Foreclosure relief is needed to stem the rise but the unemployment rate needs to go down to allow people to earn money to pay their mortgages. Recent statistics may be getting less worse but the economy is still shedding jobs and there are increasing numbers of foreclosures. Eventually the numbers will turn around, but the question is when will we get foreclosure relief and a reduction in the unemployment rate?
When it comes to choosing how to hold your real estate investments, you can choose from many options. The most popular options are using an LLC to own real estate or a corporation. Some decide that they would prefer to hold title to their real estate investments in their own name. Is it wise to own investment real estate properties in your own name?
If you are making the largest investment of your life, wouldn't you want to make sure you are protected by obtaining and buying title insurance? When you buy title insurance on a house, a title company gives you certain guarantees that you are the rightful owner of the home and certain other title protections. Title insurance does not protect you against future title problems that might develop nor does it protect you from fire or other casualties. But if you are paying cash to a seller are you certain the seller will give you good title to the home?
Foreclosure numbers are dreadful in Q3 2009. Hard to imagine that the foreclosure numbers could get any worse, but the Q3 2009 numbers stunk to high heaven. Two-thirds of the foreclosures in the U.S. are concentrated in the top 10 states, but that won't make homeowners feel any better. Foreclosures are job-driven, and while the unemployment number keeps rising, foreclosure numbers will continue to rise, according to RealtyTrac.
Can you still contribute to a Roth IRA if your company makes an ESOP contribution to your retirement account? A reader wants to know if there are any limitations on contributing to a Roth IRA even though she gets stock from an ESOP account and has a 401(k).
Taylor Bean and Whitaker: From reader comments and questions, we have some answers for Taylor Bean and Whitaker customers. Dealing with the failed mortgage servicer has been frustrating for customers who are concerned about the state of their mortgage loan. Most answers won't come until after the October 31 court deadline, but we have answers to some of the most common and pressing customer service issues with Taylor Bean and Whitaker.
Today on the Ilyce Glink Show, Ilyce discusses the upcoming How to Profit from Foreclosures event, and recent economic news like the GDP and unemployment numbers. She took questions from callers and there was some great real estate advice and personal finance advice from the show, like from Ken who shares his tips on how he saves money after getting a big pay cut. Listen to the podcast here and see more show notes at Ilyce's blog.
If you are a parent and want to assist your child in the purchase of a home, you may want to give your kid a gift. But if that gift consists in the entire value of the home, you may have gift tax limits and federal gift tax consequences to deal with.
While you should still be able to give the gift and will have gift tax consequences, your child will still be able to purchase a home with your gift.
If you want to pay off a debt held by a collection agency, there are certain things you should know. Depending on how the collection agency will report the payment, your credit report, credit history and credit score may be affected differently. It's important that you know how the collection agency will report your payment. While paying off the debt held by the collection agency is easy, you should understand the impact it will have on your credit.
If you have an interest only loan, it may be a good time to refinance the mortgage loan. You will owe the same amount today on your Interest only loan as you will in ten years. On an interest only loan you never pay down the principal balance. If the interest on your loan is high, you should consider refinancing the interest only loan. If you plan to live in a home a short period of time, refinancing an interest only loan may not be right for you.
