Monthly Archives: August 2007
Ilyce Glink on WSB Radio – August 26, 2007
It’s an action packed show today. Ilyce offers personal finance advice and real estate while discussing the latest hot topics with her listeners.
Helping Parents With Financial Difficulties
A son bought a home for his financially-troubled father 10 years ago because the father wouldn’t qualify for a mortgage. His father now wants him to quit claim the property to him but the son wants to sell to get out of the mortgage mess. The son has limited options for getting his name off the mortgage and still taking care of his father.
6 Mistakes Home Buyers Make When Shopping Online
More than 85 percent of home buyers start their search for a house online as well. But home buyers need to remember that things on the Internet are not always as they seem. Here are six mistakes home buyers make when shopping around for homes online.
Using A Quitclaim Deed When Divorcing
A divorced man has been asked by his ex-wife to sign a quit claim deed to the home they own together. But their divorce decree says the wife must sell or refinance the home within five years of the divorce. Signing a quit claim deed will give up any rights to the property, so he should wait until the home is refinanced to sign the quit claim deed.
Looking For A Good Read?
Check out New York Newsday’s series on the American Home Mortgage collapse:
www.newsday.com/business/ny-bzahm0801-gallery,0,2624892.storygallery?coll=…
Signs Of A Turnaround?
Indymac Bank announced this afternoon that it is returning to the jumbo loan market. In other words, if you’re in the market for a mortgage in excess …
Another Lender Bites the Dust
Lehman Brothers announced today that it was shutting down BNC Mortgage, the subprime mortgage company that it bought in 2004. A note on the BNC Mortga…
A Great Italian Restaurant in San Francisco
Ilyce, we are traveling to San Francisco for a wedding in October. Could you tell me the name of the great Italian restaurant you ate at when you were…
Down Payment Amount Varies With Good Faith Estimate
What’s an appropriate amount of earnest money or down payment? When you’re buying a home you’ll likely pay some earnest money to show your good faith – that you’re really interested in the home. But how much money to put down as earnest money, which can later become your down payment, varies depending on the area where the home is located and the real estate market.
Refinance ARM Mortgage Just Before Interest Rate Adjusts
When you have an adjustable rate mortgage (ARM) loan, the loan starts out with a fixed rate and later adjusts to a variable rate. To avoid a rise in interest rates, you may want to time the refinancing of your ARM mortgage so that it occurs as your fixed rate period ends. Watch interest rates to figure out whether it’s worth it to refinance your ARM mortgage and when’s the right time to refinance.
