What happens to my property taxes when I pay off my mortgage? I am finally done paying off my mortgage, but I’m wondering if my property taxes will change. Will my real estate taxes change or will my property be reassessed after making my last mortgage payment? Q: I’m just about to pay off my [...]
When it comes to buying a home, Millennials are taking about 5 years longer to become homeowners. Here, I take a look at some factors that may be causing this shift in the average first-time homebuyer age. I live for a happy ending. Whether it’s in the movies, a fairy-tale wedding (hello, Harry and Meghan!), [...]
It doesn’t often happen that the lender declines to do a mortgage modification six times, and then out of the blue cancels the loan balance and releases the lien. In this case, the lender did just that, but the homeowner is still worried she might lose her mortgage. Q: I’ve been working with my bank [...]
My husband is going to take out a mortgage with my mother-in- law, put the house into a trust, name themselves as the trustees, and my husband and his siblings as the beneficiaries. Is taking out a mortgage with my mother-in- law a good idea? Q: My husband and I made on offer to my [...]
Will adding a child to the title of a property increase property taxes? A father wants to add his child to the title to his home, but his child is worried that this will increase property taxes. She might be worried about the wrong thing. Q: I was wondering if you might be able to [...]
A personal residence became a rental property and was put into an LLC. How do you calculate the cost basis and taxes owed now and in the future on the property? Q: I read your Real Estate Matters article every Sunday in the Columbus Dispatch, and they have been very helpful in understanding many of [...]
Mortgage rates are on the rise and hurting buyers. Here's what you need to know if you plan to buy a home this year. The worst of all possible confluences for home buyers got a bit worse this week: Mortgage interest rates jumped up again, to the highest level in five years. At the same [...]
Mobile homes and property titles: What you need to know to ensure your mobile home is properly insured and recorded in your name. Q: In September 2017, you wrote an article about how "title insurers don't deal with mobile-home issues" in our local Ohio paper. This is exactly our situation. We have contacted the motor [...]
What happens to a quit claim deed when a spouse dies? It all depends on the type of deed transfer and their estate plans. Q: What happens if you and your wife own a home through a quit claim deed and the spouse dies? We live in the State of Maine. A: A quit claim [...]
Is a home seller on the line for fulfilling inspector recommendations? They just might be if they really want the sale to go through. Q: My agent is insisting that I hire a licensed, bonded contractor to pump water from my crawl space. The inspector "recommends" this. I didn't have a license bonded contractor do [...]
