Financing Investments
By now, many property owners have received their county/state property tax assessment. Read the notices and don’t be afraid to question the values reported by the assessor. Because many areas of the US real estate market have had DRASTIC price increases in the past year or two, you may be paying much more than needed. Keep […]
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When buying a property with a residential mortgage (loan), you may be bombarded with solicitations from various companies offering you “mortgage life insurance” that offers to pay-off your mortgage if you or your spouse dies. These policies are usually much more expensive than a term-life policy and decline in value over the term of your […]
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Recent guidelines for FHA loans will make getting a FHA-backed loan on a meth (methamphetamine) contaminated (or remediated) property virtually impossible. Since most new loans today for buyers are FHA loans, this will probably severely limit lending on any property that was once a “meth contaminated” property. The net effect will most likely mean a […]
Renovation loans are a great way to purchase a property that requires rehabilitation or renovation prior to occupancy. Buyer’s can use a renovation loan to update, rehabilitate or renovate a property. There are currently two types of loan programs: FHA and Fannie Mae. The FHA program requires: Current seller on title for 90 days For […]
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“No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment, if such property is exchanged solely for property of like-kind which is to be held either for productive use in a trade or business or for investment. ” IRS, IRC Section […]