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
Thursday, May 23 2013 7:32 AM EDT2013-05-23 11:32:32 GMT
As we celebrate Memorial Day weekend, we'll pause to remember the men and women who died while serving in the U.S. Armed Forces.
As we celebrate Memorial Day weekend, we'll pause to remember the men and women who died while serving in the U.S. Armed Forces. It's also a great time to thank veterans for their service to our country—veterans just like World War II American hero Lew Fern.
Thursday, May 23 2013 7:31 AM EDT2013-05-23 11:31:33 GMT
You've probably been to a yard sale or two in your life, and you might have found some great deals. But would you know how to get the most out of your own yard sale?
You've probably been to a yard sale or two in your life, and you might have found some great deals. But would you know how to get the most out of your own yard sale? Good Day's Tacoma Perry talked to an expert who shared some great tips for how to make your yard sale a huge hit.
Thursday, May 23 2013 7:27 AM EDT2013-05-23 11:27:37 GMT
Summer in Georgia means mosquitoes—and lots of them. Even if you're just stepping outdoors for a few minutes, you need to protect yourself. But how do you pick the right bug repellent?
Summer in Georgia means mosquitoes—and lots of them. Even if you're just stepping outdoors for a few minutes, you need to protect yourself. But how do you pick the right bug repellent?
Wednesday, May 22 2013 10:37 AM EDT2013-05-22 14:37:15 GMT
You've seen us handing out Good Day Gas Money for weeks now, and Gurvir and Karen have met plenty of those lucky winners in person.
You've seen us handing out Good Day Gas Money for weeks now, and Gurvir and Karen have met plenty of those lucky winners in person. But Paul turned up the heat when he enlisted the help of two actresses from the new movie Operation Heat to play a little prank on his unsuspecting coworkers.
Wednesday, May 22 2013 10:30 AM EDT2013-05-22 14:30:53 GMT
Does your summer road trip include mouth-watering stops at mom-and-pop eateries? Ours does, and it'll be even better with the help of a new Southern Living book!
Off the Eaten Path: Second Helpings is dedicated to finding the best meals in the south-- and it features some great restaurants right here in north Georgia. Good Day's Paul Milliken checked out two of those gems-- The Hil in Serenbe, and Weaver D's in Athens! As usual, he didn't leave hungry.
Wednesday, May 22 2013 10:17 AM EDT2013-05-22 14:17:14 GMT
The new season of Masterchef features a local contestant from the metro area! Jessie Lysiak is from Social Circle, and she's about to make her big debut on the hit FOX show.
The new season of Masterchef features a local contestant from the metro area! Jessie Lysiak is from Social Circle, and she's about to make her big debut on the hit FOX show. But first, she stopped by Good Day to cook us up one of her favorite recipes.
Wednesday, May 22 2013 9:56 AM EDT2013-05-22 13:56:24 GMT
Americans are known for their pearly whites, but we pay for it—and it isn't cheap.
Americans are known for their pearly whites, but we pay for it—and it isn't cheap. If you have more than one child who needs braces, you have quite an expense on your hands—but FOX 5 I-Team reporter Dana Fowle found some ways to make it a little more manageable.
This week's Good Day Casting Call is loaded with opportunities! Whether you're a jock, a hipster, or a funky-looking worker (WHAT?), there's a job on the big screen for you!
This week's Good Day Casting Call is loaded with opportunities! Whether you're a jock, a hipster, or a funky-looking worker (WHAT?), there's a job on the big screen for you!
Our own Katie Beasley is about to get hitched! She's finally finished planning her big day, and she did lots of it herself. She let us in on her DIY secrets on Good Day!
Our own Katie Beasley is about to get hitched! She's finally finished planning her big day, and she did lots of it herself. She let us in on her DIY secrets on Good Day!
Thursday, May 23 2013 7:31 AM EDT2013-05-23 11:31:33 GMT
You've probably been to a yard sale or two in your life, and you might have found some great deals. But would you know how to get the most out of your own yard sale?
You've probably been to a yard sale or two in your life, and you might have found some great deals. But would you know how to get the most out of your own yard sale? Good Day's Tacoma Perry talked to an expert who shared some great tips for how to make your yard sale a huge hit.
Wednesday, May 22 2013 12:39 PM EDT2013-05-22 16:39:03 GMT
Gov. Nathan Deal says a company based in Dubai plans to build a manufacturing plant in Murray County with the goal of creating 200 jobs over the next three years.
Gov. Nathan Deal says a company based in Dubai plans to build a manufacturing plant in Murray County with the goal of creating 200 jobs over the next three years.
Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.
After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr...
