A Realtor's Perspective

Financial advice for real-life problems

Tuesday, June 30, 2009

Over the years, I’ve found that people end up in financial trouble not just because they don’t have enough money. It’s because of poor decision-making. Read story.

Bounced check no harm to credit

Friday, June 26, 2009

Q: I am planning to refinance my mortgage. I am self-employed, and a $4,000 check that one of my clients wrote for some work I did was sent back to me because he didn’t have enough money in the bank to cover the $4,000. Read story.

Tell insurer about remodeling to get full coverage

Friday, June 19, 2009

We did a fairly small ($6,000) remodeling job on our house in 2007. Now we are planning a bigger job that will involve lots of construction, including the addition of two new bedrooms and bathrooms. Are we required to report this information to our insurance company? Read story.

Co-owning can be dicey if 1 wants out

Friday, June 12, 2009

My twin brother and I inherited our parents’ home after they died in the 1990s, and we have been renting it to tenants for the past several years. The mortgage was paid off in 2001. I would now like to sell the place and use my share of the proceeds to start a business, but my brother wants to hold on to it and keep renting it out. We hold title to the property as joint tenants, so I cannot simply sell my half-interest to someone else. What can I do? Read story.

Unpaid property-tax bill could spur foreclosure

Friday, June 5, 2009

Although our mortgage loan payments are up-to-date, we did not have the cash to pay the final installment on our property-tax bill due in April. Our lender has threatened to begin foreclosure proceedings if the tax bill is not paid immediately. Can the bank do this, even though our loan payments have been made on time? Read story.

Renters should consider options after job loss

Friday, April 17, 2009

Q: I signed a one-year lease for a home last November, but lost my job in January. My unemployment benefits barely cover half the monthly rent, and what little savings I had are almost gone. Read story.

Costs to increase for FHA loans

Friday, Oct. 3, 2008

The Federal Housing Administration is boosting the cost of its most popular loan-insurance program. The increase will cost many home buyers hundreds or even thousands of dollars. Read story.

How to settle dispute with contractor

Friday, Sept. 26, 2008

When a remodeling job turns sour, it's sometimes best to work out a new arrangement with the contractor rather than making a beeline for court. Read story.

Inspection fee small price to pay for security

Friday, Sept. 19, 2008

No buyer wants to shoulder the cost of an inspector's fee, but it's money well spent if the inspection uncovers hidden problems. Read story.

Buyer's and seller's idea could put them in jail

Friday, Sept. 12, 2008

The real estate market is tough in most parts of the nation, but that's no excuse for either a buyer or seller to fudge on a home-sale contract or mortgage application. Read story.

Think twice before canceling escalator clause

Friday, Sept. 5, 2008

Home prices are lower in many areas, but it doesn't necessarily mean that owners should cancel a common provision in many insurance policies that protect against the rising cost of rebuilding after a fire or other calamity. Read story.

Don't fret about closed credit card account

Friday, Aug. 29, 2008

Several banks are closing dormant credit card accounts, but there are some easy ways for homeowners and buyers to protect against a long-term drop in their overall credit score. Read story.

Bring neighbors onboard with plan before launching home-based business

Friday, Aug. 22, 2008

Anticipate problems with zoning laws and neighbors before you start a home-based business. Read story.

Law protects military members' homes

Friday, Aug. 15, 2008

A federal law approved in 2003 protects most servicemen and servicewomen from losing their house or apartment if they're deployed in another country. Read story.

FDIC guarantees deposits, not mortgages

Friday, Aug. 1, 2008

When the Federal Deposit Insurance Corp. seizes a bank, it reimburses most of the savers. Borrowers, however, still need to repay their mortgages. Read story.

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