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Buy A Home Using IRA Funds And IRA Penalties for Early Withdrawal Can Be Avoided

IRA penalties for early withdrawals can be avoided. You can withdraw up to $10,000 from an IRA without paying a penalty. But the withdrawal can't be for more than $10,000, there can be IRA penalties...

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Losing Earnest Money When An Appraisal Comes In Too Low

Losing Earnest Money When An Appraisal Comes In Too Low If you sign a contract to buy a home and the appraisal comes in too low, what should you do? Are you at risk of losing your earnest money or down...

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International Money Transfer May Not Be Subject to Gift Tax

International money transfer may not subject to gift tax. Gift tax does not apply to international money transfer. If you receive international money as a gift, the international money transfer may...

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How To Buy A House After Foreclosure

Q: My husband and I lost our home to foreclosure in October, 2007 after my husband lost his job. We really want to become homeowner’s again and were wondering about the benefits of signing up with one...

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Las Vegas Real Estate Market Conditions Good For Knowledgeable Buyer

Q: I have a retired cousin in Las Vegas, where as we all know, housing has declined 50 to 60 percent since the collapse began. I have observed many, many condos that can be purchased for a son, and are...

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Home Seller’s Guide For A Slow Real Estate Market

Q: My job is relocating out of Atlanta about a year from now. I have contacted three real estate firms in the Forsyth county area where we live, but they are not taking listing. I have no idea what the...

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How To Qualify For A Mortgage On A Fixed Income

Q: I am a retired 63 year-old with a combined income of $37,000 annually. My wife will begin collecting an additional $704 per month in Social Security starting this November. We both have excellent...

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Selling House At A Loss Might Have Benefits

Q: Can you please help me. I am 32 years old and earn $63,000 a year and invest 8 percent of my salary into my company’s 401(k) plan. I have $90,000 in cash in the bank. I also have a …Continue reading

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When Is PMI Required

Q: I just heard Ilyce on the radio talking to a listener about a house he was purchasing from his parents. She said that he would have to pay private mortgage insurance (PMI) if the appraisal came back...

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Larger or Smaller Down Payment on a Home Loan

What’s better a Larger or Smaller Down Payment when you are buying a home and get a home mortgage. The simple answer is that it depends. Q: If I buy a home and put down $30,000 and then wait until...

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Bad Appraisal Of Home Value Leads To Loss Of Earnest Money

Q: I entered into a contract recently, but the deal went bad because the house did not appraise for the negotiated price. We made an offer and the offer was accepted by the seller contingent on the...

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Real Estate Agent Should Return Down Payment Money

Q: We were buying a home in Michigan and gave the real estate agency earnest money for the home. We were second in line to buy it. Another buyer had made an offer to buy the home and if they didn’t...

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Seller Providing Down Payment Is Mortgage Fraud

Q: I have a couple who want to buy my house, but they have nothing to put down. Is there a way for me to help them with their down payment? I’d increase the selling price by 10 percent and they could...

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Ilyce Glink on WSB Radio – June 22, 2008

Today on the Ilyce Glink Show, we talked about Operation Malicious Mortgage, the FBI’s huge national takedown of mortgage fraud schemes. We also talked about how the FHA is going to renew attempts to...

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First Time Home Buying Difficult With No Down Payment

Q: A few years ago I bought your wonderful book “100 Questions Every First-Time Home Buyer Should Ask” and it’s the best book I’ve ever seen of its kind. I call it “the Bible of First-Timers” and have...

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Mortgage Applicants Choose Less Risky Loans

Perhaps homeowners are taking the advice of the mortgage industry and refinancing into more affordable loans. A light at the end of the tunnel if you will. It seems to me that this past spring the...

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What Happens In A Short Sale

Q: I signed a contract for an alleged “short sale.” The price of the house is listed online at $280,000. After accepting the seller’s asking price, I put down a down payment of $10,000 to show my...

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Earnest Money: Home Buyer Must Follow Home Contract

Q: My husband and I are building a house with a big new construction company. We put down $10,000 in earnest money when we signed the contract back in June. The contingency clause in the contract said...

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Expert Real Estate Tips: Down Payment Information

How much down payment is required to buy a home today and how does location and house price affect your down payment requirements? Learn what percent of the house price you will need as down payment...

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Ask Ilyce – March 9, 2004

Even though the stock market is headed up, everyone seems focused on buying and selling homes. Dear Ilyce: We are selling our first home and purchasing a brand new home. When we close on our sale, we...

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