HIRE MORTGAGE BROKER

“Given all the uncertainty in the markets, should I divest from the US investments in my portfolio and focus more on international stocks and bonds? And my answer was, no, do not divest, but do diversify. And those are two very different things.”

“What lenders care most about is who legally, legally being the operative word, owns the debt. Parent plus loans belong to the parents. They are legally your parents' responsibility, even if the child, you, is the one making the payments every single month. From a lender's perspective, that distinction is important.”

“Mortgage brokers will help you find a good lender, but also they're very experienced in knowing how the underwriting process goes. And they can be your advocate and your communicator, your go-between, as the underwriter has questions about your paperwork and your financial history. They can inform them in a way that they would understand and calm the waters.”

“I like it because the contributions are pre-tax, which lowers your taxable income now, kind of like a 401k, but the big advantage is flexibility. With a governmental 457, once you separate from service, meaning you leave that job, you can access that money without the early withdrawal penalty, even if you're under the age of 59 and a half.”

“Monthly transfers to parents usually don't fall into the category of I have credit card debt, or I have a loan with a bank. They're often viewed more like family support, or a recurring personal expense. It's not formal debt, again, like a car loan or a credit card balance in your name.”