What is a reverse mortgage? And, why does a reverse mortgage hurt rather than help an elderly homeowner? Q: I was recently evicted from my home, where I lived with my mother before she died. This is due to a reverse mortgage. I am disabled and now have no home. My mother signed this loan [...]
HOA: Can we shut down our HOA? What can a small community do if no one wants to step up and manage the homeowner association? https://www.youtube.com/watch?v=vCg1nR3GzfU Q: We live in a small townhome community of 24 houses in Maryland. We have a homeowner’s association (HOA), and it is generally very mellow, without any [...]
What are some common homeowner association problems? So many homeowners have problems with their homeowner association. Whether you live in a condo, co-op, a townhome or subdivision, each version of a homeowner association has a set of common problems that everyone will face. Sometimes it's mismanagement of the homeowner association itself or the association hires [...]
Selling a home outside the U.S.? You may owe taxes to the IRS. Q: I sold my house in my home country of Guatemala last year for around $90,000. The buyer paid me half of the sales price by wire transfer to my United States bank account. The other half was paid to me to [...]
How do you execute a living trust after the death of the trustee? What is the trustee's job with the living trust? How do you manage expenses with a living trust? Q: Before my father died, he and his second wife established a living trust for their house. In the trust document, my stepbrother and [...]
Neighbor's House Fire Damaged My House. Is our Neighbor Liable for the Damage? Q: We live in a townhouse. The unit attached to ours had a major fire. The fire also caused considerable damage to our home. We have been in temporary housing for the last 17 months waiting for our home to be restored. [...]
Can I have two main residences? This reader wants to know if she can have two main residences. The IRS only permits each person to have one primary or main residence. You need to pass the IRS test (see below) to tell which is your main residence. Q: My husband was laid off several years [...]
Should You Plan a Move Before Retirement? How to handle a sale and purchase of a new home and move before retirement? Q: I used to listen to you on the radio in Atlanta and I’m hoping you can help me now. My husband is 65 and I’m 63. We live in a home that’s [...]
As we move into Year 3 of the Pandemic, America's personal finances seem to have improved. With that in mind, we offer some Money and Credit Resolutions for 2022. Sign up for Ilyce Glink's Love, Money + Real Estate newsletter for access to more stories like these. Here’s a guess: there aren’t many of us [...]
Electric Car Charging Stations: an Update As we enter 2022, there has been a surge of interest in electric cars. In 2018, there were a million electric cars on the roads in the U.S. Last year, Tesla sold more than one million cars. General Motors announced a big move into the electric car space. PolicyAdvice [...]
