Housing / Real Estate Questions

Capital gains on a home sale

If I own my home outright and sell it for $400,000, my understanding the first 250,000 profit is ok. What..

Equity Loans within Trusts

I am the Trustee of my late Mother’s Trust. The Trust owns a condominium. I may need to access the..

Selling Home to Cash Company

Hello, I want to sell my home and move to a smaller house. I feel scared and not qualified to..

Mortgage

I own the mortgage on my daughter’s home. How do I report her interest payments to me? How can she..

Mortgage payoff

My son is down to a five-figure mortgage and is thinking of just paying it off. What would you recommend?..

2 HECMs

My spouse and I file joint but are separated, living next door to each other. Can each of us qualify..

First time home purchase at 63 years old

I just purchased a condo for $250,000. I want to put down $20,000 from my saving account. Would it be..

97yr old mother’smother’s property taxes

My second question about my mother is, she lives in Montgomery county Pennsylvania and I pay her property taxes. At..

Foreclosure

Terry, my husband died I tried several way to get the home put in my name but I couldn’t. I..

Buyout from a home

My friend bought me out of our home we owned. With that money I bought my own home. Will I..

Mortgage after owner’s death

Terry my mother passed away June 15,, we own a two flat that was paid off but she took out..

Real Estate Purchase, down payment question

Buying a condo, have the dollars to put up to 30% down. But wondering if it makes more sense to..

Step Up to parents house

A couple years ago we recorded a QCD from my mom to my mom , me and my 2 sisters...

First time home

My boyfriend and I are looking to buy our first home at 50 years old. I stay home with our..

Cash for house

Dear Terry, you have always answered my questions in the past, but not this time. Maybe it didn’t go through?..

Rental and Home Mortgage Payoffs

We own an apartment building in which we have $200,000 equity after paying off the loan. We also have a..

HOME TRANSFER

I’m 82 yr old widower. Good health. I’d Like to sell my single home to my son for one dollar..

Paying off mortgage vs. investing money

Good Morning Terry, We are both 65 years old and recently inherited some money. We are wondering if we should..

Reverse mortgage

Is a reverse mortgage safe and I need about 60,000 for a roof. I have money on the side that..

Options to avoid capital gains from 2nd home

My husband worked a few years in Colorado and moved back to Illinois where we have a townhome. We continue..

money

ASK TERRY

a personal
finance question