IRS Announces 2010 Standard Mileage Rates. The IRS issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The standard mileage rates are optional.
With only a few of the thousands that have applied for loan modifications under the Obama Making Home Affordable Plan, some borrowers have become skeptical that lenders truly want to modify loans. Some borrowers believe that lenders are willing to take government money and run without approving loan modifications. Why can't lenders move faster on these loan modifications? Why are so few loan modifications approved under the Making Home Affordable Plan?
When is a good time to buy land? If you own land now and your neighbor offers you his or her property, would you buy it? If you have a choice between buying land and putting your money into any other investment, would it be wise to put more money into real estate? A reader has some of these questions in mind when he asks whether he should buy neighboring property that is available to him.
The real estate market is still in crisis. FHA reserves are falling and the FHA needs for determine how to handle its loan portfolio and future loans. With the continuing high unemployment rate, more homeowners are at risk of losing their homes. With more homes going into foreclosure, FHA stands to lose more money. What will FHA do to in the ever changing real estate market?
Interest rates are at an all time low. This might be a great time to refinance a loan. If your loan is coming due soon or it is due to adjusts in the coming months, you might consider refinancing that loan. However, just because it's a great time to refinance, you might have other difficulties in trying to refinance your loan. One of those problems might be the value of your home. If the value of your home has declined, you might be unable to refinance.
If you have a low balance left on your loan, you may find that the costs of refinancing the loan may be too high to justify refinancing.
If you find that documents you signed have been altered, you may be the victim of mortgage fraud. Check over all of the documents you signed and make sure the information is accurate. You should check your documents before you sign them and make sure you get copies of the documents you signed. If you suspect you are a victim of mortgage fraud, you should find a real estate attorney to help you.
Refinancing? Mortgage Interest Rates At New All Time Low. Freddie Mac reported today that mortgage interest rates fell again and hit a new all-time low. Should you refinance? And what should you do if you already locked in your new mortgage interest rate? Should you break the interest rate lock? What about float-down options?
Today on the Clark Howard Show, Ilyce Glink is filling in as she discusses the latest economic news and shares personal finance, real estate and consumer advice. The Administration ups pressure on banks to help homeowners with loan modifications; Bank of America clearly spells out credit card terms; home sales rise to highest level in 2.5 years; are you in loan modification hell? Here's how to find the CEO of your mortgage lender. Listen to the podcast here or download from iTunes. For more show notes and helpful links, read Ilyce's blog
Clark Howard Show Notes - November 30, 2009; Administration ups pressure on banks to help homeowners with loan modifications; Bank of America clearly spells out credit card terms; home sales rise to highest level in 2.5 years; are you in loan modification hell? Here's how to find the CEO of your mortgage lender, and a link to the kind of letter you should write; New ThinkGlink Ebooks on INVESTING IN REAL ESTATE; FREE BOOKS and EBOOKS; low speed tax credit information;
Ilyce Glink Show Notes - November 29, 2009. Are you in loan modification hell? Treasury is supposed to begin pressuring lenders to do more loan modifications. 50 Simple Steps You Can Take To Disaster-Proof Your Finances. FREE BOOKS; EBOOK DEALS; Join me on Clark Howard tomorrow, 1-4p ET.
