What’s the best way to help a family member with a private mortgage? Depending on how your structure the interest rates, you may face issue with the IRS. Q: I set up a private 15-year mortgage with my niece several years ago at 3.5 percent interest. The paperwork is all properly filed. She is down [...]
I think I’m the victim of a scam. Now what? If you’re getting bills from unheard of companies, pull your credit report immediately. Q: I’m wondering if I’m being scammed. I received what looks like a bill from a company in Pennsylvania claiming that I have a current balance due of $704.02 as of February [...]
When no one in the family wants to pay property taxes, what can you do? Even if the family has created a S-Corporation, you’ll still need some savvy tricks to save the property. Q: I am from the Island of Maui in the state of Hawaii. I am the President of my families S-corp and [...]
What you need to know about prepaying a mortgage. Based on the type of mortgage you have, your loan terms may change. Q: I saw your video on your YouTube Channel on how making an extra payment on your mortgage pays your loan down faster. When you make an extra payment do you apply all [...]
Home titles and property taxes: What you need to know to make sure you don’t end up with a defective deed. Q: We purchased a house and have been going through a lawyer to get our deed from the previous owner. In the meantime, we’ve been living in the house for well over a [...]
Can you sell a tax sale property back to the city? Probably not. But here are a few tips to make the most of your investment. Q: My son bid on a property at a tax sale in Philadelphia back in 2010. He found out after he bought it that the property had no value [...]
ThinkGlink.com publisher Ilyce Glink was recently interviewed by MoneyLife Radio host Chuck Jaffe about her latest book, 100 Questions Every First-Time Home Buyer Should Ask, fourth edition. Chuck, who for decades was a columnist and blogger for MarketWatch, said that the book is what he's going to give his own children when the time comes [...]
Do appliances increase the cost basis of your home? The short answer: it depends on your situation. Q: How can you say, as you did in a recent newspaper article, that putting in a new washer and dryer is an expense that would increase your basis in a condo? Aren't appliances simply replacements rather than [...]
Have you received a notification about unclaimed property? How to find an assignment of mortgage if you need to prove that unclaimed property from the mortgage company belong to you. Q: How do I find an assignment of mortgage to prove that the monies in the division of unclaimed property for my state belongs [...]
Tax reform has caused a lot of confusion in 2018 for taxpayers, tax-preparers, and homeowners looking to deduct home loan interest. The recent Tax Reform Act has caused consternation for taxpayers, tax-preparers and even syndicated columnists. In a recent column, we addressed the issue of the deductibility of interest in an equity line of credit [...]
