Shopping for a car loan can be an intimidating process for any consumer. But, when your credit history includes a bankruptcy filing, the prospect of getting approved at a reasonable interest rate for the car you want can seem impossible. According to a recent CBS Money Watch article, however, you should not be discouraged. The article quotes Phil Reed, senior consumer advice editor for auto authority website Edmunds.com who says, "The most important thing to know is that you do have options." … [Read more...]
5 Ways to Avoid Mortgage Approval Delays
April 6, 2015 by
If you have taken the first step of getting pre-approved for a mortgage before you started house hunting, you may be surprised to learn that you still have to go through the loan approval process. According to Zillow, confusing pre-approval with actual approval is one of the top 5 mistakes homebuyers make. Doing so can cause delays in securing a mortgage in time to close the deal on your dream home. Zillow advises, “Be sure you ask to get ‘underwriting approved’ and obtain a formal loan … [Read more...]
Report: IRS Ignores 60 Percent of Taxpayer Calls
April 2, 2015 by
The IRS is living up to predictions earlier this year that 2015 would be the worst tax season in a decade. With the tax deadline just two weeks away, IRS Commissioner John Koskinen admitted yesterday that the agency is ignoring 60 percent of calls from taxpayers. Koskinen says the IRS simply is not staffed to handle the volume of calls. Severe budget cuts have also impacted the agency’s compliance division. Koskinen says the government stands to miss out on $2 billion in money they would … [Read more...]
Mortgage-Free Homes for Delinquent Borrowers?
April 1, 2015 by
Thousands of underwater borrowers in states like Florida, New Jersey and New York may get to stay in their homes without ever making another mortgage payment. Despite failing to make a single mortgage payment in five years, these homeowners may benefit from their lenders’ failure to foreclose in a timely manner. According to an article published this week in The New York Times, “lenders may never be able to seize the homes because the state statutes of limitations have been exceeded.” Part of … [Read more...]
4 Questions You Should Ask Before Hiring a Real Estate Agent
March 31, 2015 by
If you are a first-time homebuyer looking to hire a real estate agent for the first time, it is important to choose wisely. According to the Chicago Tribune, a real estate agent can “make or break” your home search efforts. But, how do you go about deciding whether a real estate agent is a good fit? Asking four essential interview questions will help you determine if you will be in good hands with a particular agent. One obvious question that may get overlooked is, “Who do you represent?” In … [Read more...]
9 Pros & Cons of Buying Before You Sell
March 30, 2015 by
It’s a question realtors hear often from homeowners looking to make a change to a different home. Should I buy before I sell? A new Trulia blog helps answer the question with 9 pros and cons homeowners should consider before making a decision either way. One pro of buying before you sell is that you eliminate the possibility that you will have to move twice in the event that you cannot find your new dream home before you have to move out of your sold home. The expense and hassle of moving from a … [Read more...]
RadioShack to Auction Customer Info in Bankruptcy Deal
March 27, 2015 by
Bankruptcy has pushed RadioShack to a surprising new low in the minds of some of its loyal customers. The trusted brand reportedly has plans to auction the personal information of more than 117 million customers. According to CBS New York, the highest bidder will gain access to customer names, addresses, phone numbers and other details on purchases. The auction contradicts RadioShack’s privacy policy, which states the company will never “sell or rent your personally identifiable information to … [Read more...]
5 Tips to Help You Avoid a Real Estate Scam
March 26, 2015 by
Everyone wants to get a good deal when they are in the market to buy or lease a property. But if a deal sounds too good to be true, it could very well be a real estate scam. So how do you differentiate between a bargain and a scam? U.S. News & World Report offers five helpful tips that could save you from signing a deal you will regret down the road. One obvious, but often overlooked, tip is to vet the people you are working with. The article details a scam in Monroe County, NY where 14 … [Read more...]
Shrink Your Tax Bill with These Smart Home Deductions
March 25, 2015 by
If you purchased or refinanced a home in 2014 and plan to itemize your deductions this year there are 12 smart home deductions that may be able to shrink your tax bill. A new Trulia article offers a convenient break down of each deduction. While most homeowners are aware they can deduct mortgage interest and paid property tax from their tax bill, many new homebuyers may not know they can also deduct origination fees on their loan–even if they were paid by the seller. Homeowners who refinanced … [Read more...]
Chicago Home Sales Post First Positive Gain in 8 Months
March 24, 2015 by
February was a good month for existing home sales in Chicago. According to the Chicago Tribune, existing home sales in the city increased 3.9 percent last month, which is the first monthly year-over-year gain since June 2014. In addition to the boost in sales, home prices were also up in February. The median price for homes sold last month was $212,000—a 20 percent increase over the $174,990 median price one year ago. Chicago’s improved numbers last month are significantly higher than the … [Read more...]
