Holiday Planning

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The Holiday season is just around the corner; Hanukkah, Christmas, and New Years. This is the time of year that many people find themselves in debt. Presents, trees, decorations, and feasts. It's the season of giving, but that doesn't mean you have to give too much to your mortgage company. There are a couple of things you can do this season to keep your home debts low, so they can't overwhelm your family the rest of your year.

* First, keep a fixed rate so the interest rate remains the same. These are normally 30 year loans. This is where the loan payment is spread out over 30 years to calculate your monthly payment, and at the end of 5 years be ready to pay the entire unpaid loan balance.

* Also keep you interest rate low by trying the 10-15 year mortgage system which can save you ultimately on your total interest paid.

Note that Adjustable-Rate Mortgages don't have a fixed rate and will adjust periodically.

Keep in mind through the Holiday's Coach Steve's Tips from his Power of Realty Coaching book:


"Buyer beware of negative amortization loans:
if equity is flat, you'll lose on this loan, but if equity is going up, it can be beneficial."

Sincerely

Steven Alonge