Monthly Archives: January 2006
Mortgage Fraud
One of the black spots in the decade long housing boom has been the rise in mortgage fraud.
There are all kinds of mortgage fraud out there:
* Bad a…
Using Power Of Attorney For Quit Claim Deed
This person wants to use their Power of Attorney to execute a quit claim deed and gain ownership of their mother’s home to avoid the home being used to pay for nursing care. The government can trace transactions such as a quit claim and this one could be seen as fraud. A real estate attorney can help figure out if there is a way to structure the transaction to help the mother pay for her nursing care.
Rental Property, Equity And Taxes
When you own property with a parent or manage a rental property for a parent and then want to get money out of that investment property, it can result in tax consequences. When you want to get some equity out of a rental property you need to think carefully about how to proceed. If the parent quit claims the property to the child, the child inherits the cost basis of the property when it was purchased, which may be high.
Managing Credit Scores With A Debt Management Payment
There is a lot of confusion in the world of credit counseling, which is why so many consumers have unpleasant experiences. The issue is less whether you are enrolled in the debt management program, but more whether you pay off all of your debts in full. If you negotiate a partial payment with all of your creditors, your credit score may take a hit.
Divorce Could Lead To Eviction From Rental Property
After a divorce is completed, can a spouse be evicted from his home? It depends on where the spouse lives and who owns the property. If the home used to be the primary residence of the married couple and the spouse who lives in the home did not win the home in the divorce settlement he can be evicted. If it’s a regular rental property, eviction depends on the terms of the lease. And if there’s no lease, it’s likely the spouse is living there on a month-to-month basis, which means the landlord must give only 30 days notice for eviction.
Benefits of Lease to Sell
A building owner is thinking about building a commercial office and selling it with a lease to sell agreement. Rather than leasing it, holding onto the building could bring tax benefits for owning commercial property. Using a “lease with the option to buy” could also be an incentive to get additional buyers to consider purchasing it.
Think First, Quit Claim Later
There’s research in the newspaper world that shows that consumers look at advertorial sections (which are essentially compiled of press releases from …
Ilyce Glink on WSB Radio – January 29, 2006
Ilyce starts the show by talking about “good faith estimates” and continues a discussion on mortgage fraud. Ilyce then takes calls on topics from “cleaning up” a credit report to establishing credit.
Register Your Cell Phone with the Do Not Call List
Liz Handlin, who writes about job hunting matters for ThinkGlink.com, just sent me an email reminding me that all cell phone numbers are being release…
Outside Your Not So Big House
I’ve been flipping through Not So Big House creator Sarah Susanka’s newest book, written with landscape and garden designer Julie Moir Messervy.
Outs…
