I am currently trying to purchase a home from my daughter. The loan was approved, but the lender told me there is a law that if you purchase a home from a family member, they can finance only 85 percent of the sales price.Read More »
I lost my home to foreclosure in August 2011. I had a second mortgage on the home that was secured by a deed of trust for $99,000. This was a home equity line of credit that I used to pay off a pool loan, used for home improvements and later tapped each month to make the mortgage payment.
Tagged with: ForeclosureRead More »
DEAR BENNY: My wife and I are purchasing a two-bedroom condo. We are paying cash and intend to have her parents live there for a year, and then we will likely turn it into a rental. Our current single-family home ...Read More »
What exactly is PMI? Is it there only to safeguard the lender? Does the borrower who pays the premium get any coverage from PMI?Read More »
DEAR BENNY: My mom no longer wants the responsibility of homeownership. She no longer wants her 3,000-square-foot home and is willing to give it to me, as a gift, if I move in and care for her. If she transfers ...Read More »
My husband and I are separated, but we own a condo together. I live in the condo and have paid all the costs, mortgage, taxes, upkeep and homeowners association fees.Read More »
DEAR BENNY: A mortgage broker advised us several years ago to split our mortgage into a $400,000 mortgage and a $100,000 line of credit (we had $300,000 total available on the HELOC). A few months ago, we refinanced our $400,000 ...Read More »
Could you advise me of the appropriate and legal way to compensate the buyer’s agent we used for our unsuccessful house hunt?Read More »
If damage to an individual unit is from a common-area element and was caused by negligence, and the condo documents as I understand them state that the damage to the unit involved is the responsibility of the condominium owners association, should that not then be covered by the master policy?
Tagged with: InsuranceRead More »
DEAR BENNY: My neighbor on the Outer Banks of North Carolina listed his lot with bulkhead, pier and boat lift for $350,000 five years ago. Our local government approved a permit allowing a four-bedroom house to be built on the ...Read More »