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 [...]
If you want to take out a loan on an inherited home, finding the right lender and knowing your credit score can start you off on the right path. Q: My grandparents passed away years ago. Then, last year, my mother passed. My grandparents owned a home and I paid a title company to complete [...]
What might be hiding in the fine print of your mortgage documents? In this reader’s case, a prepayment penalty that they may not be able to get out of. Q: I recently took out a mortgage to purchase my first home. It’s a condo. I went with a non-traditional lender that offered a loan about [...]
This reader stopped paying his mortgage when his loan was sold. It’s been a few years since he made a mortgage payment and apparently has little contact with the lender. Q: My mortgage was sold to a loan processor in 2011. I got a welcome letter saying my payment was $635 when it really should [...]
What happens to my property taxes when I pay off my mortgage? I am finally done paying off my mortgage, but I’m wondering if my property taxes will change. Will my real estate taxes change or will my property be reassessed after making my last mortgage payment? Q: I’m just about to pay off my [...]
My husband is going to take out a mortgage with my mother-in- law, put the house into a trust, name themselves as the trustees, and my husband and his siblings as the beneficiaries. Is taking out a mortgage with my mother-in- law a good idea? Q: My husband and I made on offer to my [...]
What's the largest vacation rental marketplace online today? How can you find a good mortgage broker or lender? Get answers to these questions by listening to this week’s Ilyce Glink Show. You can click the audio link below to listen to the full show, or download the podcast via iTunes. On this week’s show I talk to Carl [...]
You’ve may have read that you should prepay your mortgage early to save on your total interest payments. But if you have refinanced or purchased a home recently, you may be one of the millions of homeowners whose mortgage is at historic or near-historic low interest rates. Odds are possible that rates won’t be this [...]
“Spend less, save more.” It’s the third most popular new year’s resolution behind getting organized and losing weight, according to a Journal of Clinical Psychology study on resolutions. While I can’t help much with resolutions one and two (though it is helpful to apply the same principles to thinning your waistline as thinning your budget), the third one is [...]
