Refinancing? Mortgage Interest Rates At New All Time Low. Freddie Mac reported today that mortgage interest rates fell again and hit a new all-time low. Should you refinance? And what should you do if you already locked in your new mortgage interest rate? Should you break the interest rate lock? What about float-down options?
Today on the Clark Howard Show, Ilyce Glink is filling in as she discusses the latest economic news and shares personal finance, real estate and consumer advice. The Administration ups pressure on banks to help homeowners with loan modifications; Bank of America clearly spells out credit card terms; home sales rise to highest level in 2.5 years; are you in loan modification hell? Here's how to find the CEO of your mortgage lender. Listen to the podcast here or download from iTunes. For more show notes and helpful links, read Ilyce's blog
Clark Howard Show Notes - November 30, 2009; Administration ups pressure on banks to help homeowners with loan modifications; Bank of America clearly spells out credit card terms; home sales rise to highest level in 2.5 years; are you in loan modification hell? Here's how to find the CEO of your mortgage lender, and a link to the kind of letter you should write; New ThinkGlink Ebooks on INVESTING IN REAL ESTATE; FREE BOOKS and EBOOKS; low speed tax credit information;
Ilyce Glink Show Notes - November 29, 2009. Are you in loan modification hell? Treasury is supposed to begin pressuring lenders to do more loan modifications. 50 Simple Steps You Can Take To Disaster-Proof Your Finances. FREE BOOKS; EBOOK DEALS; Join me on Clark Howard tomorrow, 1-4p ET.
Today on the Ilyce Glink Show, we took lots of calls from people who are in loan modification hell. Treasury is supposed to begin pressuring lenders to do more loan modifications, but borrowers don't seem to be getting much relief. Do you have a loan modification story to share? Listen to the podcast here or download from iTunes. Listen to callers' stories and as Ilyce shares more personal finance, real estate and consumer advice. For show notes and helpful links, read Ilyce's blog
Clark Howard Show Notes - Black Friday 2009; shoppers were disappointed; Cyber Monday this Monday; Crystal's Leftover Mashed Potato Pancake recipe; How to Find Loan Servicer Company CEOS so you can complain about your loan modification; free books and ebook deal
Today on the Clark Howard Show, Ilyce Glink filled in and talked about how a lot of people were disappointed with the Black Friday deals and the stock offered in stores. Ilyce also shared more loan modification from hell stories and told how to get in contact with your loan servicer CEO to take your complaints to the top. For more real estate, personal finance and consumer advice, listen to the podcast here or download from iTunes. For show notes and helpful links, visit Ilyce's blog.
If you need to remove your name from and old mortgage but don't want to remove your name from title, you may have to refinance the old loan and then make sure that your name and credit are not needed for the new loan. The loan and the ownership of title are different items and can sometimes work in different ways. While you usually must own the title to the home and all owners must also be obligated under the loan, there are times when one of the owners can be solely responsible for the debt and the others on title need not be responsible for the debt under the mortgage and loan.
$8000 First Time Home Buyer Tax Credit Does Not Restrict Seller Financing
If you are looking to buy a home and you are a first time home buyer, you can still qualify for the home even if the seller gives you financing. You still need to meet all of the other qualifications for the $8000 first time home buyer tax credit, but you can purchase the home with seller financing.
$8000 First Time Home Buyer Tax Credit Has Rules Against Buying From Close Relatives
If you want to buy a home and you are a first time home buyer, don't try to buy a home from a close relative. The IRS rules for the $8000 first time home buyer tax credit do not allow you to buy a home from your parents or siblings. A first time home buyer can find lots of homes in the market to qualify for the $8000 first time home buyer tax credit without having to try to buy a home from a relative.
