Real estate development inheritance costs heirs money. This reader expected a windfall and is wondering how to turn a money-losing situation into something that's at least breakeven. Q: My husband inherited a private development in West Virginia that his father owned. How does one go about starting a homeowners' association (HOA) for something like that? [...]
There are friendly and not-so-friendly divorces. But if your ex-spouse can't pay the mortgage because he lost his job, should you step forward and offer to pay off the remaining amount and give him the house just to be completely done? What's the price of being done? What would you do? Q: I have been [...]
Is the Tax Cuts and Jobs Act going to kill the housing market and tank home prices? With the passage of Tax Reform in the House of Representatives, real estate industry groups have gone on the warpath to prevent legislation they believe is ultimately damaging to real estate. Is tax reform going to kill the [...]
When a parent adds their children to the title of their home - and later sells that home - the tax implications for the children are complicated. Q: I read somewhere that what my mother did by putting her kids on the title to her home with her was wrong. How can the title be [...]
When a vacant lot in a depressed area becomes seemingly unsellable, a lot of creative thinking and hard work is needed to get the property off your hands. Q: Six years ago, I inherited a vacant lot from my dad when he died. My dad purchased this lot in 1963. However, he never did anything [...]
Many factors have to be considered when your lender backs out of a mortgage before you can take action against them. Here are a few that this reader and I want you to remember. Q: I’m writing in regards to your response to a reader’s question that was published in my local paper several [...]
Cosigning a mortgage for foreign property? What you need to know at tax time so you don’t get caught by the IRS. Q: I was wondering if you could help me find some answers. I helped my cousin buy a home in Canada which she used as her principal residence. I did not help her [...]
While you can’t always predict future tax liability on investment property, here are issues that many real estate investors struggle with when structuring an inheritance. Q: We have a rental property (titled in the name of our trust) which shall pass to our three sons upon our deaths. When our sons sell the property [...]
Before hiring a Realtor, this couple wants to visit a few open houses. Are there consequences for visiting an open house without an real estate agent without one? Q: My wife and I have recently started looking for a home, but we do not have a real estate agent yet. We are currently looking into [...]
The best time to take out a home equity loan varies depending on the lender and the home value. Q: My home will be paid off in February. My bank recommended that I obtain an home equity loan now. They told me that if I waited until after if was paid off I’d lose 30 [...]
