Monthly Archives: September 2007
Timeshares
We had a call this morning on the show about selling a timeshare. You should know a couple of things about timeshares:
* Some people like ‘em, some p…
Today on the Ilyce Glink Show — September 23, 2007
Well, we’re officially into Fall — and in many parts of the country, the summer weather continues unabated …. unless you live in Los Angeles which …
Homeowners Insurance: Make Changes After The Mortgage Is Paid Off
When you refinance or pay off your mortgage, you’ll need to notify your insurance company. The insurance company should know that the title is now in the owner’s name. This will make it easier to file a claim with the insurance company should you incur a loss.
Ilyce Glink on WSB Radio – September 23, 2007
Today on the Ilyce Glink Show, Ilyce talked about the ten questions you should ask your spouse or partner before you retire. Surprisingly, it isn’t just about how much you’ve saved but how each of you are planning for retirement and what you hope to do after you leave your full-time jobs (if indeed you leave). She also discussed, and took calls about, a Washington Post report that says the TSA is collecting even more data on our travel, including cruises we take abroad. Finally, she discussed Friday’s recall of a million baby cribs by Graco and Simplicity, the largest full-size crib recall in history.
Tax Deduction On Sale Of Primary Residence
A homeowner is going to rent her house, but plans to sell it within the next two years. She should not have to pay any capital gains taxes, because when a person sells his or her home, and the person has used the property as their primary residence for at least 2 out of the last 5 years, he or she doesn’t have to pay any tax to the federal government on the first $250,000 of profit (up to $500,000 if the owners are married).
Sellers’ Market Will Improve
The real estate market is operating in favor of buyers, so sellers have to be patient until the market improves. If you’re a seller with property you’re anxious to sell, waiting for the market to swing back will certainly pay off. But the caveat is that the market may come back stronger in some places than others.
Foreclosure Help from the Fed
If you’re facing foreclosure, learn as much as you can about your options first.
Some of the same people who helped you to buy your home may be able …
How To Terminate Contract On New Construction Condo
A home buyer signed a contract to buy a new construction condominium two years ago and after several delays with the builder, he would like to get out of the deal. A real estate attorney can help walk you through new construction deals and prevent large losses later in a transaction. Under federal law, this buyer might have a right to terminate the contract if he didn’t receive certain disclosures for the new construction condo.
Seller Financing Includes Deed Of Trust
A homeowner bought a seller financed home and the seller holds a deed of trust. She would like to transfer the seller financed home to her children, but the seller does not want to transfer the property to them. Ilyce surmises that the seller may be concerned about losing his interest on this investment property and discusses alternative ways of obtaining this property that started with seller financing.
House Passes FHA Revitalization Bill
As the Federal Reserve’s Open Markets committee was meeting, the House of Representatives was busy working in Washington, DC.
The House of Representa…
