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 [...]
Mortgage rates are on the rise and hurting buyers. Here's what you need to know if you plan to buy a home this year. The worst of all possible confluences for home buyers got a bit worse this week: Mortgage interest rates jumped up again, to the highest level in five years. At the same [...]
I’m struggling to pay my mortgage. What are my options? Is it worth going back to a high paying job but missing out on time with the kids? Here’s what I suggest: Q: I need $8,000 to bring my mortgage to date. It costs me $1,000 per month. I have $100,000 in equity. It seems [...]
How to manage a life estate: This older form of transferring an estate can cause a lot of confusion. Here’s what you need to know about your obligations. Q: My dad quit claimed his house to me but if he wants, he can live there his entire natural life. Does that mean I own the [...]
What’s the best way to help a family member with a private mortgage? Depending on how your structure the interest rates, you may face issue with the IRS. Q: I set up a private 15-year mortgage with my niece several years ago at 3.5 percent interest. The paperwork is all properly filed. She is down [...]
What you need to know about prepaying a mortgage. Based on the type of mortgage you have, your loan terms may change. Q: I saw your video on your YouTube Channel on how making an extra payment on your mortgage pays your loan down faster. When you make an extra payment do you apply all [...]
Have you received a notification about unclaimed property? How to find an assignment of mortgage if you need to prove that unclaimed property from the mortgage company belong to you. Q: How do I find an assignment of mortgage to prove that the monies in the division of unclaimed property for my state belongs [...]
Selling your home when the property value is less than what you owe on the mortgage can be difficult. Here’s what I suggest. Q: We have a mortgage that has been sold several times over the years. We have recently obtained a copy of the mortgage from our lender. I’m trying to find a reasonable [...]
When it comes to money, Millennials are doing better than many people think. And yet the vast majority are still fretting about their money, even as the oldest part of the cohort has begun applying for mortgages. Let’s start with money. Millennials (age 23 to 37) are saving money. There’s no doubt about it. Nearly [...]
Is your mortgage loan forgiven when you outlive the lender? Certain legal loopholes may make it a possibility, but don’t bet on it. Q: I have paid $30,000 of a $60,000 mortgage on vacant land but then got behind on payments. The owner has failed to foreclose. I have continued to pay the real estate [...]
