What is the return policy?

Most unopened items in new condition and returned within 90 days will receive a refund or exchange. Some items have a modified return policy noted on the receipt or packing slip. Items that are opened or damaged or do not have a receipt may be denied a refund or exchange. Items purchased online or in-store may be returned to any store. Online purchases may be returned via a major parcel carrier. Click here to initiate a return.

How long does it take to process a refund?

We will reimburse you for returned items in the same way you paid for them. For example, any amounts deducted from a gift card will be credited back to a gift card. For returns by mail, once we receive your return, we will process it within 4–5 business days. It may take up to 7 days after we process the return to reflect in your account, depending on your financial institution's processing time.

What is the policy for late/non-delivery of items ordered online?

Our local teams work diligently to make sure that your order arrives on time, within our normaldelivery hours of 9AM to 8PM in the recipient's time zone. During busy holiday periods like Christmas, Valentine's and Mother's Day, we may extend our delivery hours before 9AM and after 8PM to ensure that all gifts are delivered on time. If for any reason your gift does not arrive on time, our dedicated Customer Service agents will do everything they can to help successfully resolve your issue. Click here to complete the form with your order-related question(s).

When will my credit card be charged?

We'll attempt to securely charge your credit card at the point of purchase online. If there's a problem, you'll be notified on the spot and prompted to use another card. Once we receive verification of sufficient funds, your payment will be completed and transferred securely to us. Your account will be charged in 24 to 48 hours.

Will I be charged sales tax for online orders?

Local and State sales tax will be collected if your recipient's mailing address is in: Arizona California Colorado

Mortgage

February 07, 2024

Interest-Only Mortgages: A Double-Edged Sword

The Allure and Allure of Interest-Only Mortgages: A Double-Edged Sword

Imagine owning your dream home, yet your monthly payments barely touch the principal balance. That's the enticing world of interest-only mortgages, where payments cover just the interest, not the loan itself. While it sounds like a financial fairy godmother, this mortgage magic comes with a hefty dose of reality.

The Initial Sparkle:

The Council of Mortgage Lenders reports a rising trend: nearly 6 million homeowners, including first-time buyers, have embraced interest-only mortgages. Why? Lower monthly payments make homeownership seem more attainable, especially for those with tight budgets.

Let's Break it Down:

Say you borrow $100,000 at 4.99% for three years with a traditional mortgage. Your monthly payment would be around $600, gradually chipping away at the principal. But with an interest-only option, that payment drops to $400, freeing up significant cash flow.

The Hidden Catch:

Here's the rub: after three years, you still owe the entire $100,000! You haven't made a dent in the principal, meaning you must have a plan to repay it later. This could involve:

Lump sum payment: This hefty sum can come from selling investments, inheritances, or even selling the home itself.
Switching to a repayment mortgage: Your monthly payments jump significantly, but you'll finally start reducing the principal.
Refinancing: Depending on market conditions, you might refinance into a new loan with a repayment structure.

Playing it Safe:

Remember, relying solely on rising house prices to cover the principal is risky. If the market dips, you could be stuck with a mountain of debt and a depreciating asset.

So, is an Interest-Only Mortgage Right for You?

Proceed with extreme caution:

Thoroughly assess your financial situation. Do you have a foolproof plan to repay the principal later?
Seek professional advice: A financial advisor can help you crunch the numbers and explore alternatives.
Consider your risk tolerance: Are you comfortable with the potential consequences of a falling housing market?

An interest-only mortgage can be a tempting gateway to homeownership, but remember, it's a loan, not a magic trick. Approach it with careful planning and a healthy dose of reality to avoid turning your dream home into a financial nightmare.

Mortgage