My husband and I were in Las Vegas and made a horrible mistake in sitting through a time share presentation so that we could obtain half-price tickets to a show. The presentation was at an office on The Strip. Unfortunately, I did not research the company before the presentation. The salesman gave only his first name and had no business card. That should have been a clue about the company.Read More »
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I have a question regarding a rental house that my brother and I jointly own. The house was our parents' home and was willed to both of us several years ago. The mortgage was paid off. We have a joint checking account in which we originally deposited $5,000, and we use the account for all house transactions. We have been leasing the home for $1,300 per month, and until recently we each took $600 a month out of the account. Due to taxes, insurance and maintenance, the original balance in the joint checking account is gone and the monthly $1,300 income is not enough to maintain the house and still provide a monthly $600 payout to both of us.
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Some time ago I entered into a sales contract with my then-fiancee to buy a house. Both our names (hers was in her maiden name) were on the sales contract, which we both signed. I turned over my half of the down payment, we went to closing and we owned the house (or so I thought).
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I want to get the PMI off my mortgage in February of next year, which will be two years from the time of my refinancing. All my payments have been on time. I have communicated with my current mortgage company that I wish to have the PMI canceled, and they informed me in writing that I have to wait for two years and that I have to get an appraisal, which I have to pay for, in order to make sure I will have 20 percent equity of the new appraised value.
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My sisters and I "own" some Tennessee properties inherited from my late father, who died in 1984. In his will, he wanted to provide for his current wife, "B,” so she was given a "life estate" for her use of both properties during her lifetime. My sisters and I are the owners on the deeds. One of the properties is a residence, and the other is an income-producing commercial property.
Tagged with: ForeclosureRead More »