In the dreary real estate market, short sales are quickly becoming the new foreclosures— and that’s actually a good thing. A short sale is not an ideal way to get out of a mortgage you can’t afford, but it’s better than foreclosure, which causes severe damage to your credit score, limits your ability to buy [...]
Bill Nemeth and Merry Brodie join me to talk about recent trends and hot topics in personal finance on the Ilyce Glink Show on noon CST Nov. 11 on WSB Radio. For today's episode Bill and Merry give us some insight into the 2012 Tax Review and information about the looming 2013 Fiscal Cliff. Bill [...]
When getting a divorce and signing a quitclaim, it is crucial to remember your home mortgage is separate from your property title. Q: I’m divorced and signed a quitclaim deed to my ex-wife. My ex-wife failed to make payments on the mortgage and the home has now gone into foreclosure. Mine is the first name [...]
One of the ways to teach children about money is to help them open a bank account. Most banks will allow you to open a savings account for your child, no matter his or her age. This is an important step to building a strong credit score for your child, and it can be a [...]
If you live in one of the nation’s largest cities, you might be wondering why foreclosures are getting worse in your real estate market than they are nationwide despite the encouraging headlines reporting that foreclosures are finally on the decline. The truth is that the national foreclosure picture today is a tale of two cities. [...]
With the cost of college rising and the economy still hindering young graduates’ ability to stay afloat, more parents are raiding their retirement and savings to help their kids pay for life on their own. National financial planning firm Ameriprise Financial asked more than 1,000 baby boomers if they provided some level of financial support [...]
The question of how to pay for medical expenses as we age isn’t one many of us want to answer. It’s hard enough to think about not being able to get dressed, take care of ourselves, or move around our homes without wondering how much it will cost to get help. However, those planning for [...]
Super Storm Sandy and the election have everyone talking but there is real devastation for homeowners and home value behind the headlines. The home repair industry is bound to be stimulated given damage estimates issued by CoreLogic but in the short term, cleanup has just begun. And usual, providing personal finance advice, real estate advice [...]
Applying your mortgage escrow account overage towards your loan principal will help pay off your mortgage and lower your interest payments. Q: I have a $2,000 overage on my mortgage escrow account. Should I let the lender apply the cash to the next 12 payments equally over the next year or get a refund and [...]
