By Sharon Roberts, editor
Published: June 14,2013
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, 13 percent home mortgage-holders in the Charlotte-Gastonia-Rock Hill area owed more money than the homes [...]
By Tony Brown, Staff Writer
Published: June 14,2013
CHARLOTTE – A $30.15 million loan on a property in Concord leads the list of distressed commercial real estate loans in the Charlotte market. According to the May monthly report from Trepp, a national commercial real estate lending and bank analytics firm, the Wal-Mart-anchored Concord Commons shopping center, is the most “seriously delinquent” commercial mortgage-backed [...]
By Benny Kass
Published: May 21,2013
DEAR BENNY: I recently got engaged and have plans to have my new fiancé move into my house. I am currently the sole owner of the home. We have a wedding date scheduled for over two years from now. He makes much more money than I do and has a greater tax liability. Would it [...]
By Benny Kass
Published: May 15,2013
A RESPONSE FROM A READER: In your answer to the question about using the home equity line to pay off the balance of the person’s mortgage, I have something to add. You were very right about the dangers of a variable rate loan, but you neglected to mention two other factors which have to be [...]
By Benny Kass
Published: April 23,2013
DEAR BENNY: In a recent article about deeds-in-lieu of foreclosure, you didn’t discuss what happens to second mortgages or other claims on title. Are they automatically assumed by the bank? – Tracy DEAR TRACY: You are absolutely correct that I should have discussed the role of second mortgages when a homeowner gives the deed [...]
By Jim Woodard
Published: April 18,2013
Applications for interest-only home mortgages are on the rise. They are especially popular with investors or “flipper” buyers who hold title for a very brief time, or buyers who have trouble qualifying for a conventional mortgage. An “interest only” mortgage is one for which the scheduled monthly mortgage payment consists of interest only. The option [...]
By Amy Stevens
Published: April 18,2013
For builders and developers who don’t consider the Equal Credit Opportunity Act before signing on the dotted line with a lender, North Carolina lawyers have some advice: Start considering it, as ignorance can be costly.
By Scott Baughman
Published: March 29,2013
The hottest seasons for vacation home sales are spring and summer. You may now be planning such a purchase, but be aware of the challenge you may face when shopping for a mortgage loan. Many vacation-home buyers are finding tougher underwriting requirements and other obstacles when seeking a financing loan, tougher than loans to finance primary-residence homes.
By Benny Kass
Published: February 19,2013
I will be soon paying off, in its entirety, the mortgage on my home. For your information, I have been current on my payments throughout the 10-year term. The mortgage company is a credit union, and I intend to continue residing in my home. Upon full and complete payment of all that is due on my part, is the mortgage company obliged to record a release of the mortgage (deed of trust) in the land registry of the county or execute a promissory note release? What can/should I expect from the mortgage company in proof of the full and complete payoff?
By Malcolm Berko
Published: October 18,2012
We sold our home in 2007 and took back a five-year, $48,000 balloon second mortgage at 8.5 percent. It's now due, so we have $48,000 to invest in dividend stocks.
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