I offered full price — $168,000 — for a home in foreclosure. The bank came back with a refusal and a new sales price of $240,000. That is $72,000 over the asking price. Is this legal?
Tagged with: ForeclosureRead More »
Your answer last month to CC in Vancouver, Wash., about taking $9,000 from his annuity for income confuses me. His adviser said that if he took more than 6 percent of his initial $112,000 investment, or $6,720, his annuity value would be reduced by the difference between the $9,000 he would take and the $6,720 he was allowed to take, or $2,820.
Tagged with: annuitiesRead More »
We recently purchased a house that was built in the 1950s. Since moving in we found out that the house has had settling issues and had work done to shore up the foundation a few years back. There are numerous cracks in the interior plaster walls (ceiling, above doors and windows, closets), some of which have been filled in and painted over, others that are open.
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In the summer of 2009, I had $5,000 to invest in my individual retirement account, and my broker recommended I buy 500 shares of Rackspace US Inc. at $9, and I'm glad I did. The company is in San Antonio, and my husband and I have a friend working there who tells us how enthusiastic he is about this company.
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The housing market is getting healthier. The number of foreclosed and real estate-owned properties on the market is diminishing, thus pushing home prices up to more realistic levels. The foreclosure inventory has been falling as requirements from the national mortgage settlement "influence the pace of first-time foreclosure starts," Lender Processing Services stated in a recent report.
Tagged with: Economic recoveryRead More »
I live in a home that my mother and I financed jointly. I have been on the note and deed for about 10 years and have always made the payments and lived there. Our verbal agreement was that after two or three years she would give me the house because she wanted to go into a facility with people her age. She often forgets that the house is in both of our names. The last two years she was living in the home we agreed to sell it a number of times, but she would refuse to sign the final documents. I also tried to buy her out with the same result.
Tagged with: RefinanceRead More »
HSBC Holdings PLC was fined $1.92 billion recently for helping terrorist nations launder trillions of dollars, and its stock actually appreciated after the announcement. The increase in stock price certainly impressed me. So do you think 200 shares of HSBC would be a good long-term investment?
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DEAR BENNY: What are your thoughts on placing residential rental properties into a charitable remainder trust to be able to collect the rents and have the income offset by the charitable donation write-offs over the years allowed and sell the properties at a later date to avoid capital gains? Would you know what the requirements are as to how much must be retained in this type trust for the charity? Are there pitfalls to be aware of placing property into a CRT? —Jame
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I'm 41 and divorced with two children. And, thanks to my super dad, I've had a great job for 11 years, with excellent benefits and a very good retirement plan. I have an individual retirement account worth $109,000, consisting only of stocks you have recommended in the past eight years. I got a good bonus this year, and my dad, who retired from Kimberly-Clark, recommends I buy 100 shares of that corporation. What do you think?
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My husband and I have owned our home since 1973. At the time we purchased the home, there was an existing fence between our neighbor's house and ours that we had assumed was on the property line. Our current neighbors moved into their house in 2000. They recently had a "topographic survey" of their property performed for a proposed landscaping project. The survey shows that the fence is not on the property line, but that it extends in the range of approximately 2 to 4 feet at various points onto their side of the property line.
Tagged with: fenceRead More »