Selling to kin or friend, you must have long arm

(Flickr photo by qwghlm)

Although engaging in any financial dealings with family or business friends can be fraught, it also can be fraud if the transfer of ownership of real estate is not conducted at arm’s length.

I came across a reminder about the danger of selling property to your brother-in-law or best business bud in a recent bankrate.com column by Steve McLinden, who cautions readers that. . .

There’s just one reason to seek a 30-year mortgage

(Source: BankRate.com)

Since most American move every five to seven years, it’s a fair question to ask why most will opt for a 30-year fixed-rate mortage (FRM) these days.

Of course, we all know the answer: Rates are low and it’s nice to know that a homeowner’s monthly payment will never rise.

But let’s look at the matter from a different perspective,