You can expect to pay at least $3,000 a month for a care in an assisted living center and more than $6,000 a month for care in a nursing home. A long-term care insurance policy typically pays from $50 to $250 per day for nursing home care.
If a home could be worth less in six months than it is today, a lender will be very concerned about getting an accurate value in order to ensure they will be able to recoup the loan amount. In this kind of market, lenders may want an appraisal to be no more than 90 to 120 days old. FHA guidelines once called for an appraisal to be considered valid for six months until January 2010.
(The higher your basis, the lower your capital gains tax might be.) Keep all of the latest refinancing documents. If you sell your house, hang on to all records for seven years, because that's how long the Internal Revenue Service has to audit you. Find out how to get the best rate on a mortgage. For more news and articles about mortgages and personal finance, subscribe to our feed. Consumer Reports has no relationship with any advertisers or sponsors on this website. Copyright Â© 2007-2013 Consumers Union of U.S. 1  Investing Education. 2  Finance. 3  mortgage.