Decorate Your Home for Halloween on a Budget - 10/29/08 06:50 PM
Halloween has truly become a popular holiday event. Halloween Spooktacular parties are becoming commonplace and that calls for home decoration. Watch some thrifty home decorating ideas that will make your Halloween party truly "Spooktacular."
Check out this video my company, Think Glink Publishing, made for the Discover Edge. I also posted another one about fun Halloween food recipes. Enjoy!
… (0 comments)
|
Easy Ideas for a Halloween Feast - 10/29/08 06:44 PM
Make your Halloween party SPOOKTACULAR with these easy, inexpensive and fun ideas.
My company, Think Glink Publishing, created these (and other) videos for Discover EDGE (www.discover.com/edge), a free resource of stories and information on how to be smarter with your money.Watch some thrifty home decorating ideas that will make your Halloween party memorable.
… (6 comments)
|
Mortgage Company: Notify It About Second Home Change - 10/27/08 10:07 PM
By Ilyce R. Glink and Samuel J. Tamkin
Summary: Mortgage companies often issue loans contingent upon how the home will be used. Will the home be a primary residence or a second home? A Think Glink reader asks whether he needs to notify his mortgage company if he decides to change the status of a second home. Sam and Ilyce say it depends on the mortgage lender and what the mortgage loan documents say. In some cases mortgage loan documents contain a time limit for notifying mortgage companies about home status changes.
Q: We recently purchased a second home with a … (1 comments)
|
1031 Exchange: Real Estate Market Conditions Affect Deadline - 10/26/08 12:50 PM
Summary: A 1031 exchange allows you to buy and sell investment property including real estate and defer paying taxes to the IRS. Some Think Glink readers ask about completing a 1031 exchange - they're concerned that they may not be able to sell their old property before buying the new one. Real estate market conditions may make it harder to sell the old property and potentially prevent a successful 1031 exchange. Ilyce suggests talking to a 1031 exchange company about doing a reverse exchange. Learn how real estate market conditions can affect a 1031 tax exchange or Starker exchange and why … (1 comments)
|
Small Houses Can Save You Money - 10/24/08 03:01 PM
Ten years ago, architect Sarah Susanka published a coffee-table book called "The Not So Big House."
The premise of the book was that we should build smaller, but nicer. It was a counterculture punch to the McMansions sprouting up in developments all over the country, with their double-height ceilings, vast basements , and $100,000 kitchens. Back in 1998, it seemed like a quaint idea to build smaller, but nicer. But Susanka clearly touched a nerve, as her "Not So Big" idea has grown into a multi-million dollar franchise, with several books and a successful website. Just in time for the 10-year … (0 comments)
|
Can Foreclosure Prevent a Contractor from Being Paid? - 10/14/08 08:42 PM
By Ilyce R. Glink and Samuel J. Tamkin
Summary: A contractor writes that a mortgage company owes him payment for work on a fire-damaged home. The contractor nearly finished the work and then the mortgage company foreclosed on the home and halted payment to the contractor. What can the contractor do to get his money? Sam and Ilyce advise filing a mechanic's lien against the property. Learn more in this Think Glink column.
Q: I'm a contractor who has completed repairs on a house that was damaged by fire. The insurance company for the owner of the home sent … (7 comments)
|
Buying Real Estate During Economic Crisis - 10/13/08 04:19 PM
If you don't have a job, you're not buying a house -- at least, you're not buying a house unless you're paying for it in cash. And for most folks, cash seems to be in short supply at the moment.
The credit crisis continues to grow in scope and scariness. Third quarter 401(k), 457, 403(b) and IRA statements are out and mental calculations are being made about how much the numbers have dropped since the statement arrived in the mail.
With the central banks around the world working in concert (for the first time ever) to lower interest rates, rising unemployment, … (0 comments)
|
Real Estate Property Management Software - 10/13/08 04:04 PM
Here's a question I received online during the show:
Dear Ilyce, I listen to you every Sunday without fail- I learn so much from you. Thankyou so much for your great service.Between myself and my son, we have 5 rental properties in Florida. We could'nt sell them --so we are stuck and have to rent them. I heard that there are some soft-ware programs availabl, to manage the rentals. One of them -I heard -is: Rentalprosoftware.com.Is this a good company, or are there any others which may be better ? Are they useful? Thanks Ilyce.---Bessie.Here's my answer:Dear Bessie:I don't know about … (5 comments)
|
BBB Warns Senior Citizens About Telephone Scams - 10/13/08 04:01 PM
Grandparents across the country are receiving calls from their grandchildren who are in trouble. They've been in an accident, or arrested and they need cash wired ASAP through MoneyGram or WesternUnion.
Only..... It's a SCAM!According to the Better Business Bureau, senior citizens must be ont he watch for an emerging phone scam preying on grandparents nationwide. Before wiring finds anywhere, check to be sure your grandchildren are safe. It sounds obvious, but call their parents. Talk to them on their cell phones. Send an email or text.Above all, keep a cool head and don't agree to wire funds anywhere until you … (0 comments)
|
Buying Real Estate During An Economic Crisis - 10/09/08 10:00 PM
Summary: Buying real estate during the economic crisis has become more difficult. I describe the current economic crisis, including the drop in retirement savings and a rise in the unemployment rate. I explain how these factors affect the real estate market and home buyers. In this economic crisis, mortgage lenders have tightened lending requirements making it more challenging to obtain a home loan. But if you're in a stable situation with a good credit score you may still be able to refinance your mortgage loan. You can also learn about a new Money Management International program for home buyers in this … (0 comments)
|
Mortgage Loans Change In Economic Crisis: What Do YOU Need To Know? - 10/09/08 09:55 PM
With the real estate market in decline, mortgage lenders are stricter about requirements for loans. Do you need a bigger down payment , a better credit score , or more solid work history ? How has qualifying changed and what do you need to know in order to qualify for a mortgage loan in today's tough market? Watch this Expert Real Estate Tips segment to find out more about what mortgage lenders require . Also be sure to check out more of my videos on my YouTube channel, ExpertRealEstateTips ! … (0 comments)
|
Partnership Agreement Prevents Home Sale Woes - 10/08/08 05:21 PM
Summary: A ThinkGlink reader asks about splitting up the investment in a condo after it's sold. Two friends contributed to the condo's down payment but only one of their names is on the mortgage. How much of the proceeds are each of them entitled to after the sale? Can the friend who's not responsible for the mortgage claim a significant amount of the sale proceeds? Sam and Ilyce advise contacting a real estate attorney to determine who gets what and to set up a partnership agreement the next time someone buys property with a friend.
Q: My daughter bought a condo … (0 comments)
|
Video: "What Are The Market Conditions in 2008?" - 10/08/08 05:13 PM
What's the real estate market like at the moment? Agents from Southern California describe the real estate market. Because the 2008 real estate market is flooded with inventory, it's a buyer's market . Current real estate market conditions make financing a challenge. View this segment to learn more about the real estate market conditions from Expert Real Estate Tips . Be sure to check out more of my videos on my YouTube channel, Expert Real Estate Tips. … (0 comments)
|
What Would You Do With $800 Billion? - 10/06/08 07:58 PM
On the Bailout special this Sunday, I talked about how I'd spend maybe $250 billion on buying out troubled mortgages, but that I'd spend maybe $500 billion on a massive infrastructure program.
Building and rebuilding roads, schools, bridges (not including the "bridge to nowhere") would put people to work with real jobs that pay real wages. It's a lot better to get a solid income with benefits than a one-time $1,000+ check.Here's an email I just received:Your suggestion for a $500 billion upgrading of the US’s infrastructure to serve as an economic stimulus in place of checks to taxpayers or â€bailouts†… (2 comments)
|
Reverse Mortgage Information - 10/06/08 07:56 PM
On yesterday's show our first call was from Howard. He's 75 and his wife is 65. Their house (he said) is worth about $170,000. He has a $20,000 mortgage and they are on a fixed income. They're wondering if a reverse mortgage is right for them. He went and talked to a lender who quoted them 10 percent in closing costs, which seemed high.
Darned right it's high. HUD is now the only backer of reverse mortgages. The fees were recently reduced. According to one lender who contacted me during the show, the FHA fee is 2 percent and the lenders … (2 comments)
|
Quit Claim Deed Can Split Community Property - 10/04/08 01:02 PM
Q: A friend and I got together to buy a condo in San Diego. We decided that buying together would get us a better place to live closer to our jobs. Both of us are listed on the mortgage.
But now I want to remove him from the mortgage. He hasn't contributed financially to the condo at all. He is tearing up the place and being bothersome to neighbors and guests. He also has no secure job. How can I legally evict him and remove his name from the mortgage?
A: Your question isn't really about getting a person off a … (0 comments)
|
Fire Damage Jeopardizes Short Sale - 10/04/08 12:59 PM
Summary: A ThinkGlink reader writes that fire damaged a home he bought in a short sale. While the home seller had insurance, the insurer had the seller make the repairs. The home buyer worries the repairs are substandard but there's no building code for the home's location. What can the seller do to get out of the contract? Ilyce suggests contacting a real estate attorney to figure out his options.
Q: We have a contract on a short sale home. We were supposed to close on July 30th, but the upstairs of the home caught fire. Amazingly, the owners had insurance … (0 comments)
|
Use IRA Money to Pay Off Mortgage? - 10/04/08 12:55 PM
Summary: A ThinkGlink reader asks about withdrawing IRA (individual retirement account) money to pay off his mortgage early. Is this is a good idea? What are the tax consequences to withdrawing IRA money? Ilyce discusses the pros and cons of paying off the mortgage with money from an IRA.
Q: I'm 63 and retired. I have a good pension and have $200,000 in an IRA that I did not plan on using until age 70 1/2. But now I'm thinking about withdrawing $100,000 to pay off my mortgage. Is that a good idea or not?
A: You have several options, … (0 comments)
|
Personal Finance Tips For Financial Crisis - 10/04/08 12:48 PM
It's been a year since the stock market hit a high in October 2007. Since then, the financial picture has changed drastically.
Hundred year old investment banks have disappeared. Trillions of dollars of wealth has evaporated. Residential real estate has dropped in value by more than a third in some places as foreclosures have skyrocketed. Some of those who had counted on a lifetime of savings to provide an extra measure of comfort and security in retirement are rethinking their plans.
And the cost of food and fuel has risen sharply. Consumer confidence is down and it would take around eleven … (1 comments)
|
Consumer Bankruptcies Rise Nearly 30 Percent - 10/04/08 12:44 PM
The number of consumer bankruptcies filed in September rose 28.6 percent compared with a a year ago, according to the American Bankruptcy Institute. More than 88,000 consumer bankruptcy filings were made in September.
ABI says the number declined 8 percent from August. The percentage of Chapter 13 cases, where consumers can often work out terms to keep their homes, was 33.5 percent for September.
"The continued rise in personal bankruptcies reflects high consumer debt, made worse by energy costs and the weak housing market, trapping many households in homes they can neither afford or sell," said ABI Executive Director Samuel … (2 comments)
|
Short Sale Videos - 10/01/08 02:57 PM
Exciting news: I have just posted the first two of several videos on short sales. Check them out in my post below or go to my YouTube channel. Feel free to post these videos elsewhere. Spread the knowledge!
What is a Short Sale?
When you owe more on your home than it's worth you may want to do a short sale.
In a short sale the bank forgives some of what you owe them. It's more cost-effective for a bank to do a short sale than foreclose on a home.
Short Sale or Foreclosure: Will You … (2 comments)
|
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
;)
;)
;)
