Dianne Stow
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Real Estate Matters Ilyce Glink

Use cash wisely when arranging a mortgage
Q. I’m 54 and my wife is 52. We have approximately $200,000 in a 401(k) and $115,000 of equity in our home (valued at about $315,000).We’re trying to plan for our future and are thinking about selling our home and downsizing to a smaller mortgage with fewer home-related expenses.
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Property easements can cause obstacles between owners
Q. When I purchased my property in 1990, I found out there was an easement on the property allowing the neighbor to share a gravel driveway. The agreement provided that the other property owner was to share the cost of maintaining the driveway.

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Sell property owned by multiple family members

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The Credit Connection
Who’s better at managing credit — homeowners or renters?

According to a new survey, more than 81 percent of homeowners believe they manage their credit well. Only 65 percent of renters feel the same way. Not only that, but 54 percent of renters feel they’re carrying more debt than they should, compared to just 39 percent of homeowners.
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Picking the wrong list price can cost a home sale
This is a mistake you don’t want to make. Several months ago, I was approached by someone in my neighborhood who offered me the opportunity to buy his property before he listed it. If I didn’t buy it within three days, he was going to put the property on the market. He made the same offer to another neighbor.
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Buying a home at auction may come with costly repercussions
Q. We purchased a home at a Sheriff’s Auction. The property had been used as collateral for the owner’s business, which is now bankrupt. The court’s paperwork listed an endless number of debtors who had filed liens against the property. One of the listed creditors was the county treasurer.

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