It used to be that you could apply for a mortgage for an investment property if you owned up to 10 properties. Fannie Mae and Freddie Mac have restricted their lending rules for investment properties so you can now only have four investment properties and get a mortgage. Learn why the rules changed for financing and refinancing investment property mortgages.
The IRS recently announced it has a new publication written specifically for people who were victims of Hurricanes Katrina, Rita and Wilma. The IRS publication goes over all of the new tax laws that were passed in the wake of the devastating hurricane season. The IRS can help you get your questions answered if you are a hurricane victim.
The Obama stimulus package made some changes to IRS tax rules concerning real estate, home improvements, short sales and foreclosures. If you're a first time home buyer, you're eligible for an $8,000 tax credit, depending on when you bought your home. In addition, the timing of your home purchase affects whether you have to repay the home tax credit. IRS allows you to continue to take tax deductions for green home improvements and if you had a short sale or foreclosure recently, the money you lost won't be considered income thus saving you tax.
A wife asks her husband to sign a quit claim deed to sign over their home to her since they are getting a divorce. The husband intends to let her live there and he will keep making mortgage payments, but should he sign this quit claim deed? Signing the quit claim deed will cause him to lose leverage in the divorce and any rights to the home. He'll still be liable for the mortgage however.
When you're negotiating compensation for you job you should approach it from a position of equals. When women negotiate they often treat their employers as parental figures and use inappropriate negotiating tactics. Learn how to successfully negotiate adequate compensation for your job.
Renting a rent to own home may seem like a good option if you lack money for a down payment. But what happens if you don't end up buying the rent to own home? Does the landlord get to keep all the rent you've paid toward the rent to own home until that point? Yes. It's up to the landlord to apply the rent as a down payment if and when you buy the rent to own home.
If you give money to a landlord to hold a rental house for you, you risk losing that money, especially if you didn't sign any documentation. The landlord is under no obligation to return the deposit put down on the house, even if there was a verbal agreement that the money was only to hold the house. To get the money back you may need to contact a real estate attorney.
When you're renting a home you may be affected if your landlord can't pay the mortgage, even if you've paid the rent. What can tenants do when the landlord breaks an agreement to apply the security deposit to the last month's rent? In this case, the landlord threatened to file an eviction notice to have the tenants move out before the end of their lease term. But the processing of the eviction notice will likely take longer than the lease term. The tenants can look at their local landlord tenant laws to see what recourse they have and could have also researched the foreclosure on the Web.
A lender changes the interest rate on the closing documents for his mortgage loan. The borrower should have caught this mistake before signing the closing documents on the loan. The borrower may be able to go back to the lender and show the mistake or file a complaint with a regulator.
Lenders don't like to refinance a property that was just on the real estate market. They may worry that the home owner will try to sell the home again after the mortgage refinancing. Lenders prefer to refinance homes that are primary residences, as it can be expensive to underwrite and process mortgage loans. How long the home has to have been off the market will vary with the lender you're contacting for refinancing.
