Articles Posted in Buying a home

stockfresh_5943479_african-american-family-with-ghosted-house-drawing-behind_sizeS-300x200

People still want to own a house. This is a part of the American Dream and is a symbol of success. Many are nervous about buying a home and no one can blame them. The cost may be a financial wellness challenge.

The Significant Cost

A house is one of the largest, if not the largest, expense an average person will have. The down payment required for a home mortgage can be 5% to 10% and the sum may be in the five figures. The house mortgage will need a financial commitment of up to 30 years and is a monthly expense.

Real estate operates in an environment all its own. There are activities most people do not understand and the means to control costs are confusing. Few people want to risk their financial wellness and therefore delay buying a property. That can be a mistake in some markets where prices are going up. Countrywide Pre-Paid Legal Services appreciates the problem home-buyers face. We have a Financial Wellness benefit that can help. Continue reading

01the-importance-of-a-comprehensive-legal-plan-article-4102-thumb-320x210-86253-thumb-320x210-86254-300x213

Pay raises and promotions will increase an employee’s income. Extra money is always welcome, but is it enough? The financial wellness of an employee can be a paycheck to paycheck experience. It helps when people know their budget and understand their financial worth.

The Need for Budgets

Few employees choose to be financially irresponsible. Most know the importance of budgeting but do not understand the mechanics. A young employee might develop a tight budget with every penny allocated to a specific expense. An emergency will throw that kind of budget into chaos. An older employee might not contribute to his or her HSA or 401(k) program. A hefty medical bill will cause nightmares and poor retirement planning makes the golden years bitter.

Future purchases will require putting money aside. An individual must save for down payments on a house and figure out how to pay a monthly mortgage. Money matters can be confusing, and some assistance is appreciated. Countrywide Pre-Paid Legal Services has a Financial Wellness Plan that makes sense of a person’s budget and financial worth. Continue reading

stockfresh_1345661_happy-family-near-new-house_sizeS-300x200

Buying a home is exciting and when an employee finally is making enough money that person can take the great step forward. The first-time home buyer may be a little anxious. After all, this is the most expensive purchase most people will make in their lifetime. No one wants to make a mistake which jeopardizes financial wellness.

The World of Real Estate

The real estate industry is an open market. You can buy the house you can afford or take a risk on one that is more expensive. You have the choice. The downside is purchasing real estate can be complicated.

There are terms used only in the property arena and conditions that only arise in real estate. Financing a house purchase can be confusing. Not everyone knows about points, FHA requirements, or payment schedules. Some prior education is helpful. Countrywide Pre-Paid Legal Services has a financial wellness benefit that offers sound house buying advice. Continue reading

stockfresh_121705_tax-calculator-and-pen_sizeS-300x199

Financial wellness is an honest concern in many households. Our overuse of credit cards will increase personal debt and double-digit interest rates add to the bill. Sudden medical emergencies and the monthly payment of college loans will eat up a paycheck. Being nervous about financial wellness appears to be the modern way of life. It doesn’t need to be that way at all. Countrywide Pre-Paid Legal Services is here to give needed help.

It Starts with a Budget

Recent college graduates and Millennials are very tech smart; there is no question about that. But being digitally bright does not mean having any understanding of finances

Young employees spent college years worrying about grades. A personal budget was something to worry about after graduation. These new employees are now in the real world and having trouble juggling finances. Continue reading

stockfresh_479551_house-in-hand_sizeS-300x200

Young employees want to buy a house. Being able to have a home in which to raise a family is something they all want, and it is a dream they wish to see come true. Many are concerned, however, that they may not be able ever to own a house. An organization that helps its employees in purchasing a house will gain the respect and loyalty of those hard workers.

Finding the Resources

The purchase of a house is the largest financial investment most people are going to make in their careers. It is understandable that an employee might worry about financial wellness, knowing that a mortgage can be hundreds of thousands of dollars and the commitment is for decades. The anxiety can make anyone hesitate. Countrywide Pre-Paid Legal Services has been helping organizations provide superior benefits to employees for over 30 years. We have a benefit plan that can help anyone realize the dream.

We provide financial wellness services through a nationwide network of certified counselors. These are professionals who understand how a person should get ready for buying a house. Finding the resources to afford a mortgage is not as difficult as it appears. A Countrywide counselor will do a budget analysis to determine how a plan member can pay for the mortgage. This may include readjusting existing payments so that enough cash is made available. The counselor can also do an asset inventory. The inventory uncovers what holdings can be easily sold to allow a reasonable down payment. Continue reading

stockfresh_3231743_man-putting-coin-into-small-piggy-bank_sizeS-300x200

Management wants good benefits for employees. Decision-makers know these services improve morale, boost productivity, and improve retention rates. Executives are concerned that employee benefits have a good return on investment. A comprehensive financial wellness plan can provide excellent benefits for the entire workforce. Countrywide Pre-Paid Legal Services offers a plan.

Something for Everyone

Workforce demographics are important, and the Countrywide plan has options that can be particularly useful for various groups. New college graduates must find ways to manage their college loan debts. We have a benefits option that addresses the college loan problem. Older employees confront medical bills that easily get out of control. We will help them manage the debt with suggestions on how to negotiate with healthcare providers. Millennials may want to buy a house and don’t know how to purchase one. The Countrywide Financial Wellness Program has a self-study course to educate a first-time home buyer.

Everyone Benefits

Countrywide has a nationwide network of certified counselors who provide the service. Standard Countrywide benefits will include a budget analysis. It will help plan members understand where the money is coming from and where it is going. The counselor will also give suggestions on how to save for major expenses. Sensible financial planning includes knowing a person’s full value. We will do an asset inventory for the financial wellness plan member, allowing that person to fully appreciate his or her holdings. Continue reading

stockfresh_479551_house-in-hand_sizeS-300x200

It isn’t too early to plan for buying a house. Spring is the big season for house purchases and right now is a great time to organize finances. This is a major challenge for many first-time shoppers.

The house is often the most expensive acquisition an employee will make. This is a long-term commitment and personal budgets will be stretched. The ability to pay and the individuals overall financial wellness are primary pondering points. Countrywide Pre-Paid Legal Services wants to help. We believe that the house buying process is bewildering to some folks and we have a benefit designed to assist shoppers.

Viewing the Buying Course

“Make Your Move” is the Countrywide self-study program for house buying. Real estate jargon is not always easy to understand, and the terms are confusing. How to work with a real estate agent, what qualifies a person for FHA financing and what to expect at closing are some of the topics covered. Continue reading

We Educate People on House Purchases

stockfresh_2142927_family-holding-a-sold-sign-outside-their-home_sizeS_62ad93-300x200

 

It is only natural for a person to dream of buying a house. It is something every consumer would like to have: a place to set down roots and raise a family. Homeownership is not out of the question but for some people it can be a challenging experience. This is particularly true of Millennials who may be buying their first home. There’s so much to go into the decision and financial wellness can be affected. Anyone would be a little bit nervous.

Buying a House Can Be Confusing

The process of buying a house can be an anxiety minefield for the first-time buyer. There are so many options as far as the financing of a home, and the buyer may not be sure what to look out for in the process. What type of advice is honest and which advisers are ethical? A lot goes to a person’s mind and lack of knowledge hurts. Countrywide Pre-Paid Legal Services appreciates the dilemma a person can be in. One of the options in our financial wellness program is a course on how to buy a house. This is the kind of education many people need. Continue reading

Knowledge Can Save a Buyer Thousands of Dollars

stockfresh_2142927_family-holding-a-sold-sign-outside-their-home_sizeS_62ad93-300x200

 

It is possible that the new tax reforms will change the housing industry. Changes in tax deductions can cause more people to rent, causing the price of housing to drop. It means that the house is no longer a financial investment but a home. It can cause a change in attitude for a lot of people because they may have to hold onto a house longer than they originally thought. Purchase of a house, therefore, becomes a long-term investment.

The house is also the largest investment most people will make in a lifetime. It is more complicated than a retail transaction. There are mountains of paperwork and procedures involved in the purchase. Not everybody understands how to qualify for a loan, but it is a very important part of the financial wellness issue. It also is true that some of the actors in the home investment process are not committed to helping people. We provide education to help homebuyer be a smart shopper. Continue reading

People should know about the value of their holdings

stockfresh_5140310_business-still-life_sizeS-300x200

 

Assets are going to change in a working career. It is not just collectibles but financial matters such as insurance, stock investments, annuities, and other important things that pertain to financial wellness. It happens too often that these gather dust. A person might not remember having an E*TRADE account or a small life insurance policy that is paid up. These are all important things to know to have a healthy financial wellness position.

Knowledge is important, and awareness is critical. Anyone who is drafting a will must realize the lawyer will require an idea of what the assets are. Lending institutions will determine if a loan will be authorized based on the assets of the individual. Countrywide Pre-Paid Legal Services knows that many people are not fully aware of what their full value happens to be. We have an asset inventory management program to allow people to know what it is they own. Continue reading