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Financing & Insuring

Financing & Insuring

New Home vs. Resale Home: Homeowners Insurance Edition

March 27, 2012

One of the many hidden costs associated with older, foreclosed or distressed homes is a higher homeowners insurance premium. Here’s a glimpse at the causes behind the calculations: Does your house have a history? Filing a claim doesn’t automatically increase your insurance premiums, but a history of frequent claims could—and not just your claims. Before you buy a resale home, ask the seller for a C.L.U.E. or A-PLUS report. If the home you’re eyeing seems accident prone, that should raise red flags for you, not…

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Financing & Insuring

3 Ways to Make Today’s Interest Rates Work for You

November 2, 2011

1: Take advantage of lower monthly payments. If you’re considering buying a new home in the coming months, there’s one benefit to today’s low rates that can’t be ignored: lower monthly mortgage payments. To help show you the significance of current rates, let’s look at an example. The average 30-year fixed-rate mortgage in September 2002 had a 6.26% interest rate (HSH.com). Nine years later, in September of this year, the average 30-year fixed rate was at 4.09%. CNN reported that, according to mortgage giant Freddie…

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