Lending money to family and friends can lead to problems, particularly if they get divorced. Recovering the money may be even harder. Q: My wife and I are in our late 60's and two years ago we loaned my son and his wife $60,000 for a down payment on a home. They bought the home [...]
Eighty-five percent of homeowners maintained or reduced their mortgage debt in the fourth quarter of 2011, many by refinancing their mortgages, according to a report released Thursday by Freddie Mac. Earlier this week, a report issued by NPR and ProPublica accused the government-sponsored entity (GSE) of profiting off underwater homeowners by investing in funds that [...]
Should you make your contributions into a Roth 401k (post tax money) or make contributions to a non-Roth 401k (pre tax money). Q: My husband and I are trying to determine whether he should continue to make retirement contributions into a Roth 401K or whether he should resume contribution to a regular, tax deferred 401K. [...]
Announcing the creation of a Family Money page on the Equifax Finance Blog. I am partnering with Equifax in 2012 to help you be more strategic with your money and investments. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show January 29, 2012 on WSB Radio. [...]
We examine the ways in which the economy and the housing market are dependent upon each other in 2012. Also mortgage interest rates hit another low. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show January 22, 2012 on WSB Radio. It seems like I say [...]
Many adjustable rate mortgage (ARM) loan interest rates are tied to the London Interbank Offered Rate (LIBOR) and that rate has recently gone up. Q: My mortgage is adjustable, tied to the one year LIBOR. Up until the last few months, that was a good thing and my interest rate stayed very low. But lately, [...]
Not all landlord tenant complaint and issues need to be handled with a lawyer, some need some common sense understanding. Q: I recently purchased a nice four bedroom apartment in Miami. Many years ago, a former owner took two condominiums, each with two bedrooms, and combined them into a four bedroom apartment. When I purchased [...]
When a lender fails to respond to your requests to refinance an underwater mortgage, you might have to file a complaint with the OCC. Q: We purchased the home in year 2006. We only put down 5 percent and have a first mortgage at 7 percent and a second at over 8 percent. Despite our [...]
Loan modification or refinance hell continues for homeowners even when a lender invites a borrower to refinance. Q: I'm not sure where to turn with respect to what’s going on with our mortgage. I have been with my lender (a big national bank) for almost 13 years and I have been trying unsuccessfully to refinance [...]
