Tip 1 |
Re-evaluate your home loans like you do your stock portfolio to make sure your current loan(s) still make sense.
With the Federal Reserve continuing to increase short-term rates, many homeowners are opting to refinance their variable or adjustable rate mortgages (ARMs) into a more stable fixed-rate loan. For many borrowers, doing so provides long-term predictability and allows them to avoid the pain of climbing interest rates and monthly payments. So, whether you have a Pay Option ARM, short-term ARM or a home equity line of credit, staying on top of changing interest rates and re-evaluating your loan portfolio may save you thousands of dollars over the life of the loan. Numerous financial web sites such as E-LOAN provide free calculators and tools that make it easy to evaluate various loan and interest rate scenarios to determine which course of action makes the most financial sense for you.
Learn more
|
Tip 2 |
Put a little something extra in your stocking
by refinancing your auto loan.
Many consumers think about refinancing their home to save money, but don't realize they can also save by refinancing their auto loan. It's quick and easy and by doing so many consumers can lower their monthly payments and save hundreds of dollars. Consumers who have improved their credit score or were sold a loan at a higher rate than they deserved stand to save the most.
Calculate your new payment |
Tip 3 |
Looking to buy a new car? Why not take advantage of the surplus of slightly used cars and save thousands!
With the onslaught of manufacturer rebates and purchase incentives on new cars, dealers across the country have found themselves with a large surplus of used vehicles on their lots ? especially SUV's. For car buyers, this means that if you're willing to get a slightly used car ? say a 2 or 3 year-old model ? you can avoid paying a new car premium and still drive away with that new car smell. Yes, dealers have figured out how to put that priceless new car smell into used models. To make sure you're getting the best deal, be sure to check out consumer sites such as Edmunds.com before you buy.
|
Tip 4 |
Start a new holiday tradition! ? Protect your good name and fight identity theft by ordering your free annual credit report and checking your credit score.
Why not make it an annual tradition to check your credit reports every December? It's important for all individuals to stay on top of their credit reports so that mistakes or a possible identity theft situation are caught and addressed as soon as possible ? especially because it can take up to six months to correct an error. This is particularly true for those consumers who are planning to make a significant purchase ? like a new home or car ? within the next few months. The information that makes up your credit report is used to determine your credit score, which is often the most important factor lenders use to determine the rate you pay on a loan. So, it's equally important to check, monitor and manage your all-important credit score! Thanks to the Fair and Accurate Credit Transactions Act of 2003, consumers nationwide have access to free credit reports from each of the three credit reporting bureaus. You can go to www.annualcreditreport.com to order free copies of your credit reports, and get your credit score for free at E-LOAN. For education and guidance on preventing and resolving identity theft issues, visit www.idtheftcenter.org.
|
Tip 5 |
Save money by sending in your January mortgage payment now and paying your property taxes early!
By paying your property taxes early and making your January mortgage payment before the end of this year and, you can enjoy a greater mortgage interest deduction at tax time.* Given that you're probably in the midst of "shopping ?til you drop" this busy holiday shopping season, it may seem unreasonable to think that you could afford to make that early mortgage or property tax payment now. However, with the money you'll save on 2005 taxes, it might be that you can't afford not to!*
*Consult your tax advisor regarding the deductibility of interest payments.
|
|
Returning Customers: Sign In
