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Job-hunting Strategies for Trailing Spouses
You're
moving. Again. And once again, your spouse's career takes precedence and yours
is back at square one. Even if you are in total agreement with the move, you will still
experience two of the highest stress factors in existence simultaneously - moving and
unemployment.
Along with death of a family member, loss of a spouse, and
disaster, moving and being unemployed rank among the top five stress producers. To be
faced with two of the top stressers simul -
taneously requires the marshalling of all your survival and recovery instincts.
You're moving to make life better, but that is only true if
moving is best for both of you and the rest of the members of your family. Your job as the
transferred spouse is to make the best of the transition. Finding the right employment
situation will get you well on the road to accomplishing that goal.
Over 75% of company transferees are married, according to
the Employee Relocation Council, which means three out of four transferees has a
"trailing spouse."
CONTINUED >>>
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Myths About Bi-weekly Mortgage Payments
It's
amazing how many people think bi-weekly mortgage payments save you money through some
hocus-pocus.
That's because in many borrowers' minds,
"bi-weekly" translates as "half a regular mortgage payment, twice a
month." If such a technique could cut years off the term of your fixed mortgage, (or
reduce the total interest paid on an adjustable rate loan) it would be magic. But that's
not what's happening.
Yes, you might make a half-payment on the 1st and the 15th
of a month. But bi-weekly means "every two weeks", and you'd owe another
half-payment on the 29th. The next month you would indeed pay only twice, but sooner or
later, another three-payment month will show up.
If you pay every two weeks, that means 26 half-payments a
year, the equivalent of 13 full payments. And it's that extra payment, applied entirely to
principal once a year, that works the magic.
Your bank's computers are not set up to handle
half-payments, and if you tried sending them in, you'd soon be embroiled in a confusing
late-payment hassle. If you do want to achieve the same results, cutting approximately
nine years off a 30-year loan, you can try one of three systems:
CONTINUED >>>
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The Basics: Home Buying 101
You
need three things to buy a house -- good income, good credit, and some cash. And if you
lack any one of those, sometimes even if you lack two, there is often a way around it.
After all, if you have enough cash, income and credit won't
matter. You can simply pay cash for your home. If that's your situation, in fact, you're
in a strong negotiating position and can sometimes buy at a bargain figure, because you
represent a sure thing, a simple transaction, for the seller.
So what if you have good income and credit, but lack money
for down payment and closing costs? Several options are open to you. For starters,
veterans can obtain a VA-guaranteed loan with no down payment at all. And if you can find
sellers who agree, the VA will allow them to furnish the cash outlay you need, covering
everything from bank points to your prepaid property taxes.
Any buyer can apply for an FHA-insured mortgage, with down
payment of less than three percent. New regulations allow the down payment to be furnished
by a relative. Some of your closing costs (prepaid mortgage insurance premium for example)
may be financed along with the rest of the loan. And a cooperative seller may agree to
cover some of your other costs.
CONTINUED >>>
Angela Burdick combines many years' experience, a thorough
understanding of the real estate market, and cutting-edge technology to provide buyers and
sellers with competent advice and proven results.
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July's Issue
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You've
looked at dozens of homes. Your REALTOR® is about to tear his/her hair out with
frustration. You are paralyzed, letting one great home after another pass you by. Why
can't you make a decision? 