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 [...]
Loan modification may stop the foreclosure for homeowners who own half a house built on two parcels of land. Q: I was in foreclosure and my home was ready to go on the auction block when I notified the sheriff’s office that they were selling half a house. My loan is owned by one of [...]
A refinancing mistake may cause problems with a lender. Save all mortgage and refinance documents and carefully review them to avoid refinancing mistakes. Q: Our lender purchased our mortgage in 2003. Even though we own 35 acres of land, we have had only a two-acre cutout involved in the home mortgage for the more than [...]
Recession is coming again. Don't let the presumed end of the Great Recession in 2009 fool you. Horrible housing market numbers from the National Association of Realtors and deplorable news in unemployment predict more instability for the economy. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink [...]
