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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.

  • Selling Timeshares - An estate includes various timeshares. Ilyce gives the seller resources for listing her timeshare.

  • Personal Finance Questions - May 28, 2004 - I am the Administrator of my late mother's Estate. Included in her assets were four weeks of timeshares at three different vacation resorts.

  • Gift House Should Be Part Of Estate - A son is given a house and wants to make sure that when his father dies, there is no problem with the estate. Ilyce suggests taking over some financial responsibility for the house and checking with a real estate attorney.

  • Estimating the Cost of Owning and Maintaining a Home - Maintaining your house can be costly if you buy a home with years of deferred maintenance. The problem is, most first-time home buyers don’t even think about how expensive a house will be to maintain before they purchase it. Lack of planning can mean an expensive bill just when you’re getting used to making your first mortgage payment.

  • Ex-Wife's Mortgage Gets In Way Of Refinance - A divorce decree does not determine who is liable for a mortgage payment. The lender holds the borrower responsible for the duration of the mortgage.

  • Refund for Misclassification of Home - A single family home is mistakenly classified as a three-family building. The owner wants a refund of the previous year's taxes. Ilyce and Sam explain how individual counties have various refund policies.

  • Adding Minor to House Title - A family would like to add their minor daughter to the house title. Ilyce and Sam explain that the daughter can own a piece of the home, but as long as she is a minor, she cannot own it directly.

  • Down Size To Avoid Capital Gains Tax - A home owner wonders if they should down size to a smaller home to avoid capital gains tax. Ilyce suggests they also consider which of their options has a bigger profit potential.

  • To Disclose Or Not Disclose - A condo owner wonders if structural problems need to be disclosed to a buyer. Ilyce and Sam explain that one key element in determining whether to disclose a problem is if the issue has been corrected. If it has been taken care of, usually no disclosure is needed. However, if the problem is a recurring problem even after many attempts to correct the problem, then disclosure may be required.

  • Save Cash or Pay Off Debt? - Student loans and credit card debt are haunting a couple. Should they put their cash in savings or pay off their debt?

  • Student Leaving Behind Credit Card Debt - A foreign student considers leaving the country without paying their credit card debt. Ilyce and Sam explain why the student must pay off his debts.

  • Personal Finance Questions - May 21, 2004 - My husband and I have about $5,000 in student loans on which we’re paying 4 percent interest. We also have about $2,600 dollars in credit card debt which is at a 0 percent introductory APR for one year. I try to save $100 dollars a month to have an emergency cushion, should we ever need it.

  • Fannie Mae and HUD - In 1992, Congress granted HUD the authority to set housing goals for Fannie Mae and Freddie Mac, the federally-chartered, publicly traded companies that buy the vast majority of home loans from mortgage brokers, banks, and credit unions. Fannie and Freddie, as they’re commonly known, turn around and package these loans into securities that are sold to investors in the U.S. and abroad.

  • When To Fire Your Real Estate Broker - The writer wonders if their agent has lost interest in selling the home. Ilyce explains how to evaluate a broker and, if needed, how to hire a new one.

  • Finding A Personal Lender - A new home buyer is looking for a lender they can trust and meet with in person. Ilyce explains how the lending business works and how to best find a banker you can work with.

  • Giving Home to Relatives - Our writer gives a home (and deed) to relatives without transferring the mortgage. Ilyce suggests the person work with relatives to refinance the loan.

  • Tax Advantages of Mortgages - A lot of people think that they'll do better by getting a bigger mortgage because they can write off the interest they pay on their federal income taxes. But that kind of thinking only works if (1) you actually itemize on your federal income tax form (more than half of all homeowners do not itemize) and (2) you have a better place to put your cash than in your property.

  • Stored Value Cards - A stored value card, also known as a prepaid debit card, looks like a regular credit card. But instead of acting like a credit card, a stored value card acts like a debit card attached to a checking account – except there is no checking account.

  • Home Office Deduction - I had a home office for 6 months of 2003. I want to know if I convert the office back to residential purposes, how it will affect the capital gains when and if I sell the home.

  • Buying Home For Sale By Owner - New home buyers wonder where they should begin with a for sale by owner home. Ilyce suggests they get a real estate attorney rather than an agent.

  • The Tax Advantage Of A Mortgage -  A home buyer needs help deciding whether to pay cash or take the tax break of mortgage interest.

  • Retiring with No Savings - What happens if you are ready to retire and you have no savings? According to Ilyce Glink, it means you may have to work longer than you hoped to and push off retirement a bit. Stash away as much cash as possible and try to rebuild your savings.

  • Working Toward Retirement - A couple is in debt and close to retirement. Ilyce tells them to stash away as much cash as possible, to rebuild your lost savings, pay off your debt, and get yourselves into a position where you can retire.

  • New Career As Real Estate Agent - Ilyce gives advice on how to get started as a real estate agent. After getting your license, learn from the masters.

  • Mortgage Denied Due to Low Appraisal - A home buyer's mortgage is denied because the appraisal amount did not match the buying price. Ilyce and Sam discuss how a mortgage contingency works.

  • Can Home Buyer Sue Seller Over Bad Smell - A new home owner notices a bad smell and wants to sue the seller. Ilyce and Sam explain that their ability to sue the seller for his or her failure to disclose a material problem with the home will generally depend on various factors: the state’s seller disclosure laws, what the seller knew, and what the contract for purchase of the home stated.

  • Home Equity Loan Great Refinancing Option - A couple shows how they cut several years off of their mortgage by getting a home equity loan. Ilyce encourages other seniors to be creative about their mortgages.

  • Beginner Real Estate Investor - Ilyce offers real advice on how to become a real estate investor. Avoid paying middle of the night infomercials and use that money towards a down payment.

  • Managing Capital Gains Exemptions on Two Properties - We would like to sell two properties to put toward a new home we are building in another state. Are we entitled to the $250,000 capital gains exemption for each property?

  • Compromise Buying - No matter how much you have to spend, compromise is the name of the game when buying a home.

  • Credit Errors a Problem For Home Buyer - How should a first time home buyer deal with the errors on her credit report? Ilyce suggests the husband file for mortgage while the wife sorts out her credit history.









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