“Talk of joy: there may be
things better than beef stew and baked potatoes and home-made
bread -- there may be.”
-Ray Stannard Baker (under penname David
Grayson), 1870-1946, Journalist and Author, Adventures in Contentment
Tip
Of The Month
If you are considering
buying a new house, but are concerned about selling your old one,
a bridge loan might be the solution. A bridge loan can cover the
gap between the two transactions. A typical bridge loan might
be structured like this:
• The bridge loan is used to pay off the existing mortgage.
The remaining money (minus six months’ prepaid interest
and closing costs) will be used as a down payment on the new house.
• Bridge loans typically have a term of one year.
• When you sell the old home, the bridge loan will be paid
off. If it is sold within six months, any unearned interest payments
will be credited back to you.
• If the old home is unsold after six months, you will
begin making interest-only payments on the loan.
• The mortgage on the new home must be financed by the
same lender through whom you have the bridge loan.
Do you want to host a Labor Day party but are stuck on how to
make it fun? Instead of your standard backyard barbeque, try hosting
a Labor Day Luau! Ask guests to come in their Hawaiian best –
Hawaiian shirts, sarongs, sandals, even grass skirts! Decorate
your house or your backyard with fake flowers and other island-themed
items you can find at any party store. Greet every guest with
a lei and provide themed food, such as teriyaki chicken skewers,
grilled fish, strawberries, coconut cream pie and chocolate-dipped
bananas. Throw in some Hawaiian music and it will be a Labor Day
to remember!
