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Monthly Archives: July 2017

    Other People’s Money for College

    By Carla Higgins | July 25, 2017

    Consider the goal of funding a child’s college education in the future. If “other people’s money” in the form of a scholarship is not a possibility, there still may be another way to use some “other people’s money.” A $25,000 investment into a mutual fund paying 5% would earn $1,250 in the first year. Alternatively, … Continue reading Other People’s Money for College → Read More

    Assumptions are an Alternative

    By Carla Higgins | July 18, 2017

    In the late 80’s, both FHA and VA began requiring buyers to qualify to assume their mortgages. The main reason there haven’t been many assumptions in the past 25 years is that interest rates have been steadily going down and if a person has to qualify, they might as well do it on a new … Continue reading Assumptions are an Alternative → Read More

    Family & Friends Mortgage

    By Carla Higgins | July 11, 2017

    Anytime a lender and borrower can agree on rates and terms, it can be a good match but IRS has specific rules that govern the transaction especially when the parties are family or friends. The loan must be done in a business-like manner with a written note specifying the loan amount, interest rate, term and … Continue reading Family & Friends Mortgage → Read More

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