According to Freddie Mac's latest survey, mortgage interest rates increased this week on positive employment numbers and higher bond yields. Mortgage interest rates rose across the board, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) released Thursday. Despite the increase, rates remain low overall. The average 30-year fixed-rate mortgage (FRM) has seen mortgage interest [...]
Sell a home in a short sale. You may have to pay taxes on the sale even if you lost money and may receive an IRS form 1099c Q: I formerly financed a property in Denver, Colorado that successfully underwent a short sale last year. I lived in the property from 2005 to 2008 and [...]
Is the housing news we’re getting good? That’s the question the New York Times asked in an editorial this week. And if you look at some of the press releases that have been issued recently, you might think that the housing market has indeed turned the corner. The National Association of Realtors announced that pending [...]
Consider refinancing your mortgage with your lender, but if you do not receive prompt attention seek out a different lender to refinance. Q: We would like to refinance our home. My husband’s pay was cut by more than half. We currently have a 6 percent 30-year fixed rate mortgage. We have not missed a payment [...]
With plenty of resistance from the Federal Housing Finance Agency (FHFA), the question this week when we consider real estate 2012: will banks finally mark to market? Is principal reduction finally on the way for struggling homeowners? And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show [...]
The latest Freddie Mac bailout will cost $146 million, according to the company's latest financial results. Here’s some news that comes as a surprise to no one: mortgage giant Freddie Mac needs another bailout. According to the fourth quarter and full-year 2011 financial results released Friday, Freddie plans to ask the Treasury for an additional [...]
Should you keep your cash safe or invest your money in your 401(k) or Roth IRA. Where should you invest your money given recent events? Q: With interest rates as they are and investments frequently losing money, does it make sense to fund my Roth IRA? Also does it make sense to continue to put [...]
Bankruptcy may cancel your debts and obligations, but secured lenders keep their debts alive in their mortgages and foreclosures may continue. Q: Due to my cancer diagnosis, and subsequent expenses, my wife and I filed bankruptcy in 2010. Just a few days ago we received a 1099-C from the second mortgage holder indicating they had [...]
The necessity of avoiding an IRS tax audit can make the process of filing taxes feel like a minefield. Here are some tips for claiming the right tax deductions, avoiding fraud and hopefully, a tax audit. The tax season is in full swing. There's no sidestepping it. It was American founding father Benjamin Franklin who [...]
Real estate sales are still a problem even as the economy improves and unemployment numbers get better. The economy looks a little stronger. New weekly unemployment claims are falling. More people are going back to work and the GDP is rising. Even consumer confidence took a big jump last month, as a historically warm winter [...]
