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Compare Investment Options With A Fee-Only Financial Planner
Q: I finally sold my home after 2 years on the market. A couple of months ago, I purchased and paid cash for a new home for about $400,000. I am 70 years old with no debt. I own two …
1031 Exchanges For Real Estate Investment LLC
Q: Does doing a 1031 exchange inside an LLC come with any additional headaches? A: A 1031 exchange is term used to describe the sale and purchase of real estate that defers the payment of any federal income taxes. If …
How To Qualify For A Mortgage On A Fixed Income
Q: I am a retired 63 year-old with a combined income of $37,000 annually. My wife will begin collecting an additional $704 per month in Social Security starting this November. We both have excellent credit scores of 800. Here’s our …
How To Terminate a Listing Agreement
Q: I recently terminated a listing agreement with a real estate sales office. One week after terminating, they presented me with a contract from a buyer to buy my home. How long do I have to wait before I can …
How To Buy A Tax Lien House As Investment Property
Q: About 3 years ago my neighbor moved out and abandoned her home. Now I find that the house will be auctioned off for tax delinquency. The starting bid is very low. I would like to bid on and try …
Payroll Deduction Error Results In Employee Overdraft
Q: A friend told me that her employer mistakenly overpaid her in 2010, so they set up a payroll deduction for her to repay the money. Accounting mistakenly keyed in $500 instead of the $50-putting her in a financial hole, …
Short Sale Price Negotiation Between Homeowner and Lender
Q: Will my mortgage company set the price for the amount they will accept for a short sale? And, will that number include the fee for a Realtor to help sell it? A: You have asked an interesting question and …
Mortgage Lender Can Pursue Homeowners After Foreclosure With Deficiency Judgment
Q: I’m in trouble with my house. I’m heading to foreclosure, unless I can complete short sale quickly. Once we’re done with the property (either due to foreclosure or in a short sale), can the mortgage company require me to …
Buying a House with No Income
Q: I am 66 years old and I bought my existing two-story home in November 2007 for about $235,000. The outstanding mortgage balance is $180,000. I wish to move to a single story home of similar value, but I do …
How to Save Money on a Tattoo
When I was 18, I decided I needed a tattoo. Very original, I know. But I was determined. A friend of mine and I went to a new tattoo shop in our college town. I had a coupon for 10% …
