When giving real estate as a gift, it is always good to know the IRS tax laws that come with it. If everything isn't declared properly, it could lead to tax ramifications down the line. If this happens, the gift could be far more trouble than it's worth.
A quit claim deed transfers ownership of a house over to a specific person or group of people. If you feel that someone has filed a quit claim deed for illicit purposes, it is best to contact a lawyer to see what your options are.
If you missed the home buyer tax credit 2010 deadlines, you may not have missed out on much. Since home buyer interest has plummeted by around half, sellers, states, and real estate companies are offering cash incentives in order to generate new interest in the real estate market. Now, home buyers around the country can reap all the benefits of the home buyer tax credit, and have the advantages of lower real estate prices. Read on to find out more about the great deals in real estate.
If stuck in a situation where you have a mortgage on a real estate property that is worth less than the mortgage, it can be very difficult to figure out a way to pay back the lender. Your best option is to contact a real estate attorney about your mortgage and have him or her advise you on your next move. Managing underwater real estate and mortgages such as these can be very difficult, and you have to be prepared for the possibility that you may take a financial loss.
What happens when you sell your house or pay the mortgage off early? It depends on the conditions of the contract with your lender. Setting up an amortization table can help you better plan out your mortgage payments and help you better manage your real estate. Hiring an attorney can also be a good idea if you want to make better sense of your finances.
Do you want to remodel your kitchen? If so, there are a couple key things you need to know before you get started. These four steps can make the difference between the kitchen of your dreams, and the kitchen of your nightmares. Read on to find out more.
A reader asks about converting a 401(k) into a Roth IRA. Can you offset the income taxes owed with the carry-over losses from a real estate property? Ilyce Glink answers this personal finance question about 401(k)s and Roth IRAs.
Ilyce Glink Show Notes - June 27, 2010 - Kellogg Cereal Recalls Select Boxes Of AppleJacks, Corn Pops, Honey Smacks, and Froot Loops; Mortgage Rates Fall to Record Low Levels, Level Not Seen Since 1956; Existing Home Sales and New Home Sales Plummet. The Equifax Personal Finance Blog has great content this week. Visit Ilyce's blog for more show notes and helpful links.
Ilyce Glink Show Notes - June 27, 2010 - Kellogg Cereal Recalls Select Boxes Of AppleJacks, Corn Pops, Honey Smacks, and Froot Loops; Mortgage Rates Fall to Record Low Levels, Level Not Seen Since 1956; Existing Home Sales and New Home Sales Plummet. The Equifax Personal Finance Blog has great content this week. Hire Ilyce to speak at your next event. Free books available at the ThinkGlink.com bookstore. See below for details and for information on our Buy 3 Get 1 FREE EBOOK deal.
Flood Insurance may be required by your lender. Check the fine print of your mortgage to find out how much flood insurance you are required to buy. Some flood areas have been redesignated and you may be required to buy more flood insurance now. Consult a real estate attorney to help you understand the fine print in your mortgage contract and to determine how much required flood insurance you have to buy.
