Should I refinance for 15 or 30 years? When refinancing a rental property, think about your long term and short term goals. Q: I am interested in refinancing a rental property that qualifies for the Home Affordable Refinance Program (HARP). I owe $91,000 on the first mortgage and I have a second mortgage at $19,000. [...]
WSB Radio’s Ilyce Glink Show: Buying a foreclosed home or condominium, managing your personal finances and using smart spending tips. On this week’s Ilyce Glink Show on WSB radio, Ilyce talked about her concept “rebuilding America one house at a time,” which is about learning how to make smart decisions about finances. Rebuilding America starts [...]
There are many mortgage fraud cases these days. Selling a house to yourself is considered mortgage fraud, which is illegal. Q: I just formed an S Corporation and I would like to raise some capital. Can I buy a house with my corporation at a good deal then sell it back to myself with a [...]
When wondering how to plan for the future financially, always remember to spend less than you earn and pay down your debt. Q: My wife and I have been married more than 30 years, but we don’t have any kids. In our adult lifetimes we have owned 11 homes in the United States and United [...]
Buying a car while refinancing your home can cause some problems if you don't have a lot of cash available. Q: Is it ok to buy a car while I am refinancing my home if I am paying cash for the car? A: If you don't take out a loan for the car and you [...]
Giving land to children? Be careful. Giving property to children can cause many problems if you haven't done your research. Q: My parents have agreed to deed two acres of their property to me plus an easement for the driveway back to the future home site. The land was surveyed. The county has confirmed that [...]
When figuring out how to refinance your underwater mortgage, be sure to look into the Home Affordable Refinance Program (HARP 2.0). Q: I enjoy your free weekly newsletter and Ilyce's Sunday show. I have a 6 percent mortgage with my lender on a rental property that has a balance of $75,000. The current value is about [...]
Sometimes a mortgage lender will make a last minute request of a borrower that could have been dealt with early on in the process. Q: I got your name while doing a search on the Internet and I have a question. I was about to go to my closing for my mortgage on the purchase [...]
In order to remove your name from a VA loan, you have several options: strategic default, short sale, foreclosure or bankruptcy. Q: I’ve read about strategic default and bankruptcy, and I’m a bit confused as to which is the better option for me. I have a VA loan on my house in Georgia, that I [...]
WSB Radio’s Ilyce Glink Show. Borrowers have loan questions with refinance programs and are seeking help with their mortgage problems with Chase Bank. On this week’s Ilyce Glink Show on WSB radio, we talked about how the Dow Jones record high last week does not spell relief for most Americans. While about half of the [...]
