You should file for bankruptcy if you owe more than you make annually and you understand how bankruptcy affects your credit score. Q: I have been unemployed for about a year and still have not gotten a job. I was paying my credit cards until a couple of months ago. My unemployment benefits stopped and [...]
Foreclosure of a rental building will not often lead to eviction if you pay rent on time. Foreclosure of the rental could mean bigger rates. Q: First of all, I adore your radio show! I drive rental cars for a living, and I listen to you each and every Sunday. Our problem in a nutshell, [...]
Once your mortgage is paid off, you need your deed, canceled documents from your lender and to take your lender off your insurance policy. Q: In early 1997, I purchased a home in Gwinnett County, Georgia. I have since paid off my mortgage and have a question I hope you can answer. I received a [...]
Consider renovating your homeowner’s insurance policy before picking up a hammer or hiring a contractor. If a fire gutted your home, how would you feel if your homeowner’s insurance policy paid only three-quarters of the cost of rebuilding it? Not too happy—and understandably so. Unfortunately, that’s what can occur if you forget to update your insurance for such big-ticket [...]
In Fiddler on the Roof, Tevya fantasizes about what life would be like if he were a wealthy man. How many times have you thought, “If I had a million bucks, I’d be so happy—and I’d never have financial problems again”? Yet, you watch the news and see all these celebrities and athletes, making fortunes [...]
A mid-year economic report with panelists Greg McBride, Trey Loughran, Steve Ely and Doug Walker. Topics includes the credit crisis, homeowners and the housing market. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show July 15, 2012 on WSB Radio. I am broadcasting this week from [...]
Real Estate, Credit and the Economy panel - midyear report 5 p.m. CDT Hutton Hotel Penthouse, 1808 West End Avenue, Nashville, TN Household expenses outpace income, the real estate market continues to flounder and lenders are still holding tight to their purse strings. Yet each year the economy seems to be growing more than [...]
Mortgage fraud cases and other types of fraud are still haunting the real estate market. To avoid fraud and scams, don't pay money upfront. Appraisal fraud. Mortgage fraud. Foreclosure fraud. Foreclosure rescue fraud. There are so many ways to scam home buyers, homeowners and lenders. According to the FBI’s mortgage fraud website, the tally of [...]
If you want to refinance to pay off your mortgage early, consider if refi allows you flexibility to comfortably pay off your mortgage. Q: We presently have a 20-year 5.5 percent fixed rate mortgage with about 14 years left to go. We owe approximately $163,000. Our home appraised for $200,000. We would like to refinance [...]
