A reader considers a strategic default on her home mortgage loan. Q: I am pushing 73 and my house is underwater. I have a first loan of about $140,000 and a second loan of about $18,000 with a 7.85 percent interest rate. My second loan has a balloon payment coming due soon. I was lied to [...]
Q: I lost the major portion of my income and I am looking to lower my mortgage payments, but my concern is that my income will now be too low for me to qualify for a refinance. I hate to spend the $500 for an appraisal and then be told that my income won’t allow [...]
Mortgage Rates Fall To New Lows: Why You Should Refinance on the Ilyce Glink Show September 18, 2011: Every week for the last four, mortgage interest rates have dropped to historic lows, setting new records with each outing. While there is much work left to be done to shore up the ailing housing market, for [...]
For the past four weeks, mortgage interest rates have fallen to new lows. That's not a one-time thing. Instead, in each of the past four weeks, mortgage interest rates have dropped a bit lower, allowing those of us in the news media that watch this sort of thing to proclaim a new record broken. Interest [...]
Q: Two weeks ago I refinanced my house. The title company gave me a CD with all the signed documents. Two days ago I looked at it for the first time and discovered the disc did not contain my documents but those of another couple who closed on the same day. I saw their full [...]
Earlier this month, the U.S. Census Bureau of the Department of Commerce released new data regarding construction spending during the month of July 2011. As is the case with the majority of housing and construction data that we've encountered in recent years, the picture is mixed. Construction spending in July 2011 stood at a robust [...]
September 11 Remembrances on the Ilyce Glink Show September 11, 2011: It was an emotional and reflective day on this special one-hour edition of the Ilyce Glink Show. Ten years after the 9/11 attacks on the World Trade Center in New York City, the Pentagon and a crashed airliner in Pennsylvania, most of us can [...]
It's September 11, ten years after the terrorist attacks in New York, Washington, D.C. and Flight 93, in a field in Pennsylvania. Ten years to remember and rebuild. Ten years to try and forget. We only had an hour on the show today because of our special 9/11 programming on WSB, but I wanted to [...]
Q: Can you please help me. I am 32 years old and earn $63,000 a year and invest 8 percent of my salary into my company’s 401(k) plan. I have $90,000 in cash in the bank. I also have a $45,000 certificate of deposit earning 4.5 percent that matures in 2 years. I have a [...]
Q: I previously wrote to you and asked about investing in real estate. Since that time, I've moved from thinking about buying a single family house or two to actually purchasing and rehabbing about 45 units located in about 15 buildings. We chose multi-family as our desired real estate investing platform and are now unloading [...]
