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Other People’s Money for College

By on July 24, 2017

Consider the goal of funding a child’s college education in the future. If “other people’s money” in the form of a scholarship is not a possibility, there still may be another way to use some “other people’s money.” A $25,000 investment into a mutual fund paying 5% would earn $1,250 in the first year. Alternatively,…

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Assumptions are an Alternative

By on July 17, 2017

In the late 80’s, both FHA and VA began requiring buyers to qualify to assume their mortgages. The main reason there haven’t been many assumptions in the past 25 years is that interest rates have been steadily going down and if a person has to qualify, they might as well do it on a new…

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Winter Park Jazz Festival

By on July 12, 2017

One of the most amazing things about being a Grand County resident in the summer is being able to take advantage of so many incredible music festivals. The 35th annual Winter Park Jazz Festival is this weekend. Do you have your tickets yet? This year's headliner is Charlie Wilson. Want to learn more and see…

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Family & Friends Mortgage

By on July 11, 2017

Anytime a lender and borrower can agree on rates and terms, it can be a good match but IRS has specific rules that govern the transaction especially when the parties are family or friends. The loan must be done in a business-like manner with a written note specifying the loan amount, interest rate, term and…

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Down Payment Problem – Are You Sure?

By on July 3, 2017

There is increasing difficulty for first-time home buyers to save for their down payment as indicated in the graph. Several factors that contribute to this trend include rising rents, rising home prices, student loan debt and flat wages. Some would-be buyers feel they cannot buy a home today but a large part of those decisions…

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Don’t Have a CLUE?

By on June 26, 2017

If you haven’t heard of a CLUE report, it has nothing to do with the table game searching for a murderer. It is a report showing the insurance claims on your home and car for the past five to seven years. This database is used by insurance companies to evaluate risks and determine rates. C.L.U.E.…

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Emergency Kit for the Car

By on June 19, 2017

Mickey Mantle said “If I knew I was going to live this long, I’d have taken better care of myself.” Similarly, if people planning their summer travel knew they were going to have an emergency, they would have the right things available. Only 5% of drivers carry all recommended emergency supplies in their cars. The…

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What Can You Expect?

By on June 12, 2017

Businesses must treat customers fairly if they expect to do business with them again or get recommendations to their friends. Customers of stores like Nordstrom’s understand that a salesperson is an employee and represents the company. The line becomes less clear in some industries, especially ones that involve real estate. Agency is a legal relationship…

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Hands-Only CPR

By on June 5, 2017

Hands-only CPR can save lives. The American Heart Association states that "Almost 90% of people who suffer out-of-hospital cardiac arrests die. CPR, especially if performed in the first few minutes of cardiac arrest, can double or triple a person's chance of survival." Most people who survive a cardiac emergency are helped by a bystander. Check…

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