FIRST TIME HOME BUYER — VS — RENTING — HOME EQUITY — CONERSTONE TO WEALTH BUILDING

HOME EQUITY

Home equity is the market value of a homeowner’s unencumbered interest in their real property, that is, the difference between the home’s fair market value and the outstanding balance of all liens on the property.

The property’s equity increases as the debtor makes payments against the mortgage balance, or as the property value appreciates. In economics, home equity is sometimes called real property value.

Home equity is not liquid. Home equity management refers to the process of using equity extraction via loans, at favorable, and often tax-favored, interest rates, to invest otherwise illiquid equity in a target that offers higher returns.

Homeowners acquire equity in their home from two sources.

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They purchase equity with their down payment and the principal portion of any payments they make against their mortgage.

hey also benefit from a gain in equity when the value of the property increases. Investors typically look to purchase properties that will grow in value, causing the equity in the property to increase, thus providing a return on their investment when the property is sold.

Home equity may serve as collateral for a home equity loan or home equity line of credit. Many home equity plans set a fixed period during which the homeowner can borrow money, such as ten years.

At the end of this “draw period,” the borrower may be allowed to renew the credit line.

If the plan does not allow renewals, the borrower will not be able to borrow additional money once the period has ended.

Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, ten years.

SOURCE: WIKIPEDIA


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FIRST TIME HOMEBUYER — OWNING YOUR VERY OWN HOME — VS — RENTING

First time home buyer, real estate investor, flipping houses. All three have one
thing in common–WEALTH BUILDING –. It has been, is and forever be THE AMERICAN
DREAM. Plenty of recent articles has question the wisdom of purchasing your very own
home. Just think about it. Ten years of rent at 1200 per month will amount to almost
$150,000.

The landlord has enjoyed appreciated in value of the property, taxes write off, and
additional income to invest in more property. All of this with the income you have
worked for. PUT YOUR INCOME TO WORK FOR YOURSELF.

First time home buyers are having a difficult time entering the homebuyers market. Their are so many books on home ownership but for some reason, even for a few dollars with all the steps to purchasing a homeBUILDING WEALTH — HOMEOWNERSHIP — INVESTING IN REAL ESTATErenters/apartment refuse to even see how easy it to become a homeowner. So the American Dream and Financial wealth escapes so many in this generation.

Giving insights into how to get started and be successful in Real Estate. All three requires
subject areas requires some general knowledge. I would highly recommend reading beginners
books on each topic.

Real Estate have a few subjects matters that every one should understand.ALL THE INFORMATION YOU NEED TO BUILD WEALTH

Additional income maybe required.

In real estate their is the possibility to purchase property with no money down. Lots of investors
have been successful doing just that. Additional income from a steady source will let you sleep
a lot better.

According to bankofamerica.com

First-time Home Buyer Information, Tools and Resources

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Continue reading “GENERATION X, Y, Z. HOMEOWNERSHIP IS STILL THE AMERICAN DREAM — BE A FIRST TIME HOMEBUYER”

FIRST TIME HOME BUYER–REAL ESTATE INVESTOR — FLIPPING HOUSES

First time home buyer, real estate investor, flipping houses. All three have one
thing in common–WEALTH BUILDING –. Posted below are several books that covers the subjects.
Giving insights into how to get started and be successful in Real Estate. All three requires
subject areas requires some general knowledge. I would highly recommend reading beginners
books on each topic. Real Estate have a few subjects matters that every one should understand.

Additional income maybe required. INCOME FOR INVESTING
In real estate their is the possibility to purchase property with no money down. Lots of investors
have been successful doing just that. Additional income from a steady source will let you sleep
a lot better.