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How to Handle Mortgage Arrears

For different reasons, people have mortgages on their homes, apartments, and other properties. Most of the time, the mortgage is placed because of a loan that a person took from a bank for a reason. The reason might be all kinds of things - debts, investments, traveling, etc. Whatever the reason is, more often than not, people have real trouble organizing their cash income and the mortgages become too hard to handle. In this article, we'll see how to handle your mortgage arrears and not lose your property completely. First of all, you need to understand that debts not taken seriously will only become harder to pay out as time passes. After a while, the mortgage will become threaten to be act

How to Sell and Stay in Australia And is it Good?

Debts are normal and many people are struggling with this problem. Australia and Australians are nothing different when compared to other people in the modern world. For people that have trouble finding the best way of getting out of this kind of problems, we suggest a couple of solutions. First, there is the saving option. Saving money and cutting on expenses. If this is not working for you, you can try getting a special loan from a bank that will suit your needs. If this is also something that's not working for you, you might be interested in the sell and stay option. So how to sell and stay in Australia? Read on and learn more. How to stay and sell in Australia is a great question. If you

Debt Calculator - How to Prioritize Your Spending

It's not shameful to admit that debts have taken over your life. Many people have trouble achieving debt freedom and almost all of them have trouble prioritizing their spending. They all wish they had some kind of debt calculator, that will tell them how to manage their money and get rid of the money problems. In this article, we're going to explain in short how to prioritize your spending. How to make your own debt calculator and move quickly to achieve debt freedom. First and most important - the top of the list of priorities - is how to have more money to spend but still spend as little as possible. People struggling with debts think they have a money shortage and lots of expenses. This i

Reverse Mortgage For Seniors - Best Way to Live Large in the Older Days

There's a way of living large after retirement even though most people think that's impossible. The reverse mortgage for seniors program allows senior citizens to ask for loans from banks and actually get them. Most of the standard loans that banks create are not meant for people over the age of 65. Banks say this age group is simply not eligible for getting a loan. That's why banks created the reverse mortgage loan which is very people among the older generation today because of the many advantages it offers. The reverse mortgage for seniors is a special loan plan made for the eldest. This type of loan can't be accessed until the person asking for it is at least 65. Actually, different bank

Sale And Stay Contract - What to be Careful When Signing

A very popular form of selling property today is the sale and stay contract. In Australia, many people are deciding to make this kind of deal because of its many positive sides. However, all good things in business must have a downside too. Here's what you need to be careful about when your signing this kind of deal. First and most important, we need to know what is a sale and stay contract. In short, it is a deal by which a person is selling its own house, apartment, or other property that he or she is living in, but in return, they not only get money but the right to stay at the same place as a tenant for a fixed amount. This is the first thing a person should look out for. When signing th

What to Mind When Selling a House

It's never easy when people decide to sell their home. It's a decision that's really hard to make and when people accept the fact that their house is up for sale, they make few standard mistakes thinking they're actually doing good. So what to mind when selling a house? One of the most common mistakes is when people try to sell a house is thinking they'll be better of an agent and sell the property by themselves. If you think about it, it's normal to think in this direction because simple logic suggests it. People think, why should I give money to someone else to do something I'm able to do by myself? How can a stranger sell the house I know best? How can someone else know its best sides and

Is Reverse Mortgage a Good Idea?

Everyone needs more money in their life regardless of the age they're in. When people reach the age of retirement, they think the time of their life is long gone but actually, with a good spirit and a healthy mind, it can be quite the opposite of that. The only problem that might occur in finally reaching the dreams for people that are becoming seniors is money. A government pension is often too low to even be used for normal life needs. People getting retired must find new ways to get income and some have no other choice but to get a loan from the bank. However, banks are not very happy to give seniors standard loans. They think seniors are not eligible for regular loans, so they invented s

Sell And Stay is The Best Selling Contract There is in Australia Right Now

If you haven't heard about the sell and stay option and you want to sell your home because you desperately need money, then you're missing a lot. If you googled about best selling contract and you can't find anything that's a match, then you certainly missed this one. Sell and stay is definitely the best option when it comes to selling your home. Why? Read on and learn about it. Sell and stay is selling agreement between you as a seller and the buyer aka the new owner of your home. However, with the agreement the roles are all mixed up because you sell the house, but you still get to live in it. This is an excellent choice for those that needs money for some kind of investment or paying thei

'Hardest day of our lives': Family moving after reverse mortgage disaster

They're the mortgages that directly target asset-rich cash-poor over-60s who might fancy a holiday or new car or need some renovations they couldn't otherwise afford. But these reverse mortgages that don't require any monthly repayments can have a disastrous impact. Trevor and Stewart Pitt, who on the weekend had to sell their family home their parents bought in 1958 to pay back a reverse mortgage, knew the day would come. "We knew that that would be the eventuality," Stewart Pitt told 9NEWS. "The day that the removalist truck turns up here is probably going to be the hardest day of our lives." His parents took out a reverse mortgage years ago to help fund their lifestyle. They were receivin

Three Things Why It's Better to Hire an Agent When Selling a House

When people decide to sell their house, they always think it's better to do it by themselves. They think that hiring a real estate agent is just wasting money and it's better if they do everything on their own. This is wrong on so many levels but in this article, we'll explain the top three things why it's better to hire an agent when you're about to sell a house. Number one - Selling on your own will make you less profit. Now, the first thing everyone thinks about after the previous sentence is that is probably written wrong. It's not. Selling a house on your own will end in making less profit then letting an agent do it and here's why. When you decide to sell on your own, you think that yo