No health insurance coverage can saddle anybody with debts beyond any means of repayment. But when a loved on dies and leaves those medical debts, spouses and family members are left to pick up the pieces. Proper estate planning is a must to make sure debts can be paid after debt and that property assets go to the right people.
UPDATE: (11/9/09) The new $6,500 tax credit for trade up buyers is effective as of the day the bill was signed, November 6, 2009, according to Sen. Isakson's office.
With the extension and expansion of the $8000 first time home buyer tax credit, lots of our readers are happy. But some are rather angry. Some of the people that would have benefited from the expansion of the tax credit have purchased homes and won't get the benefit of the tax credit. Others want clarification to see if they will qualify for the "new and improved" home buyer tax credit.
If you apply to refinance your loan and get quoted terms, can you force the lender to abide by those terms? What if your property received a low appraisal? What if declining home values caused your home value to drop below what you owe on your current mortgage? And what if you decide not to go forward with the loan refinance, can you get your application money back?
Land contract -- also known as installment contracts for deed -- are complicated documents. If you are not careful, you could end up in a mess. Some issues that can lead to problems in a land contract are title issues, including unpaid real estate and property taxes. But unpaid taxes could be the lesser of some of the title problems you can encounter using a land contract. This reader found unpaid property taxes from years earlier about a year after entering into the land contract.
Short sales, foreclosures and other purchases of real estate can always lead to problems. One risk in buying a home in foreclosure or from a seller in a short sale is that the seller or the bank owner had work done on the property and the contractor never gets paid. The contractor, in this case a painter, then files a contractor lien on the home and the subsequent buyer may get stuck with the bill.
Ilyce Glink Show Notes - November 1, 2009. How has the credit crisis and recession changed you and your spending habits? I want to hear from you. Free books and ebook deal. This week, our latest ebooks, on investing in real estate, will be released on ThinkGlink.com as will our podcasts from our How to Profit From Foreclosures event. Sign up for our free weekly newsletter to get the latest information, discounts and deals.
How do you pursue a career in real estate? Where should you start your search when looking to become a real estate agent? A reader wants some job advice in this area.
Chapter 7 bankruptcy still affects a buyer's credit history even after seven years from the date the bankruptcy was filed.
First time home buyers and others can celebrate soon. There's movement to extend and expand the first time home buyer tax credit. But wait, there's more. The new and improved home buyer's tax credit will be expanded to include higher income earners and existing home owners. The fragile real estate may have hit a jackpot as the expanded and improved tax credit was surely supported by the real estate industry and residential mortgage brokers. It's the new and improved home buyer tax credit.
If you receive a full price offer for the sale of your home, can the lender still consider the sale a short sale? What if the full price offer covers all expenses and covers the entire amount owed to the lender, would the sale still be a short sale?
This reader questions why a lender might under all circumstances consider a full price offer as a short sale no matter what.
