug 2021 15:42:00 +0000 https://gaoodgle.com/what-its-like-to-buy-and-sell-homes-in-a-hot-market-during-a-pandemic/

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If you’re a homeowner with too much debt, a financial product called a home equity loan can help you escape it.

While taking out a home equity loan can be risky – after all, your home is being used as collateral for the loan – the rates on the product are generally lower than on credit cards or personal loans.

“As long as you have a stable source of income and know you’ll be able to repay the loan on a timely basis, the lower fixed rates of a home equity loan make it a smart choice,” says Richard Ortoli , co-founder. of the New York law firm Ortoli Rosenstadt LLP. “However, making all of your payments on time is crucial to keep your home from being in jeopardy.”

Here is how you can determine if a home equity loan is the right choice for debt consolidation.

What is a home equity loan

Often thought of as a second mortgage, “a home equity loan is a flexible loan on your home that is usually on top of your existing mortgage,” says Alex Klingelhoeffer, wealth advisor at a national consulting firm, Exencial Wealth Advisors. Here is a hypothetical example provided by Klingelhoeffer:

  • House purchased $ 250,000 in 2015
  • $ 50,000 down payment.
  • Five years later, in 2020, the house is now valued at $ 350,000.
  • $ 180,000 mortgage balance
  • In 2020, in this example, fairness in property is now $ 170,000.
  • “The banks will allow you to borrow money against this value [the equity] via a home equity loan or home equity line of credit (HELOC), ”says Klingelhoeffer.

Home equity loans and HELOCs use the equity in your home to allow you to borrow money. However, HELOCs work more like credit cards. While home equity loans allow borrowers to withdraw a lump sum and then repay the loan through fixed payments at a fixed interest rate. HELOCs have variable interest rates with payments that are not fixed.

Since you are using your home as collateral for the loan, the interest rates on home equity loans are generally lower than on other types of financing, especially credit cards. However, failure to pay the fixed monthly payments on time can cause the lender to put a lien on your home and possibly go into foreclosure.

Can I use a home equity loan to consolidate debt?

Home equity loan borrowers can withdraw a lump sum and use it as they see fit. Home equity loans can be a great way to get cash up front to pay off high interest bills in one fixed payment.

The interest rates for home equity loans are generally lower than those for many high interest loans, such as credit cards. If you want to save on the difference in rates, a home equity loan can be a good option for consolidating and paying off your debt.

Pro tip

A home equity loan can be a good option to consolidate your debt. But since your house is at stake, you should only take out this type of loan if you are confident that you can make the payments.

The caveat is that you need to make sure that you are able to make the loan repayments. Failure to pay could mean the loss of your precious collateral – your home. Making these payments on time is essential to avoid exacerbating or creating spiraling debt, Ortoli explains. “A home equity loan should only be used for debt consolidation if you have a stable source of income and are confident that you can make all of your payments for the new loan,” Ortoli explains.

Weighing the pros and cons of a home equity loan to consolidate debt

Advantages

  • Interest rates are generally lower than those of other loans.
  • It may be easier to qualify “since it is secured debt,” Ortoli says.
  • Able to shop for the best terms and lowest interest rates among various financial institutions.
  • The funds are received in a lump sum, so that borrowers can immediately pay off large debts and other expenses.
  • No stipulation on the use of borrowed funds.
  • The prices are generally fixed.

The inconvenients

  • Placing your home as collateral when the default could lead the lender to put a lien on your home.
  • The easy-to-access loan could mean it’s too accessible for people who are not financially prepared, Ortoli says.
  • If the home’s value goes down, home equity loan borrowers may end up owing more than their home’s value, leaving them in a deeper hole.
  • This is a loan that is in addition to an existing mortgage.

Alternative ways of debt consolidation

“At the end of the day, consolidation is a powerful strategy, but think of it as a cure, not a cure,” says Klingelhoeffer. “The real cure is to have positive cash flow and to pay off your debt at a manageable level.” Freeing up monthly cash could also help channel funds into an emergency fund and retirement. Many experts will say that it is important to start early because it is a positive step in building wealth.

If you don’t want to risk having a lien on your home, but are looking to free up cash and consolidate debt, there are several ways you can consolidate debt.

Balance Transfer Credit Card: Some balance transfer cards offer an introductory 0% interest rate. Most range from 12 to 18 months until the APR goes into effect. Several debts can be transferred to the card. If you pay off the card balance before the introductory period ends, all of your payments will go 100% on the balance instead of the balance plus interest. This strategy can help pay off debt sooner and save on total interest. Depending on the issuer, there may be restrictions on the type of debt that can be transferred, however, when a home equity loan has no stipulation on how to use it.

Personal loan: A personal loan could be a better or a worse option depending on the APR you qualify for. If the personal loan is unsecured, it means that you will not have to use your home as collateral. And if you can get a personal loan rate that is lower than the home equity rate, it could work in your favor. Generally, you can use the personal loan funds however you want. Be careful, however, of origination fees and prepayment fees.

Debt management plan: If you have unmanageable debt and need help sorting through your options, a credible credit counseling agency can help. We recommend that you use an agency qualified by the National Foundation for Credit Counseling.

Debt Settlement Plan: Using a debt settlement service can help you in the process of negotiating your debts. However, the service is not free. Ultimately, you don’t need to pay for this service since you can contact creditors directly and ask to negotiate or settle the outstanding balances yourself.

Refinancing: Interest rates are low right now, so if you are a homeowner, you may be eligible for new great loan terms. Refinancing a 30-year mortgage can allow you to spread the loan balance over 30 years versus 10 years like with a home equity loan, says Chuck Czajka, founder of financial consulting firm Macro Money Concepts in Florida. If refinancing reduces your monthly mortgage payment, you can use the freed up cash to pay off your debt.

A cash refinance can also work by taking out a new mortgage for more than what is owed, but getting a check for the difference, to be used as desired, at closing. Refinancing the entire mortgage and taking out the equity needed to pay off debts is an option to consider, explains Czajka. Pay close attention to closing costs. Closing costs could exceed the cost of your debt.

How To Get A Home Equity Loan For Debt Consolidation

If you decide that a home equity loan is the best option for you, here’s how to get started.

  1. First of all, it is important to know the value of your home in order to know your equity.
  2. Check your credit score and take steps to increase it for a better rate.
  3. “You can get a home equity loan for debt consolidation by first applying to the bank that holds your mortgage,” Czajka. “This bank will likely know you and be able to help you get through the home equity loan process faster.”
  4. Buy and compare the best rates, terms, and fees with at least three lenders before you apply.
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Affiliated Mortgage nominated for Best Mortgage Lender in Black Hills 2021 | Sponsored https://gaoodgle.com/affiliated-mortgage-nominated-for-best-mortgage-lender-in-black-hills-2021-sponsored/ https://gaoodgle.com/affiliated-mortgage-nominated-for-best-mortgage-lender-in-black-hills-2021-sponsored/#respond Tue, 03 Aug 2021 17:30:00 +0000 https://gaoodgle.com/affiliated-mortgage-nominated-for-best-mortgage-lender-in-black-hills-2021-sponsored/





Technology and personalized service make Affiliated Mortgage a mortgage company of choice.


If you are in the business of serving your customers and putting them first, success becomes inevitable. This is the mantra by which Affiliated Mortgage lives.

Affiliated Mortgage understands the challenges of home ownership and strives to make the mortgage process as smooth as possible. “The mortgage loan process doesn’t have to be difficult,” said Troy Trombetta, branch manager, Affiliated Mortgage. “Our role is to show each client the path to home ownership. There is nothing more rewarding for me than seeing you at the closing table and handing over the keys to your first house.

Affiliated Mortgage is the leading mortgage lender in Rapid City and its surrounding communities. The company invests in its local communities and has been recognized as the Best of the Black Hills in 2020. It offers a wide variety of residential mortgages, including conventional mortgages, adjustable rate mortgages, FHA loans, VA loans. , USDA loans, among other loan programs. They are present in various regional towns near Rapid City, South Dakota including Pierre, Sioux Falls, Brookings, Vermillion, Ellsworth Air-force Base, Box Elder, Keystone, Custer, Piedmont, Summerset, Blackhawk, Sturgis, Deadwood , Lead, Spearfish and Belle Fourche. The company also has satellite offices in Arizona and Billings, Montana.

Affiliated Mortgage is best known for its customer experience, technology, fast approvals, and kill rates. Affiliated Mortgage clients have ranked them among the top mortgage companies in Rapid City and other states.

Personalized service

Troy Trombetta is a veteran and mortgage lender who has actively helped first-time homebuyers buy their dream home and help homeowners refinance their homes. Troy was a member of the US Air Force at Ellsworth AFB in Rapid City, working as an aircraft maintainer on the B-1B bomber.

When his enlistment ended, he felt the mortgage industry was an obvious choice for him to continue doing what he loved – serving others with integrity, commitment and excellence.

Since then, Troy Trombetta has helped the company grow tremendously, and now the company has a presence in over 23 states. The increased revenue growth along the way allowed the company to reinvest in the community, customers and cutting edge technology, which significantly reduced the time between loan application and approval. And it’s paying off – Affiliated Mortgage was rated as Best of Black Hills in 2020 and is nominated as Best of Black Hills in 2021.

“We pride ourselves on the fact that we have always provided personalized service to our family of clients, helping them secure the loans that match their needs,” said Trombetta.

Technology-Based New Home Loan and Home Refinancing Process

The company’s easy-to-navigate website provides visually appealing graphics to capture the interest of customers. The website also outlines the nine steps to getting a home loan with time estimates associated with each step in the process. Through their efficient technology-based processes, potential customers can perform a Buying a house or Home refinancing quote in less than 30 minutes and pre-approved in one day, a drastic reduction in time compared to just a few years ago.

In fact, customers can take advantage of the technology by using their phones to initiate the application / pre-approval process. For customers with home-related questions, the site offers a series of informative affiliate blogs that cover a myriad of issues, including how to make home improvements, understanding the pros and cons of buying a home. a renovator, navigate the conundrum of the auction war, calculate how much you’re entitled to, know if a home is right for you, and prepare for moving day, among other things.

Additionally, the company recently created a Preferred Partner program that helps clients connect with area real estate agents, further streamlining the process.

“What always pleases me is seeing clients a year after closing and talking to them about their new home and the experiences they have had with their families.rombetta noted. “They talk about their garden, the dog they always wanted, how they painted their house the way they always wanted. Ultimately, it’s about the experience we create by helping them buy their home.

The key to a successful closure.

Click on here vote for Affiliated Mortgage as the best mortgage lender in 2021.

This content was produced by Brand Ave. Studios. News and editorial services played no role in its creation or posting. Brand Ave. Studios connects advertisers with a targeted audience through engaging content programs, from concept to production and distribution. For more information, contact sales@brandavestudios.com.
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Low mortgage rates give homeowners another refinancing opportunity https://gaoodgle.com/low-mortgage-rates-give-homeowners-another-refinancing-opportunity/ https://gaoodgle.com/low-mortgage-rates-give-homeowners-another-refinancing-opportunity/#respond Wed, 21 Jul 2021 18:59:20 +0000 https://gaoodgle.com/low-mortgage-rates-give-homeowners-another-refinancing-opportunity/

Mortgage refinancing has become more attractive, thanks to the combination of a fall in mortgage rates in recent weeks and the end of a much maligned federal tax on refis. The average 30-year refinance rate fell to 3.03% this week from 3.11% last week, according to Bankrate’s national survey of lenders.

Many in the mortgage industry expected the refinancing boom to fade as the economy recovers from the coronavirus recession. Instead, the spread of the Delta variant of COVID-19 has shaken financial markets.

For homeowners, there is a new opportunity to take advantage of low refi rates. “A lot of people who thought they missed the boat the first time around might be interested now,” says Sebastian Hart, senior director of capital markets at mortgage lender Better.com.

Mortgage refinancing rates are moving in favor of borrowers for several reasons. In a pilot, mortgage regulators said last week they were ending a widely criticized surtax on refinancing. This announcement from the Federal Housing Finance Agency came on Friday morning and Friday afternoon as lenders were lowering refi rates.

“As soon as this announcement was made by the FHFA, the lenders were hot,” says Robert Humann of Credible.com.

Homeowners have reacted, too, by taking advantage of the drop in rates. “Our pipeline jumped 20% in one week,” says Gordon Miller, owner of Miller Lending Group in Cary, North Carolina.

Mortgage rates are falling everywhere

The federal fees of 0.5 percent of the amount of a refinance were paid by lenders rather than borrowers. In response, lenders last year hiked refi rates by about 12.5 basis points, or 0.125 percentage points.

Some lenders have cut the rates on 15-year fixed-rate loans to less than 2%, and they dangled deals on 30-year refinances well below 3%. These measures could rekindle a refinancing boom that was in full swing earlier this year.

The other factor driving mortgage rates down is the resurgence of the coronavirus, which raises new questions about the future of the economic recovery. Reflecting these concerns, the yield on 10-year Treasury bonds fell to 1.28% on Wednesday. The 10-year Treasury – a key benchmark for 30-year mortgage rates – stood at 1.5% a month ago.

How to refinance your mortgage

Step 1: set a clear goal

Have a compelling reason to refinance. This could be lowering your monthly payments, shortening the term of your loan, or withdrawing equity for home repairs or to pay off higher interest rate debt. You may also want to roll your HELOC into a refi.

What to consider: If you lower your interest rate but reset the clock on a 30-year mortgage, you could be paying less each month, but more over the life of your loan. This is because the amortization charges up front interest charges during the first few years of a mortgage.

Step 2: Check Your Credit Score

You will need to qualify for refinancing just like you would need to get approved for your original home loan. The higher your credit score, the better the refinancing rates lenders will offer you, and the better your chances of underwriters to approve your loan.

What to consider: Lenders have become more stringent on granting credit during the pandemic, so the typical mortgage borrower’s credit rating is higher than ever. While there are ways to refinance your mortgage with bad credit, it may be a good idea to spend a few months raising your credit score before you begin the process.

Step 3: determine the equity in your home

The equity in your home is the value of your home that is more than what you owe your mortgage lender. To find this number, check your mortgage statement to see your current balance. Then check out online home search sites or have a real estate agent perform a scan to find your home’s current estimated value. The equity in your home is the difference between the two. For example, if you still owe $ 250,000 on your home and it is worth $ 325,000, your home equity is $ 75,000.

What to consider: You may be able to refinance a conventional loan with as little as 5% equity, but you’ll get better rates and lower fees (and you won’t have to pay private mortgage insurance, or PMI) if you have more than 20% equity. The more equity you have in your home, the less risky the loan is for the lender.

Step 4: Shop around for multiple mortgage lenders

Getting quotes from multiple mortgage lenders can save you thousands of dollars. Once you’ve chosen a lender, discuss the best time to lock in your rate so you don’t have to worry about the rate going up before your loan closes.

What to consider: In addition to comparing interest rates, pay attention to the cost of fees and whether they will be owed upfront or built into your new mortgage. Lenders sometimes offer refinances with no closing costs, but charge a higher interest rate or add to the loan balance to compensate.

Step 5: Put your papers in order

Gather recent pay stubs, federal income tax returns, bank statements, and whatever else your mortgage lender asks for. Your lender will also look at your credit and equity, so disclose your assets and liabilities up front.

What to consider: Having your documentation ready before you start the refinance process can make it smoother.

Step 6: Prepare for the assessment

Mortgage lenders generally require a mortgage refinance appraisal to determine the current market value of your home.

What to consider: You will pay a few hundred dollars for the evaluation. Notifying the lender of any improvements or repairs you have made since purchasing your home could result in a higher valuation.

Learn more:

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Central bank demands mortgage issuance bond for SEB, Swedbank | Economy https://gaoodgle.com/central-bank-demands-mortgage-issuance-bond-for-seb-swedbank-economy/ https://gaoodgle.com/central-bank-demands-mortgage-issuance-bond-for-seb-swedbank-economy/#respond Wed, 21 Jul 2021 09:29:00 +0000 https://gaoodgle.com/central-bank-demands-mortgage-issuance-bond-for-seb-swedbank-economy/

The central bank maintained a requirement that Swedbank and SEB should apply a risk weight of at least 15% of their home loan portfolio when calculating the capital need to cover the risks associated with mortgages issued in Estonia.

The risk-weight floor currently applies to Swedbank and SEB in Estonia, as they assess risky assets using internal models in which the risk calculation is heavily affected by past loan losses, according to the bank. central.

This threshold does not apply to other commercial banks, as these generally use a simpler standardized approach in Estonia, where a fixed and uniform risk weight of 35% is used for mortgages, when calculating currency exposures. risk to capital requirements.

Central Bank: Lessons from the Latest Recession

The Bank of Estonia said it has taken into account lessons learned from the previous economic crisis in 2010, including introducing three requirements for home loans in March 2015 that protect both borrowers and banks from risk taking. excessive.

The three conditions are that the loan-to-value (LTV) rate must not exceed 85 percent, that all monthly loan and lease payments of the borrower can only amount to 50 percent of their income. net, and that the conditions over 30 years.

Regarding SEB and Swedbank, the central bank applied the conditions in the fall of 2019 and says they remain necessary at a time when the housing market is buoyant and when many mortgage loans have been issued, following the coronavirus crisis from 2020.

The second quarter of 2021 saw a record number of real estate transactions

The second quarter of this year saw a record number of real estate transactions concluded.

The central bank says its goal is to make sure banks have enough capital to cover the risks associated with mortgages.

Loan losses on home loans have been modest in recent years, meaning that banks have taken less capital into account to cover risks, which in turn pushes down further the risk weights reflecting the risk of banks. Mortgages.

However, hedge against another economic downturn, homeowners struggling to repay their loans and a drop in house prices is needed, according to the central bank, and which in turn would impact the banks themselves. .

Banks need sufficient capital both for their own health and to find solutions for customers facing payment arrears, the central bank said, citing the recent loan repayment holidays allowed in the early stages of payment as an example. the pandemic.

The bank’s original press release is here.

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New home mortgage volume drops to 13-month low in June https://gaoodgle.com/new-home-mortgage-volume-drops-to-13-month-low-in-june/ https://gaoodgle.com/new-home-mortgage-volume-drops-to-13-month-low-in-june/#respond Tue, 20 Jul 2021 17:24:00 +0000 https://gaoodgle.com/new-home-mortgage-volume-drops-to-13-month-low-in-june/

Buying a new house volume of applications dropped every month in the second quarter, as construction costs and low inventories took loan amounts to an all-time high.

June applications fell 3% from May and 23.8% year-over-year, according to the Mortgage Bankers Association’s Homebuilder Apps Survey.

The seasonally adjusted annual estimate of 704,000 June sales was down 5% from 741,000 units in May. It was the lowest amount since May 2020. The annual sales rate over the past three months is about 7% lower than the 2020 average, according to Joel Kan, associate vice president of economic and industrial forecasting at MBA. .

“Homebuilders have been facing stronger headwinds lately, as the prices of key building materials, rising regulatory costs and labor shortages are impacting their ability to increase production, ”Kan said in the report. “In addition, the still low levels of inventory for sale are also pushing up prices, as competition for available units remains high among potential buyers.”

Unadjusted estimates showed that 66,000 new homes were sold in June, up from 68,000 in May and 71,000 a year ago. Although activity has slowed, the average amount of new home mortgages increased for the fifth consecutive month and hit a new high of $ 392,370, from $ 384,323 in May and $ 338,589 the year before.

“In addition to the price increases, we are also seeing less purchase transactions in the lower price points, as more of these potential buyers are excluded from the market, putting upward pressure on loan balances.” Kan said.

Conventional loans represented 74.4% of new home loan applications, against 73.9% in May and 65.1% in June 2020. Loans insured by the Federal Housing Administration followed with a share of 14%, in monthly decrease of 14.8% and annual decrease of 22.6%. Mortgage loans guaranteed by the Department of Veterans Affairs increased from 10.4% and 11.2% to 10.6%, while loans from the Rural Housing Service and the United States Department of Agriculture took the remaining 1% , going from 0.9% and 1% respectively.

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I will not leave my house to my boyfriend in my will. I don’t want his daughters who hate me to take advantage https://gaoodgle.com/i-will-not-leave-my-house-to-my-boyfriend-in-my-will-i-dont-want-his-daughters-who-hate-me-to-take-advantage/ https://gaoodgle.com/i-will-not-leave-my-house-to-my-boyfriend-in-my-will-i-dont-want-his-daughters-who-hate-me-to-take-advantage/#respond Tue, 20 Jul 2021 04:03:00 +0000 https://gaoodgle.com/i-will-not-leave-my-house-to-my-boyfriend-in-my-will-i-dont-want-his-daughters-who-hate-me-to-take-advantage/

Dear Quentin,

I have lived with my boyfriend for five years. When I met him he was estranged from his wife and they later divorced. His daughters blame me for their father’s marriage failure, and because of that, they don’t like me at all. They even refused to meet with me and made sure that I was excluded from anything family related.

Recently he lost his job. At the time, I wasn’t earning enough to pay our substantial rent and support us both. We started to rent a room to a member of my family. Since then, I’ve landed a much better job and saved enough to put a small down payment on a house.

Because he is paying alimony to his ex-wife, his debt-to-income ratio is extremely high and he cannot be included in the mortgage. I will never marry my boyfriend. I was married once and lost almost everything in the divorce. It’s not something I want to do again.


“His friends and family think I’m selfish.”

This is where things get tricky. I will not leave the house to him in my will. Very early on, he let me know that all his financial assets would be passed on to his daughters. I don’t have a problem with that. I don’t want his daughters, who hate me, to take advantage of everything I’ve worked hard to achieve.

I told him that in case I die before him, I will leave the house to my son, but I will establish a subdivision to stay in the house. As long as he continues to pay the mortgage and taxes, he can stay there until his death, and my son will take over.

He is angry and hurt by my decision. I feel like this is the best decision there is. My son would make sure my boyfriend had a place to live, but in the end he will receive his inheritance. Am I wrong? I would like to hear from someone who is impartial.

His friends and family think I am selfish. I haven’t shared this with my family because I don’t want them to think negatively of him.

Girlfriend uncertain

You can email The Moneyist for any financial and ethical questions related to the coronavirus at qfottrell@marketwatch.com, and follow Quentin Fottrell on Twitter.

Dear uncertain,

Your house. Your money. Your will. Your family. Your choice.

Your boyfriend can’t afford to buy a house with you, and you don’t want to tie your financial future to that relationship, and you want to make sure your son has some semblance of security after you leave. If the past year has taught you anything, it’s that anything can happen.

While buying a house is so important to your boyfriend, he can do it on his own terms and at his own pace. He also needs to dance to the beat of his own drum. His goods go to his children, your goods go to your son. He can’t expect to do one thing and get mad at you for doing another.

You face significant headwinds in your relationship. Relationships are tough enough when everyone is cheering you on, but her family has made her feelings clear. They don’t want you in his life. It’s smart to accept their decision rather than going crazy trying to change it.

But you are right. Only a punishment sucker would want the stepchildren – who portray them as the evil stepmother – to ultimately inherit their home, or even share that inheritance. Your stepchildren shouldn’t want to have it all over the place, and neither should your boyfriend.

Mixing assets with a man you never intend to marry and who has significant family and financial issues impacting your relationship would be wrong. Take care of yourself and your son, and let the proverbial shavings fall where they can, anywhere except your own backyard.

By sending your questions by email, you agree that they will be posted anonymously on MarketWatch. By submitting your story to Dow Jones & Company, the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including through third parties.

Check the private Facebook Moneyist group, where we seek answers to life’s toughest money problems. Readers write to me with all kinds of dilemmas. Post your questions, tell me what you want to know more about, or weigh in on the latest Moneyist columns.

The Monetary regrets that he cannot answer the questions individually.

More from Quentin Fottrell:


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2 Ways To Boost Your Credit Score Fast For A Better Rate https://gaoodgle.com/2-ways-to-boost-your-credit-score-fast-for-a-better-rate/ https://gaoodgle.com/2-ways-to-boost-your-credit-score-fast-for-a-better-rate/#respond Mon, 19 Jul 2021 10:04:34 +0000 https://gaoodgle.com/2-ways-to-boost-your-credit-score-fast-for-a-better-rate/

Most people who are considering buying a home need a mortgage.

Mortgages tend to be very large, with homeowners borrowing hundreds of thousands of dollars. And most mortgages are paid off over 15 years, 20 years, or 30 years. This means that borrowers pay interest on their large loans for a very long time.

For all these reasons, it is important to have the most credit rating before applying for a home loan. This is because your credit could affect the interest rate you are charged. And even a small difference in the rate you pay could end up costing you tens of thousands of dollars in additional interest.

Most of the things you can do to improve your credit can take time. This can be a problem if you are trying to buy a house now.