Changing the name on a title to a home is bad idea if you're stuck in a bad marriage. Think about divorce and financial independence. Q: Years ago, I bought my mother's house and then made the mistake of getting married for a second time. His name is second on the title to the property. [...]
What do real estate agents earn in commission? Negotiating a few thousand dollars on a home price won't bolster their commission much. Q: We are trying to buy a bank-owned house. The listing price was $115,000 and we offered $90,000 last week. The listing agent wrote back, "The bank said $96,000. All other terms the [...]
When selling a rental home, understand the tax implications of selling the rental home and the 1031 exchange rules if you buy a new home. Q: I was wondering if you would be so kind and clarify something for me. I have a rental home that I have rented out for the past 18 months. [...]
Refinancing small mortgages can be difficult, but you may be able to get a lower interest rate without refinancing through HELOC alternatives. Q: I have a house. The original mortgage I took out was for $110,000 at 7.5 percent, and I still owe $37,000. My problem is that no one will refinance the $37,000. They [...]
In strategic default, a homeowner walks away from a mortgage though they can make payments, prompting foreclosure. Q: Recently in my local paper, I saw an article you wrote on strategic foreclosure. I now cannot locate it. Would you be kind enough to forward it to me? Thanks so much. A: We don’t have anything [...]
If you want to refinance an underwater mortgage loan after the PMI is removed, look into a HARP 2.0 refinance, but there are fees and costs. Q: My husband and I purchased your book "100 Questions Every First-Time Home Buyer Should Ask" ten years ago. We are happy to say we have never been late [...]
Dividing joint property when a co-owner dies without a will depends on whether title was held in joint-tenancy or tenants in common. Q: I own a home jointly but the other owner passed away without a will. His family has filed a suit to partition and insists that if I don't buy them out they will [...]
We may be in another recession in 2012, which could mean higher unemployment and a decline in home values as foreclosures are on the rise. Are we facing another recession? Last week’s employment numbers, revised GDP numbers, and other economic indicators certainly pointed in that direction. The Federal Reserve Bank started making noise about a [...]
We're in a real estate depressions and homeowners continue to be in trouble. The housing market may not seem like the most stable place to put your assets, but it's still your most important investment. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show June 10, [...]
A short sale may stop you from buying a new home for several years, as well as hurting your credit history and credit score. Q: We are saving to buy a second home to find better schools for our kids and because we are 50 percent upside down in our current home. We plan to [...]
