Are transfer on death (TOD) deeds smart? This reader wants to know if it’s a safe way to avoid costly probate for children after their death. Q: I am thinking of doing a transfer upon death (TOD) deed to avoid costly probate for my children. Is this wise and safe to do? Would my heirs [...]
Watch out for these real estate trends in 2019 from the Urban Land Institute, including increasing insurance payouts and heightened cybersecurity risks. The most startling trend they’ve documented (and we’re all experiencing) is the tremendous cost of natural disasters. Major natural disasters like hurricanes and wildfires cost the U.S. a shocking $50 billion in 2016 [...]
If the mortgage wasn’t closed properly when you sold your home, what can you do? Some legwork is required to get the answers you need from the mortgage company. Q: I sold my home three years ago but the mortgage company says that I still owe money on the mortgage. I told them the loan [...]
Is renting or home buying right for you in retirement? The answer depends on both your financial situation and your health. We recently received a couple of questions dealing with couples who are in their sixties, seventies and eighties that are planning to move and wonder whether they should buy or rent their next home. [...]
If you don’t have a mortgage today, it’s unlikely you’ll get one in the future. More than 70 percent of those without mortgages aren’t likely to get one in the future, and the 2008 housing crisis greatly influenced their aversion to homeownership. So, what’s causing the reticence? Retirement is the most common reason Americans say [...]
Who pays for title insurance when selling a home: the buyer or the seller? The answer depends on the customs and practices of each individual state. Q: Is it mandatory for a seller to pay for title insurance in Oregon especially if they were sole owner of home from the day it was constructed? A: [...]
What happens to my taxes when I buy my parent’s home? New tax laws haven’t changed much, but there are still implications to consider for you and your parents. Q: My parents want to sell their house to me as part of a retirement plan. We’re hoping to find a way where I can make [...]
Mortgage fraud rose more than 10 percent nationally from the second quarter of 2017 to the second quarter of 2018, according to the latest fraud report from CoreLogic. CoreLogic’s report measures mortgage fraud across six fraud type indicators: property, income, occupancy, identity, transaction and undisclosed real estate debt. “Because home prices are rising and demand [...]
Is a mortgage recast right for you? Consider these 4 factors for a “home run refinance” to determine if the deal is a good financial move. Q: I was offered a mortgage “recast” and I need help evaluating if it is a sound financial move. My home is worth $250,000 and I owe about $68,000 [...]
If I get divorced and then sell my home, can I still take the $250,000 tax exclusion? The answer depends on a few basic factors the IRS uses to see if you qualify. Q: If I get divorced but still live in the marital residence along with my ex-husband, when we sell the property, do [...]
