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Articles By Ilyce

Ilyce Glink is an award-winning, nationally syndicated columnist, television reporter and radio talk show host who is widely known for her expertise on trends and issues in real estate and finance. Her syndicated column REAL ESTATE MATTERS offers common sense information and practical insights for anyone thinking about buying, selling, rehabbing or refinancing a home.

  • IRS Liens and Loan Prospects - My husband and I entered into a lease purchase agreement to buy a house. We want a mortgage but we have a lien from the IRS. Can we get a loan?

  • Qualifying for a Home Loan - Do I need two years worth of tax returns to qualify for a home loan?

  • Question on Reverse Mortgages - A reverse mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month.

  • Loan Prepayment Penalties - What is the best way to avoid a prepayment penalty in order to refinance my home loan?

  • Refinancing Home Loans - When should you refinance your loan? Is refinancing a home loan the right thing to do to save money by reducing mortgage payments or do the up-front costs outweigh the long-term benefits?

  • FHA Mortgages - The Federal Housing Administration (FHA) is a federal agency within the U.S Department of Housing and Urban Development (HUD). FHA's primary objective is to assist in providing housing opportunities for low to moderate income families. FHA has both single family (1-4 unit homes) and multi-family (5 or more units) mortgage lending programs. The agency does not generally provide the funds for the mortgages, but rather insures home mortgage loans made by private industry lenders such as mortgage bankers, savings & loans and banks.

  • Neighbor Easement Problems - Conflicts with neighbors regarding easements or driveways are common. Many properties have easements for public utility or power lines, phone lines, water pipes, sewers pipes, gas lines and often cable TV. Ilyce Glink answers a reader's question about easement problems with a neighbor.

  • Multiple IRA Accounts - Can you have multiple retirement accounts? Ilyce Glink answers that personal finance question from a reader, as well as whether the reader, who has a fear of investing, should put her 401(k) funds into a savings account, money market account, or the stock market.

  • Buying For-Sale-By-Owner (FSBO) Properties - For-sale-by-owner (FSBO) properties are an attractive option to anyone buying a home. No commissions! But what if you've signed an agreement with your buyer's agent? Does that stop you from talking directly to homeowners who want to sell homes without using a realtor?

  • Borrow from 401k - Ilyce advises a reader to pay down his credit card debt before starting to purchase a house. To qualify for a home mortgage, the reader may need to enhance his credit score.

  • Mortgage Loan Question - There are many other sorts of mortgage loans available other than a 30-year fixed rate mortgage, which is the most expensive because you’re paying for the stability of the payments over the life of the loan.

  • Buying Your First Home - PMI protects the lender from the increased risk associated with low-down payment loans. An 80/15/5, otherwise known as a “piggy-back loan,” is a first mortgage for 80 percent of the value of the home and a second loan for 15 percent of the value of the home. In essence, you only will have to put down five percent along with any closing costs for the purchase of the home.

  • Buy New Home or Existing Home - Is it a better deal to buy a newly-built home or an existing home? Unfortunately, there is no easy answer.

  • Choosing the Best Mortgage: Fixed Rate or Adjustable Rate? - I am a first time home buyer, and I am looking a home for about $435,000. I have about $50,000 in cash and $30,000 in a 401(k). Do you recommend going with a 30 year fixed or 5/1 ARM loan?

  • Taxes From Gift Of A Home - A new condo owner is confused about the taxes she owes on the sale of her mother's home. Ilyce explains the rollover replacement rule and gift taxes.

  • The Art of Storage: Making the Best Use of Space in Your House - Innovative storage ideas rarely make the pages of Architectural Digest. Fortunately, three new books tackle the problem by visually presenting several hundred pages of options. 

  • Paying Cash For New Home - A retired couple would like to pay cash for their new home. Ilyce is all for seniors reducing their daily living expenses. She suggests paying cash for the house and opening up a home equity line of credit.

  • Easements and Rights-of-Way - If the driveway was the only means of ingress and egress out of your father’s property, it’s likely that the building of the shared driveway could also be construed as an easement that was granted by the neighbor to your father and that the easement could not be terminated.

  • Condo Board Dispute With Developer - A reader is planning to sell their parents' home many years after their death. There was no will and the estate has never been through probate. Sam and Ilyce discuss the children's options.

  • Purchasing A Duplex With Friends - Two families want to work together to purchase a duplex. Ilyce discusses issues to be ironed out before any steps are taken.

  • Home Ownership In Question - The writer has inherited a house from his mother and is unsure if his siblings have partial ownership. Ilyce and Sam explain inheritance law and adverse possession.

  • Reserving Cash By Financing Closing Costs - A writer wonders if it is legitimate to roll closing costs into a mortgage. Ilyce gives tips on how to reserve some cash to avoid increasing the purchasing price of the home.

  • Baby Boomer Trends - With more than 70 million baby boomers heading into retirement over the next 30 years, the challenge for real estate developers is to figure out what kind of home they’ll choose.

  • Development Management To Pay For Fence - A home owner would like to replace their fence and believes the management of the development is to pay one half the cost. Ilyce and Sam suggest sending a letter to the property manager by certified mail (return receipt requested) along with a copy by regular mail. In the letter, make sure to outline the scope of the work and the expected cost.

  • Investing In Empty Lots - A buyer is interested in investing in empty lots. Ilyce suggests a visit to the local building department to determine the type of building that can be built and any potential zoning changes.

  • Paying for Vacation Home Repairs - A family's vacation home is in need of major repairs but the trust has no money to pay for them. Ilyce discusses the options for taking care of the family home.

  • Lenders Review All Of Your Debt - A homeowner wants to refinance but is having trouble finding a lender that approve of substantial medical bills. Ilyce suggests instead of refinancing the mortgage, the reader might try to get a home equity loan from a local bank and paying off the original loan.

  • Federal Stafford Loans - Direct and FFEL Stafford Loans are either subsidized or unsubsidized. You can receive a subsidized loan and an unsubsidized loan for the same enrollment period.

  • Applying for a Home Loan - I'm learning how to apply for a mortgage. When I am applying for a home loan, how should I calculate my monthly income?

  • Loan Consolidation Question - I was thinking of refinancing and consolidating the two loans into one loan. Should I do it?

  • Responsibility of Authorized User on Credit Card - An authorized user of a credit card is being held responsible for a deceased debt. Ilyce explains how the debt is the responsibility of the estate.

  • After Bankruptcy - Paying Off Car Loan - How is it best to pay off an auto loan after bankruptcy? Ilyce suggests how to avoid further problems and how to avoid involving your family.

  • Ethnic Homebuying Trends - Hispanics are the fastest-growing ethnic group in America, and according to a new survey from the Real Estate Center at Texas A&M University, they have had the least experience with real estate agents and homeownership.

  • Modular Rental Unit On Neighbors Lot - The writer's neighbor is adding a modular rental unit to their lot. Ilyce and Sam suggest talking to the county building and zoning departments about whether there are any land use restrictions in place for the community.

  • Pre-Paying Mortgage A Good Idea - Right now, home prices are booming in San Diego, as they are in much of California. But fifteen years ago, when Ilyce first started writing about real estate, southern California and the Northeast experienced a housing bust, and home prices sank like stones. A home owner is unsure whether they should be pre-paying on their mortgage. Ilyce feels that it is a good idea to pay toward the principal each month in order to increase your equity in the house.

  • Home Improvement Before Selling - A writer wonders how much work they should do on their house prior to putting it onto the market. Ilyce suggest that by doing basic things before selling, and making your home look as fresh and neutral as possible, you'll not only sell your home faster, but for a lot more money.

  • Dividing Property Into Multiple Lots - A home owner with five acres of land wants to divide and sell the land. Ilyce and Sam explain the lengthy process of subdividing your land.

  • Personal Finance Questions - June 4, 2004 - Being an authorized user isn't the same thing as being the owner of the card. When you are the card owner, you sign a contract that holds you personally liable for the debts that are racked up.

  • Home Loans and Starting a New Business - I want to start a new business. Do you think I can get a home loan?

  • Home Loan Qualification Question - If you're serious about buying a house anytime soon, it's important to know whether you will qualify for a home loan.

  • Bi-Weekly Mortgage Question - Normally, you make twelve mortgage payments a year. Since there are fifty-two weeks in a year, a bi-weekly mortgage equals 26 half-payments a year. The equivalent would be making thirteen mortgage payments a year instead of twelve. By applying that extra payment directly to the loan balance as a principal reduction, your loan amortizes more quickly, requiring fewer payments. 











































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