Real Estate News

Business

5 reasons to spend your home equity (with caution)

Borrowing against the equity in your home can often be a good way to get access to cash quickly. You have several loan options, such as a cash-out refinance, home equity loan or home equity line of credit (HELOC), but you need to have a good reason for tapping the equity in your home before deciding on one.

Business

The Mortgage Professor: A new approach to mortgage design

For decades, the principal motivation driving home mortgage design was to increase affordability. The logic was that homeownership was desirable, and the more affordable mortgages became, the higher would be the homeownership rate. As a result, the typical mortgage, which had a down payment of 40 percent and a term of 10 years in the 1920s, today has 5 percent down and a 30-year term.

Business

Real estate Q&A: What can I do about my neighbor wasting water?

Q: Our neighbor in our townhouse community wastes an excessive amount of water cleaning her sidewalk and driveway. We have asked her not to waste water, but she responds that it is covered by her maintenance dues, so there is no reason to worry about it. I am troubled by her waste of valuable resources. Is she allowed to get away with this? – Marilyn