A popular trend these days is incorporating furniture with unusual design patterns

Furniture trends this year reflect a certain shift. While individuality reigns supreme, it acquires a bold expression in decor and design. With people achieving a level of wealth and exposure that allows them to purchase and live with the finest of luxurious furniture, artwork, or furnishing, established brands and manufacturers with custom capabilities are working to enhance their collections. They’re not only functional, but also decorative. (more…)

For that cozy, creative and unique look to your dream bathroom, Anjali Tiwari offers a few tips

Bathroom flooring should be chosen keepingsafety in mind. There are lots of options for bathroom flooring in the market. But it will be wiser to set the budget before going to the market. The most popular options are bathroom carpets, bathroom carpet tiles, ceramic floor tiles, bamboo flooring, laminate flooring, vinyl linoleum flooring, hardwood flooring. (more…)

A growing number of seniors are turning to reverse mortgages to help them live out their life in comfort and without financial concerns. A reverse mortgage allows the senior, who must be at least 62, to tap into the equity of his or her home and use that money for basic living expenses, home repairs or any other needs. When the senior passes away, moves out of the home or sells the house, the mortgage payment comes due.

A more traditional way to tap into the equity of a home is through a home equity line of credit. The disadvantage of a home equity line of credit is that payments begin on the credit line immediately, which can strain the already tight budget of someone living on a fixed income. (more…)

Credit demand from consumers seemed to be back on track, especially in sectors such as auto and home loans though banks had cut down unsecured loan exposures, said KV Kamath, chairman of ICICI Bank.

“So far as mortgages are concerned, I think they are back from where they were a year ago. The tension between buyer, builder, and the lender is now more or less off. Auto sector financing is also back,” Kamath said at the sidelines of a banking seminar. The chairman of the country’s largest private sector bank felt 80 per cent of the consumer loans were back, the remaining 20 per cent mostly unsecured loans had taken a back seat. (more…)

The real estate revival story is being driven by the residential segment, but contrary to the claims made by a number of developers that end-users are their main buyers, the current trend is being driven by investors.

“These are investors who are taking an opportunistic view of the situation where prices have corrected considerably in many locations,” says Sanjay Dutt, CEO business at Jones Lang LaSalle Meghraj (JLLM). He estimates that a good 40% of the stock sold in the last few months would have gone to investors. In Delhi-NCR, this figure might be higher at 50%. (more…)

A reverse mortgage is a way for seniors to increase their income while remaining in their home. When a senior takes out a reverse mortgage, the equity in the home is converted to cash. The senior then receives the money as a lump sum payment, a line of credit or a monthly payment. While reverse mortgages provide financial freedom for lots of seniors, they’re not always the best option. It’s important to carefully evaluate your personal financial situation, and speak with family members and credit counselors before taking out a reverse mortgage.

When choosing a lump sum payment, the borrower will receive a fixed amount. With a line of credit, the borrower will qualify for a fixed amount. In a monthly payment arrangement, the borrower will receive a fixed monthly amount for the remainder of their life. (more…)

A fixed rate reverse mortgage removes the uncertainty associated with adjustable rates. While an adjustable rate mortgage often seems less expensive, the borrower is has no way of predicting what interest rates will do in the future. Fixed rate mortgages may seem more expensive at the outset, but are often less expensive over the long term.

Fixed Rate Reverse Mortgage Pros and Cons

A major drawback of fixed rate reverse mortgages is that they require the borrower to take the payment from their reverse mortgage as a lump sum. In an adjustable rate reverse mortgage, the borrower may choose from several different options. A line of credit reverse mortgage allows the borrower to request funds as needed. This option allows the borrower to access the most equity from their home. A monthly payment option provides the borrower with a source of monthly income that will continue for the remainder of the person’s lifetime. Because of the high interest rates, the lump sum option for reverse mortgages is generally regarded as the least attractive. Additionally, holding the lump sum in a bank account could make it difficult to qualify for government-subsidized programs. (more…)

Big realty players and PE funds are now farming with smaller developers sitting on big land banks in Tier II and Tier III cities to reap a rich harvest, says Vandana Ramnani

Nirupam Dutt, an engineer; has been living in Meerut for the last three years. Looking for a home for three months he recently zeroed on a local builder who satisfied his selection criteria – the price of the house did not exceed Rs 20 lakh, it had a clean title and the funding was in place, thanks to the developer’s recent tie-up with a PE fund which brought in not only the money but also international know how and expertise. The slowdown surely has made a buyer like Dutt wisher and more discerning. (more…)

Thirty year fixed rate mortgages are one of the most popular financing options for homes. There are advantages and disadvantages to a thirty year fixed rate loan. Before deciding if a 30 year fixed rate mortgage is right for you, it is important to understand the pros and cons and carefully evaluate your current financial situation.

When purchasing a home, there are a variety of financing options. Over the past several years, many people have decided to finance their homes with adjustable rate, interest only loans. When they did this, their monthly payment was low, because they were only paying the interest amount. The principal of the loan was never reduced. At the end of the interest only term, the buyer had two choices. He or she could refinance again or pay off the principal in one lump sum. Clearly, most people opted for refinancing. (more…)