Business and Real Estate in Oakland

Posts Tagged ‘Financial Advice’

Signing a mortgage is one of the most important decisions we take over our lives and that probably subjugate our next 30-40 years.

With this in mind, we must take into account a number of factors that, if you sign a mortgage, we are not (ironically) mortgaging our future.

First, we must understand that we are signing a contract that binds us to a series of monthly payments that will be repeated over time. So far nothing new but are we sure we can pay that amount for the duration of the mortgage? In 30 years the working conditions of each person can vary greatly and will have to be prepared for situations such as job loss or similar.

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It is not uncommon for a tenants rent to increase by a certain percentage at the end of their lease. Whether you signed a six month lease or even an 18 month lease, rent will usually go up by the end of the lease. More often upon a six month leases’ end, rent will go up less than at the end of an 18 month lease.

This isn’t always true, but it is common. If a tenant requests to remain a tenant on a month to month basis, this usually ends up being an even higher monthly increase.

There are, however, a few things you can do that might gain you a different outcome. Usually, A++ tenants are hard to come by. If a landlord manages to get a perfect tenant in his property, he will usually bend over backwards to keep them.

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Some tips we’ve collected from various specialists to handle them in these very turbulent times:

• If you are in financial trouble, first cancel its debt with credit card. It is really important psychological advantage of having no deficit with your credit card as personal credit is available and if you hit hard times, at least not have to see how the 28 percent annual interest (1) that most of them pose, your debt increases rapidly.

• Build an emergency fund. Have at least equivalent to three months of their operating expenses in an accessible account. This will serve as a cushion in case you lose your job, and you can move comfortably while you look for another.

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