You’ve had your mortgage for a long time. The amortization chart shows that the proportion of your payment that is credited to the principal of your loan increases each year, while the proportion credited to the interest decreases each year.…
Author Archive for Eric Carnegie
I came to the US as a student about 23 years ago with two suitcases and $80 in my pocket. Today I own several houses, a couple of websites, and some other investments.
Why You Want to Refinance Your Mortgage
by Eric Carnegie •
With mortgage rates up about 1% from a couple of month ago, the refinancing wave has abated a bit. But the rates are still at historical lows and if you have not refinanced your mortgage yet, I want to provide…
One Formula that Increases Credit Score
by Eric Carnegie •
Credit score is a myth. Many things go into the calculation of the credit score and they will not tell you how much each individual factor affect your score. The one factor of your credit score you have the most…
Three Credit Card Benefits: Rewards, Transfers, and Floats
by Eric Carnegie •
This afternoon, I just converted 46,556 points from one of my credit card into $465.56 cash and have it deposited to the bank account I have maintained with the bank I got the card from. Not too bad for three…
Health Insurance Options for Self-Employed Under Affordable Care Act
by Eric Carnegie •
As a small business owner, I care about how the new Affordable Care Act (ACA) affects me. Sole proprietorships are among the millions of individuals expected to buy health insurance through the state-based marketplaces which will start enrolling consumers today.…