Definition of Fractional Ownership In its broadest definition, fractional ownership is any arrangement where a group of people (numbering from 2 to 10 or more) share the ownership of an asset and also share certain rights to use the asset. The use of the word "ownership" in the definition therefore excludes timeshare arrangements, where there is no ownership of the underlying … [Read more...]
Do’s and Don’ts of Personal Finance
Every single person one of us—irrespective of our location, age, gender, hair color, family background or race—has to manage our personal finances. For some, it’s an exciting passion, a never-ending game of “how much can I accumulate in one lifetime”. For others, it’s just part of life, something that needs to be dealt with but doesn’t border on obsession. And finally, for … [Read more...]
What are the Tax Advantages Of A Small Down Payment?
Tax Advantages Of A Small Down Payment A big mortgage plus small down payment equals tax advantages? If you are like most investors you will finance most, if not all of the purchase price for your home. Once you move in, the home ownership honeymoon is over, you will probably get the urge to speed up your payments and get out debt as soon as possible. But, should you deplete … [Read more...]
What are Balloon Mortgages ?
Beware of Balloon Mortgages This is a mortgage where the one payment, usually the last one is bigger than any other payments. Balloon Mortgages are usually set up like a regular 30 year mortgage except that at some date in the future, a large balloon payment will be due. The balloon payment is typically the entire balance of the mortgage. The due date of the balloon payment … [Read more...]
Pros and Cons of Interest Only Mortgage
Do You Know the Pros and Cons of Interest Only Mortgage? Has any lender ever told you the Interest Only Mortgage was like a double-edged sword? It can help you achieve your dream of owning a home more easily, but it also can create a financial hardship for those who don’t fully understand what’s involved. In the attempt to lure potential homebuyers, the lenders have come up … [Read more...]