Q: My husband has heard you on the radio and has asked me to contact you about our mortgage problem. I am going through a non-profit housing agency and applying for the Making Homes Affordable Program. My own lender wouldn’t send me the application. They debited my bank account for the application fee but haven’t [...]
If you own a home, you might want to start thinking about the IRS. According to Julian Block, author of “The Home Sellers’ Guide to Tax Savings” (PassKey Publications, $19.95), there are ways to lighten your tax load whether you’re living in your home or selling it.
Late payments may trigger foreclosure process with the bank. A bank may begin the foreclosure process on a property due to late mortgage payments. Late mortgage payments may cause the bank to foreclose on a property. Foreclosure filings are online. Check foreclosure filings to see if late mortgage payments triggered the foreclosure process with the bank. Talk to an attorney if late mortgage payments triggered the foreclosure process with the bank.
Diana B. Henriques examines what we've learned from the Madoff Scandal in Wizard of Lies. Diana B. Henriques authored Wizard of Lies, a book that examines what we've learned from the Bernie Madoff scandal. Author Diana B. Henriques offers a financial cautionary tale in her book Wizard of Lies. Bernie Madoff, Wall Street and the United States financial system is examined by Diana B. Henriques in the New York Times financial reporter's book Wizard of Lies.
Don't use 401k withdrawal to pay off mortgage. Don't pay off a mortgage with a 401k withdrawal. Homeowners should not take money out of a 401k to pay off a home loan. Taxes and security issues are why homeowners should not use a 401k withdrawal to pay off mortgage loan. Homeowners should try to budget their money rather than use 401k withdrawal to pay off a mortgage.
Mortgage refinance options limited with underwater mortgage. Underwater mortgage has limited mortgage refinance options. Limited options for mortgage refinance for underwater mortgage include option to prepay your mortgage. HAMP loan modification process is one option for underwater mortgage mortgage refinance, but not widely offered. Mortgage refinance options for underwater mortgage include HAMP if homeowners qualify.
It's better to inherit property from your parents or family members rather than receiving it through a quit claim deed. The tax implications of receiving a property through a quit claim deed are much greater than inheriting a property. When estate planning, it's better to put the property in a will or trust, rather than transfer the property through a quit claim deed.
A new FICO study examines how late payments, foreclosures and bankruptcies affect your credit score. Different credit scores were compared - 650, 720 and 780 - to see how late payments, foreclosures and bankruptcies affected the credit profile. These home mortgage delinquencies affected the credit scores in different ways.
When a senior has a mortgage, a common problem might be whether to prepay the mortgage or save their cash reserves. The benefits of prepaying a mortgage come at the end of the mortgage. A senior might not live out the 20 years to see the benefit of prepaying a mortgage. It might be best to save cash reserves rather than prepay a mortgage.
A Lease Purchase or Rent to Own deal might be ideal for someone who is recovering from a foreclosure. After a foreclosure, you won't be able to get a loan. If you can find a seller who is willing to give you financing, a lease purchase deal could be a great option for a buyer trying to recover from a foreclosure.
