Real Estate Content Index - Page 7

**Refinancing An Interest Only Loan** If you have an interest only loan, it may be a good time to refinance the mortgage loan. You will owe the same amount today on your Interest only loan as you will in ten years. On an interest only loan you never pay down the principal balance. If the interest on your loan is high, you should consider refinancing the interest only loan. If you plan to live in a home a short period of time, refinancing an interest only loan may not be right for you.

**More Reasons Why Your House Won't Sell** If you are getting the showings, but your house won't sell, what should you do. Make sure that you understand the listing price of your home and that it is competitive with other homes. Make sure that the condition of your home is in as good a shape as possible. While you can't change the location of the home, location, location, location is still the norm in real estate and you should understand how that affects your home. Finally, make sure you understand the market when it comes to the commission you are paying your broker and how much of that commission will be paid to the agent that brings a buyer to buy your home. If you don't understand each of these issues, you have added more reasons to why your house won't sell.

**$8,000 First Time Home Buyer Tax Credit and Nonresident Aliens** The $8,000 first time home buyer tax credit is quite popular these days and everybody that might qualify for it wants to qualify for it. But there are strict rules relating to who can qualify for the $8,000 first time home buyer tax credit. If you are a nonresident alien you do not qualify for the tax credit. But if you buy a home with someone who does qualify for the $8,000 first time home buyer tax credit, the nonresident alien won't get the benefit but the other person should get the benefit of the tax credit.

**S Corporation vs LLC: Tax Consequences For S Corp and LLC** More and more real estate investors are using LLCs to hold their properties. Some still prefer using S corporations but most accountants today recommend that their clients use LLCs or limited liability companies.

**Mortgage Problems Can Lead To HELOC Foreclosure** Many borrowers have two loans on their property: one loan is with a first lender and the second loan is with a home equity line of credit lender (HELOC). In some cases the loan may not be a HELOC, but rather a second loan. In any case, if you are having mortgage problems or mortgage troubles and stop paying either the first lender or the HELOC lender, you might be in big trouble and going down the road to foreclosure. Foreclosure is one option lenders have, but you might be able to negotiate a solution before foreclosure.

Senior's Home Equity may be at risk from reverse mortgage lending abusers, according to a report from the National Consumer Law Center. Reverse mortgages are being used by abusers of the subprime mortgage market as “tools” to profit from seniors. The National Consumer Law Center thinks that if protections aren’t put in place soon, not only will the life savings of senior citizens become depleted, but so will our tax dollars and economy. Read the full story on reverse mortgage abuse below from the National Consumer Law Center.

Taylor Bean & Whitaker Update: October 7, 2009 -- For Taylor Bean & Whitaker customers who have been having trouble with their escrow payments and a program called Equity Accelerator we have an update on how to handle your payments with Taylor Bean & Whitaker. Below we have tips from the Georgia Department of Banking and Finance on how to cancel Equity Accelerator and handle your escrow payments with Taylor Bean & Whitaker.

Faulty Smoke Detectors - How to Get The Smoke Detector to Stop Beeping: Why does it always happen at 1:45 a.m. on a night where you went to bed early and were trying to get a solid night's sleep. Smoke detectors need batteries every year, but they the unit itself goes bad every 3 to 5 years. Ours is 5 years, 10 months old.

Ilyce Glink Show Notes - October 4, 2009; Atlanta Flood update; September job cuts and unemployment rate rises; Moving to Montana; Section 8 real estate investing; how to find an estate attorney; HUD-certified housing counselors and Net Present Value (NPV) calculations and why people can't get loan modifications; FREE BOOKS and EBOOK DISCOUNT DEAL; Taylor Bean Whitaker