Property Taxes May Be Deducted From Federal Income Tax Bill
When you own a home you can deduct property taxes and your mortgage interest from your federal income taxes. If you're a real estate investor and own multiple properties, you're limited as to the number of properties that you can deduct mortgage interest for. But you can continue to deduct property or real estate taxes. See what the IRS guidance says about deducting property taxes.
Consult Divorce Attorney When Selling House
If your spouse takes all of your joint money and leaves you how can you support yourself? You may find that you need to sell your home. But if the home is jointly owned both owners have to agree to sell it. What if your spouse won't agree to sell your home? You need to consult a divorce attorney to help force the spouse to agree to sell the home. A spouse who steals from the other spouse is no longer interested in being in the relationship and so divorce may be the path to pursue.
Home Buying Requires Down Payment, Perhaps From Tax Credit
During the housing bubble it was possible to buy a home for nothing down. Today, you have to have a down payment. But where can you get a down payment to buy a home? Fannie Mae and Freddie Mac have said that the biggest obstacle to home buying is a cash down payment. But that down payment ensures you have "skin in the game" and are more likely to take your home buying seriously. To get a down payment you'll either need to save the cash or, if you live in a state that offers down payment assistance through a second mortgage to be repaid by the federal tax credit, you can try that route.
Hire Real Estate Agent For New Construction Home Buying
When you're buying a new construction home you may not think of hiring a real estate agent to help you. But working with an experienced real estate agent makes sense even for new construction. Can you add an agent to the process after you've started your home buying? In a down economy a developer may be more willing to let you include a real estate agent even after you've started the new construction home buying process. If the developer doesn't bend to let you include a real estate agent, you can think about looking for another home.
How To Sell A Timeshare
You may have bought a timeshare with the intention of using it every year when you take your vacation. But what if you can no longer afford your timeshare? Can you sell a timeshare? What's the best way to sell a timeshare? Should you sell a timeshare on your own or with the help of the timeshare company?
How To Buy An Easement
When you own property and there's an easement next to it you may decide you want to one day buy the easement. But how can you buy an easement? To buy an easement, a good place to start is to figure out who owns the easement. You'll likely negotiate differently depending who owns the easement, whether it's an individual or a company. You also need to consider the purpose of the easement, before you try to buy it.
Georgia Joins The Ranks of States Offering Homebuyer Tax Credits
Fourteen states are now offering tax credits for homebuyers or first-time homebuyers. Georgia is the latest state to offer a homebuyer tax credit. It is available to anyone, regardless if you have owned a home before.
Senate Passes HOPE for Homeowners
Washington, D.C. is abuzz with the flurry of legislative activity today. President Obama announced the new CAFE standards for automobiles (35 miles pe...
Summary of the new HOPE for Homeowners Bill Amendment
This is the summary of Senate Bill 896, the Helping Families Save Their Homes Act of 2009. This bill, which passed the Senate, makes some crucial amendments to the original HOPE for Homeowners Program, including reducing excessive fee levels, providing greater incentives for mortgage services to engage in loan modifications, and make loan underwriting burdens more consistent with standard FHA practices. The big news is that the new levels of FDIC and the Federal Credit Union insurance (to $250,000 per depositor per bank) would be extended through 2013.