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Articles by Paul Underwood
Paradise Found
In the book of Genesis, the Garden of Eden is described as having “every tree that is pleasant to the sight, and good for food.” There, Adam and Eve are encouraged to freely eat from those trees (well, except the one), and commanded to “be fruitful, and multiply, and replenish the earth.” It’s a paradise of flowing rivers and beautiful flora and fauna, where that clothing-averse first couple lives “naked and unashamed.” Only one thing was missing: A disco ball.
We currently are renovating a small eight unit multifamily building and we are interested in converting some of the units into condos. We need advice please!!
appartment building insurance
Member since Jan 26, 2024 Posts 1 Votes 0 Investments 1 1 Posts 0 Votes Member since Jan 26, 2024 Posts 1 Votes 0 Investments 1 Paul UnderwoodPoster 0 Votes | 1 Posts I am a new investor here in Virginia. We have created a new LLC to invest in multiple family homes for growth and income in Virginia and surrounding areas. I am in negotiations to purchase a 8 unit apartment building and I am having a hard time finding affordable insurance to make this deal profitable.
The Escalating Cyber Threat to Healthcare in 2025
The healthcare sector, a cornerstone of societal well-being, finds itself increasingly targeted by sophisticated cyber adversaries. In 2024, the confluence of technological advancements, expanding digital footprints, and persistent vulnerabilities has created a perfect storm, resulting in unprecedented data breaches and operational disruptions.
When Brand Loyalty Trumps Data Security
COMMENTARY I'm a Marriott guy. I have been for a long time, and it's hard to imagine making a change at this point. So when I read about the Federal Trade Commission (FTC) ordering Marriott to overhaul its data security strategy recently, it got me thinking. Despite the US government making it crystal clear that this company I trusted with my data did a poor job protecting it, I still knew it would keep my business. Here in the US, we've become complacent when it comes to data breaches.
Why data protection is non-negotiable for every business Original
Every morning, I start my day by reading the news, and every morning, I see headlines about major cyberattacks and breaches causing damage to companies, brands, and people around the world. The barrage of attacks and the damage that goes with them are relentless. Attackers will always be on the lookout for soft targets, but my experience has taught me that implementing some basic yet powerful protections can shield most organizations from ransomware attacks and data breaches.
Current 10/1 ARM Mortgage Rates
Adjustable-rate mortgages, including 10/1 ARMs, come with an initial teaser rate that’s generally lower than the rate for conventional 30-year mortgage home loans, but there are considerations for the remainder of the loan term after that fixed-rate period ends. In this article, we at the MarketWatch Guides team explain how a 10/1 ARM works, who this real estate loan might be best for and how to compare mortgage lenders.
Fifth Third Bank CD Rates (November 2024)
Fifth Third Bank is the largest bank headquartered in Ohio and one of the largest in the country. It offers various deposit accounts, including certificates of deposit. Some of its CD offerings are better than others. If you are looking for a CD to grow your money, it’s essential to research first. That way, you can find the best place to earn interest no matter where you bank. Here’s how Fifth Third Bank compares to the competition.
Bread Savings CD Rates (November 2024)
Bread Savings is an online financial services company offering numerous products including certificates of deposit. The quality of these accounts, however, makes up for the lack of quantity. The Bread Savings CD rates are highly competitive and include some intriguing benefits not seen at other banks. If you save through a CD, you’re tying up your money for months or years. That’s why it’s important to properly compare your options before signing up.
State and local security adjusting to shifting cyber threats, insurance requirements
State and local governments are under the radar no more. Although security has always been taken seriously, many governments didn’t consider going as far as taking out cybersecurity insurance because they didn’t feel they were lucrative enough targets to attract the persistent attention of cyber threat actors. But any added sense of security from being perceived as relatively inconsequential targets is quickly eroding.
What Are the Best Accounts for Earning Compound Interest?
When you put money in common interest-earning deposit accounts, you can benefit from compound interest, which can grow your money faster than simple interest. That’s because you receive interest on both your contributions and the interest regularly added to the account. You can also earn compound interest on investments like bonds and bond funds when you reinvest the interest. In this article, we at the MarketWatch Guides team will compare types of compound interest accounts and investment options.
Huntington Bank CD Rates (November 2024)
A certificate of deposit can be an excellent way to grow your savings if the interest rate is high. Unfortunately, Huntington Bank CD rates come with a lot of variance. The bank’s promotional CD rates are competitive with online banks, but its standard rates are below the national average. Huntington Bank is the 20th-largest commercial bank in the US by asset size, according to the Federal Reserve. It’s a full-service institution with over 1,000 branch locations in the Midwest.
Truist CD Rates (October 2024)
Truist Bank is the 8th-largest commercial bank in the U.S. by asset size, according to Federal Reserve data. Its certificate of deposit terms range from 7 days to 5 years. Truist has special CD rates that are competitive with other banks, but its standard rates are well below the national average at 0.01% APY. Key Takeaways Truist Bank CD rates are 4% APY for 5-month terms, 3.75% for 12-month terms and 0.05% for all other term lengths.
Fidelity CD Rates (October 2024)
Fidelity is a brokerage firm offering brokered certificates of deposit for customers with a Fidelity brokerage account. Brokered CDs are bought through a brokerage firm such as Fidelity instead of a financial institution. The company has several types of CDs with varying returns and terms. Still, it’s important to compare the best CD rates and product features across institutions. Key Takeaways Fidelity CD rates are comparable to other brokerage firms with rates up to 4.55%.
Santander Bank CD Rates (October 2024)
Santander Bank offers two certificates of deposit: a 6-month term and a 1-year term. You must visit a branch to open all Santander Bank CDs as there’s no option to open them online. If you can meet these requirements, Santander Bank CD rates are competitive with some of the best on the market. Key Takeaways Santander Bank CD rates are 4% for a 1-year term and 4.5% for a 6-month term. All Santander Bank CDs have a $500 minimum deposit requirement.
How Much Are Home Equity Loan Closing Costs?
A home equity loan lets you use money from the equity in your home for a variety of reasons, such as home renovations or paying down high-interest debt. But home equity loans are not free and come with closing costs. In this article, we at the MarketWatch Guides team will explain closing costs and how much of an impact they have on home equity loans so you can make an informed decision.
American Express CD Rates
If you’re looking for the right place to open a certificate of deposit, online financial institutions often feature some of the most competitive annual percentage yields. Part of the New York-based American Express Co., American Express Savings Bank offers a limited selection of traditional CDs that have relatively accessible requirements and pay far above the national average. But before making a deposit, you should consider how Amex CD rates compare to competitors along with the important terms.
TD Bank CD Rates
A certificate of deposit can be a good way to earn a guaranteed interest rate on money you don’t need right away. TD Bank CD rates are competitive if you live in a state in which it operates and qualify for its relationship rate, which requires you to have an eligible TD checking account. TD Bank is the 10th-largest commercial bank in the U.S. by asset size, according to the Federal Reserve. Headquartered in Wilmington, Del., it has over 1,150 branch locations scattered along the East Coast.
What is the Difference Between Fixed and Variable Expenses?
Fixed and variable expenses are a part of every budget and managing both is crucial to your overall financial health. While fixed expenses won’t change much from month to month and therefore can be easy to budget for, you must account for the changing variable expenses you deal with regularly. In this article, we at the MarketWatch Guides team explore the differences between fixed and variable expenses and how to manage these costs so you can do more with your hard-earned money.
What's the Difference?
There is power in having both a checking and savings account. The former is for your day-to-day spending, allowing you to pay for groceries or other essentials with the swipe of a debit card. The latter is for growing your money over time, helping you save up for longer-term expenses or emergencies. They’re similar but different, and many people don’t fully understand the differences or benefits of each.
What Is a Debt-to-Income Ratio for Mortgages?
When you’re applying for a mortgage, lenders will typically look at information such as your debt-to-income ratio to understand your current financial position and ensure you don’t take on more debt than you can handle. Your DTI ratio measures the amount of debt you currently have compared to your income. Typically, lenders look for a maximum DTI ratio of 43%, meaning your debt amounts to 43% of your income, but it’s recommended to keep your DTI ratio at or below 36%.
Can a Mortgage Be Transferred to Someone Else?
Because it’s not feasible for most people to pay cash for a home, you usually need to take out a mortgage loan. In some cases, it might become desirable for the existing mortgage on a home to be transferred to a different person. However, that isn’t always possible.
What Is Mortgage Protection Insurance?
Buying a home is likely the biggest expense you’ll ever take on and your most important investment. But what happens if you can no longer cover the mortgage? That’s where mortgage protection insurance comes in. In this article, we at the MarketWatch Guides team will cover mortgage protection insurance, how it works to protect your beneficiaries and heirs, the process of adding and removing it, average costs and alternatives.
How To Shop For and Compare Mortgage Offers
Shopping for and comparing mortgage offers is crucial in securing a home loan. The process begins with preparing your financial documents and obtaining preapproval, which provides a clear idea of what you can afford. Once you have a range of offers, compare different loans against one another. In this article, we at the MarketWatch Guides team will help you understand the nuances between offers and find the most suitable mortgage option for your financial situation.
What Are Assumable Mortgages and How Do They Work?
With interest rates still elevated from before the COVID pandemic, buyers are looking for creative ways to save on their mortgages. One option is what’s known as an assumable mortgage, which allows the homebuyer to take over the original home loan terms — including their lower interest rates. In this article, we at the MarketWatch Guides team will look at how assumable mortgages work and which types of homes qualify.
What Is a Bridge Loan Mortgage and How Does It Work?
Typically, a bridge loan is used to purchase a new home before selling your existing property. If you’re considering a bridge loan, you should understand how it works, the benefits and risks of using one and how to effectively determine if this type of loan is right for your home-buying needs. Key Takeaways Bridge loans are short-term loans, primarily used to purchase a new home before selling your existing home.
What Is an Adjustable-Rate Mortgage?
Unlike fixed-rate mortgages, which have the same interest rate for the entire loan term, ARMs start with a lower interest rate that can fluctuate, making them less predictable over time. This change is typically based on a financial index, plus a set margin, both determined by the lender. In this article, we at the MarketWatch Guides team will explain what an adjustable-rate mortgage is, when it could make sense for you and how to maximize its benefits.
Reverse Mortgage Pros and Cons
Reverse mortgages can offer access to your home equity and supplement your retirement income, but they can also come with risks and drawbacks. Weighing the pros and cons is crucial for anyone considering this financial product. We at the MarketWatch Guides team are here to help explain what you need to know about the potential implications of a reverse mortgage for a secure and comfortable retirement.
What Is the Debt Snowball Method and How Does It Work? (2024 Guide)
If you’re looking to pay off debt, the debt snowball method is one popular strategy to help accomplish that goal. It entails paying off debts by starting with the smallest principal balance and working up to the largest, which helps provide motivation through positive reinforcement. In this article, the MarkeWatch Guides team outlines how this approach works, along with the advantages and disadvantages when compared to other strategies like the debt avalanche method.
How To Get a Mortgage Preapproval
Mortgage preapprovals can be essential for homebuyers, especially if you’re buying a home for the first time. That’s because they can help strengthen your offer on a property by showing sellers that you’re financially ready to buy. This guide covers critical preapproval information, such as the right time to get preapproved, the difference between preapproval and prequalification, and the documents you’ll need to provide.
What Is Mortgage Recasting and How Does It Work? (2024 Guide)
Mortgage recasting is a financial strategy that helps you reduce your monthly mortgage payments and the total amount of interest you pay over the life of your loan. With recasting, you apply extra funds toward your principal balance while keeping your existing interest rate. Unlike mortgage refinancing, recasting does not require you to apply for a new loan, which allows you to avoid expensive closing costs.
What Is Mortgage Underwriting and How Does It Work?
This guide will explain everything you need to know about the mortgage underwriting process, including insights into how it affects your mortgage application and what you can do to navigate it successfully. We’ll cover the key stages of underwriting, offer tips for smooth approval and discuss common reasons for loan denials. Key Takeaways Underwriting is the risk assessment process that lenders use to determine whether they should loan you money.
What Is a Reverse Mortgage and How Does It Work?
Living comfortably in retirement has long been financially challenging for seniors in the U.S. To cover increased expenses, many turn to the equity in their homes to increase their financial breathing room. One way seniors can tap into home equity is with a special type of financial product called a reverse mortgage. However, reverse mortgages can have considerable downsides when they’re not fully understood.
What Is a Mortgage? (2024 Guide)
Mortgages play a pivotal role in the journey toward homeownership, acting as a bridge for many individuals to purchase a home. The goal of this guide is to equip you with the essential knowledge you need to navigate the home-buying process with confidence. Key Takeaways Mortgages are a powerful and effective means of financing a home for most buyers and come in a variety of types. There are various fees associated with obtaining a mortgage, such as origination fees, points and closing costs.
How To Refinance Your Mortgage With Bad Credit
Refinancing your mortgage can allow you to secure a better interest rate or convert some of your home equity into cash. However, it can be harder to find a lender that offers refinancing if you have a poor credit score. Although it might take a little extra time, you can still find options that allow you to refinance despite a lower credit score. This guide will identify ways to refinance a mortgage with bad credit and help you determine which one is right for your financial situation.
What Is Private Mortgage Insurance and How Does It Work?
When shopping for mortgages, you might discover many lenders no longer require a traditional 20% down payment. That said, lenders still want some assurance you can and will repay your mortgage loan. That’s why, in most instances, lenders require you to carry private mortgage insurance if you are unwilling or unable to make a large down payment. Key Takeaways Private mortgage insurance protects your lender in case you do not repay your mortgage loan.
How To Shop for a Mortgage Without Hurting Your Credit (2024 Guide)
A mortgage will likely be your biggest monthly expense and could be with you for decades, so you’ll want to compare mortgage offers from multiple lenders to find the lowest possible rate. But if you aren’t careful, shopping around could negatively affect your credit score. Understanding and having a game plan for how to shop for mortgages can prevent unnecessary dings to your credit score.
VA Home Loan Requirements (2024 Guide)
If you’re a veteran, an active-duty service member or an eligible surviving military spouse, the path to homeownership can be made easier through U.S. Department of Veterans Affairs home loans. With no or low down payment requirements, no private mortgage insurance and other perks, VA home loans turn the dream of owning a home into a reality for countless military service members every year.
What Is Mortgage Prequalification and How Does It Work? (2024 Guide)
If you’re a prospective homebuyer or will be soon, a mortgage prequalification can be a handy tool to provide clarity at the start of your home-buying journey. Lenders offer this free resource to give you an idea of how much home you can afford, what your mortgage rate might be and how much your monthly payment might cost. We at the MarketWatch Guides team take a look at how to get a mortgage prequalification and how it can help you in the home-buying process.
What Are Construction-To-Permanent Loans and How Do They Work?
Building a new home can be tricky to finance. You need money to buy the land, and to pay for permits, architectural plans, infrastructure and materials to build the house — all before the lender has any collateral to back up a mortgage loan. Construction loans are an option, but you will have to repay the construction loan and then apply for a separate mortgage after your home is built.
First-Time Homebuyer Tax Credit (2024 Guide)
Federal and state tax credits might be available to help you save money and cover home-buying expenses. However, because the laws and rules are subject to change over time, it can be challenging to know which options are available. If you’re a new homeowner or are considering buying a home, here’s what you need to know about state and federal first-time homebuyer tax credits along with tax deductions available to homeowners and other assistance options.
How To Get the Best Mortgage Rate (2024 Guide)
Key Takeaways The cost of a mortgage is more than just your monthly loan payment — in addition to the principal amount, interest, taxes and insurance are also part of your monthly payment There are a variety of mortgage loan programs to help make homeownership accessible Having a good handle on your finances can make you a confident buyer Current Mortgage Rates Historical Mortgage Rate Trends How To Choose a Mortgage Lender Types of Mortgage Loans and Refinances How To Get the Best Mortgage...
How Much Does It Cost To Refinance Your Mortgage? (2024 Guide)
Key Takeaways Refinancing closing costs typically range from 3% to 6% of the total loan amount. No-closing-cost refinancing might save money upfront, but could result in higher long-term costs. Calculating the break-even point can help you decide if refinancing is worth the cost. Current Mortgage Rates Historical Mortgage Rate Trends How To Choose a Mortgage Lender Types of Mortgage Loans and Refinances How To Get the Best Mortgage Rate What Is a Mortgage Rate Lock?
What Are FHA Loans and How Do They Work? (2024 Guide)
Last Updated: Aug 23, 2024 FHA loans are backed by the Federal Housing Administration and are designed with a clear purpose: to make homeownership more accessible, especially for first-time homebuyers. This guide will provide you with an overview of the requirements and qualifications for FHA loans, their benefits and limitations, how they compare to conventional mortgages and more.
What Is a Jumbo Mortgage? (2024 Guide)
Key Takeaways Larger loan amounts: Jumbo loans are larger than most mortgages and allow you to buy more expensive properties. Limits can vary: In most areas, a jumbo loan is any mortgage that exceeds $766,550, but some areas have higher limits. Higher eligibility requirements: You typically need a higher credit score and a bigger down payment to qualify for a jumbo loan.
How To Get the Best Mortgage Rate (2024 Guide)
Key Takeaways A high credit score is crucial for securing the best mortgage rates. Increasing your down payment can also significantly lower your mortgage rate. It’s essential to compare rates from multiple mortgage lenders and loan types to find the best fit for your needs. Tactics such as buying mortgage points and taking advantage of rate locks to manage fluctuating market conditions can help you get the best mortgage rate.
What Is an FHA Construction Loan and How Does It Work?
An FHA construction loan combines key features of both basic mortgage loans and construction loans. An FHA mortgage loan is a home loan insured by the federal government that you use to purchase an existing home. You will use a construction loan if you want to build a new home. FHA construction loans finance the construction phase and then convert to a regular mortgage loan once the home is completed.
What Is a Mortgage Modification and How Do I Get One? (2024 Guide)
If you’re facing financial hardship and having difficulty making your mortgage payment each month, you might want to pursue a mortgage modification. It’s an option that could help you avoid foreclosure by adjusting your payments to make them more affordable.
What Are Closing Costs and How Do They Work?
Sellers and buyers pay for different closing costs, but depending on the real estate market, you might be able to negotiate. Average closing costs are usually between 2% and 5% of the purchase price. Here’s how to prepare for closing costs when you buy or sell a home. Key Takeaways Closing costs are mandatory fees associated with buying a home. Buyers and sellers pay closing fees, usually 2% to 5% of the purchase price.
How To Get a Mortgage While Self-Employed
When you apply for a mortgage as a self-employed borrower, you’ll likely need to provide additional paperwork to prove your income. Unlike a traditional full-time employee, a business owner, freelance employee, gig worker or independent contractor might be required to submit business statements and recent business tax returns to a lender. You also generally need at least two years of self-employment history to qualify.
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