Thursday, July 29, 2021 / by Steve Ticknor
Mark Twain famously said "Buy land. They're not making it anymore." The Balance says that buying real estate is a good way to round out your investment portfolio, especially for the long term. One of the reasons is because you can build equity in it from the moment you take ownership in most cases. How does that work? Is it possible to boost it even more? The answers to these questions and more can be found below.
How Does Equity Work?
What Is It?
First of all, it helps to know what it is. Basically, experts define equity as the difference between what you owe on your mortgage and your property's current market value. When you originally purchased your property, you included a down payment. That ranges anywhere from 3% to 20%. Let's say you paid $120,000, with 10% as your downpayment. At the time, you bought your Lake Havasu home for the fair market value of $120,000. That means that your equity at that time was $12,000.
As time went on, your mortgage balance went down as your fai. ...
Thursday, February 25, 2021 / by Steve Ticknor
Do you own a home in Lake Havasu? Do you struggle to make ends meet each month? Does your property need repairs due to safety concerns but you cannot afford to make them? The City of Lake Havasu wants to help. So, they created the Community Development Block Grant (CDBG) Program for low-income Havasu homeowners.
Help for Low-Income Havasu Homeowners Available Now
What is the Community Development Block Grant (CDBG) Program?
The CDBG program provides funds to Havasu homeowners to complete health and safety-related repairs to their properties. Applicants must meet certain income requirements and other conditions in order to qualify. These repairs include things like weatherizing, replacing an old air conditioning unit, or making repairs/replacing an old roof.
All Havasu homeowners who meet the following requirements may be added to the current waiting list:
Household income must fall below guidelines (see below).
Property exists inside the Lake Havasu City limits. ...