Ilyce Glink, ThinkGlink.com and Best Money Moves
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Ilyce

About Ilyce Glink

Ilyce Glink is an award-winning, nationally-syndicated columnist, best-selling author, and radio and television personality. She is the best-known consumer advocate for home buyers, sellers, and owners, and her content touches millions of readers, viewers, and listeners each week. She is the Founder/CEO of Best Money Moves, an employee benefit that companies provide that helps employees measure financial stress, then dials it down with a unique content mapping system. She is also the Founder/CEO of Think Glink Media, a digital content agency, and the Publisher of ThinkGlink.com. Listen to Ilyce on WGN Radio each week, follow her on Twitter, and sign up for the ThinkGlink free weekly newsletter, in the blue box at the bottom of this page.
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Joint Tenants: Owning Primary Residence With Others

By | February 28th, 2009|

Deciding to own property with another family can be stressful, because of credit and finance implications if one family doesn't make mortgage payments. Ilyce suggests buying in a multi-family building, or buying as joint tenants or tenants in common, or having a real estate attorney help subdivide the property and turn it into a condominium. The most important thing when owning property with friends is to protect yourselves and make sure whether you're joint tenants, co-owners of a building that's turned into a condo, your finances won't be compromised.

Credit Report: Rebuilding Good Credit After Bankruptcy

By | February 28th, 2009|

It is possible to rebuild your credit after bankruptcy. But, once your bankruptcy is discharged, you must continue paying back your loans on time, in order to rebuild your credit and improve your credit report. One bankruptcy is discharged, it's easy to slip back into old habits instead of rebuilding credit and improving your credit report.

Former Home Owner Still Responsible For Gift Home’s Mortgage

By | February 28th, 2009|

If you give your home as a gift to relatives without checking to see if the mortgage loan is assumable, as the former homeowner, you are still responsible for the mortgage. The situation is worse if mortgage is still in your name but the deed is in the name of your relatives. As the former home owner, you are responsible for all the mortgage payments, and need to either refinance the mortgage in your relatives' names, or transfer ownership back to yourself.

Credit Report Errors Hinder Mortgage Loan

By | February 28th, 2009|

Errors on your credit report can hinder your chances of getting a mortgage loan approved. Credit report errors take a long time to fix, but should be fixed immediately. But if you are married and getting the mortgage loan as a couple, you can get the mortgage in one partner's name while your credit report errors are fixed.

Landlord Selling Investment Property To Renters

By | February 28th, 2009|

If you are a landlord, there are issues you may have to deal with if you sell investment property to renters. As a landlord, you should keep the mortgage lenders involved in the process because the lender may want to call the loan. In fact, the mortgage lender most likely has the right to call the loan if you, as a landlord, sell investment property to your renters.

Late Credit Card Payments Means Bad Credit Report

By | February 28th, 2009|

Making a late credit card payment just once can ruin your credit. Credit card companies are afraid that you can't pay and your interest rates will jump, if you make even one late credit card payment. Just one late credit card payment can take up to a year to correct and have your credit score returned to where it was before the late payment.

Credit Report Collection Agency Claim – Pay Or Fight?

By | February 28th, 2009|

What are your options If you get a credit report and find that an old insurance agency sent your account to a collections agency for an old policy? Ilyce suggests checking to see if it's false debt by calling the collection agency and demanding to see a copy of the old bill and whether the credit report is wrong. Ilyce also suggests since the bill is small, it might be worth paying the collection agency to get the bill off your credit report and improve your credit score.

1031 Exchange Helps Rental Property Owner Buy In Another State

By | February 28th, 2009|

Should you as a rental property owner who lives in California keep the building you own on the East Coast or do a 1031 exchange and buy a building in California. Ilyce explains the pitfalls of not being in the same state as the rental property you own, and suggests the 1031 exchange. The 1031 exchange will help you buy rental property nearby where you can keep an eye on your tenants.

Home Loan And Deed In Couple’s Name, What Happens In Break-up?

By | February 27th, 2009|

If you are engaged and get a first time home buyer loan in both of your names, but call the wedding off, who is responsible for the mortgage? As long as the deed is in both of your names, you are both responsible for the mortgage. Eventually you will have to sell the property or refinance the mortgage in just one person's name.

Selling Property Avoiding, Paying Minimal Capital Gains

By | February 27th, 2009|

Can you sell a portion of your property, but avoid paying capital gains? Should you sell all the property then buy back the portion with your primary residence, to avoid or pay minimal capital gains? A good real estate attorney who can help you make the right decision about selling property and avoiding the capital gains tax.

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