Closing Costs May Vary
Closing costs vary for numerous reasons. However, if your lender is quoting you a fee that seems high, you should shop around and compare closing costs from other lenders.
Tipping Generates Good Will
What's a huge topic of conversation this time of year? How much cash you should hand out as a tip this holiday season. If you're wondering what every...
New York Real Estate Market Still Moving
New York real estate is one of the few markets in the country that is still moving at a good rate. Is now a good time to buy a home in the area? It all depends on the neighborhood and how long the homeowners want to be in the house.
Breach Of Contract Due To Death
A woman and her husband had a real estate contract at the time of his death. Ilyce explains the breach of contract due to death clause and how it applies to this unfortunate situation. Unless the contract states that in case of the death of either the seller or one of the buyers the contract could or would be terminated, the contract will remain valid.
Medicaid Lookback Period
The Medicaid lookback period is 5 years. Any changes made to assets within 5 years of applying for Medicaid could come back to haunt you. Medicaid creditors are able to look at any transfers of property made during that time.
Ilyce Glink on WSB Radio – November 4, 2007
This week on the Ilyce Glink Show, Ilyce spent some time going over year-end tax tips with Barbara Weltman, a tax expert from J.K. Lasser. She also discussed how women can better handle their money with Kiplinger's Magazine editor Janet Bodnar, and took calls about credit cards, being self-employed, and selling a house after a divorce. All this and more on this week's Ilyce Glink Show,.
Racking Up Debt Before Closing
Credit card debt can hurt your chances of closing on a home even if you have already been approved for a mortgage. What many borrowers don't realize is that the lender may take another financial snapshot of their lives just before the closing. The second pull of your credit history and credit score could come any time within a week or two of your scheduled closing date. Keep your debt-to-income level the same as it was at the time the loan was approved.
Calculating Capital Gains
A homeowner bought his parents' house for $10 and wants to know what his tax burden will be. The IRS views the profit on the property as the sales price minus the $10 and any costs to sell or improve it, so he will pay taxes on a large profit. Since it is investment property, he'll owe long-term capital gains taxes on the profit.
Builder Won’t Fix Problems From Low Water Pressure
A home buyer says the builder of their new construction problem didn't disclose a water pressure problem. The homeowner now has more problems from lack of water problem that the builder will not fix. The owner needs to determine what caused the problem and what is in the contract before going after the builder.
Pressuring Appraisers Could Land You In Court
With the housing crisis well under way, both lenders and home sellers are trying to squeeze as much value out of homes as they can. This has driven so...