Are you a disabled veteran, the unremarried surviving spouse of a deceased disabled veteran, or part of a household with income and assets below certain poverty guidelines? If so, you might be eligible for financial relief. You may not have …
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Do Your Homework Before Buying a Home
The real estate market is really hot right now. I know a number of people who have sold their home the day it was listed. In certain price ranges, it is not uncommon for sellers to get multiple offers above …
Where is Your Title Insurance Policy?
Last week we discussed the documents that you should make sure you keep after buying your home, or any real estate. One of those documents is your title insurance policy. This document is probably the one real estate document that …
Do Your Have All Your Real Estate Documents?
When you bought your home, there was a cascade of paper that you thought would never end. It seemed like you were signing for hours. When you were done, you were given a legal size envelope filled with a stack …
Check State Laws Before Changing State Residency in Second Marriages
If you change your state of residency without doing your homework, you may have unintended consequences if you have remarried. You may be like many Michigan seniors who have entered into a second (or third or more) marriage. Many widows …
Pay Taxes Later on the Sale of Your Real Estate
It’s a seller’s market out there now for real estate. I know of a number of sellers who have received multiple offers on their real estate. For most people, when you sell your home, you will not have to pay …
You Thought Your Trust-Owned Home Was Insured
When you signed your trust, you felt pretty good about having it done. You felt even better when you deeded your home into your trust. You breathed a sigh of relief because your trust now owns your home and you …
FHA Reverse Mortgage Rules Change
It is reported that almost every reverse mortgage that is in an amount under the Federal Housing Administration (FHA) limit ($679,650 in 2018), is a federally insured Home Equity Conversion Mortgage (HECM). Because of this, we will be limiting our …
Quit Claim Deeds Rarely the Best Choice
I had a client in this week for her annual review of her fully-funded trust-based estate plan. She asked me about other types of planning by acquaintances about which she has become aware, and the issues that may arise as …
9 Situations in Which Your Mortgage Lender Cannot Call Your Loan
Last week, we discussed how most all mortgage loans nowadays, including home equity loans and lines of credit, have due-on-transfer clauses, which are also call due-on-sale clauses. If ownership of the property transfers from the borrower to someone else by …