In order to be able to take a capital gains tax exclusion when you sell your home, you have to have lived there at least two out of the last five years. This primary residence definition is critical to taking the tax exclusion when you sell. You cannot exclude capital gains from the sale of a vacation or second home.
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Real estate fraud often results in problems with credit reports - even if the person was a victim of fraud. In some cases, the home owner benefits from the mortgage lender's attempt at real estate fraud, so the fraud may ruin her credit and credit report. Ilyce describes the problems real estate fraud can cause to a person's credit report.
If you're worried about identity theft, there are ways you can protect yourself. And if you know the signs, you can stop identity theft sooner. One of the best ways to protect your identity is to order your credit report annually from annualcreditreport.com.
Identity Theft can happen any number of ways. Some crooks get information by calling unsuspecting consumers at home. To cut down on your risk of telephone identity theft, sign up for the government's Do Not Call list at donotcall.gov.
One way to reduce your risk of identity theft is to pay close attention to privacy policies. Some "opt out" policies offer consumers ways to remove or withhold personal information from databases. Opting out improves the chances that your identity will not be stolen.
You may think wacky scams are urban legends or the stuff of fiction. Be aware that some crazy-sounding scams are real, are working, and result in people becoming victims of identity theft.
Secrecy is another warning sign of possible identity theft. When someone asks you to keep a deal a secret it may be a sign that it's a scam. To prevent identity theft steer clear of secretive schemes.
Crooks and scam artists who commit identity theft use some common phrases, also known as "Scam Speak." If you know what to listen for you can avoid getting ripped off, even if the scam speak is top notch.
Work-at-home schemes are costly -- to the victim. These schemes often promise fast, easy money for little work. Instead of working from home and earning money, your identity is stolen after you provide personal details to the scam artist.
