In today’s difficult post-Great Recession economy, I find that more of my clients are renting out their single-family homes. This allows them to move to a smaller place so that they can make ends meet or save money for the future more easily. Some of my clients who have second homes are also renting those [...]
Are you starting to feel cramped in your apartment? Are you ready to start a family but not ready for homeownership? Did the housing crash leave you skeptical about buying a home? If so, you might want to consider renting a single-family home. The single-family rental market has exploded since the housing crash—many of these [...]
Should I refinance for 15 or 30 years? When refinancing a rental property, think about your long term and short term goals. Q: I am interested in refinancing a rental property that qualifies for the Home Affordable Refinance Program (HARP). I owe $91,000 on the first mortgage and I have a second mortgage at $19,000. [...]
When figuring out how to refinance your underwater mortgage, be sure to look into the Home Affordable Refinance Program (HARP 2.0). Q: I enjoy your free weekly newsletter and Ilyce's Sunday show. I have a 6 percent mortgage with my lender on a rental property that has a balance of $75,000. The current value is about [...]
Have you moved and decided to rent out your old house rather than sell it at today’s depressed prices? Are you renting out your vacation property? Did you buy a foreclosure or short sale with a residential mortgage and—after you fixed it up—begin renting it out while waiting until you can sell it and make [...]
