Getting a bad home appraisal before selling is common. You can ask the bank for a new appraiser. The appraiser should know the local market. Q: I am in the middle of selling my home. I got an offer at 97 percent of my asking price. The inspection and all went well. In addition, I [...]
Underwater homeowners, need options for selling an underwater home? If a lender won't agree to a short sale, there are other options. In a recent column, we discussed an underwater homeowner’s options when dealing with the sale of their home. In an underwater loan, the homeowner owes more money to the lender than the home [...]
When does it make sense to refinance a home loan? Depending where your mortgage is, it may not be wise to pay thousands of dollars to refinance. Q: I was listening to you today on WGN radio and wanted to ask about my Condo loan. I refinance my home in 2000 at a rate of [...]
Finally, summer is here. Our long-awaited vacations are just around the corner, and those of us with summer toys like boats, campers, and ATVs have already started checking them over to be sure they are ready to go for the season. But before you head for the hills with your camper or hit the waves [...]
Home prices are rising at a double-digit rate, surprising experts and consumers alike. In some California markets, real estate prices are zooming so fast that they have ignited bidding wars and raised concerns that these real estate markets are facing another bubble—and subsequent crash. A number of factors are contributing to rising prices. The most [...]
If you're remodeling your home, there are reasons why you should look at cost vs. value report. The data can be presented by region. Q: Today I read your advice in the Washington Post to a question about cost (and value) of remodeling a bathroom. My husband was an Art Director for Remodeling Magazine for [...]
Selling your house as a short sale with two lenders can be complicated if your two lenders disagree about the true value of the property. Q: I have a question regarding a short sale. If somebody has a mortgage with one bank, and home equity line of credit with another, how it would the negotiations [...]
Many people have problems with home appraisals today. There has been a reduced emphasis on local market knowledge by lenders. The housing crisis has left buyers, sellers and homeowners facing some difficult moments wondering whether the home they want to buy, sell or refinance will appraise out in value. We’ve answered a number of questions about [...]
Should I sell my investment property at a loss? If your rental property will continue to appreciate, hold onto the home. Q: We live in Illinois but own property in Las Vegas. We are considering selling the Las Vegas property since the Las Vegas market is moving right now. We’re looking for some professional advice. [...]
You may have heard a lot about the importance of buying life insurance, but you may not be sure if it applies to you. Well I have a newsflash for you: It does. Before buying life insurance, it’s important to consider how much coverage you and your family will need. One of the biggest excuses [...]
