Can Your Bank Sell Your Mortgage & Change Its Terms?
Wednesday, 12 June 2013
Question: “I just got a notice that my home loan has been sold to some bank I’ve never heard of. Can they do this? And can they change any terms of my loan?” Answer: Yes, and no. Yes, banks have the legal right to sell your mortgage. And no, they cannot change any terms of
- Published in Q&A - Home Financing Questions
How to Sell & Avoid Paying Taxes on Your Gain
Tuesday, 11 June 2013
Question: “Hi Gary. My wife and I plan to sell our home and we’re pretty sure we’re exempt from paying taxes on our gain. How does that work?” Answer: In 1997, Congress gave you and me a particularly generous tax break. IRS Code Section 121 lets you sell your principal residence and exclude all your
- Published in FAQs, Q&A - Home Selling Questions
How Much Sooner Can You Pay Off Your Mortgage By Paying Extra?
Wednesday, 05 June 2013
Question: “I’d like to pay an extra $500/mo on my mortgage to pay it off sooner. How much sooner will that pay it off?” Answer: Congratulations. That’s a great idea and I’m glad to hear you can afford to do so. To answer your question, I’d have to know your loan balance, interest rate, when
- Published in Q&A - Home Financing Questions
Choosing Between Offers on Your San Diego Home
Tuesday, 04 June 2013
Question: “Hi Gary. I know you have a lot of experience. Suppose you have multiple offers on a home you’re selling. Other than price, what do you look for to decide which offer to accept?” Answer: Excellent question, because there is much more to an offer than price. I also look at: Any costs the
- Published in Q&A - Home Selling Questions
The One Loan Document You MUST Read
Wednesday, 29 May 2013
Question: “Hi Gary. The last time I got a loan, I didn’t read the papers because there was just too much to read. Are there certain documents in the big stack of papers you recommend I be sure to read?” Answer: You should read every single loan document you sign. But who really reads a
- Published in Q&A - Home Financing Questions
How to Fire a Realtor (Good Luck!)
Tuesday, 28 May 2013
Question: “Re: how to fire a realtor. Went online and got some vague answers. Wish to cancel my listing based on realtor’s breach of contract and lack of communication. Any advice???” Answer: Good luck. Listing contracts make it virtually impossible to fire an agent who isn’t performing. That’s why you don’t want to just use
- Published in Q&A - Home Selling Questions