Splitting mortgage payments with parents. This reader wants to know how to minimize tax implications and how to protect their later inheritance. Q: I have been discussing assisting my father with his mortgage now that he is retired. We have decided on a 60/40 split of the monthly payment, and I’ll pick up the larger [...]
Building your retirement home. How to go about selling your current home and renting while your retirement home is built. Q: We live in Alaska. We have property in Washington that has a large shop on it and we also want to put a house next to it. We are selling our Alaska home and [...]
Will banks lend to an LLC? How the commercial lending process, interest rates and costs differ from residential real estate loans. Q: Are there any lenders that will loan money to a limited liability company that wishes to put up free and unencumbered land as collateral at less than 50 percent loan to value? I [...]
Which debt to pay first when improving personal finances. Which debts to pay down first to improve your credit score and start building your savings. Q: I am "getting back on my feet" financially and would like to know how I should continue to improve my personal finances. Is it better to prepay my mortgage, [...]
As we move into 2020, credit continues to be a buzzword for consumers, but many people are unsure what part credit plays in their personal finances. In a new 5-part series, Credit 101, Ilyce Glink, an award-winning personal finance columnist and CEO of the financial wellness platform Best Money Moves, details important [...]
Are pocket listings unethical? The National Association of Realtors (NAR) has a new rule regulating how and when properties are listed. Our recent article on pocket listings and “coming soon” listings elicited quite a number of comments. Here is one take: Comment: I think you did your readers a disservice by not informing them that [...]
Should I get an appraisal before listing my house? Pros and cons to getting your home appraised before putting the property up for sale. Q: I think you’re doing a disservice to your readers concerning listing your home with real estate agents. The best thing a homeowner/seller can do is spend the $350 or $450 [...]
What happens when you sell a property in a trust? This reader wants to know about the $250,000 gain exclusion and other tax implications. Q: My wife passed away this past year and our home is titled in her trust with me as trustee and my children as beneficiaries upon my passing. Is my cost [...]
Paying property taxes on an abandoned home. This renter can’t locate the owner and wants to know if they can pay back taxes before it goes to auction. Q: I rented a house from a person who turned out not to be the owner of the home. I contacted the authorities and the scammer disappeared. [...]
Should you add a child’s name to your property title? Pros and cons of adding a child as co-owner to avoid going through probate to inherit property. Q: I just read your column giving suggestions to an elderly mother who wanted to make sure her daughter received her home at death without probate. I'm a [...]
