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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.

  • Real Estate Agent - A seller asks about breaking a listing agreement with her real estate agent. The seller signed a 12-month listing agreement with her real estate agent and says she cannot afford to keep the listing until it expires. Ilyce and Sam ask about the real estate agent’s performance and say it was a mistake to sign an agreement lasting longer than 60 or 90 days. 

  • Deed In Lieu of Foreclosure - A reader worries that the lender may foreclose on her home before a deed in lieu of foreclosure can be finalized. The deed in lieu of foreclosure is delayed because the title search is ongoing. She wonders if the title search will come back clear because her name is on the title but not the mortgage. Another reason for the deed in lieu of foreclosure’s delay is that lenders are swamped with similar situations.  

  • Second Mortgage - Homeowners ask about getting a second mortgage or a HELOC since they will own two homes if they cannot sell their current home right away. A HELOC is a home equity line of credit. The homeowners say they can repay the HELOC as soon as the first home sells. Ilyce agrees that getting a HELOC instead of a second mortgage is a good idea.  

  • First Time Home Buyer - Lenders have tightened credit requirements for first time home buyers. To qualify for a loan, first time home buyers need a credit score of at least 660 unless they try for an FHA loan. Ilyce discusses which first time home buyers are good candidates for an FHA loan and what it takes to qualify. 

  • Property Tax - A graduating high school senior writes to ask about buying a home at a tax auction. Localities sell homes at tax auctions when the homeowners failed to pay property taxes. If you pay off the property tax, you buy the home but you do not get to move in right away. The original homeowners may have up to two years to pay the property tax lien and void the sale at the tax auction.  

  • Quit Claim Deed - A reader says his name was added to a house deed using a quit claim deed. The co-owner of the home now wants to take his name off the deed. Can the co-owner undo the quit claim deed transfer? Ilyce says no, what’s done is done, and suggests contacting a real estate attorney.  

  • Estate - Parents inherit a house from their son. He did not have a will and so the family is unsure how to settle his estate. What will it take to keep the house, especially with house values declining? To keep the house part of the estate, the parents will need to keep paying the mortgage, taxes and insurance. To make the right decision, the family needs to fully understand the assets in the estate. 

  • Divorce and Splitting the House - A woman asks about splitting the house in a divorce when her daughter’s name is on the deed but not the mortgage. Her daughter and son-in-law were married only two years before divorce. Splitting a house in divorce can be more complicated without an attorney.  

  • Retirement Living - Baby boomers expect more active retirement living that the generation before them. Baby boomers look at amenities available for use during retirement living. The silent generation has different expectations for retirement living.

  • Debt Collections - A reader wonders if bankruptcy or debt collections are worse. Ilyce explains the credit implications of debt collections and bankruptcy. Bankruptcy will stay on a credit report longer than debt collections will. The type of debt also affects how it is reported and how important it creditors deem it.

  • Real Estate Capital Gains Tax - A reader says he sold his home after living there for more than seven years. He wonders about real estate capital gains tax and what to report to the IRS. If you’re married you can take up to $500,000 in profit without paying tax, after living in a home at least two of the last five years.

  • Buy a Home - A woman says she wants to a buy a home from her parents. To buy a home she would have to show adequate income. She can’t afford to buy a home because she only gets $140 a week. What can she do?

  • Real Estate Broker - A real estate broker writes that Ilyce has a negative opinion of the interaction between sellers and agents. The real estate broker says that a seller in a recent column was unreasonable. Ilyce says she selects an accurate sample of questions for her columns about real estate brokers.

  • Deed in Lieu of Foreclosure - A homeowner signs a deed in lieu of foreclosure giving up his home. The PMI company wants him to pay back money they are losing due to the deed in lieu of foreclosure. PMI stands for private mortgage insurance, which you have to buy if you don’t have enough down payment.  

  • Prenuptial Agreement - A bride asks about buying property with her fiancé before they’re married. She’s concerned about whether to sign a prenuptial agreement. She doesn't want to be stuck with a mortgage she can't afford.  

  • Quit Claim - A home owner asks about a quit claim deed that her ex-husband signed and what it means. She worries about paying a mortgage on a home with a quit claim deed. His signing of the quit claim deed should take the home out of the marital assets.  

  • School Playground Equipment - A reader asks whether school playground equipment stays at the site when the school location changes. School playground equipment is considered a fixture. Fixtures typically stay at the site where they’re installed and have to be excluded from a contract to be removed.

  • Real Estate Market Conditions - Real estate market conditions used to be favorable to home owners. Home values were high and interest rates low. Now, home owners may feel glum about the real estate market conditions but they should improve after the presidential election. Real estate market conditions include interest rates and home values.

  • Credit History - A couple asks the impact of doing a short sale on their credit history and credit score. Their credit history could also be dinged if they file for bankruptcy, which they may do to dump a house. Either a short sale or a bankruptcy filing will hurt their credit history and credit score.

  • Bad Neighbor - A rural home owner asks about her rights when a bad neighbor keeps burning freshly cut grass. The bad neighbor won’t stop burning grass in spite of the home owner’s health and a county law banning it. What can the home owner do about her bad neighbor? 

  • Quitclaim Deed - Domestic partners own a home together and decide to split. They didn’t have a business partnership agreement outlining each of their interests in their property. What happens if one of them signs a quit claim deed?



















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