Whether you are trying to save a down payment for a first home or need to get better control of your household budget, loan consolidation can be at least part of the answer. The other part of the answer is spending less than you earn. Here, we take a look at the differences between consolidating credit card debt through a personal loan compared to a new credit card with an introductory rate of 0% APR.

The Basic Limitations of 0% APR Transfers

The post-COIVD economy is affecting most of us in unusual ways. This includes credit card companies and banks. Many people used credit cards for an extended time to help get by on a reduced income or no income at all. Now that things are a little more normal, people are still struggling financially with inflation and the prospects of a recession. A tight income and stretched budget reduce the options you have available to consolidate debt. Many credit card companies have stopped offering 0% APR balance transfers, restricted the availability, are charging a balance transfer fee, or reduced the amount you can transfer interest-free. The amount you are allowed to transfer is often lower than your actual balance or card limit. That means you might be able to transfer most of the balance over to 0% but you’ll also end up adding another credit card to your wallet to keep track of. Not exactly the consolidation you were looking for.

There are reasons to read the fine print before transferring to another card. Some cards charge a balance transfer fee between 2% and 5%. There are cards that don’t charge a transfer fee, but you need to search those out. Another obstacle that you might face is that card transfers typically require a good or excellent credit rating. Also, know how long the 0% APR promotion period lasts and if you can reasonably pay off your debt before it ends. People with the highest-rated credit scores might find a 0% promotional period that lasts as long as 18 months. However, most last 12 months or less.

Personal Loans Are Not 0%

If you are saving a down payment to buy a home, you should already be aware that interest rates fluctuate daily. With the Federal Reserve raising interest rates, credit card rates are also going higher. In July 2022 the average APR was 15.13% but the average in August has risen to 17.98%.

A 24-month personal loan can be as low as 3% but will likely range up to 9.6%. The rate you qualify for will vary depending on your credit score, annual income, and debt-to-income ratio. If you take out a longer-term personal loan, the interest rate will be slightly higher.

Elevated home prices and rising interest rates are feeding into housing affordability woes for potential buyers, especially those with lower credit scores. A new Zillow analysis shows that, nationally, buyers with “fair” credit could be paying up to $288 more on their monthly mortgage payment than those with “excellent” credit.

A buyer’s credit profile plays an important role in how much a home ultimately costs.

Today’s home shoppers can expect to pay around 62% more per month to buy a typically priced U.S. home than they would have a year ago. Zillow examined credit scores against current mortgage rates and found that such monthly cost increases are exacerbated for millions of Americans with low credit scores or less than perfect credit histories.

A borrower with an “excellent” credit score — between 760 and 850 — can qualify for a 30-year fixed-rate mortgage with a 5.099% interest rate. For the same loan, a similar borrower with a “fair” credit score — between 620 and 639 — qualifies for a 6.688% rate. This equates to a $288 difference in monthly mortgage payments and nearly $103,626 in interest over the life of a 30-year fixed loan, based on the current price of a typical U.S. home ($354,165).

“When you are thinking about buying a home, the best first step you can take is to fully understand your financial picture, what you can afford and your outstanding debts or obligations,” said Libby Cooper, Zillow Home Loans vice president. “If you find you have low credit, take realistic steps to improve your credit score by doing things like disputing possible report errors and paying down as much debt as possible. This could increase the amount of home loan you qualify for.”

Americans are constantly on the move, and using U-Haul trucks is still one of the most popular ways people choose to get their stuff from one place to another. According to one study, each year, approximately 9.8 percent of Americans move to a new home. 

But with gas prices skyrocketing and the cost of living continuing to increase, is using U-Haul trucks to move still an affordable choice?

Read on to see if U-Haul costs are rising and to learn about the basics of moving truck rental costs and moving costs. You’ll be able to determine whether choosing U-Haul is a viable option for you.

U-Haul Costs Remain Stable

In a June 2022 press release, U-Haul claimed that its low base rates for in-town rentals remained the same. The fleet of U-Haul trucks also includes a variety of fuel-saving features that are much more efficient than the competition.

The company also has over 23,000 different rental locations across the nation, giving residents in every state a much more easily accessible choice. Not only does this make it easier for you, but it also reduces fuel use. Simply find the nearest U-Haul location, and drop off the truck when you’re done.

Nearly 87% of people who buy homes finance their home purchases. While many choose 30-year loans, some choose a 15-year mortgage. Financing a home is the easiest way to buy a house. After all, it allows you to pay off your home for the next 15 to 30 years instead of saving enough money to pay cash for it.

But why choose a 15-year loan? What causes people to want a shorter loan?

Here is a guide to help you learn why a 15-year mortgage is the best option when financing a home purchase.

Pay It Off Faster

Many people choose 30-year mortgages to have enough time to repay their loans, but many also turn to 15-year loans. The number one reason to choose a shorter loan is to pay it off faster.

You’ll see a big difference if you consider your current age and age when you repay the loan. For example, if you’re 30 years old, you can repay your mortgage by age 45 or 60. Which do you prefer?

Alongside having a baby and getting married, moving and buying a home are among the most stressful experiences we face but ultimately enjoy. Even if you’re excited to have finally found your dream home, it doesn’t make the process any less harrowing.

First, you have to find your home, which can be extra challenging in a hot market. Then, you have to go through negotiations, escrow, inspections, meetings with loan officers, and so on all before you finally get the keys to your new place. And after all of that, you still have to pack up your whole life, move it, and unpack it in your new place. It’s a lot to manage, especially if you are buying your first home or moving a long distance.

Fortunately, there are steps you can take to remove some of the hardship so you can have time and energy to enjoy this exciting time in your life. Here are eight ways to eliminate some of the stress you may face while unpacking from a long move.

Make a to-do list

Before you start collecting or buying moving boxes, the first step in making your packing experience less stressful is to make a comprehensive to-do list. That sounds basic, but having this list will help you have a clear focus and ensure you don’t forget anything.

You can customize your list however you like. You might start with general, big picture tasks such as, “sell and donate unwanted items” and “get packing supplies.” After that, you can break the bigger projects into smaller, more manageable tasks, such as “sort kitchen utensils into sell, donate, keep piles”, “photograph items for sale”, “list items for sale” and so on. 

Saudi property development company Dar Al Arkan is growing its presence in eight countries after earning a reputation for creating opulent, comfortable living spaces. Currently, co-branding is one of the biggest trends in luxury living, which is why Dar Al Arkan is partnering with some of the most famous names in high fashion: Versace, Missoni, Elie Saab, and Pagani.

It’s been a natural evolution for the company, which was launched by six families in 1994. Designers tend to start with a clothing line before branching out to accessories like sunglasses, jewelry, shoes, and handbags. Real estate is the next step in extending their designs, and Dar Al Arkan offers designers stunning spaces to further explore their brand. According to the property development company’s CEO Sheikh Yousef Al Shelash, “Co-branding is reaching cars, yachts, planes, and real estate. Co-branding with luxury brands is a big real estate and hospitality trend.”

Exclusivity Drives Demand for Co-Branded Luxury Abodes 

“Co-branded real estate is the limited edition of real estate. It is a big trend because there are more and more people looking to buy a limited number of units. When you do a project in a certain city with a certain brand, you only present a limited number of units,” explains Al Shelash. “So there is a big trend around the globe right now of people who would like to buy units with limited numbers, just like they’re buying watches, and they’re buying jewelry — they want to buy everything that is a limited edition. This is why it is a major trend these days in real estate.” 

Research shows that developers can increase their profits by approximately one-third with branded properties. Dar Al Arkan’s fully serviced, designer-branded homes help set them apart from others in the industry and act as a magnet to attract an aspirational clientele. With wealthy consumers wanting to live in designer developments with five-star amenities and restaurants, it can be an asset for developers to partner with a trusted brand.

Al Shelash confirms that the company has been able to elevate its status since proving that these well-known designer corporations enjoy successful collaborations with the company. “Partnerships elevate the image of the company by showing that the company has not only been trusted by our customers over the last 28 years but can also be trusted by mega brands,” he says. “It expanded our customer base because now we are able to deal with economic classes from the mid-economic classes to the ultra-high-net-worth.”

Owning a cooling and heating system requires regular maintenance to ensure efficiency and extend its useful life. To achieve this, you need professional technicians to care for your heating, ventilation, and air conditioning (HVAC) needs. 

But how can you find trustworthy technicians who won’t con you because you don’t understand much about HVAC systems? This guide below will help you identify signs of a quality HVAC service provider. 

Gets Good Reviews

The best place to scour through every review available is the internet. Go through Google, Facebook, Yelp, and other sites where frustrated and satisfied customers can post a review. Don’t rely too much on the ones posted on a service provider’s website. They likely filter out the nasty comments. 

On the other hand, don’t make a decision based on just one bad review. You’re looking for a trustworthy company, not a perfect one. Remember that technicians can make mistakes.

Dig deeper until you’ve gathered enough good and bad reviews to see patterns. They can help you decide to go one way or another.  It also helps to get the opinion of your family and friends who have dealt with HVAC companies before. 

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com.

Question from Patti in GA: Hi Brian, Why is the paperwork to buy a house so lengthy and confusing? I’m buying my first house and a friend told me that I’ll spend a couple of hours at the closing signing a pile of papers that I probably won’t understand much about. So, I asked my agent what this is all about and what I should expect. He went through a checklist with me and explained what documents I can expect to review and sign. After I left his office, I realized I still had a few questions. The most important question that I still have is about title insurance. My agent said something about it being insurance that the seller has the legal right to sell the property to me. There are a lot of insurance costs going on here. I understand the homeowner’s insurance and I’m not fond of it, but I understand the mortgage insurance that I pay but is for the benefit of my mortgage company. But why do I need title insurance that guarantees the seller has the right to sell the house to me?

Answer: Hello Patti. Yep, there is a pile of paperwork that you need to understand and sign at closing. You’re wise to have started asking questions before you are confronted by it all at one time. When it comes to title insurance, your agent might have oversimplified it or you might not have caught everything that was said about it. There is more to it than just insuring the seller has the right to sell the property to you.

Title insurance protects you from financial loss and related legal expenses in the event there is a defect in the title to your property that is covered by the policy. Title insurance differs from other types of insurance in that it focuses on risk prevention, rather than risk assumption. With title insurance, title examiners review the history of your property with the intent of eliminating title issues before the purchase occurs. Title insurance also differs in that it comes with no monthly payment. It’s a one-time premium paid at closing.

It’s more than just insuring the seller has the right to sell because it covers many situations that the seller might not even be aware of. Patti, this is probably the biggest purchase that you’ve made in your life, and you’ll be obligated to pay the mortgage for many years to come. You want to be sure that you are receiving a clean title or in other words, that another person or company can’t claim they have a legal right to part or all of your home. Any number of title issues may arise, even after the most meticulous search of public records. Most houses have been bought and sold several times over the years. There is a potential for discrepancies in those large piles of papers that might have happened several sales ago. These hidden defects are dangerous because you might not learn about them for months, or even years, after purchase. Some common examples of risks covered by your Owner’s Policy include defects in title caused by:

Believe it or not, over a million home burglaries occur every year. When scoping out a house to steal from, burglars look for easy targets. They break into houses when people are at work or on vacation. But most importantly, they look for residences that don’t have home security. Because the last thing a burglar wants is to run into a smart home.

Smart home technology, from doorbell cams to motion-detecting CCTV, means burglars think twice. The question becomes, ‘why are smart home options so superior to other types of security?’ 

Join me as I discuss the reasons why smart home security provides the best crime prevention available.

What Makes a Smart Home?

Technology is affecting the real estate industry in fascinating ways. Smart home options for security are just one of these things.

A smart home is a loose term for any residence that makes use of Internet of Things (IoT) technology. Internet of things refers to having a network of interconnected smart devices. These devices not only give me finer control over them, but they communicate with each other to better serve me.

Giving your home curb appeal doesn’t have to be a time-consuming, difficult, or expensive task. Sometimes, a few minor steps are all it takes to make a major difference.

Make Your House Look Great

Here are three simple things you can do to give your home the curb appeal it deserves.

One: Tidy Up Your Front Yard

Your front yard is the first thing that visitors see when they come to your home, so use it to make a good impression. Start by mowing the lawn and trimming any bushes or trees. If you have flower beds, make sure they are well cared for and free from weeds.

Add some color with hanging baskets or by planting lots of bright flowers. Lastly, make sure the path to your front door is clear and free of any debris.

Two: Install Outdoor Lighting

One of the quickest and easiest ways to improve your home’s curb appeal is to install some outdoor lighting. Path lights are a great way to illuminate your walkway and make it easy for visitors to find your front door. You can also add some accent lights to highlight features in your landscaping.

Proptech startup Hover, which has created technology that uses smartphone photos to build digital twins of properties, is expanding its capabilities to include blueprint uploads.

The company said contractors on new constructions will be able to make use of its entire solution, which generates 3D models and exterior measurements, using blueprints of designs. In other words, it now supports both existing homes (through smartphone photos) and new constructions.

Hover explained that its solution transforms blueprints into a complete 3D model of a new home or building, complete with comprehensive measurements for the property’s exteriors. Contractors can use the 3D models for takeoff, proposals and ordering features.

Hover founder and Chief Executive A.J. Altman said the company’s mission is to help people improve their homes using 3D property data. Today’s launch, he said, makes the company’s mission even more accessible.

“Supporting contractors in streamlining their workflows is at the core of what we do,” he added. “Now, with a faster, easier, more affordable path to prepare takeoffs for new construction bids, contractors can simplify their bidding process and stand out from the competition with inspiring, visual representations of the finished product.”

Having risen to its highest level in 40 years last June, inflation declined marginally at the end of last month. Due to a decrease in the Consumer Price Index’s gasoline index, that market remained unchanged compared to one month earlier, having hit a seasonally adjusted rate of 1.3% in June.

The Bureau of Labor Statistics said the CPI for all items increased 8.5% in July, down from the 9.1% gain a month earlier.

Michelle Bowman, a member of the Board of Governors of the Federal Reserve System, told HousingWire that she sees a “significant risk” of higher inflation into next year with regard to necessities such as food, fuel, housing and vehicles.

“Rents have grown dramatically, and while home sales have slowed, the continued increasing price of single-family homes indicates to me that rents won’t decline anytime in the near future,” Bowman said. “Recently, gasoline prices have moderated but are still roughly 80% higher than pre-pandemic levels due to constrained domestic supply and the disruption of world markets.”

The CPI data shows that the energy index dropped 4.6% last month thanks to decreased prices of natural gas and gasoline. Americans are now spending 7.7% less to fill up their cars than they did a month earlier. However, the energy index is still up by a whopping 32.9 compared to the year before.

Mortgage rates last week rebounded, having dropped towards the end of July. As a result, mortgage demand was split, with refinancing applications moving higher while homebuyer applications fell, according to the latest data from the Mortgage Bankers Association.

The data shows that the average contract interest rate for a 30-year fixed-rate mortgage with a conforming loan balance rose to 5.47% last week, up from 5.43% a week prior. That saw points rise to 0.80 from 0.65 for loans with a 20% down payment.

While the weekly average didn’t change much, daily moves were more dramatic.

Another read from Mortgage News Daily showed the average rate on the 30-year fixed jumping 45 basis points at the start of last week, then falling 41 basis points on Thursday and then jumping up again by 36 basis points. Mortgage rates don’t often move in such large increments.

That volatility was likely behind the gain in refinancing, which has been falling steadily since the start of this year. Those applications rose 4% for the week. Some may have been taking fast advantage of the drop in rates or were still hoping to get the lower offerings from previous weeks. Refinancing, however, is still down 82% from a year ago, when rates were right around 3%.

This week we travel down to Tampa, Florida, in search of the top real estate professionals in the region. As has been the process in past weeks, we rely on Google and Zillow ratings to isolate the agencies, then drill down to find out their digital and conventional marketing practices. Our methods continue to shift, but we’re homing in on ways consumers can quickly isolate and evaluate the professionals best capable of converting sales. We also found the same sad situation in Tampa, which we’ve run across in other medium-sized markets. With hundreds of agents to choose from, relatively few actually use all the available tools to service clients. Here’s this week’s list.

I almost missed Tampa, Florida’s most prolific agency. Were it not for the relative mediocrity of Andrew Duncan’s competitors, a slight flaw in my methodology would have left him off this list. You see, the 5-star/100 plus Google and Zillow criteria I established for previous lists do not cover all circumstances. The Duncan Duo team has one horrible review out of over 1,000, which takes their rating down to 4.8. So, it’s a good thing I went back to search Tampa agents for a superstar. Somehow, I knew there had to be a Tampa-St. Pete marketing hero out there.

Duncan has no peers in the realm of marketing, according to what I found. Facebook, Instagram, Inc. 500, almost 3,000 subscribers on a real estate Youtube channel, the guy needs a costume like Green Lantern. Seriously, in hundreds of reviews of real estate professionals nationwide, only a handful are as good. The only negative, I could find across this Tampa agent’s footprint is the fact his dentist made the man’s teeth too white. The smile from the guy will blind you even on Instagram. As you can tell from the share I use for his profile pic. If Duncan has one strike against him, it’s his ghastly ugly website, which does pass SEO with a score of 89/100. No seriously, this is the guy I’d get to sell my house in this region. I’m not alone in this assessment either. Duncan Duo has been the No. 1 Re/Max agent in Florida and the No. 8 team in the world, as well as having been endorsed by Barbara Corcoran (Shark Tank). Come on, the guy even has his own radio show.

Zillow has said its artificial intelligence-powered virtual home tours are now available nationwide on all listings, giving prospective home buyers and renters a better sense of a home before they step inside.

The free, AI-generated floor plan tool is known as “Zillow Surfing”, and is meant to save searchers valuable time while they’re looking through available listings.

The interactive floor plans by Zillow give shoppers an in-person perspective of properties for sale or rent. The technology, which is powered by Zillow tech but available to use for free on listings anywhere, acts as a dynamic guide to give shoppers digital insight and detail so they can more quickly and easily narrow their search to only the homes they love and want to see in person. Zillow uses machine learning to not only generate floor plans, but also imports each listing photo and places it on the floor plan, giving shoppers an in-person perspective of a home’s shape and flow that simply scrolling through static images can never do.

“Zillow surfing has always been about imagining all the possibilities a move could bring, and Zillow surfing 2.0 is bringing those possibilities to life in a much more interactive, realistic way,” said Josh Weisberg, vice president of Zillow’s Rich Media Experience team. “Now shoppers can act more quickly and confidently, whether they’re searching in their own neighborhood or hundreds or thousands of miles away. We’re pushing the boundaries of what home buyers and renters can expect when shopping for a home online.”

For buyers and renters, Zillow’s AI-generated floor plan means navigating more seamlessly and naturally through photos, a 3D Home tour and other listing information, getting a remarkably accurate sense of a home’s flow and space. An hour of teleporting through interactive floor plans on Zillow can replace an afternoon, or longer, of scheduling tours and driving around town to see homes in person.

Did you know that nearly half of Americans have adopted a new dog since the start of 2020? With all of these new pet dogs, the canine retreat industry has been booming! But what does it really take to start your own canine real estate retreat like Paw & Pints? Is it really that difficult?

If you are trying to start a canine retreat, you are probably aware of how profitable they can be. However, it takes a lot of time and research to find the land, managers, employees, and so much more. Keep on reading for some tips on how to develop a canine retreat!

Learn Everything About Pet Boarding

Dog boarding is simply the act of caring for pets while their owners are gone. Pet owners pay a specific cost to boarding facilities for an agreed-upon duration of time.

The idea is to create a secure and enjoyable environment for animals to stay in when pet owners have responsibilities or want their animals to be entertained and cared for.

Learn the canine terms related to pet boarding and examine additional terminology resources. This will ensure you are aware of the lexicon and can communicate effectively when your business opens its doors.

Are you in the market for car insurance? Even with websites that help with the car insurance quotes comparison process, it can still be quite confusing especially when you don’t know what to look for. Apart from the usual main components of liability and comprehensive insurance, there are various add-ons that insurance companies offer.

What is an add-on?
An add-on is extra protection offered by the insurance company on the driving without insurance penalty policy. These extra protections are not part of the legal minimum that your state requires. As such, you don’t need to have them. However, you may find some of them useful depending on your personal requirements and circumstances.

Add-ons to ditch
According to Consumer Reports, the cost of car insurance premiums has risen since 2013 by over 10 percent. According to reports, these rates will continue to rise by 5-10 percent in 2016.

Car insurance add-ons come at an extra cost, after all insurers need to make a profit. While some add-ons are beneficial, others simply aren’t worth the extra cost. If you want to reduce the cost of your car insurance premiums, you need to know which add-ons to consider and which to ditch. The following are car insurance add-ons that just aren’t worth it:

If you already have comprehensive, collision or liability auto insurance coverage, then don’t pay more money for this add-on. You should also check with your credit card to find out what types of insurance they extend for rental cars.

Fannie Mae said in a monthly survey released this week that consumer’s confidence in the housing market is now at its lowest level since 2011, with both buyers and sellers increasingly pessimistic.

According to the survey, just 17% of respondents believe now is a good time to buy a home, down from 20% one month prior. However, the more telling statistic is that just 67% of sellers believe now is a good time to sell, down from 76% in June.

There are also far fewer consumers who think home prices will rise, with just 27% expressing optimism, down from 30% a month before.

Fannie Mae’s Home Purchase Sentiment Index comprises six factors – buying conditions, selling conditions, home price outlook, mortgage rate outlook, job loss concern and changes in household income. Overall, the index was down two points to 62.8 at the end of July. It’s down 13 points from the same month one year earlier, having hit an all-time high of 93.7 in the summer of 2019, prior to the pandemic.

“Unfavorable mortgage rates have been increasingly cited by consumers as a top reason behind the growing perception that it’s a bad time to buy, as well as sell, a home,” said Fannie Mae Senior Vice President and Chief Economist Doug Duncan.

Becoming a landlord is one of the easiest ways to invest in real estate. If you have a little extra money, property prices in your area are low, and rent rates are profitable, now may be an exciting time to invest in real estate as a hedge against inflation and to generate additional monthly income.

Not all investments are created equal. Investors in stocks on Wall Street have hit tough times in 2022. Retreating stock values are doing the opposite of what you need during inflationary times. In general, the price of real estate and rents rise right along with inflation. In tight housing markets, rent increases often outpace inflation. Although home prices are high, interest rates are still relatively low (compared to historical averages), this should still be a good time to lock in a mortgage to combat inflation.

Here are the key tips to getting started as a landlord.

1. Research the best investment area near you. Experienced investors sometimes venture outside of their own backyard but for beginning landlords, it’s wise staying close to home. You can keep your maintenance costs low by doing some of the maintenance yourself. Being able to periodically inspect your investment also brings peace of mind to the new landlord. Get started by researching neighborhoods near you that are known for the features that quality tenants are willing to pay top dollar for. Quality of life neighborhoods feature a good school district, walking distance to stores and amenities, and a short commute to decent-paying jobs. House-specific niceties include three or more bathrooms, a master suite, and stainless steel appliances in the kitchen. This is also the recipe for an investment that will appreciate in value along with providing a monthly income.

2. Crunch the numbers. Once you find the house that meets your basic requirements, it’s time to crunch the numbers before doing anything else. Although interest rates are low, qualifying for an investment mortgage still comes with stringent requirements. You can expect to need a 20% down payment. You can easily use an online mortgage calculator to crunch the numbers to see what your monthly mortgage payment will be. Other information that you’ll need includes the property taxes, insurance, and maybe HOA fees. Also, factor in about 10% for maintenance and repair costs. Of course, you’ll need to learn how much similar houses in the neighborhood are renting for. Your monthly rent goal is 1% of the value of the house. A $150,000 house should rent for about $1,500 a month.

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com.

Question from WildCat in CA: Hi Brian, I’ve been with Sierra for three years and we’ve decided to get married. At first, I was incredibly excited about this but after a few days, I started thinking about some of the implications. In particular, I thought about how marriage will affect our finances. I know that it’s not romantic but in many ways it seems like getting married can really mess up a couple’s finances. I have one big example that I’m asking for your help with. Sierra took out a mortgage to buy her parents a house a couple of years ago. She didn’t just co-sign for the mortgage, the mortgage is only in her name. Her parents pay a small portion towards the mortgage each month, but Sierra pays the bulk of the payment. So, here is my question. If we get married, will I become responsible for the mortgage on her parent’s house? I haven’t even talked to Sierra about this because I’m afraid it could destroy what has been a great relationship up until we started talking about getting married.

Answer: Hello WildCat. That’s a tough question that you’re asking. My first thought was that you could try writing your situation into some type of a prenuptial agreement and that is when I realized how important it is for you to get a knowledgeable attorney involved (I’m not an attorney). In my opinion, this goes beyond just general legal advice because there are so many possible variations involved. For instance, it could get in the way of the two of you buying a house if you don’t already have one. Or what could be the consequences if she defaults on the mortgage or even has to declare bankruptcy? Another complicated possibility is what happens if there is a divorce? Would you still be responsible for Sierra’s parent’s mortgage if you were no longer married to Sierra? Importantly, the laws vary drastically from state to state.

I understand why you are reluctant to talk to Sierra about this, there is nothing romantic about marrying someone else’s debt. The best I can offer are some broad and general thoughts about the possibilities of what it does mean when you marry someone else’s debt. California is a community property state, so I’m going to lean towards what this could mean in community property states.

If you live in a community property state, most debts incurred after marriage will be treated as the responsibility of both spouses. Nine states have community property laws: