A buyer asks whether he can cancel a short sale purchase. He doesn’t want to lose his cash in escrow if he cancels the short sale. He needs to check the details of his contract before canceling the short sale. To find out how to cancel a short sale he should contact a real estate attorney.  

A reader asks who legally owns a home on the day of closing. The party who possesses the home on the day of closing varies depending on where you live. If a seller stays in a home beyond the day of closing, the buyer should charge the seller substantial rent to assure the buyer that the seller will move out in a timely manner. It’s important to be clear on possession at closing.  

An elderly couple asks about managing credit card debt. Ilyce suggests getting credit counseling from a non-profit organization. During a credit counseling session, they can receive coaching on how to manage their debt. Depending on the debt load, credit counseling can help you learn how to pay off your debt.  

A woman going through divorce says her name is not on the house deed. She’s asking for divorce advice for women. One important point of divorce advice for women is seeing a divorce attorney. A divorce attorney provides advice for women going through a divorce.  

If you rent your home you should have renter’s insurance. Less than half of renters have renter’s insurance according to Allstate. Why is renter’s insurance important? What does renter’s insurance cover? Good renter’s insurance will help you replace your belongings in case of a disaster. Learn how to document your property for renter’s insurance.  

A woman writing on behalf of her sister asks what release form states a supplier or builder has completed his work, received payments and releases any interest in the property. The form she wants is a lien waiver. If her sister was working with a builder, it’s the builder’s job to obtain the lien waivers. Make sure to get lien waivers signed before making payments.  

As of yesterday night, she had $9.20 cash, 6 frozen bananas and 4 popsicles…she had already re-invested $1 to buy 20 bananas….

Today, I took her to buy the doll stroller she wanted…first they showed her one for $3.50 (as opposed to the $6 she had budgeted)…then the saleslady…

$7.20, actually, as she used $1 to buy a new batch of bananas…

She needs to buy more chocolate, too, and wants to buy flavoring to make strawberry milk popsicles…(in case her friends get tired of chocolate!)

…so, yesterday she was confronted with a tough decision: the doll…

A home owner asks how long the loss mitigation process takes. Ilyce advises to be in constant contact with your lender during loss mitigation. The loss mitigation process may be able to help you save your home.  

yoo-hoo! I got a loan from the bank that handles our payroll at the office…10.5% annual interest (special rate, the average rate “in the market” is 11-13%)…I consolidated a loan I had at 11.5% and the Evil Card cc (which charges 28.99% annual interest!!)…
It’s still NOT official,…