Home Owning

Home Finances

When readers ask Monty about home finances, they are not asking about the household budget. Readers ask Monty when they are contemplating refinancing, or taking out a second mortgage to buy a vacation home. They ask about what to do because they are behind on their payments or are considering walking away from their home because it is “underwater.” There are hundreds of different financial situations involving mortgages, loan denials, appraisals gone sour and lost documents, just to name a few.

What will Monty advise? Every family’s circumstances are unique and, therefore, some seemingly small detail may affect Monty’s suggestions.

While it is helpful to read what others have dealt with, being certain your situation does not contain some small detail that differentiates your issue with another reader’s issue is paramount. If you have a question, just Ask Monty.

  1. Is there any way to use real estate equity to fund a startup?

        Reader Question: I am pursuing a business startup that compliments my family’s existing construction business. I have a little funding myself and some customers. I need to raise additional capital to grow and deliver the best service possible. My family business has shown interest in investing/loaning me some funds for developing this startup. […]

  2. My grandparents chose to die with no will. Do these three sisters have the right to sell timber and leave the grandchildren out?

      Reader Question: My grandparents chose to die with no will. All their children passed except three sisters. My mother and several siblings passed. One of the grandchildren has been paying taxes for years, and another has been paying electricity. Do these three sisters have the right to sell timber and leave the grandchildren out? […]

  3. My real estate taxes doubled. Is this legal?

      Reader Question: My real estate taxes went up over 100% this year. Is it legal to raise taxes so high in one year? Monty’s Answer: For real estate taxes to double in one year would be extremely rare. One has to wonder if any community in the United States has ever experienced such a […]

  4. Is a full-time house sitter a good idea?

    Reader Question: We have a chance to take a six-month trip to Australia. We have always cared for our home ourselves. We have several pets, yard work, maintenance items and other responsibilities. Is a full-time house sitter a good idea? Monty’s Answer: The internet has allowed the advance of this business model which has fueled […]

  5. We are in our late seventies. We have decided we want to stay in our home. Our children keep hinting that we find another option. Do you have any advice?

    Reader Question: We are considering aging in place. We are in our late seventies and both in pretty good health. Our children keep hinting to us that we should sell our house and move into some age-based community. We have checked out some different options, of which there are many, and it seems they all have […]