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Trusted Answers From Licensed Business Professionals

Lending Money To Family And Cutting Out the Bank

Banks are still only offering clients a whopping 0.50% per year and only 0.91% for the most generous savings accounts. Clients in search of a home equity loan may be hard pressed to find an interest rate below 6%. Many families are noting this spread and taking the middleman (i.e. bank) out of the equation. The financial benefit with this approach does come with certain risks. Read More.

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The February 2012 existing home sale figures indicate that 34% of the homes sold were at deep discounts (20% due to foreclosures and 14% due to short sales). Homeowners that are currently underwater need to be aware of the tax break that is scheduled to expire at the end of 2012. Read More.

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Overlooked Tax Benefits For Refinancing Your Mortgage


Rates for a 30-year mortgage remain near record lows at ~4%. As a result, many homeowners that have refinanced their homes have benefited from lower monthly interest payments. However, many still seem to overlook key tax deductions associated with it. .
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The December 2011 home sale numbers indicated that 13% of the 4.61 million homes sold were part of a short sale (19% were in foreclosure). These sales have potentially significant consequences to the homeowner's credit score and they often have questions about the tax impact too. .
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Is It Ever Smart To Take Out A Home Equity Loan?


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If you can qualify for a home equity loan, it’s certainly worth considering. One of the big stumbling blocks these days is that almost one-quarter of homeowners are underwater – meaning they owe more on their home than it's worth. Even if you aren't underwater, a financial institution is likely to require you to have a minimum amount of equity in your home before they'll consider giving you a home equity loan. Lenders also look at your credit history and income when determining whether to make the loan. .
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New Law Could Push Mortgage Rates Higher

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Just like debit card fees are rising, mortgage rates are also likely on the rise. Regulators are trying to meet an April deadline to finalize the new mortgage requirements that could be devastating to not only lenders but also borrowers. Read More.

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Should I Refinance My Mortgage?

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Many homeowners these days are confronted with the big question – do I refinance now since rates are at all-time lows or hold off? While rates are low, the answer to this question really depends on the specific financial position of the mortgage holder as our financial experts explain. Read More.

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Getting Accurate Mortgage Closing Cost Estimates


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There seems to be no shortage of mortgage applicants learning that the initial closing cost estimate provided by the lender was inaccurate. For those that don't know, anytime you purchase a home with a mortgage you must pay settlement costs (i.e. fees for loan origination, attorneys, underwriting, title changes, inspection, insurance & more). Unfortunately, the estimate provided by the lender after you applied for the loan can be significantly different from the the actual cost at closing. So, what can you do to get a better estimate? .
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Getting out of a Mortgage with your Now Ex

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At this point, you probably realize that the yelling & screaming at your now ex girlfriend or boyfriend didn’t get you very far when it comes to handling your mortgage. Now, you want to get your name removed from the mortgage. But, unfortunately there is only one option to remove your name from the mortgage & the deed, other than foreclosure & bankruptcy. So what is it? Read More.

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Selecting the Right Debt to Payoff

We frequently hear that it is wise to pay off debt as soon as possible. Unfortunately, sometimes we act on that statement before asking ourselves these important questions. Read More.

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