If you are a homeowner, you're probably wondering about the economy and when the housing market is going to begin a solid recovery. Most Americans believe that housing will recover sooner or later. Until that happens, what can you do to improve your financial situation?
Real estate expert John Adams joined Good Day Atlanta with advice.
1. Take command of your credit
A huge number of Americans have taken a hit to their credit in the past several years. Now is a great time to face the music, see how much damage has been done, then start repairing it. If your score is above 780, you are good to go. Below 720, you need some work. Get started at AnnualCreditReport.com and go from there.
2. Consolidate debts
Our nation is almost $16 trillion in debt, and most of us are personally in debt as well. Find out which of your debts is tax deductible and which are not, then consolidate all the non-deductible debt into a home-equity line of credit. You are potentially putting your house at risk, but the savings can be dramatic. Non-deductible debt is usually considered "personal" as opposed to real estate related, so think about car loans, credit card debt, and many student loans. In many cases, you can pay off non-deductible high interest rate loans with deductible low rate home equity lines of credit, and save a bundle, often with no out of pocket costs at all.
3. Refinance at a lower interest rate
Everyone should run, not walk, to the nearest reputable mortgage lender and refinance! Rates are so low we will probably never again see rates this low. If you are able to stomach the payments, now is a great time to lock in a new 15 year loan. If you plan to stay in your house for more than a year, you owe it to yourself and your family to run the numbers and see what you can save.
4. Protest your property tax
If you live in Gwinnett County, you've missed your chance to save a bundle on your property taxes unless you've already filed a protest. But if you own a home in Cobb, Fulton, DeKalb, or most all other counties in Georgia, you still have a few weeks left to call your tax assessor and file a PROTEST of your NOTICE OF TAX ASSESSMENT. Because values have fallen so low, if you protest, you will probably see your assessment lowered. But if you want just a few more weeks, you will have to wait until next January, and you'll be paying more than your fair share in the meantime.
John has the details on all four of these smart moves on his website at www.money99.com
Tuesday, May 21 2013 10:37 AM EDT2013-05-21 14:37:54 GMT
It's summer swimsuit time-- but is your suit right for your body?
It's summer swimsuit time-- but is your suit right for your body? Whether you're curvy, boxy, or round in the middle, Intimacy Bra fit specialist Eve Turner has some ideas that will help you find that perfect suit.
Tuesday, May 21 2013 10:17 AM EDT2013-05-21 14:17:24 GMT
When it comes to talking to doctors, a lot of us aren't exactly shooting straight. In fact, one survey found that almost 30 percent of patients admit to lying to their physician.
When it comes to talking to doctors, a lot of us aren't exactly shooting straight. In fact, one survey found that almost 30 percent of patients admit to lying to their physician. So, how much does your doctor really need to know?
Tuesday, May 21 2013 9:45 AM EDT2013-05-21 13:45:59 GMT
It's college graduation time, but before many graduates celebrate, they've got to focus on what comes next.
It's college graduation time, but before many graduates celebrate, they've got to focus on what comes next. With a tight job market, many new grads are getting a dose of reality when it comes to trying to land their first job.
Good Day's own Katie Beasley will walk down the aisle this Saturday, leaving her just a few more days to prepare.
Good Day's own Katie Beasley will walk down the aisle this Saturday, leaving her just a few more days to prepare. So, does she have something old, something new, something borrowed and something blue all covered? We found out.
Monday, May 20 2013 11:00 AM EDT2013-05-20 15:00:34 GMT
When the pools open on Memorial Day weekend, it's going to be hard to keep your kids away from the water.
When the pools open on Memorial Day weekend, it's going to be hard to keep your kids away from the water. But before summer gets into full swing, we've got some tips to help you make sure your children stay safe at the pool.
Monday, May 20 2013 9:52 AM EDT2013-05-20 13:52:30 GMT
The nasty divorce between Real Housewives of Atlanta star Portia Stewart and her husband, former NFL star Kordell Stewart, just got nastier.
The nasty divorce between Real Housewives of Atlanta star Portia Stewart and her husband, former NFL star Kordell Stewart, just got nastier. TMZ's Harvey Levin filled us in on the latest on Good Day!
Monday, May 20 2013 9:46 AM EDT2013-05-20 13:46:04 GMT
In case you don't know, we've got a bride-to-be in the house! Good Day's own Katie Beasley is getting married in FIVE SHORT DAYS.
In case you don't know, we've got a bride-to-be in the house! Good Day's own Katie Beasley is getting married in FIVE SHORT DAYS, so we're spending the week checking in with her on the last minute details of her big day!
Monday, May 20 2013 9:32 AM EDT2013-05-20 13:32:48 GMT
Sure, you know that Turner Field is THE place to watch the Braves in action, but did you know you can also take a walk through baseball history while you're there?
Sure, you know that Turner Field is THE place to watch the Braves in action, but did you know you can also take a walk through baseball history while you're there? Good Day's Paul Milliken-- a self-proclaimed Braves baseball addict-- takes you behind the scenes at the Braves Museum.
