No Down Payment Vs Low Down Payment Mortgages

Down payment definition Down payment is the initial amount a buyer pays toward the purchase of an expensive good or service. Certain items such as cars or home usually require huge amount of cash outlay to buy. It is unusual that many people will not be able to afford hundred per cent payment. For this reason, the seller may allow the buyer to pay a portion of the full amount so that he can take the delivery of the good or service. The balance amount will need to be financed by the seller while the buyer pays back the principal Continue ReadingNo Down Payment Vs Low Down Payment Mortgages

Are You A First Time Home Buyer? Read This

As a first time home buyer, there are many things you should know so that you can avoid some unnecessary mistakes. Of course, you don’t need to know everything but there are certain basic things every first time home buyer should know so that they don’t learn their lessons in a hard way. Home buying process can totally be strange to you as a first time home buyer but with the free information available on the internet, there are certain things you can learn without the need to pay for them. If you are planning to buy a home, it Continue ReadingAre You A First Time Home Buyer? Read This

Bad Debts Vs Good Debts

What debts are bad debts? Can there be good debts at all? I know that the topic of this article can be confusing to some people. The decision whether certain debts would be described or categorised as bad debts or good debts will be taking out of accounting or business context. We are going to be looking at it in the perspective of personal finance. To accountants, bad debts will mean the debts which cannot be recovered from customers. But that is not the meaning we shall be focusing on. The debts here are not the amounts that other people Continue ReadingBad Debts Vs Good Debts