Homeowner Education

The latest news, tips, and tricks for homeowners

Upside down

Upside down describes the situation when you buy something on credit and now owe more for it than it is worth.

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Truth in Lending Act

Truth in Lending. The Truth in Lending Act (TILA) protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to

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Settlement Statement

A settlement statement is a document given to borrowers at closing that itemizes services and fees charged to the borrower by the lender or broker.

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Reserve Fund

A reserve fund is a savings account or other liquid asset managed by a condominium, business or individual for anticipated future expenditures, such as major

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Recession

A recession is a significant, widespread decline in economic activity lasting more than a few months. Experts define this period as two consecutive quarters of

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Property-Assessed Clean Energy

PACE financing is a means of financing energy efficiency upgrades, disaster resiliency improvements, water conservation measures, or renewable energy installations of residential, commercial, and industrial

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Non-liquid Asset

Assets are classified as either liquid or non-liquid. A liquid asset can fairly quickly and easily be turned into cash, while a non-liquid asset cannot.

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Net Worth

Net worth is a measure of wealth. Net worth is the sum of all assets owned by a person or a company, minus any obligations

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