With 2019 just a blink away, it’s time to start thinking about those resolutions – promises to ourselves to achieve certain goals and objectives. For homeowners, this is the perfect opportunity to ask yourself, “how can I get the most out of my property?”.
Here are the top 5 New Year’s resolutions every homeowner should make for 2019:
1. Score Homeowners Insurance Discounts
Did you know that certain home improvements may qualify you for a discount on your homeowners insurance? It’s true! Here are just a few examples:
- A monitored burglar system
- New electrical wiring
- Being a non-smoker
- Replacing broken pipes
If you’ve made improvements to your home within the last year, you’ll want to check with your insurance agent about scoring some discounts in 2019!
2. Pay Your Mortgage On Time
With everything life throws at us, who has time to stress about late payments? Take control of your financial life this year and ensure that your mortgage payments are always on time.
Autopay is a great way to accomplish this – just set it, and forget it! Benefits of Autopay may include:
- Peace of mind, knowing you won’t miss a payment
- Avoiding processing fees & late penalties
- Making a positive impact on your credit score
Making on-time payments will truly give you a gift that’ll last throughout the new year. Set up Autopay for your Carrington account today!
3. Make Extra Mortgage Payments
Do you dream about the day you write your last mortgage check? Depending on your current financial status and goals, you may want to consider making extra mortgage payments either every month or a few times a year to help you make that dream a reality faster. Some benefits of paying a little extra include:
- Save on interest dollars
- Build equity faster
- Pay off your home sooner
The more you can contribute to your monthly payments, the better. Even just a few extra dollars a month can add up to make a difference in the long-run.
4. Review Your Property Tax Assessment
Check the value of your home to see if it has declined in value. If so, you may be able to save some money on your property taxes. Some ways to get started include:
- Gather details of your property, including square footage, zoning, and amenities
- Find out what your neighbors pay
- Hire an appraiser
Check your local property tax assessor’s website for more information about property assessment, dates, and appeals.
5. Refinance Your Mortgage
Refinancing your mortgage could potentially decrease your monthly payment and/or lower your interest rate. Who wouldn’t want that? Oftentimes, homeowners are able to reduce their payments AND get cash out!
Cash out is a popular option for those with equity in their home. A cash out refinance can help fund things like:
- Paying off credit cards
- Home repair/renovations
- Taking a vacation
See if you qualify! Give us a call today at 855-214-8780, and let’s discuss your options.
Resolve to make 2019 the year you focus more on your home. Happy New Year!
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IMPORTANT BANKRUPTCY NOTICE: If you have been discharged from personal liability on the mortgage because of bankruptcy proceedings and have not reaffirmed the mortgage, or if you are the subject of a pending bankruptcy proceeding, this letter is not an attempt to collect a debt from you but merely provides informational notice regarding the status of the loan. If you are represented by an attorney with respect to your mortgage, please forward this document to your attorney.
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NOTICE: All loans are subject to credit, underwriting and property approval guidelines. Offered loan products may vary by state. There is no guarantee that all borrowers will qualify. Restrictions may apply. This is not a commitment to lend. Terms, conditions and programs are subject to change without notice. Carrington Mortgage Services, LLC is not acting on behalf of or at the direction of HUD/FHA or any government agency. All rights reserved.
The consumer may be able to reduce their monthly payment by refinancing, however, the consumer’s total finance charges may be higher over the life of the loan.