A young thrifty couple are celebrating being mortgage-free in their 30s—after paying off their 95,620 pound (approx. US$133,500) mortgage 28 years early. Siobhan and Lee Bowen from Great Wyrley, Staffs, England, purchased their first home together in 2011, and despite having a relatively low income, the pair now own their three-bed semi-detached home outright. The parents…
A Thrifty Couple in Their 30s Pay Off $133,500 Mortgage 28 Years Early
Couple Who Tripled Their Mortgage Deposit During the Lockdown Buy a New House
A thrifty couple who saved a deposit of 50,000 pounds (approx. US$70,000) during the lockdown using some very detailed spreadsheets are celebrating buying their first home. Louise and Mike Zanier were left disappointed after they were forced to pull out of a house sale when their mortgage lender stopped accepting 5 percent deposits at the beginning…
Not Really an Emergency
Dear Dave, My husband and I are close to having our home paid off and being completely debt-free. Can we dip into our emergency fund to pay off the house? Enid Dear Enid, I’m not sure I’d recommend doing this. I might think about it if your emergency fund is way too big, plus you have a very small amount…
NatWest’s Ulster Bank Fined Record 38 Million Euros for Mortgage Overcharging
DUBLIN—Ireland’s central bank on Thursday fined NatWest’s Irish business, Ulster Bank, a record 37.8 million euros for overcharging mortgage customers, some of whom lost their homes after being denied their right to a cheaper “tracker” mortgage. The penalty was almost twice the largest fine previously laid down by the regulator on any institution, a 21…
Existing Home Sales Drop Sharply; Prices Surge
WASHINGTON—Home sales fell more than expected in February as cold weather blanketed many parts of the country, and a rebound could be muted by rising mortgage rates as well as higher house prices amid tight supply. The National Association of Realtors said on Monday that existing home sales dropped 6.6 percent to a seasonally adjusted…
There Are Other Ways
Dear Dave, I really don’t have any established credit, because I’ve never taken out a loan or had a credit card. What will happen when I’m ready to get a mortgage loan and buy a home? Jillian Dear Jillian, There are basically two ways to be in a position to get a home loan. One…
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