Ilyce

For some couples, breaking up is hard. For others, its easy. When it comes to personal relationships, it's sometimes easier to part ways with a friend than dividing up assets after a separation. In some cases, a person may have a lingering attachment to a home or personal property items. In others, a person may still have an emotional attachment to the former friend, spouse or significant other and may continue to help out with the bills. But at some point in time, the separation must be final and the assets must be divided in some way shape or form.

Real estate values may not be going down as fast as they were but the market for real estate is still in the dumps. In some places, real estate values are down 50% from the high; new condominium developments are selling for a fraction of what they were selling for at the high of the market. With all that inventory out there some homeowners are desperate. Some homeowners have lost they jobs. Some can't make ends meet. For many homeowners, the time has come to decide where to put their money and decide whether to consider a strategic default on their mortgage.

If you purchased a timeshare back when real estate was hot and now you have second thoughts about owning the timeshare, your first thought might be to give the timeshare back to the developer. However, you just can't give the timeshare back to the developer without the developer's approval. Even if you use a quit claim deed and transfer the timeshare back to the developer, the developer must accept the delivery of the quit claim deed. Your options are to sell the timeshare in the open market, hire a company to sell it, trade the timeshare, or rent the timeshare.

$8000 First Time Home Buyer Tax Credit Questions Continued
We have written dozens of articles on the first time home buyer tax credit. If you didn't have a binding contract signed on or before April 30, 2010, you won't qualify for the first time home buyer tax credit or the move up home buyer tax credit for $6500. If you did have a binding contract signed on or before April 30, 2010, you must close on that purchase no later than June 30, 2010. Your settlement statement from the purchase must be dated on or before June 30, 2010.

Ilyce Glink Show Notes May 16, 2010 - Fraud Alert - Roofing and Homeowners Insurance - Stock Market Update. Today on the show we talked about how scam artists are targeting people who are trying to repair their nest eggs. Hail damage, we took a ton of calls about roofing problems, hail damage and homeowners insurance. We talked about annuities and how the 1,000 point stock market swoon caught people who had sell orders and they got burned financially. Fee only financial planners and how to protect yourself and your assets. Also, what are you really worth? Books and Ebooks - ORDER TODAY!

Ilyce Glink Show Notes May 16, 2010 - Fraud Alert - Roofing and Homeowners Insurance - Stock Market Update. Today on the show we talked about how scam artists are targeting people who are trying to repair their nest eggs. Hail damage, we took a ton of calls about roofing problems, hail damage and homeowners insurance. We talked about annuities and how the 1,000 point stock market swoon caught people who had sell orders and they got burned financially. Fee only financial planners and how to protect yourself and your assets. Also, what are you really worth? Books and Ebooks - ORDER TODAY!

If you are thinking of buying a home, you might want to consider whether you are better off renting or buying a house. As the real estate market has changed, many would be home buyers have become home renters and many renters have decided to go and buy a home. But the decision whether to buy or rent a home can be an emotional decision but a would be home buyer or home renter should also make the financial decision whether he or she is better off buying or renting a home.

A reader commented that buyers of real estate should obtain an independent appraisal of any real estate that wish to purchase. However, the cost of an appraisal may outweigh any benefit you may get out of the appraisal. There are other tools out there available to purchasers of real estate to determine whether home prices are declining or increasing. Good real estate brokers and agents have tools available at their disposal to determine where prices are in a certain neighborhood. If nothing has sold recently or if there is a rash of foreclosures, a good real estate agent that works a particular area may have a better feel for where prices are than an appraiser. The key is to find a good real estate agent that will look out for your interests.

Even when you find a home and the seller is offering seller financing, you probably need a good credit score. People with low credit scores can scare sellers and make them refuse to give you seller financing. If you are a seller offering seller financing, make sure your purchase and sale agreement or your sales contract provides you an opportunity to review the prospective buyer's credit history, credit score and references before committing to giving the buyer seller financing.