Keep your mortgage so you don’t lose your housing allowance and mortgage interest deduction! How many times have you heard that advice? A reader recently asked me about it. Is that really good advice? I know for most people, keeping…
Additional principal payments are qualified expenses for the clergy housing allowance, but they are subject to limitations.
A look at how the clergy housing allowance works and why you can still claim it even without a mortgage.
I’ve always assumed I had good credit based on my behaviors, but I never knew my credit score. Then, we bought a house 6 years ago and had to apply for a mortgage. The mortgage broker was downright giddy when…
When the Federal Reserve slashed interest rates to near zero in response to the coronavirus crisis, everyone decided that it was a perfect time to refinance their mortgage. There were so many refinance requests that lenders had to artificially raise…
A look at what a reverse mortgage is, how do they work, and when they would be used. Then, do they really deserve the terrible reputation that they have?
Dear Pastor’s Wallet, My only debt is my mortgage, a 30/5 ARM with 23 years remaining. I am saving 15% of my pre-tax income toward retirement, have an emergency fund and am saving towards large expenses like my kids’…
Merry Christmas! For the last post of the year, I thought I’d do a recap of the 10 most popular posts of 2017, in case you missed one of them. Here they are, in order of popularity:
As a pastor, one of your greatest earthly rewards is the clergy housing allowance. Though it’s nothing compared to the rewards you’re piling up in heaven, it is definitely something that should not be overlooked. Here are some things…
I recently received a message from a reader wondering what she should do with her extra income. Should she put the extra into retirement or towards paying off her house early? She was having a disagreement with a family member…
It can be so frustrating watching other people make mistakes when you know better. In this post I go through several mistakes that I have personally witnessed in hopes that it will help you avoid them and their ugly consequences.
Estimated mortgage payments listed on popular websites can be very misleading. Mortgage payments consist of a lot more than just principal and interest.