Selling an investment property you inherited at a loss may not give you any tax benefits. Q: I purchased a townhouse with my aunt five years ago. She passed away last year, and I want to sell it. We paid cash for the house and now the home is worth about 35 percent less than [...]
If you're planning to sell your home to a family member, you need to evaluate your options before using seller or owner financing options. Q: A few months ago, I purchased a Fannie Mae HomePath home at a great value which I am renting to my daughter and her husband. I am able to rent [...]
Ilyce Glink appeared on the CBS Early Show and discussed ways to beat bank fees, like those debt card fees charged by Bank of America. Bank of America recently announced it would charge a $5 fee to its customers for using debt cards, and other banks may soon follow their lead. I've received a lot [...]
Once signed, it may not be easy to terminate a contract for a home. Q: My friend and I are in the final stages of buying a house. The property is going to be in her name only but some things have changed and we no longer can afford to buy the home. What are [...]
Now may be the time to refinance. If you have a great credit score, you will have the ability to obtain the best and lowest refinance rates out there, but you may need equity in your home to refinance. Q: I purchased a house in March and got a 30-year fixed-rate mortgage 4.85 percent. I put [...]
Loan Modification Hell starts with the signing of the trial loan modification papers with a lender. Q: I just began a loan modification trial period in September for a period of 4 months with a major bank. I am a rule follower, a teacher, and a single mom. I have never been late on a [...]
You need money for your closing and the closing costs and you usually have to send that money to the closing via a bank wire transfer. Q: I am buying my first home and I’m wondering how I actually pay my down payment at the closing. The real estate agent asked me for a small [...]
Finding a good mortgage lender can be time consuming, but it shouldn't be too difficult. Q: I heard your radio show this past weekend on refinancing. It sounds like you got a really good interest rate. My problem is that I don’t know how to find a good mortgage lender. There are so many ads [...]
When I was touring South Africa as a recent high school graduate in the summer of 1996, a strange pattern caught me by surprise. In more than a few instances, when I informed a stranger that I hailed from the city of Chicago, Illinois, their first question was: "Are there still gangsters?" The [...]
Occupy Wall Street: What Consumers Are Angry About. Ilyce discussed this topic along with other questions from callers, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show October 16, 2011 on WSB Radio. As the Occupy Wall Street movement marks its sixth official week, many who have not followed [...]
