America’s credit card debt is back and at levels we saw prior to the recent recession. According to CreditCards.com Weekly Credit Card Report, APR’s are running just under 16 percent. But homeowners have an advantage that renters do not when it comes to dealing with high debt. Debt advisors will tell you that you need […]
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 […]
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 […]
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 […]
During the housing market bust that happened around 2007, some existing homeowners opted to rent out their main residence instead of selling it for less money. Interestingly, the IRS tax code will allow the temporary rental of a principal residence without the homeowner losing the exclusion of their capital gain with some time limit restrictions. […]
The other day someone called a radio talk show and had a situation that troubled the caller and is also disturbing to listeners because of the potential tax liability and steps that can be taken to avoid it. The elderly father of the caller had switched his deed on his home to his daughter a […]
Most American believe that they will have a car payment and a house payment for the rest of their lives. But if you get a plan and a little discipline you don’t have to be in that majority. You plan should be to make additional principal contributions to your fixed-rate mortgage which will shorten the […]
The American Dream includes the chance to own your own home. It is the place where you can raise a family, be with friends, feel safe and enjoy your life. It is easy to realize all the benefits but just as real is the regular maintenance that occurs when owning a home. I’m not trying […]
Keeping a home dust-free takes a serious commitment and a strategy of housekeeping that addresses dust and what causes it to multiply. You may be motivated by having a clean home or by removing allergens to lessen the suffering of a family member. No matter your motivation the process will be worth it. Aim to […]
Over the last several years during the real estate recession, some homeowners who couldn’t sell their home decided to rent it instead. You may be one of these people. Now that the real estate market has turned around in most areas, that same home may now sell and bring a higher price. With all forecasts […]
