GARYANDLANA

Accidents, injuries, and old age can deprive you of physical health.  If you’re just starting to think about insurance coverage, it can all seem a little confusing. There are so many different types of insurance available, and an even bigger variety in the types of policies you can get.  The biggest challenge in finding the right insurance policy can be in figuring out what you really need.

A few types of insurance are required by law – if you own a car, for example, the law requires you to have auto insurance. Many other types of insurance, such as life, renters, and travel insurance, are optional. Two common types of insurance are health insurance and home insurance.

Shopping around for insurance is much the same as any other type of shopping.  First, it’s good to consider whether or not the insurance policy meets your needs.  What risks, items, and events does it cover? For example, if you insure your home contents, are you covered if you leave the house unlocked?

Read the rest of this entry »

Thanks in many markets, house prices continue to fall, albeit more slowly than last year, mortgage rates seem to be stabilizing at historic lows and inventory of existing homes remained high. Moreover, for the first time buyers, the substantial tax credits are available to first time buyers and foreclosures properties owned by the bank and are available to everyone. Thus, many renters are wondering does time to stop renting and start own? And you should be one of the 74 million baby boomers already own a home, you need to consider these questions when considering a winter retreat of life or old age.

The answer is – Maybe yes, maybe no!

How do you decide the outcome will be to assess how you stack as a buyer? By the way, it is not easy as it once was. Here are 5 key questions to consider before jumping into the home buying process.

No. 1 – How much should you put down to buy?

Mortgage rates at 30 years fixed rate mortgages are hovering in a 5 ¾% to 5% range. However, creditors are conventional loans that require larger deposits and call for increased documentation of income and sources of funding. While you can qualify for a conventional loan, with less than 20% down, mortgage insurance is likely to be required. These rates have increased in many cases as well. Mortgage insurance will increase the monthly cost of the loan of $ 75 or more based on your specific loan.

Read the rest of this entry »