There can be a lot of excitement when it comes to the realization that you've inherited a home, but simply because it's an inheritance doesn't mean there aren't a few strings attached. Whether you're expecting to be gifted with a home in the future or you're currently going through this process, here are a few things you may need to watch out for.
Bi-weekly or Monthly Mortgage Payments – Which is better?
When you apply for a new mortgage, your lender may ask if you want to set up monthly payments or bi-weekly payments. At one time, monthly payments were common, but bi-weekly payments are increasing in popularity. This is because they break a large expense up into two smaller and seemingly more manageable payments. In addition, you can also make what equates to a full extra payment on the mortgage each year with a bi-weekly payment structure. Before you decide which is best for you, consider a few factors.
