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Chicago Mortgages

A collection of news and information related to Chicago Mortgages published by this site and its partners.

Top Chicago Mortgages Articles

Displaying items 45-55
  • Heir of income property wants to minimize tax liability

    By Ilyce Glink and Samuel J. Tamkin Q: I recently inherited a rental property. The property is rented and cash flow is positive, despite the fact that there is a mortgage on the property. Currently, I do not need the income that the property is...
  • When refinancing, always shop around

    By Ilyce Glink and Samuel J. Tamkin Q: I recently talked to Chase and Quicken Loans, and Quicken came back and said I could lower my monthly payment by $100 and go from a 5.75 percent to a 4.5 percent interest rate. The payment is only $100 cheaper a...
  • Baby boomers' dilemma: Indulge now or save for later

    By Ilyce Glink and Samuel J. Tamkin Q: I have a $138,000 mortgage at 3.75 percent on a 15-year term with 10 years left to pay. The property is appraised at $300,000. I have $130,000 cash reserve. My wife wants to put in a pool in at a cost of about $100,...
  • Sticking with variable-rate mortgage might not be so bad

    By Ilyce Glink and Samuel J. Tamkin Q: I owe more on my mortgage than what my house is worth. And, unfortunately, my loan isn't owned by Freddie Mac or Fannie Mae, and it is an adjustable rate. What are my options to refinance my loan into a fixed...
  • Lack of comps hindering homeowner's ability to refinance

    Q: I built my home in 2006 for $750,000. I have a loan with a balance of about $525,000 and an interest rate of 6.625 percent. I have been trying to refinance my mortgage for the past three years but cannot find anyone willing to loan me money. I have...
  • Lender not necessarily at fault when borrower misses low interest rate

    By Ilyce Glink and Samuel J. Tamkin Q: We started working with a loan officer at a bank because he was recommended by our real estate agent and also participates in a program with my employer to help get employees lower interest rates and low closing...
  • Despite signs of a seller's market, it's still a great time to buy real estate

    Home buyers and real estate investors have been in a good mood for years, since around 2007, when the housing crisis began. And why not? Historic low interest rates and home values that have dropped off anywhere from 30 to 60 percent are a potent...
  • Investors continue to buy up single family houses: Will this end well?

    By Ilyce Glink and Samuel J. Tamkin Mortgage interest rates ticked down again this week. But home buyers have already been spooked. They're worried that they can't afford to buy a home. And, in some cases, like when they're competing against hedge...
  • Is a condo right for a retired buyer?

    By Ilyce Glink and Samuel J. Tamkin Q: I just read your column in today's paper responding to a question about whether to buy a home at age 66 or continue renting. I was surprised you didn't make two observations. First, your correspondent wants to...
  • Mortgage restriction on renting out property not likely to be enforced

    By Ilyce Glink and Samuel J. Tamkin Q: I have a question about renting a second home that has a mortgage that states "you cannot rent this property." Here's the story. About two years ago I bought a beautiful cabin in Blue Ridge, Ga., that was a...
  • 80 years old and underwater

    By Ilyce Glink and Samuel J. Tamkin Q: We live in Clayton County, Georgia, where the housing market is still not good. Our home was worth $200,000 in 1999 now it is worth $51,000. We still owe $101,000 on a first mortgage and $19,000 on a second...