Why does the gathering of tax records seem to be such a difficult and onerous task? One year, we had a client who simply could not get us the amount of her mortgage interest payment until the afternoon of October 15 —by which time our office was closed for tax season. The good news is [...]
If you don't want to refinance your mortgage for free, you may have to accept a higher interest rate. Q: I listen to your radio show frequently and wondered if you can offer advice on refinancing my home. My current lender does not offer any refinancing options for me. I have a credit score in [...]
NEW CFPB mortgage regulations introduced to protect home owners and the housing market from future mortgage loan disasters. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show on January 13, 2013 at 11:00am Eastern Time on WSB Radio. There's so much going on. It was, for [...]
The homeowner's association has rules and fees, and can foreclose on your home and put a lien on the property if you don't pay. Q: We have not paid our homeowner fees since early 2007 and I have received a Notice of Intent to Foreclose Lien from a local law firm. It states that if [...]
Refinancing your home at a lower rate makes sense if you can keep your refinancing costs to a minimum. Q: We have a mortgage loan on a second home (it’s a vacation home) with our credit union. The APR is at 4.039 percent and the loan is just a little over a year old. We [...]
Foreclosure is scary. Before the bubble burst and the housing crisis hit, it was taboo to go through foreclosure. Now it’s almost common. And, unfortunately, despite the rosier outlook for the real estate market, too many homeowners are still facing foreclosure. The most important thing for any homeowner in this situation to know is that [...]
2012 is coming to a close, thank goodness. It’s been a turbulent year. Perhaps, like me, you’ve gotten so absorbed in everyday trivia that you’ve lost track of time. Well, it’s time to look up and do some last-minute things to clear our heads, homes, and tax issues. 1) Do winter house-clearing. Empty out closets [...]
Have you moved and decided to rent out your old house rather than sell it at today’s depressed prices? Are you renting out your vacation property? Did you buy a foreclosure or short sale with a residential mortgage and—after you fixed it up—begin renting it out while waiting until you can sell it and make [...]
You'll often hear people ask whether they should prepay their mortgages, and for many it makes sense to prepay. Q: I hear and see so many financial advisors and experts recommending that people pay off their mortgages by making an extra mortgage payment each year. The reality is that it would be easier for the [...]
When you pay off your mortgage loan in full, your lender is required to return any tax and insurance mortgage escrow money back to you. Q: I hope you can help me with this question. I have been searching the Internet and reading as much as I can on The Dodd-Frank Act and cannot find [...]
