Home Equity: How to Use It
A refinance pays off your current mortgage and gives you cash based on your equity. These are good for:
l Lowering or locking in your mortgage interest rate
l Getting large sums of money ($30,000 or more)
Home equity loans (second mortgage) are installment loans that are paid out in one lump sum. They’re good for:
l repaying credit card debt
l remodeling projects
l buying a new vehicle
A home equity line of credit works like a credit card – you agree to a pre-set limit and then borrow as you need to, or in the event of an emergency, usually for up to 10 years. Good for:
l debt consolidation
l major home improvements
| Smart-Home Devices May Save on Home Insurance |
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While smart-home devices can add a considerable amount of convenience and comfort to your home, they can also help you save money on your home insurance. There are a wide range of smart-home devices that you can have installed in your home - everything from smart thermostats to smart speakers. Before you purchase any of these devices, you should know which devices might save you some money.
Policy Discounts
Many insurance providers will provide discounts to a homeowner who installs a smart-home device that's designed to prevent theft, water damage, or fire damage. These discounts are generally applied to your monthly premium, saving you money every single month. While there are a wide range of devices available to aid in theft and damage protection, the ones that tend to be eligible for discounts are security cameras, smoke detectors, and water leak sensors.
Certain insurers may provide discounts for other devices like motion sensors or smart locks. You should speak with your insurance company to identify which devices will qualify you for a discount.
Device Discounts
There's also a possibility that your insurance provider has a partnership with one or more smart-home device companies. In this case, the device company may offer reduced prices for anyone who has a policy with the insurance provider. Your insurance carrier can tell you if they have any partnerships that qualify you for smart-home device discounts.
Before you have any of these devices installed, keep in mind that different insurance providers offer different discounts and benefits. Some may offer both policy discounts and device discounts! Speak with your insurance company to see what you are eligible for.
Why Insurance Companies Offer These Rewards
Insurance companies want to incentivize smart-home devices because these devices can mitigate expensive problems. When water or fire damage occurs, your home insurance provider may need to pay out a costly insurance claim. If a smart-home device can detect these issues early, your insurance provider can save money, which is why you're able to benefit from a policy discount and a potential device discount.
Take a smart water detector for example. This detector is commonly installed near your water heater. In the event a leak occurs, it would emit an alarm and immediately send a text alert to your smartphone. That notification allows you to respond immediately, rather than discovering the leak hours or days later, thus preventing substantial water damage.
Choosing to install smart-home devices in your home can improve your livelihood and help you prevent theft and damage to your home. Doing a little research with your insurance company before you purchase can save you money on top of that. |
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| Fun Activities to Get the Most out of Fall |
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While the warm summer months are great for family vacations and barbecues, the fall season is the perfect time to take part in some fun and festive local activities. Here are some ideas for fun fall activities for you and your family and friends to enjoy.
 Go on a Picnic in a Nearby Park
Ahh, the crisp fall air! Mild temperatures and colorful scenery make fall the ideal time to go on a picnic in a nearby park. You can enjoy the changing leaves while eating a million different pumpkin-flavored items and other classic fall treats.
Attend a Local Fall Festival
If you want to get the most out of the cool fall season, think about attending a local harvest or fall festival. Depending on the size of the festival, you'll get the opportunity to eat delicious fall treats, play family-friendly games, and enjoy some quality time in the fresh air.
Another option is to visit a local farm or pumpkin patch. Many farms will set up corn mazes, hayrides, and petting zoos on weekends during the fall months. You can go pick out your own pumpkin and stay for the fun!
Go for a Nature Walk
Now that the weather is less hot, consider taking a short nature walk once a week. You get to enjoy the fall scenery and get some exercise at the same time. Plus, reconnecting with nature has been shown to reduce stress and boost mood. You can head to a nearby park or seek out hiking trails or open space for a more immersive experience. Always practice safety when venturing outdoors.
Go Camping in Your Backyard
You don't need to travel long distances or trek into the wilderness to go camping – though that is certainly an option. In fact, you can enjoy all the fun of a camping retreat in your own backyard. Just set up your tent (or borrow one from a friend), bust out the s'more supplies, and you'll be ready for a fun family night under the stars.
Host a Pumpkin Carving Contest
Carving a pumpkin is an activity that people of nearly all ages can enjoy. All you need are some pumpkins and some carving tools. No tools? Make it a pumpkin painting party instead! You can make it a family activity or opt to invite friends and neighbors.
You can keep costs down by asking each person to bring their own pumpkin and/or carving tools. Attendees can take pictures and vote on their favorite carved pumpkins. After the party, consider roasting the pumpkin seeds for a healthy fall snack.
Tailgate a Football Game
Now that most football seasons have begun, you can make a day of cheering for your favorite team by tailgating before the game. Whether it's a big national team or just your local high school team, lots of fun can be had outside the field or stadium with fantastic game-day food, games, and atmosphere.
Fall is a wonderful season for activities of all shapes and sizes. Whether you want to socialize with friends and neighbors or enjoy some time to yourself you should be able to find several activities to match your interests. |
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