With an interest only mortgage, your monthly mortgage payments are lower because they only cover the interest on the loan. And unlike most mortgages, your monthly mortgage payments do not count towards your mortgage insurance. But because interest and capital gains are tax deductible, you don’t pay tax on them. Plus, unlike a fixed mortgage, it doesn’t have an interest rate cap. 

What is a third mortgage?
The interest is guaranteed by the lender. It’s similar to the interest-only portion of an adjustable mortgage, but does not have a fixed interest rate.
What’s the best way to pay off my mortgage?
Most homebuyers currently having a mortgage at least five years, my advice would be to pay off your mortgage as soon as you can and to look for a refinance mortgage program if necessary.
What if I get a negative equity situation?
The second that you have a negative equity situation, you can write a personal loan against your home. Most banks have third-party collections agencies that can take your principal, if they can. Your lender will probably ask you to submit information to the credit bureaus like your income, assets, and loans (checking your credit score will usually tell them if you have a negative equity situation). If you do this, I recommend that you use a payment plan that minimizes your monthly payments. Your lender will likely ask you to submit more information about your income. Paying down the total principal balance, or a partial principal balance, can be a good plan to help pay off your loan more quickly. Some homeowners find it helpful to include a small percentage of your income as income on the tax return. While you are not allowed to include income on a tax return, your mortgage payment can be included on your tax return as non-deductible interest.

What happens if my house is foreclosed?


If your home is foreclosed and sold at auction, the following will happen:

The bank will continue to hold on to the home as it is no longer a piece of real estate (it will be owned by the buyer), and will not write you a mortgage payment. The owner of the house will not pay any tax on the home if you own a tax lien on the property. If you sold it at auction, the tax lien and a lien on the home from the city will be satisfied by the proceeds. The bank will refund your closing costs, including the real estate broker’s commission, as well as your mortgage payment (tax lien notwithstanding). This could result in as much as $8,000 in net profit for your bank.

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EasyPop jQuery Plugin


EasyPop is a jQuery plugin designed to be super easy to use as well as customizable. It’s main use is to display the title of a menu item or icon within a popup bubble.

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Free Green Button



Here is a large green button created by yours truly. The color is an earthy green and the button works great as a call to action.

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March Design Picks

The font used for the header image is Trajan Pro

As Web Designers it’s important to stay on top of the latest trends in web design. Inspiration helps us to come up with fresh ideas or build on the ideas of others. Let’s start this month off with a few awesome designs that caught my eye.

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Firefly Jquery Plugin



Noise is an important part of most designs when it comes to websites. It helps direct the user’s attention to certain parts of the site without overwhelming them. I’ve recently started seeing sites use a type of Javascript animation that is really appealing to me. It’s subtle and at the same time has a huge impact on the design.

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February Design Picks

The font used for the header image is Five Minutes and the pattern, Argyle. All free.

As Web Designers it’s important to stay on top of the latest trends in web design. Inspiration helps us to come up with fresh ideas or build on the ideas of others. Let’s start this month off with a few awesome designs that caught my eye.

top-designs-dec-19

Monday Design Picks

The font used for the header image is Salary Man and the pattern, Beige Paper. All free.

As Web Designers it’s important to stay on top of the latest trends in web design. Inspiration helps us to come up with fresh ideas or build on the ideas of others. Let’s start this week off with a few awesome designs that caught my eye.

top-designs-dec-12

Monday Design Picks

The font used for the header image is Market Deco and the pattern, crissXcross. All free.

As Web Designers it’s important to stay on top of the latest trends in web design. Inspiration helps us to come up with fresh ideas or build on the ideas of others. Let’s start this week off with a few awesome designs that caught my eye.

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Top 10 Cinemagraphs

I’ve recently become a huge fan of Cinemagraphs, the subtle yet appealing movements are very hard to look away from. I would love to see this type of photography catch on. Imagine having a digital picture frame with a single moment in time looping endlessly. I’m hoping its the future of household portraits.

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Free Clean Social Icons



A clean set of social icons, simple yet elegant.