The Great Recession included a banking crisis and in turn mortgage products were streamlined and others were taken off the table. With the return of the economy, previously unavailable mortgage products are now being offered. One of those products is called the “Piggyback” or the 80-10-10 mortgage and it can save you a lot of […]
All posts by Thierry Roche
Estate Planning – Don’t put it off!
You need estate planning! In the event of your death or incapacitation, these documents will be used by your executor(s) to make decisions for you. Your surviving spouse, adult children, minor children, property and your investments will all be factors for decision making and will only benefit if you get it done. Will – used […]
Tax Benefits of Home Ownership
In 1913, the 16th amendment introduced personal income tax and U.S. taxpayers have enjoyed specific tax benefits for home ownership. These tax benefits may not be the reason why most people buy a home, but they are real and are not available to people who rent. Changes made to the capital gains tax code in […]
Teaser Rates are Not Available for All Buyers
Lenders and Mortgage companies will often publish “teaser” rates to draw buyers but these rates are not always available to all buyers. Let’s review a sample situation. Suppose a monthly loan payment for an advertised rate convinced you to make an offer on a home for sale. And then after you negotiated and signed a […]
Reasons to buy into the rental market
Some characteristics to owning a single-family home are not available through standard investment types. Single-family homes give an investor the opportunity to borrow large loan-to-value amounts with fixed rates for long terms on assets that keep appreciating. They also offer tax advantages and a reasonable amount of control. On most residential units up to four […]
What would you give to own a home?
Yogi Berra said he’d give his right arm to be ambidextrous. Most first-time home buyers would not do something so extreme to own a home but they are willing to make sacrifices. According to the National Association of REALTORS® 2016 Profile of Home Buyers and Sellers: 43% – cut spending nonessential items or luxury items […]
Relatives and Mortgage Loans – The Facts
Don’t lose your ability to deduct mortgage interest from your taxes by not properly handling the mortgage loan paperwork when taking money from a relative to buy a home. Especially if you might become their heir. Home mortgage interest can only be deducted if the loan you accept is a secured debt and you sign […]
Proof you made the purchase
When you experience a loss of property, your insurance company will ask you for the proof of purchase which can take two forms; a purchase receipt or a current home inventory of your personal belongings. Even if you are a highly organized homeowner, you might find it challenging to locate receipts for all the valuables […]
Older Baby Boomers Are Staying Put
In the past homeowners had a natural progression in owning homes. They would begin homeownership with a starter home, move onto a dream home to raise a family, then downsize upon becoming empty nesters and finally moving into a retirement home to finish out their years. But recently, Marianne Cusato’s 2016 Aging-in-Place report indicated that […]