Stock Market Madness on the Ilyce Glink Show August 14, 2011: Wall Street has been somewhat unpredictable for the last few years, but this week we experienced nothing short of stock market madness. In the end, we lost a manageable 175 points in total, but that conclusion was punctuated by huge runs and big losses [...]
Q: I’m confused about something. I received a notice in the mail recently that my mortgage loan with a big box lender was being modified. Now, I have two mortgages and neither is with that big box lender. But, I wanted to find out what was happening so I called the number in the notice [...]
Q: I have two homes in two different cities. One of them is a rental and the other is our primary residence. My wife and I have excellent credit and we have an existing home equity line of credit (HELOC) on our primary residence with about a $20,000 balance. We get excellent offers from other [...]
Q: Several years ago my husband and I purchased a vacant lot for $11,000 in a lake/golf community more for investment than planning to build. We're recently "retired” due to job cuts and not because it was our choice. We do not want to be stuck with the continuing payments for the property taxes and [...]
The news from HOPE NOW, the industry-created alliance of mortgage servicers, investors, counselors, and other mortgage market participants, is that the endless miseries of loan modification hell may be abating. If Americans, who were in need of a loan modification, were in Dante’s second or third circle of Hell (as punishment for trying to achieve [...]
For more real estate and personal finance advice, visit Ilyce on the Equifax Personal Finance Blog. If the calls I received today on WGN Radio say anything about how Main Street America is feeling right now, people are fed up with incompetence. After the Debt Ceiling debacle and downgrade in the U.S. credit rating, everyday [...]
Many of the callers into my radio show express frustration at their inability to get out of debt. Unemployment, high gas prices and a stagnant housing market are keeping many Main Street Americans treading water. In response to these hardships, Wells Fargo announced its 36th free Home Preservation Workshop in Chicago on August 17-18, 2011. [...]
Are We Really Out of the Recession? on the Ilyce Glink Show August 7, 2011: Welcome to the worst week of financial news since 2009. Let's dive right in shall we? Among the week's highlights that callers dial-in to discuss with me: It was the worst week for the stock market since the financial crisis [...]
Q: My dad and my mom bought a house with a mortgage. My mom died, and my dad married my stepmom. They took out a second loan on the property, but then separated for awhile. During that period of time, my stepmom had my dad’s name removed from the second mortgage. The primary loan is [...]
Q: I was listening to you on the radio and I believe I heard you mention that FHA was now participating in something called the UP program, which you said was forbearance on mortgage payments if you are unemployed. Additionally, you said that Fannie Mae and Freddie Mac should be following suit and requiring their [...]
