Mortgage Loans from Relatives
Posted by Jennie Temple on Feb 20, 2017 in Blog | 0 comments
Occasionally, when dealing with close relatives who might also become heirs, signing a note and handling the paperwork properly may seem like a needless effort but it could mean the difference in being able to take a legitimate interest deduction. Home mortgage interest is deductible only if the loan is a secured debt...
Down Payment: FOUND!
Posted by Jennie Temple on Nov 14, 2016 in Blog | 0 comments
Down Payment: FOUND! Saving the down payment may be unnecessarily keeping would-be buyers from getting into a home. They may be unaware that the funds might be available. The NAR Profile of Home Buyers and Sellers reports that 81% of first-time buyers got all or part of their down payment from savings. Less than 4% said that...
Time May Be Running Out!
Posted by Jennie Temple on Jan 9, 2016 in Blog | 0 comments
Time May Be Running Out During the Great Recession, some homeowners elected to rent their home rather than sell it for less than it was worth. IRS tax code allows for a temporary rental of a principal residence without losing the exclusion of capital gain based on some specific time limits. During the five year period...
