Real Estate Content Index - Page 6

Ilyce Glink Show notes - October 18, 2009 FDIC shuts down the 99th bank this year; FREE BOOKS and EBOOK DEAL; How to Profit from Foreclosures; Herman Cain show.

**Mortgage Refinancing: If You Can't Refinance, Should You File for Bankruptcy Or Let The Home Go Into Foreclosure** Before a divorce, spouses frequently spend hours negotiating the details of each item they own, but they frequently neglect the single biggest asset they own together: their home. The best course of action at the time of a divorce is to require the spouse that is going to retain the home to refinance the home prior to the divorce becoming final. If you allow your ex-spouse to retain the home and the mortgage is still in your name, you are still on the hook for the mortgage payments and your credit is subject to take a hit if the mortgage isn't paid on time or your ex-spouse files for bankruptcy or lets the home go into foreclosure.

**Second Home Loan Modification Is Denied By Lender** More and more people are finding that they have fallen into a trap. They bought a second home or moved to get a job and left their primary home, now when they call their lender to request a loan modification, the lender refuses to give them a loan modification because the home is no longer a primary residence. With that logic, the home will be lost to foreclosure and the lender may end up taking a bath on the loan. Wouldn't it be better for lenders to agree to a loan modification with a borrower looking to keep current with their payments than deny the loan modification on the second home and let the home go into foreclosure?

**Foreclosure Relief and a Reduction in Unemployment Go Hand In Hand** Foreclosure relief is needed to stem the rise but the unemployment rate needs to go down to allow people to earn money to pay their mortgages. Recent statistics may be getting less worse but the economy is still shedding jobs and there are increasing numbers of foreclosures. Eventually the numbers will turn around, but the question is when will we get foreclosure relief and a reduction in the unemployment rate?

**LLC vs Corporation: Can You Do Without Either** When it comes to choosing how to hold your real estate investments, you can choose from many options. The most popular options are using an LLC to own real estate or a corporation. Some decide that they would prefer to hold title to their real estate investments in their own name. Is it wise to own investment real estate properties in your own name?

**Why Buy Title Insurance On a House When You Pay Cash For the Home** If you are making the largest investment of your life, wouldn't you want to make sure you are protected by obtaining and buying title insurance? When you buy title insurance on a house, a title company gives you certain guarantees that you are the rightful owner of the home and certain other title protections. Title insurance does not protect you against future title problems that might develop nor does it protect you from fire or other casualties. But if you are paying cash to a seller are you certain the seller will give you good title to the home?

**Real Estate Buyers as Prospects** How do you know when real estate buyers become prospective buyers for your home? Does something magical occur when a specific real estate buyer knows your home or house is for sale? If you have your home listed for sale, does the listing broker keep count of prospective buyers so that you know who they are?

Foreclosure numbers are dreadful in Q3 2009. Hard to imagine that the foreclosure numbers could get any worse, but the Q3 2009 numbers stunk to high heaven. Two-thirds of the foreclosures in the U.S. are concentrated in the top 10 states, but that won't make homeowners feel any better. Foreclosures are job-driven, and while the unemployment number keeps rising, foreclosure numbers will continue to rise, according to RealtyTrac.

Taylor Bean and Whitaker: From reader comments and questions, we have some answers for Taylor Bean and Whitaker customers. Dealing with the failed mortgage servicer has been frustrating for customers who are concerned about the state of their mortgage loan. Most answers won't come until after the October 31 court deadline, but we have answers to some of the most common and pressing customer service issues with Taylor Bean and Whitaker.

**Gift Tax Limits And The Purchase Of A Home** If you are a parent and want to assist your child in the purchase of a home, you may want to give your kid a gift. But if that gift consists in the entire value of the home, you may have gift tax limits and federal gift tax consequences to deal with. While you should still be able to give the gift and will have gift tax consequences, your child will still be able to purchase a home with your gift.