Ex-spouse uses home equity line of credit. If you didn’t change the name on the account during the divorce, they could be using your HELOC, and hurting your home’s worth in the process. Q: Can my ex-husband refinance our home equity line of credit (HELOC) without my consent? I have a signed quit claim deed [...]
Can selling inherited property affect your healthcare subsidy? Depending on the value of the property, it could. What you should consider before selling. Q: When my mother purchased her small condo 20 years ago she put it in my sister’s name and in my name. She passed away a few years ago and my sister [...]
Landlord rights when a tenant breaks the lease vary based on the wording of the lease agreement and state regulations. Here’s what you need to know. Q: I have tenants who signed a six-month lease last month. A few days after they signed, they informed me that they just bought a house, and would like [...]
Filing income taxes when you move out of state can quickly become complicated. Consider all of these factors before you file. Q: We sold our house in Connecticut and moved to Virginia. Do we have to file income taxes in both states? Our house was sold in end of July of last year and we [...]
Having your bankruptcy recovery plan in place before filing will help you get back on track to rebuild your credit post-bankruptcy. This is how to get started. Q: My husband and I are going to file bankruptcy within the next 2 to 3 months on our personal accounts and our business. What is the best [...]
Tax rules when buying a condo for your college student can get complicated, especially with capital gains taxes. Here’s what you need to know. Q: We bought a condo in our name and paid for it with cash. Our son moved into the unit and paid no rent for 18 months. He was working on [...]
How the new tax law affects retired homeowners will vary greatly depending on the state the homeowner lives. These are the basic rules retirees need to know before buying or selling. Q: I am a regular reader of your column for many many years. I am a senior, widowed and have some retirement income and [...]
We recently received a letter in response to one of our readers who wondered whether the timeshare owned by a parent would become the reader’s responsibility after the parent’s death. This is what this person wrote (The letter has been edited for clarity and space). Q: You recently ran an article from a reader who [...]
Will a loan from a family member impact my taxes? The IRS will treat the loan differently, depending on how you pay it back. Q: My mom is giving us money to buy a vacation home. We will pay her back monthly but it's more of a handshake agreement. Will there be any tax implications [...]
What to do when your building won’t fix the heating problem. Thinking outside the box for solutions could help you avoid the need for legal action. Q: About 20 years ago, I purchased a condominium unit in an older high rise building in Chicago. From the start, it was freezing cold in the unit each [...]
