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 [...]
Bank refinance offer in the mail may be your best bet if you have a low balance mortgage loan. Q: I enjoy your column each week and have a refinancing question for you. I purchased my house in 1997 and refinanced in 2003. My current loan balance is small at about $75,000. On Tuesday, I [...]
You may want to file a complaint with the OCC if your bank has wronged you, but you may also be entitled to a foreclosure review. We received yet another email from a woman who has been trying to keep her house out of foreclosure for the past 18 months. She reached out to the Office of [...]
If you're interested in buying or renovating a home, one of the few loan products remaining is the FHA 203(k) home renovation loan. Q: My husband and I would like to purchase a neighbor's home to remodel and live in. It needs extensive work. I estimate we would pay him roughly $250,000 for the home [...]
Mortgage lenders that service home loans have their own take on the financial, mortgage and credit crisis and have their own problems also. Q: I think you should consider the cost incurred in servicing delinquent loans before declaring that lenders profit from servicing them. Most servicers of mortgage loans must remit payments to the investor [...]
