As a homeowner, you usually get your tax savings or refund after you file your tax return in the following year. You are able to deduct what you spent on loan interest and property taxes. Some of us look forward to that big refund check, but some of us need the extra money during the […]
Investing in savings accounts today will earn you back less than one percent on your money and you will be required to pay income tax on those earnings. But if you contribute something extra to your mortgage each month, you will earn savings in a more beneficial way. Paying additional principal payments on your home […]
There are times when the things we don’t do cost us more than the things we do. If you had a certificate of deposit that you put money into and it was earning 2 percent when you had a chance to take advantage of an 8 percent earnings, the difference between these percentages cost you […]
A short story about an offer presented to a single, senior woman who was relocating to a retirement home: The offer was for full price and had reasonable terms and timelines. The seller would not accept it. As the offering agent delved deeper into why, the agent discovered the seller was upset about her dining […]
Remember your mom saying, “Due unto others as you would have them do unto you?” This rule applies in your search for a home. Being a courteous and sympathetic buyer might be the difference in getting the home you want. People who are familiar with business, like the owner of a store, have expectations when […]
Before deciding if you should purchase a home with cash, think about whether you may have to put a mortgage on the home in the future. Mortgage interest on homes can only be deducted if it is an acquisition debt or an equity debt. If you decide after buying a home to add a mortgage […]
Over the last year about 94 percent of home buyers bought a home using a fixed-rate mortgage, taking advantage of the lowest rates in history. However, some of these buyers will be paying more in interest than they need to based on how long they will own their home. If you only plan to be […]
Interest rates are now lower than they have been in more than 40 years. That said, it might be hard for you to think about your “window of opportunity” being closed. However, reports coming out now state that it will cost more to buy a home at the end of this year. One of the […]
It’s April and once again tax time is upon us. As a tax payer, you are allowed two options for deductions; standard or itemized. Interested tax payers will compare each method to see which one is more advantageous. Some tax programs like Taxcut and TurboTax® make the comparison for you and suggest the best outcome. […]
We all remember what happened in late 2007 and early 2008 with the real estate market. The bottom dropped out of it and sent our economy into turmoil helped by bad lending practices across several mortgage companies. As a result, the Dodd Frank Reform Act was enacted to help protect the home buyer from predatory […]
