Four Ways to Help you get Out of Debt in 2019

Four Ways to Help you get Out of Debt in 2019

Dealing with debt can be overwhelming and straining on your finances. If it is your goal to be debt free in 2019, take a look at our top tips.

  1. Set a Firm Budget – First and foremost, evaluate your income, debt and expenses, then set a firm budget using those numbers. This is a great way to figure out exactly how you’re currently spending your money, and where you are being frivolous, to help know where to make adjustments. If your income doesn’t cover your expenses, it may be time to consider asking for a raise at work, taking on a second job, or adjusting your lifestyle to live below your means and focus on paying off debt.
  2. Use the “Debt Snowball” Method – If you haven’t heard of this debt reduction strategy, the debt snowball method presented by money management expert Dave Ramsey provides a plan to pay off debts in order of smallest to largest, then as debts are paid, rolling that money into the next smallest balance. Here’s Ramsey’s process:
  • Step 1: List your debts from smallest to largest.
  • Step 2: Make minimum payments on all your debts except the smallest.
  • Step 3: Pay as much as possible on your smallest debt.
  • Step 4: Repeat until each debt is paid in full.
  1. Streamline & Simplify – Create an “automated budget” by setting up auto-payments for each paycheck to cover your bills and add to your savings account. This helps avoid spending income on non-essentials because you’ve spent the money before it even gets into your “spending” account. You can also simplify your lifestyle by cutting out unnecessary spending and putting daily practices into place, like making your coffee at home or packing your lunch for work. While this step can be one the hardest of all – we all love our Starbucks — remember that this is only temporary but is necessary to help give you financial freedom to do even more in the future.
  2. Consider a Refi – if you’re a homeowner, there’s a chance you’re paying a higher interest rate than today’s rates. By refinancing to lower your interest rate, you can save money on your monthly mortgage payments that frees up cash to help pay down debt. Or, depending on how much equity you have, you could even do a cash-out refinance to pay off credit card debt, car loans, personal loans, school loans, etc.

To learn how the right mortgage can help you reduce debt, click here to contact your local Inlanta officer today!

Reasons to Refinance in 2019

Reasons to Refinance in 2019

This year brings good news for homeowners with the current mortgage market presenting a window of opportunity for refinancing due to continued favorable mortgage interest rates, increased home values, and tax law changes effective 2018* due to the Tax Cuts and Jobs Act (TCJA).

For many homeowners, refinancing today offers the opportunity to reduce the rate on your mortgage in order to reduce monthly mortgage payments, save money, meet certain financial goals, and more

Here are a few reasons to consider refinancing in 2019:

  1. Lower your interest rate: If it’s been a while since your last mortgage check-up, there’s a chance you could be paying a higher interest rate than today’s rates. By lowering your interest rate, you’ll save money on your monthly mortgage payments that frees up cash to help meet other financial goals or live more comfortably financially month to month.
  2. Shorten the life of your loan and save money: Refinancing to shorten a 30-year vs 15-year term can save you money. With this extra cash, you may be able to retire earlier if the loan is paid off earlier, travel, or even build up investment portfolio.
  3. Drop the PMI: With the current increase in many home values, a refinance could help you drop PMI (premium mortgage insurance) to help lower your monthly payment amounts.
  4. Pay down debt: Use the extra monthly cash saved by lowering your mortgage payment to help pay down debt, or even do a cash-out refinance to pay off credit card debt, car loans, personal loans, school loans, etc.
  5. Make necessary home renovations: If you love your home and plan to be there for a while, you may want to consider a cash-out refinance loan to get the money you need to make the home renovations you’ve always dreamed of.

Inlanta Mortgage offers different types of refinance loans to meet our customers’ needs for each unique financial situation. If you’re wondering if refinancing is right for you, contact your local Inlanta Mortgage loan expert to get started.

 

2018 New interest rate deductibility limits! *

Mortgage interest deduction. You generally can deduct interest on mortgage debt incurred to purchase, build or improve your principal residence and a second residence. Points paid related to your principal residence also may be deductible.

For 2018–2025, the TCJA reduces the mortgage debt limit from $1 million to $750,000 for debt incurred after Dec. 15, 2017, with some limited exceptions.

Home equity debt interest deduction. Before the TCJA, interest was deductible on up to $100,000 of home equity debt used for any purpose, such as to pay off credit cards (for which interest isn’t deductible). The TCJA effectively limits the home equity interest deduction for 2018–2025 to debt that would qualify for the home mortgage interest deduction.

*2018-19 Tax Planning Guide by Sikich LLP, CPA

 

 

 

Inlanta Mortgage Marks 25 Years with $25,000 Gift to Pets for Vets

Inlanta Mortgage Marks 25 Years with $25,000 Gift to Pets for Vets

It’s no secret that taking care of animals and supporting our veterans is something near and dear to the hearts of us at Inlanta Mortgage, Inc. In fact, one of our own team members, Milena Grcic, recently helped end a case of animal cruelty with a cat’s rescue in South Milwaukee.

That’s why it was no surprise when Inlanta announced its 2018 charity partnership with Pets for Vets, an organization that helps pair rescue dogs with at-risk returning veterans, as part of its 25th anniversary celebration that kicked off in September.

“Going into our 25th anniversary, we knew we wanted to celebrate by giving back in a big way,” said Paul Buege, Inlanta’s President and COO. “Because our founder and chairman of the board John Knowlton is a devoted supporter of rescue dogs, and as an organization that is committed to supporting our veterans, we knew this organization that blends these two would have deep meaning for our clients, referral partners and our awesome team of employees.”

Between June  – December 2018, Inlanta made a donation for every loan it closed , along with holding various employee fundraisers both in the home office and branch offices, including its annual charity raffle held during its National Conference in September. In January, the final campaign proceeds of $25,000 were presented to Dan Zealley, executive director for the Milwaukee, Wis., area chapter of Pets for Vets.

“The donation from Inlanta Mortgage and its customers will go a long way to helping both veterans and shelter dogs to get a second chance,” said Zealley. “These companion animals assist in the healing our service members. Thank you to all of our veterans!!!”

Pets for Vets is a 501(c)3 organization that unites military veterans with shelter pets. This program supports veterans who may be experiencing anxiety, depression or stress, while providing a second chance for animals who will be rescued, trained and paired with veterans who could benefit from the companionship. Learn more at https://www.petsforvets.com/milwaukee-wi.

 

Home Resolutions to Make in 2019

Home Resolutions to Make in 2019

Resolutions are a great way to set yourself up for success in the New Year. While you may already have committed to some for yourself, your family, or your business, setting resolutions for your home will help keep your space well-kept and cared for.

Here are some homeowner resolutions you can make in 2019:

  1. Create a Home Maintenance Schedule

Caring for a home is a big responsibility that requires time and attention all year long. That’s why it’s best to get ahead of your home’s needs by creating an annual home maintenance schedule. If you’re wondering where to start, check out our Home Maintenance Checklist to help keep your home in great shape.

 

  1. Update One Outdated Feature

We all have features of our homes that we’d like to hit the refresh button on. Maybe it’s your outdated bathroom, popcorn ceilings, or outdated kitchen cabinets and laminate countertops. Whatever is giving you a headache, choose one to check off your list in 2019.

 

  1. Take Some Time to De-Clutter

Clutter can bring chaos. Start the New Year off by clearing your space to help get you cleaned and organized. Here are some top tips from decluttering experts via The Huffington Post to help get you started.

 

  1. Accomplish a DIY Project

You don’t have to be an expert or hire one to make improvements around your home. DIY, or “do it yourself,” projects are great for saving you money and upgrading your home for less. Check out our Pinterest page for some DIY home improvement ideas you can tackle in 2019.

 

  1. Make Extra Mortgage Payments

Resolving to put a little extra money toward your mortgage in the New Year can make a big impact on paying off your mortgage that much sooner, saving you money on interest. Talk to your Inlanta Loan Officer today to see if making extra mortgage payments could benefit you!

 

We hope your new year is filled with joy, success, and a happy home!

Inlanta Mortgage Named Top Mortgage Company By National Mortgage News

Inlanta Mortgage Named Top Mortgage Company By National Mortgage News

Inlanta Mortgage is kicking off 2019 in a big way!

Just announced at the start of the New Year, Inlanta has been recognized as a top 20 mortgage companies to work for 2019 by National Mortgage News.

The company was pleased to receive news of the award following a survey program sent via National Mortgage News to all Inlanta employees encouraging feedback regarding the company’s culture, benefits, policies, and more.

“This is a testament to our incredible employees and how they do business every day,” said Paul Buege, Inlanta President/COO. “We are so honored for this recognition and grateful to our employees for making this happen through their hard work, dedication, and commitment to delivering an exceptional customer experience every day.  We are one of the best mortgage lenders in our industry, wonderful seeing our company-wide success being recognized on a national level”

As a top mortgage lender, we consistently strive to invest time and resources into our Managers and Loan Officers to help increase sales, grow business, and build relationships year after year.

If you’re looking for a company with solid tenure, strong support, and outstanding culture, we’d love to talk to you about your 2019 goals today!

Please click here to visit our website to fill out a form for us to contact you or, you may contact our branch recruitment division at 262-439-4260 or email partners@inlanta.com.

We are looking to grow with you!

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