Owning a home can be a very rewarding experience, but it can also come with headaches involving taxes, permits, upkeep and repair, fees, insurance and more. Look for more information here in our articles, blog posts, videos and radio shows about what it means to be a homeowner.
House Owned By LLC
If a house is owned by an LLC (limited liability company), the owner is that company. In owning a house, an LLC would be no different than a corporation owning the home. Just like a person, an LLC or a corporation can hold title to a house and other sorts of real estate.
Home Buyer Ineligible For First Time Homeowner Benefits Because Of Quit Claim
A first-time home buyer already has a home that was quit claimed to them by a parent, making him ineligible for first time homeowner benefits. Ilyce talks about programs available to first-time home buyers and why this home buyer is ineligible for them because of the quit claim. Ilyce recommends the home buyer find a good real estate and real estate attorney to help him make decisions since he is not eligible for first time homeowner benefits.
Thankful for a Warmer Winter
I know that global warming is a concern, and that the wacky weather patterns we've seen over the past few years portend increasing wackiness in the ye...
Calculating profit from sale of home with home equity loan
How do you calculate the profit from the sale of a home, if the owner has a home equity loan? The amount of a home equity loan does not change homeowner's profit on the sale, but it does affect how much actual money the homeowner would receive from the sale. The way to figure out the profit on the sale of the home is to take the sales price and subtract the costs of sale (commission, transfer taxes, title etc) and the costs of purchase. A portion of the homeowner's profit may also be tax-free depending on the number of years the owner has owned and lived in the home.
Revocable Trust And Title Insurance
When you put a property in a revocable trust, you also need to be sure the title insurance policy coverage is changed. Title insurance assures the lender that you own the home free and clear, with no liens on it. When a home buyer sells the property, the subsequent buyer should buy his or her own title insurance.
12 Things You Can Do To Pay Less For Your Homeowner’s Insurance Policy
If you have more than one claim in 7 years, or if you live in a flood or disaster-prone area, your insurance premiums may have increased dramatically over the past five years. Here are some tips for lowering your insurance costs including shopping around, raising your deductible, getting a security system and even going to school.
Reverse Mortgage Can Provide Retirement Money
A reverse mortgage can allow you to tap the equity in your home without having to sell it or take on another loan. Reverse mortgages or HECMs are commonly used by older Americans in retirement. A reverse mortgage can supplement other retirement income from investments and Social Security.
Ilyce Glink on WSB Radio – September 25, 2005
Ilyce kicks off the show with a discussion of renting a home versus buying a home, along with the other side of the coin being selling a home now versus later. Ilyce then takes calls on a variety of personal finance and real estate topic, everything from refinancing a 15 year mortgage as rates go up to figuring out the additional expenses of owning a home versus renting.
Check For Adequate Homeowners Insurance Coverage
You want to have adequate homeowners insurance coverage, so that in case of your home being destroyed, you will be covered for the full replacement of your home. In times of natural disasters the cost of insurance and home repairs can skyrocket. If your current insurance company won't sell you adequate coverage, look around for a different insurance company.