Legal fight with Deutsche Bank offers glimpse into Trump's dealings International Herald Tribune, France - Dec 4, 2008 The suit and a parallel one by Deutsche Bank seeking the money provide a glimpse into both how Trump does business and into the way the real estate loan...DB
Real Estate Pain on Tap for Smaller Banks TheStreet.com - Dec 4, 2008 Commercial real estate delinquency rates are spiking hard for some smaller regional banks. Worsening commercial real estate loan quality is a rising trouble ...
At 92, Horton Foote's back on Broadway Los Angeles Times, CA - The Texas-born playwright's new work, 'Dividing the Estate,' marks his first return since the Pulitzer Prize-winning 'The Young Man From Atlanta' in 1997. ...
Darkness and Light at GE Capital New York Times, United States - Mr. Hofmann said he thought GE Capital?s estimate for losses on its real estate portfolio was too rosy. His forecast is for losses of $6.8 billion in the ...EPA:GNE - AMS:GNEA
Economy in turmoil and bailout plans adrift San Francisco Chronicle, USA - It's real estate values coming down not just in the United States but around the world, and a massive de-leveraging, not just in the United States but ...
Loan for Y site refinanced The Ann Arbor News - MLive.com, MI - First Ward Council Member Sandi Smith - a real estate broker and owner of Trillium Real Estate - did urge her colleagues to push ahead with planning for the ...
Keep in contact with your lender The Coloradoan, CO - Jul 6, 2008 This assurance will limit your ability to borrow until the primary borrower has had 12 to 18 months of excellent payment history on the loan. Any cosigning...
Student forges signature on loan Ventura County Star, CA - Jul 7, 2008 Do I have any right to go after Fannie Mae for not contacting me to make sure that I was really co-signing? What about the check? ...FNM
Loans can fill gaps in college financing St. Louis Post-Dispatch, United States - Jul 6, 2008 The College Board web site has general information about loans, as does FinAid.org. Keith Alliotts, cofounder of TuitionBids, said the site organizes ...
Paying for college doesn?t have to be a burden The State, SC - Jul 12, 2008 Many colleges are making the switch to government loans to guarantee that students will have access to funds. New Web tools for loans: Students in need of ...
On your way to college? There's plenty of news this summer Kansas City Star, MO - Jul 8, 2008 New Web tools for loans: Students in need of private loans have a growing list of resources at their fingertips. Greennote.com lets students borrow money ...
Clock's Ticking for Student Loan Applicants MainStreet, NY - Jul 28, 2008 In fact, a new survey by TuitionBids.com -- a Web site that says it will allow lenders to "compete" for your student-loan business -- says that 60% of ...STU
Source: Google News
[CITATION] Round the clock. SD BOYD - Nursing, 1998
[CITATION] WEALTH MATTERS| A D Conley - Race, Class, and Gender: An Anthology, 2001 - Wadsworth Publishing Company
[BOOK] Selfserv Credit: Credit Improvement Guide L Bennett - 2005 - books.google.com ... 53 SECURE CREDIT CARD REQUEST 55 COVER LETTER FOR LOAN REQUSET 56 COSIGNING A LOAN?
FACTS YOU SHOULD KNOW FIRST 57 DEBT FREE! IS IT POSSIBLE? 58 ...
The Aesthetic Aspects of Psychoanalysis - NM Szajnberg - Journal of the American Academy of Psychoanalysis, 1997 - PEP Web ... for the personal use of the subscriber to PEP Web and is ... her sister-in-law had applied
for bank loans and asked the patient to cosign; the patient felt ...
[BOOK] Being Black, Living in the Red: Race, Wealth, and Social Policy in America D Conley - 1999 - books.google.com ... With Samantha's parents cosigning?backed by the value of their ... them to amass enough
money to loan their children a down payment or to cosign a loan...
[PDF]Microlending in Germany - C Kreuz - bbr.bund.de ... 73-95, and from the web pages of each ... Ability to repay -Group loans -Presaving
-Colleteral substitutes -Co-signing... must be able to repay the loan and he must ...
Luciana Astiz Named New SRL Editor SSASN Secretary - Seismological Research Letters, 2006 - srl.geoscienceworld.org ... May cosign (with the chief executive officer or the ... Smithsonian Institution's
interactive Earth from Space Web site; and ... The goals for the loan program are to: ...
Source: Google Scholar
Pitfalls of co-signing on a real estate loan
By Bob Bruss
May 11, 2006
DEAR BOB: About five years ago, I co-signed a home mortgage for my niece so she could buy a condominium. All went well until about four months ago. She lost her job and refuses to take another job that doesn't pay as much. The result is she is now four months behind on her mortgage payments. Frankly, there is no way she can catch up, even if she does find her perfect "pie in the sky" job. However, I have a 723 FICO score, which I don't want to lose because good credit is important to me. Other than paying the missing mortgage payments, which now are about $14,000, how can I protect my good credit? --Fred G.
DEAR FRED: You can't. You probably now realize it was a major mistake to co-sign on your niece's mortgage. I'm sure you wanted to help her and you trusted her to make the monthly payments. But when she defaulted, it not only hurt her credit rating but it also hurt yours as a co-signer.
Your situation is a classic example why not to co-sign on a mortgage obligation.
Legally, you are liable for the missing mortgage payments. However, if there is sufficient equity in the condominium, the lender will probably foreclose and either be paid in full by a bidder at the foreclosure auction or receive title to resell the condo.
Chances of the lender suing you for a deficiency loss are not great, but it could happen. For more details, please consult a local real estate attorney.
DON'T WASTE YOUR INVESTMENT PROPERTY TAX LOSS
DEAR BOB: Is there any way to carryover Internal Revenue Service Schedule E losses to the next tax year? Why can't I defer expenses to offset future taxable income? --Claude R.
DEAR CLAUDE: If your IRS Schedule E tax loss is from operating your rental property, probably due mostly to the non-cash depreciation deduction, you can carryover "suspended" tax losses to future tax years.
Or you can use suspended tax losses to offset your capital gains profit when you sell your rental property. It sounds like you should consult a new tax adviser to be certain you are maximizing your real estate investment property tax benefits.
IF YOU DIDN'T INHERIT PROPERTY, NO STEPPED-UP BASIS FOR YOU
DEAR BOB: My late mother battled cancer for five or six years. Three years ago, she deeded her house to me to avoid probate and a possible claim by her ex-husband. She died about four months ago. I have decided to sell the house, but my tax adviser says that because I received a lifetime gift, I took over my mother's very low cost basis of $160,000. Today, the house is worth at least $550,000. Since I did not own and occupy the house as my primary residence, is there any way I can avoid capital gain tax on this profit of about $390,000? --Paula W.
DEAR PAULA: No. If you didn't inherit the property, you don't get a new "stepped-up basis" to market value on the date of the decedent's death. Because you received a pre-death gift deed to the house, as the donee you took over your donor's low adjusted-cost basis.
However, the current maximum federal capital gains tax rate is only 15 percent, plus any applicable state tax. Your tax adviser can provide full details.
The new Robert Bruss special report, "Pros and Cons of Fast and Slow House Flipping for Big Profits," is now available for $5 from Robert Bruss, 251 Park Road, Burlingame, CA 94010 or by credit card at 1-800-736-1736 or instant Internet delivery at www.BobBruss.com. Questions for this column are welcome at either address.
