In the process of buying a home or refinancing a mortgage, personal finance planning is often overlooked or neglected.For a typical borrower, the plan was to get a loan that stretches out the monthly payments, delays the principal reduction, and use the home like an ATM machine to withdraw cash for various things.Changes in the economy and real estate market should give homeowners a different perspective on managing their personal finances. Today, a financially practical approach to borrowing money for housing is to consider keeping a home as a long term place to live, while planning a specific time to pay off the mortgage.When buying or refinancing...
16 Apr
