DEAR BENNY: I am hoping you can clarify debt relief as it applies to rental property. My sister has a single-family residence that she rents out and is now letting the house follow the path to foreclosure. She received info ...Read More »
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A new Homeowner's Bill of Rights, SB 321, aims to eliminate the runaround some homeowners got from banks by requiring lenders to assign homeowners a single person to contact. It bans dual-tracking, in which a bank pursues a foreclosure at the same time a homeowner is working on a short sale. And it eliminates "arm's length" rules, in which banks barred people from buying distressed properties from their relatives or other close associates.Read More »
CHARLOTTE – The percentage of Charlotte-region homeowners carrying negative equity on the homes is decreasing more quickly than nationally, according to a report by CoreLogic, a residential property information services provider. At the end of the first quarter of 2013, ...Read More »
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.
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