Have real estate questions? Here, you’ll find helpful articles and other resources that cover issues related to real estate, buying, selling, financing, refinancing, credit and debt, insurance, second homes, vacation homes, real estate investment, new construction, and renovation.
Refinance And Quit Claim Deed Before Divorce
When you separate or divorce you may decide to refinance your primary residence. If you refinance and execute a quit claim deed at the same time, it means that regardless of whose names are on the mortgage loan note, the only owner of the property is the one who did not sign the quit claim deed. When a court looks at the assets involved in a divorce, the quit claim deed will affect the future of the home.
Selling Home To Family Member
A homeowner would like to sell her home to her son at an affordable price. The son will have to be approved by a lender for the home purchase. If he cannot afford the appreciated price, the owner may be able to sell him the home at a lower price and gift the rest to the son.
Ilyce Glink on WSB Radio – August 6, 2006
Ilyce talks about hurricanes and home owners insurance, big scams, the tax-free holiday and the new Pension Act Bill, which will have an effect on your 401k. As always, she takes call from listeners and offers real estate advice and personal finance advice on a variety of topics.
Quit Claim Deed But Name On Mortgage Means Ruined Credit
What happens if you quit claimed the deed for your home to an ex, but did not refinance the loan? Even though you quit claimed the home to your ex, your name is still on the mortgage. If they are late on payments your credit rating will be ruined. Ilyce explains how your credit rating will remain bad until the mortgage is put in the name of your ex.
Real Estate Agents Want Repeat Customers
When you find a real estate agent you like you may decide to work with him or her several times. When a real estate agent works with you repeatedly he or she gets to know your real estate likes and dislikes. But watch out for unethical behavior from real estate agents who want repeat customers.
Real Estate Minute: Sell Your House With Extra Incentives
Real Estate Minute with Ilyce Glink Want to sell? Give away a car Original Air Date: August 3, 2006
Risks With Seller Financing
Typically, when you sell your home, and you have a loan, the loan is due on the completion of the sale. The due-on-sale clause on the loan gives the bank the right to call the loan and require you to pay it in full. The bank may not exercise its right to call the loan, but that is a risk you would take if you sold the home on an installment contract basis.
Be Cautious When Using Quit Claim Deed
A quitclaim deed transfers any interest you may have in a property to someone else. However, using a quit claim deed does not relieve that person from the responsibility of the mortgage. A quit claim deed will relinquish any leverage that owner has to ensure that mortgage payments are made on time.