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What happens when you walk away from your mortgage?

What happens when you walk away from your mortgage?

If you have ever found yourself struggling to pay the mortgage or know someone who has, the question of “What would actually happen if I just stopped paying my mortgage?” probably has come across your mind. While walking away from a mortgage should be avoided at all costs, there are a growing number of homeowners […]

1 Million Foreclosures Delayed Until 2012?

I’d love to stick my head in the sand on this, but the reality is that the negatives of this move can’t be ignored. Rather than pulling off the band-aid quickly, delaying foreclosures is just prolonging the pain. Looking more and more like the last three years are going to be the new “normal” for […]

Top Ten tax tips for home sellers (from the IRS)

Top Ten tax tips for home sellers (from the IRS)

Courtesy of the friendly neighborhood tax collecting organization we all love (you love the IRS right?), comes the top ten most important issues for any home seller to consider. While most of these probably won’t apply to a majority of you, they fairly helpful nonetheless. via Inman News

Fannie and Freddie to be phased out?

Already bailed out with public funds to the tune of $134 billion, mortgage giants Fannie Mae and Freddie Mac might soon be facing some major changes. Today, the White House unveiled a proposal, which spells out a plan to gradually “wind down” Fannie and Freddie until they are completely phased out. But while the news that the […]

Minimizing tax burdens via 1031 Exchange

In this market of tight budgets and shrinking profit margins, minimizing your expenses when selling a property is essential.  Upon closing a real estate sale, any unsheltered capital gains will be subject to significant taxation, which can take a bite out of your profits. One way for a real estate investor to avoid this problem is […]

$8,000 first-time homebuyer credit

Ever since the “American Recovery and Reinvestment Act of 2009 (aka The Stimulus Bill) was passed in February, many homebuyers have been trying to figure out what this means for them. Sure an $8,000 tax credit is great, but how do you get and how do you qualify?

Great lending news!

It appears that Fannie Mae has decided that it is going to cut real estate investors a break. Word is hitting the street that the current cap on Fannie Mae backed loans will be removed for credit worthy real estate investors beginning March 1, 2009. The new cap will jump all the way up to […]

Investing your savings

Since your house isn’t your biggest investment and you are using this mentality as a springboard to get out of the endless cycle of dumping your money into the bank’s coffers, there is one big question looming in your mind: “What do you do with this new found money you have saved?” The short answer… […]

Responsibly managing your home

So if your house isn’t your “biggest investment,” what is a person to? You have to live somewhere. That’s an important question, but there is no easy answer. If the solution had to be narrowed down to one thing it would be “responsible money management.”

New property tax deduction for homeowners

When you own an investment property, you can easily claim your property taxes as a business expense. With your personal residence, however, the rules are a bit different. If you itemize your federal deductions you can claim your actual property tax amount. On the other hand, if you use the standard deduction, you can not […]

‘Tis the season to be taxed

Now that the giving season of the holidays is over it’s time for another kind of giving season: giving to the IRS. With 2009 here it’s time to start thinking about taxes. Your 2008 tax returns aren’t due until April 15, 2009, but  it never hurts to get an early start.

Bailout goes local with Pulaski

It seems like Pulaski Bank couldn’t resist the call of all that bailout money. The Post Dispatch is reporting that they will receive an infusion of $32.5 million fromt he government in exchange of like amount of stock. Reports say that the bank is well capitalized, but they want the money to be able to […]

Housing prices continue to fall

You’d think that the sky was falling. Here’s the bad news of the day on housing: Meanwhile, the Standard & Poor’s/Case-Shiller national home price index released Tuesday tumbled a record 16.6 percent during the quarter from the same period a year ago. Prices are at levels not seen since the first quarter of 2004. This […]