President Bush signed H.R. 3648, The Mortgage Forgiveness Act of 2007, into law, sparing homeowners the tax burden associated with canceled mortgage debt.Prior to this action, forgiven mortgage debt due to foreclosure, short sale, or deed in lieu of foreclosure, was considered taxable income. The new law, however, temporarily waives these taxes for debts forgiven (as high as 35%) from the Continue Reading
The Top Ten Reasons Why It’s A Great Time To Buy Real Estate!
1. Selection, selection, selection! There are over 50,000 resale homes on the market. Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There’s a great selection of single-family detached Continue Reading
Energy-Saving Home Improvements Tax Credit
If you replaced your home's drafty windows last year with new, energy-efficient panes, make sure you file the long Form 1040, along with Form 5695, to get the corresponding tax credit. That's just one way to take advantage of the energy-efficient home improvement provisions included in the energy bill that took effect Jan. 1, 2006.Simple upgrades, such as the new windows or added insulation, offer Continue Reading
20 Money Saving Tips
Your 5-minute guide to budgeting'Budget' is not a four-letter word, but many people avoid it like one. These 20 tips can help you face up to your finances and achieve your monetary goals.By MSN Money staffBudgeting isn't a punishment for not being born wealthy.It's an avenue to know where your money goes and help you reach your financial goals, whether it's a new home, a comfortable retirement or Continue Reading
10 Tips for Keeping New Year’s Resolutions
The best way to stick with your resolution is to plan ahead.Chances are, at some time in your life, you've made a New Year's Resolution -- and then broken it. This year, stop the cycle of resolving to make change, but then not following through. If your resolution is to take better care of yourself and get your inflammatory bowel disease (IBD) under control, you'll have a much better year if your Continue Reading
A buyers market….
If you are going to sell your present home, the market conditions will play a crucial role in determining the asking price. Market conditions change constantly, so it is important that you get solid advice from a professional who is familiar with your specific area.A good real estate agent will know how houses in your area are selling, as well as the other factors that may influence the sale. Continue Reading
How Your FICO Score is Calculated
How your FICO score is calculatedCredit scores give lenders a fast, objective measurement of your credit risk. Before the use of scoring, the credit granting process could be slow, inconsistent and unfairly biased. Types of Credit in Use: 10%--Considers the number of credit accounts and the mix of credit types: credit cards, installment loans, mortgages. This is most important if you don't have Continue Reading
Mortgage Insurance News
The U.S. House of Representatives voted this week making mortgage insurance premiums tax deductible for all mortgages originated for the next three years. The Senate passed this legislation last week by unanimous consent. Mortgage insurance first became tax deductible in 2007.Eligible homeowners with adjusted gross incomes of $100,000 or less can deduct the full cost of their mortgage insurance Continue Reading
5 low-cost things you can do to go greener at home
It is Easy to Be Green5 low-cost things you can do to go greener at home By Dena KouremetisFluorescent light bulbs not only last longer but are more environmentally and economically sound. When that certain lovable Muppet Kermit the Frog sang “It isn’t Easy Being Green” so long ago, chances are pretty good that he wasn’t referring to how easy it is to help the environment.Helping the world go Continue Reading
Real Estate Resolutions
As we come upon the last of 2007, instead of the typical New Years resolutions, why not think in terms of real estate resolutions. Here are just a few ideas:Get and stay on a budget. Budgeting is something we should all be doing. Not only should you budget for present expenses, you should budget for your future. Set a goal to put aside a certain amount for a down payment on a real estate Continue Reading
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