KateHorrell

Helping Military Families Make The Most of Their Money

Hurricane Evacuations, Military Entitlements, and Insurance Coverage


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I am updating this article as I gather new information – come back for the latest details! There’s a hurricane headed to the east coast of the United States, and military bases are preparing. Many military families are wondering if they should evacuate, and when and if the military or their insurance company will help… | Read More…

Why Does My Mortgage Payment Change From Year To Year? How Mortgage Escrow Works


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One of the most confusing parts of having a mortgage is understanding how the payment on your fixed rate mortgage can change, usually every single year. In order to understand why your payment changes, you need to know your escrow account works. An escrow account is an account that pays different bills related to the… | Read More…

How To Get A Refund Of The VA Home Loan Funding Fee


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Home mortgages guaranteed by the Department of Veterans Affairs (VA) are a valuable benefit of military service. One of the characteristics of a VA-backed home loan is that you have to pay a funding fee when you get the loan. However, some folks are exempt from the funding fee. If you pay the funding fee,… | Read More…

Kate Rants: If Your Rental Is Not Making Money, Stop Saying “It’s A Good Investment”


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As a financial educator, and a military landlord myself, I spend a lot of time talking to military families about their rental houses. In almost all cases, these are houses that the family bought at a duty station, and then rented out when they PCSed away from the area. Maybe that was the plan all… | Read More…

BAH Rate Protection (or The Grandfather Clause)


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As the Department of Defense (DoD) released their 2019 BAH rates, this is a perfect time to review BAH rate protection, or “the grandfather clause.” Each year, the DoD does a thorough study of the actual costs to rent a house in each military housing area. They use that information to adjust BAH, with some… | Read More…

How Much Should Military BAH Pay For?


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I was at a really great military spouse event on Wednesday (thanks, USO!) and someone mentioned that BAH doesn’t always cover the cost of housing. It’s true that a lot of military families spend more than their BAH on housing. I hear things like this all the time, something along the lines of “I don’t… | Read More…

The Simplest Reason Why Renting Will Save You Money


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Airman Mildollar, the author of the Military Dollar blog, introduced me to a saying that has become my new favorite. “When you rent, you never pay more than you rent each month. When you buy a house, you never pay less than your mortgage each month.” Unfortunately, neither Airman or I know the source of… | Read More…

Why You Should Rent During Retirement/Transition From The Military


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When leaving the military, many people want to buy a house. It’s a perfectly normal desire – for many military families, it’s been a long-term dream to put down roots and buy their “forever” home. No more crazy landlords, white walls, and unpacking every two years! I am so sick of unpacking! Unfortunately, the “forever… | Read More…

When Selling Your House At A Loss Is The Right Choice


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Military families have unique challenges when they buy a house.  The biggest challenge is what to do with the house when you receive PCS orders a few years (or months!) later.  Some folks bought the house with clear plans to turn it into a rental property, but the majority planned to sell, or didn’t have… | Read More…

Understanding Depreciation Recapture Taxes on Rental Property


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My friend Forrest has shared his article about depreciation recapture: What Military Landlords Should Know About Section 1250 Depreciation.  Sometimes it’s helpful to hear things from two different voices 🙂 You’ve owned a rental property for a few years, and it’s worked out pretty well.  You’ve made a little bit of money most years, and you’re… | Read More…

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Disclaimer

Kate does not represent the Department of Defense, the Department of Veterans Affairs, or any government agency. This blog is strictly for informational and entertainment purposes only. The content on this site should not be considered professional financial or legal advice. I may receive compensation through affiliate or advertising relationships from products mentioned on this site. All reviews on this site represent the personal opinions of the author. All references to third party products, rates, and offers may change without notice.