Inheritance Taxes Paid Before Money Distribution
When you inherit money and get the actual money, the estate has already paid the inheritance taxes so you don't have to worry about that. It is a good idea to think of what you'll do with inheritance money or a real estate property inheritance ahead of time. What to do with the money has to do in part with how old you'll be when you get it.
Buying Property With Partner
A homeowner purchased a duplex with a partner and is now trying to figure out an equitable way to split expenses after the partner's fiance moved in. A partnership agreement should spell out the financial arrangement between the two homeowners. The partners should also change the ownership of the property to reflect the partnership agreement.
Housing Costs Go Up, Putting Credit At Risk
More homeowners are putting a higher percentage of their annual income toward their housing costs. The danger of higher housing costs, is that families who don't have enough cash to pay their bills at the end of the month will start playing games with the money in order to make ends meet. Don't risk your credit rating by making uninformed decisions.
Mortgage Lender Fraud
What is the best way to deal with your mortgage lender if you believe they have committed fraud against you? Mortgage lenders suspected of fraud should be reported to your state's attorney general's office and to your state's agency that commissions mortgage lenders. If you want to take the issue to a more public arena, report the fraudulent mortgage lender to the Better Business Bureau.
Helping Parents Plan Retirement Housing
A daughter has suggested her near-retirement parents gift her the money from selling their home so she can buy them a new one and live in rent free. It would be much less complicated if the parents bought themselves a new home or saved the money for their retirement. Or, if the daughter can afford it, buy the parents a home for their retirement and have them pay rent to the daughter.
Buyer Cancels Deal Due To Flight Pattern
A home seller had a deal fall through because the buyer said they were in a flight pattern. After proving that flights are to the south of his home, the seller is wondering if he is entitled to the earnest money.