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Section 7.4 How to Manage your House

Here we are not talking about how to fix your house, but how to manage your house investment financially.

Usually there is min risk of people stealing your identify to take out a mortgage, because mortgage application is usually managed carefully. Never the less, you still should check it in once-every-4-month credit report we talked earlier.


The main thing is that you should pay your mortgage on time, which is very important for your credit score. Use electrical payment is usually safer than mailing in the payment by check. You can always setup an automatic payment schedule.


Then make sure your house insurance is renewed annually, and you pay your property tax on time.


And for your rental property, you should do the BAO calculation we discussed in Sec 7.2 on quarterly basis, by updating the assumptions you made. This refresh will give you better guidance on when to sell the house.


Just do those simple things, and it is this easy to manage your biggest personal borrowing.



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