I ruined my family’s finances by withdrawing from my 401(k) to buy a house – I regret it

I recently made a panic decision to withdraw all my money from one retirement account and I am now closing on a house in February (about $200,000). I am 36 years old, married and have a 1-year-old. Half of me is regretting it, and I’m worried about next year’s taxes due to the withdrawal and … Read more

First-time homebuyers face 3 uphill battles-but help is on the way, according to Zillow’s chief economist

For most families, a home is their single largest asset, a way to avoid the uncertainty of rising rents and ensure a more stable future by building and transferring wealth to their children. It’s why today, despite high prices and high mortgage rates, potential first-time buyers are still dreaming and searching for a home of … Read more

‘I’m paycheck to paycheck.’ I make $350K a year, but have $88K in student loans, $170K in car loans and a mortgage I pay $4,500 a month on. Do I need professional help?

I’m the first of my generation to own a home and the first to earn this much annually and don’t want to mess this up. How, specifically, can a financial adviser help me? Getty Images Question: By the end of 2022, I will have made $350,000 before taxes as the sole breadwinner and head of … Read more

The major county in America where home prices just dropped the most is …

Buyers may be starting to see home price drops in some areas. (Getty Images) Home buyers have watched as home prices marched upwards for the past few years, but now many of you will finally get some relief — at least in some spots. “Home price appreciation has slowed dramatically in most markets, and there … Read more

Flood Insurance Fell in Florida Before Hurricane Ian Struck

SANFORD, Fla.—Florida homeowners had reduced their flood insurance coverage in the years before Hurricane Ian dumped up to 15 inches of rain on the state, inundating coastal and inland areas. Only a small number of residences in two of Florida’s hardest-hit inland counties are covered by flood insurance. The percentage of  protected homes is higher … Read more

‘My friends and family say I’m rich.’ I’m 26 and make $100K a year living in St. Louis, where I pay $850 in rent. But I can’t afford to buy a home, and am losing money when I invest. Would hiring a financial adviser be a smart move?

Is a financial adviser needed if you feel overwhelmed about money? Getty Images/iStockphoto Question: I am a 26-year-old pharmacist earning approximately $100,000 a year — take home pay is about $5600 a month — living in St. Louis. I contribute 4% to my employer 401l(k), which is the maximum match. I currently have about $25,000 … Read more

Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties

Jack Cronin found San Francisco-area homes too expensive or too far from the city center to buy when he lived there in 2020. The tech worker still wanted a piece of the hottest housing market of his lifetime, so he started looking farther afield. Last year, the 28-year-old used a website called Roofstock, which provides … Read more

Mortgage prepayments have fallen 62% from a year ago. This is what that says about the housing market.

Ultimately, as long as buyers are able to keep up with their regular monthly payments, fewer people making extra mortgage payments probably isn’t going to have a massive impact on the broader housing market, explains one expert. AP Mortgage prepayment activity fell 19.1% just from March to April and 61.8% from a year ago, according … Read more

Good news for home buyers? Fannie Mae chief economist says the U.S. housing market has finally turned a corner. Here’s why.

The inventory shortage, high prices and rising interest rates have finally bitten. Single-family home sales fell sharply by 16.6% in April to a seasonally adjusted annualized rate of 591,000, according to Census Bureau data released Tuesday. That was the slowest rate of sales since April 2020 during the earliest days of the COVID-19 pandemic, offering … Read more