Want to know your options for an underwater mortgage refinance? Here's what to do when you can't refinance your underwater mortgage. Q: I built my home in 2006 for $750,000. I have a loan with a balance of about $525,000 and an interest rate of 6.625 percent. I have been trying to refinance my mortgage [...]
When going through a divorce and breaking up your mortgage, a mortgage loan assumption might be an option that could help. Q: I read your recent column in my local paper titled “Giving up interest does not free you from mortgage obligation.” The ex-wife was willing to give up her claim on the home to [...]
Refinancing your mortgage? Before you refinance your mortgage, here's what to know and ask during the loan application process. Q: I enjoyed your recent column that appeared in our local paper. I've just gone through a refinancing and found myself wondering about certain questions I should have asked. The main question was whether my loan [...]
Getting approved for a home loan is scary if you don't know how much home you can afford. Ilyce Glink explains in today's Real Estate Minute. Getting a home loan doesn’t have to be scary. You just have to know your limits when it comes to taking on debt. The housing bubble and great recession [...]
Thinking about paying off your second mortgage with a home equity loan? Make sure you don't pay more than nominal fees. Q: My first mortgage will be paid in full in a couple of weeks. My home is worth around $300,000. I have a second loan of less than $30,000 with an interest rate of [...]
WSB Radio’s Ilyce Glink Show: Refinancing an FHA loan, selling your first home and cutting back on spending. On this week’s Ilyce Glink Show on WSB radio, Ilyce explained the first rule for her concept of “rebuilding America one house at a time”—getting yourself back to ground zero. Ilyce’s idea for rebuilding America starts at [...]
Buying a car while refinancing your home can cause some problems if you don't have a lot of cash available. Q: Is it ok to buy a car while I am refinancing my home if I am paying cash for the car? A: If you don't take out a loan for the car and you [...]
Selling you home in a short sale: Is a short sale worth it? A short sale can affect your credit, but you get a break from the IRS in 2013. Q: Our daughter and son-in-law are looking into using a company that sells new homes but agrees to lease your current residence for six months. [...]
Your best friend faces an unexpected car repair and just needs some “floater money” until her next paycheck arrives. Your nephew is still building his credit and needs someone to co-sign his application for a new phone. Would you help either of them out? Both are seemingly innocent requests, but they can lead to big [...]
Are you refinancing with a lien on your property? If you also have title insurance issues, you need to resolve them before you can refinance. Q: Our home has a lien on it from the Georgia Department of Revenue. The Department of Revenue gave us the go ahead to refinance our loan or get a [...]
