Daily Archives: October 3, 2008
Consumer Bankruptcies Rise Nearly 30 Percent
The number of consumer bankruptcies filed in September rose 28.6 percent compared with a a year ago, according to the American Bankruptcy Institute. M…
Use IRA Money To Pay Off Mortgage?
A homeowner is considering withdrawing IRA (individual retirement account) money to pay off his mortgage early. There might be tax consequences to withdrawing IRA money. Here are the pros and cons of paying off the mortgage with money from an IRA.
Son Won’t Give Up Property Rights
Parents should exercise caution when quit claiming property over to their children and take time to consider potential worst-case scenarios. This mother wants to sell her home but has added her son and daughter to the deed, and the son refuses to quit claim the home back to his mother. But in some families, quit claim deeds are never delivered to the kids and in many cases never recorded.
Quit Claim Deed And Medicaid Lookback Rule
If an elderly relative owns a home and quit claims it to you before going into a nursing home the home may be at risk for the Medicaid lookback rule. The Medicaid lookback rule may allow the government to try to recover medical costs by selling an asset such as a home. How does Medicaid treat quit claim deeds? Discover what documentation to gather to protect the home.
Personal Finance Tips For Financial Crisis
Many consumers struggle to stay confident during this financial crisis. What can you do to strengthen your personal finances? Ilyce offers personal finance actions and tips that you can follow to give yourself some security and peace of mind during the financial crisis.
Housing Market Affects Steps To Sell Home
A home seller worries about her real estate agent changing her approach to selling a home. The real estate agent first said the home “shows well” and is now asking her to declutter her house. The housing market likely changes the approach the real estate agent takes. A good agent may change tactics, such as including staging, as housing market conditions shift.
Home Buyer Protection In Short Sale
Is a home buyer protected if the home he bought in a short sale sustains fire damage prior to the closing? Ilyce helps a reader sort out what kind of protection the home buyer has in a short sale – when the home owner’s insurer has the home owner make the repairs himself. The home buyer’s best course of action is to contact a real estate attorney to find out what protection he has since he bought the home in a short sale.
