Are you refinancing with a lien on your property? If you also have title insurance issues, you need to resolve them before you can refinance. Q: Our home has a lien on it from the Georgia Department of Revenue. The Department of Revenue gave us the go ahead to refinance our loan or get a [...]
Now is the best time to refinance and lower your mortgage interest rates. Make sure your lender is giving you the best interest rates out there. Q: My current lender contacted me with an offer to lower the interest rate on my mortgage. I'm hesitant because the deal just looked too good to be true. [...]
The average length of time for a refinance can vary if they don't have the right documents needed for a mortgage refinance. Q: My husband and I started a refinance late last year with an Internet lender and we are still going through the process. Now, our mortgage broker wants a letter about my husband's [...]
When transferring home ownership, be aware of the tax implications that could cost you a lot of money. Q: My brother wants to transfer ownership of his home into my name and I need to know what the tax implications are for him and me if we do this. He received a settlement from his [...]
Trying to decide if you should buy a new house and rent out your old house? A good idea is to decide whether it will be a short or long term investment. Q: My wife and I have saved about $225,000 and want to buy a bigger home with the cash. We owe about $120,000 [...]
I purchased my first home a year ago, but since then interest rates have dropped and my credit has improved. Can I refinance already? Yes, in theory you can, but you have to figure out if you should. It depends largely on whether you have a prepayment penalty built into your mortgage contract, what you [...]
S&P faces civil lawsuit for selling bad mortgage loan bonds, a result of risky loans from mortgage lenders. This was a huge impetus for the housing market crisis. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show on February 10, 2013 at 11:00am Eastern Time on [...]
When thinking about how to protect your property from a lawsuit, you might want to consider setting up a trust. Q: I bought my house 20 years ago and today it is worth $300,000. I owe about $150,000 and have about 10 years left on a 15-year mortgage. The interest rate is 5.125 percent, and [...]
A 1031 exchange is an investment property exchange process that can assist in deferring taxes. We answer a question here. Q: I currently own two rental properties. The first house is paid off. The second property still has 14 years on the mortgage. I am considering selling the first house because it's not earning all [...]
Are you selling a house without a Realtor? Seller financing and selling a home without an agent has its cost and benefits. Q: I appreciated your article on the advantages and disadvantages of holding title to a home in a limited liability company (LLC). I have a house in Maryland that is valued at around $350,000 [...]
