Housing / Real Estate Questions

Taxes on homeowners insurance money?

My house burned down in 2021. The insurance company paid out 200,000.00. I gave my son 50,000 for him to..

Revocable Trust

How do I go about letting the county recorder know that I put my paid off home in a revocable..

Revocable Trust — changing title of home

How do I go about changing the title of my house that is in my name to my trust?

Equity in home used for gift of home to daughter

Hi Terry My husband and I owe less than $140k on our home which is now valued wayyyy over our..

Financing a home addition

What is the smartest way to pay for a home addition? Thank you

1099 on sale of home

Dear Terry I sold my house in 2021. Should I expect a 1099 from someone? Thank you

Should I rent or buy?

Hi, Terry – I have learned more from you on WGN radio in the last 2 years than I knew..

Home equity loan Vs 15 year Refinancing

Hi Terry- I currently have about a 20 year home mortgage at a 4.00% fixed rate on my house. I’m..

Financing a remodel on a vacation home in a different state

Terry, We have a lake house in Wisconsin (we live in Illinois) and it needs some remodeling. We have about..

Loan to your only son — Will You Foreclose?

My husband is retired and I am close. A portion of our portfolio is in a money market earning .4..

Reverse Mortgage — Don’t Look Back!

Parents have a RM however when taken out they failed to put in heirs in case of their demise only..

Right time to purchase investment property

Right time to purchase investment property or wait for a correction. With interest rate hikes coming, were do you see..

40l K withdrawal — costly?

We withdrew from our 401k accounts to purchase our condo free and clear of a mortgage. We are both over..

Mortgage payoff?

Hi Terry, My mother recently passed away and I received a lump sum of money. I am looking for advice..

Financial Suggestion

Is this a good time to invest in real estate (fix up a home and put it on the market)?

1st Time Home Buyer

Hi Terry, Our son, aged 31, wants to get out of his apartment and buy his first home. How does..

Pre-approved mortgage

Should I go get pre-approved before January 1 if I plan to buy a condo in 2022? Will it lock..

Home ownership

Sister-in-law and ex- are both on title of their Indiana home. Only he is on the mortgage. They have been..

retired but want to buy a rental property

We sold our business and are now retired. We have our money in stocks right now but were thinking of..

Buy a second home.

Hi like to a buy a second home. I have no mortgage payment on my first home. I like a..

money

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