While home inspections are not always a requirement for purchasing a home, they are highly recommended. This is because a buyer needs to know all issues a home has before she commits to purchasing it. Before the inspection begins, deep clean your home and fix any faulty appliances. Your real estate agent can help you know what needs to be fixed.

A home equity line of credit (HELOC) allows you to use your home’s equity without selling the house. Though HELOCs traditionally had variable rates, today’s HELOC borrower has another option. A fixed-rate HELOC replaces the variable rate of a traditional HELOC with the fixed rate of a typical home equity loan. With a fixed-rate HELOC, you can dip into your home equity and pay it off with a fixed interest rate. This means that your interest rate payments do not change even with a fluctuating market.

Both personal and home equity loans are popular installment loans people often use to cover expenses such as medical bills or purchasing a car. Personal loans are best for short-term expenses and are paid back in a few years. Home equity loans are better for long-term expenses and are paid back over as much as 30 years.

Despite the similar-sounding names, a lessor and lessee hold two different meanings. A lessor is a person who owns the property or asset that is being rented out. Lessees are the people who are paying to borrow the item. Lessors legally own the item even if the lessee currently has it with them, which is why lessors generally have to pay taxes for the item they rent out.

You can usually only have one FHA loan at a time. There are, however, some specific exceptions to this rule. For example, if you’re getting a divorce, had to relocate for work, or have a growing family, then you could be eligible for a second FHA loan.

Defined benefit and defined contribution plans are employer-based retirement plans. Defined benefit plans are paid by the employer, offer pension plans, and guarantee a lifelong income. They are also becoming less common. Contribution plans are funded through an investment account. These plans are reliant on the market, and it is possible to outlive the funds. It is the more common form of retirement income.

Metal credit cards are practically indestructible. Hey, that’s one of the reasons they are so popular. But when it’s expired or you’re getting a replacement card, metal cards can be a pain to destroy. Giving the old card to your branch or cutting it with the proper tools are some of the best ways to destroy a metal credit card.

Grants are a form of financial aid given by one party, usually the government, an NGO, or a corporation to an individual or organization. In the case of education grants, they are provided to students with exceptional financial needs. Grants usually do not have to be paid back, but there are a few exceptions to this rule.

Cost basis is the amount of money you spent to buy an asset. This amount usually includes the purchase price, fees, reinvestments, and commissions. Cost basis must be reported on your taxes. Determining cost basis can help you see how much you are making or losing with your investments, and might help you save money on taxes.

The IRS organizes certain especially important or frequently needed taxpayer information into a list of tax topics. One of these, tax topic 151, concerns your rights to appeal when the IRS withholds all or some of your tax refund. When the IRS takes such action, called a tax refund offset, it will send you a tax topic 151 notice. This notice may be a report, a letter, or both. It tells you why your tax refund is being reduced or withheld. It also lets you know that you can appeal the decision if it is based on incorrect information. You may talk to a tax professional for help with the appeals process.