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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.

  • Owing Back Taxes After Foreclosure - After a home is foreclosed on, do you still owe the back taxes? Ilyce explains how a deficiency judgment works and helps the reader find out the financial outcome of the foreclosure.

  • What’s New From the Housewares Show, Part II - Are you looking for a shocking pink toaster? Ilyce visited the very fun 2006 Housewares Show and found just that. This is her second piece on the cool things she saw, and you can buy, at the show.

  • Real Estate Agent Wants Personal Financial Information - A reader is in the process of interviewing potential real estate agents to help sell their home. An agent wanted to know what the mortgage payoff amount was for their home. Ilyce explains that with the downturn of the market, agents are getting burned when it comes to collecting their fees. She suggests reassuring the agent without giving any specific financial information.

  • How To Pay Off A Mortgage - It is the day we all look forward to - finally making that last payment on the mortgage. Ilyce and Sam help a reader avoid attorney's fees by explaining how to get a release of the lien on the mortgage.

  • Suing Company Will Not Be Easy - A reader worked with a debt management company in another state that did not provide the services they promised. Now the reader is trying to get a refund for those services. Ilyce and Sam explain that the reader has done all the right things by filing complaints with various agencies, but that the difficult task of suing the company may be their only resort.

  • Hire Home Inspector For Newly Built Home - A reader is about to close on their newly built home. A few things are bothering her including squeaky floors and a bathroom that is different from the model. Ilyce explains that hiring a building inspector is key to clearing up this issue.

  • Risk Of Buying A Home With Friend - A reader has dismissed their original agent only to have their new agent work with one of the original buyers. Now who gets the sales commission? Ilyce and Sam explain that the listing agreement or termination agreement will hold the key to this confusing situation.

  • Listing Agreement Is The Key To Agent's Commission - A reader has dismissed their original agent only to have their new agent work with one of the original buyers. Now who gets the sales commission? Ilyce and Sam explain that the listing agreement or termination agreement will hold the key to this confusing situation.

  • Tough Choices For Home Owner In Debt - A reader finds themselves in debt and with a house that needs major repair. Ilyce give the reader some options and warns them that a short sale will end in a large tax bill.

  • An Inventor’s Paradise: Solving Problems With New Releases From the 2006 Housewares Show - Finding a product that can make someone’s life easier is the genesis for many of the inventors at the 2006 Housewares Show, held recently in Chicago. Often, the product came from something the inventor did to solve his or her own problems. Check out some of the cool things Ilyce came across at the convention.

  • 1099 For Short Sale On Home - A reader did a short sale on their home, meaning the property was worth less than the outstanding mortgage amount. The lender accepted the smaller amount but sent them a 1099 for the difference. Ilyce explains that people who do a short sale because of financial difficulties, often end up with a new tax bill to add to their other debt.

  • E-Filing with the IRS - A reader is e-filing with the IRS and is wondering what to do with the refund. They have been offered a stored value card but Ilyce strongly suggests having the refund deposited directly into her account.

  • Research Septic Problem Before Suing - A reader purchased a new home with a five year old septic system. Now that they are experiencing problems, the home owners discovered that many other similar systems also are defective. Sam and Ilyce suggest to research the product, installation and talk with other owners before pointing any fingers.

  • Destruction of Home Prior to Sale - After a home buyer's deal is in escrow for six months, the home to be purchased burns down. Now the buyer is wondering whether to continue with the deal or look for an option out. Ilyce and Sam explain the contract should have language regarding the destruction of the home.

  • Utilizing Father's Tax Credit - So, you have a huge tax bill and your father has a large tax credit. Can you make a deal and avoid the scrutiny of the IRS? Ilyce helps a reader think through the legal and ethical implications of this deal.

  • Giving Landlords an Edge: Quicken Rental Property Manager 2.0 Software Review - Quicken Rental Property Manager has an easy-to-use interface that is reminiscent of Quicken, the money management software created by Intuit. The software allows you to enter information about each tenant and his or her lease, how much the rent is, and if you have charged late fees or interest. When you receive rent checks, the software tracks who paid what and when.

  • Zoning Changes Made Without Owner's Knowledge - A reader is preparing to sell her home and side lot. A potential buyer has discovered that the zoning has changed and that the side lot would now need a variance to be built on. Ilyce explains that this is a prefect example of why you should stay involved in community affairs.

  • New Tax Ruling Allows For Exception To Capital Gains - A reader recently had to sell their home due to medical reasons. Ilyce explains a new IRS ruling relating to how much gain you can exclude in certain circumstances, including death of a spouse, accepting a new job in another location, divorce and medical issues.

  • Structuring Real Estate Investment Properties - A reader has created an LLC to invest in real estate. They are still having trouble financing due to an increase debt to income ratio. Sam and Ilyce give advice on how to invest in real estate and retain a strong personal financial base.

  • Including Preapproval Letter With Contract - Often you can be preapproved for a mortgage at an amount higher than you are willing to pay. It is good to be clear with your agent, exactly the amount you are hoping to spend, regardless of what your preapproval letter states. Trusting your agent is key to a successful deal.

  • Creating A Lease/Purchase Option On Investment Property - Leasing out a rental property is often a good idea. The only different thing is that typically with a lease/option, you would negotiate the purchase price at the beginning of the lease/option period.

  • Bringing the Future to the Present When Buying Your First Home - Bringing the “future to the present” is a phrase my friend Michael Alter, president of SurePayroll, likes to use when working on closing a sale in business. Bringing the future to the present allows home buyers to eliminate potential obstacles to a deal and get it done. It allows pre-buyers, those who are still in the dreaming stage, to organize their thinking and figure out what kinds of steps they need to take to achieve their goal of homeownership.

  • Limiting Taxes On Great Real Estate Investment -  Turning a $105,000 dollar investment into a $428,000 property is everyone's dream. Ilyce helps one lucky reader to understand the tax consequences of this smart investment.

  • Understanding State Tax On Capital Gains - A reader is moving from California to Idaho and would like to limit his state tax liability on capital gains. Ilyce explains that the "rollover replacement" rule was thrown out and replaced by newer tax laws that will benefit this home seller.
















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