If you want to pay off a debt held by a collection agency, there are certain things you should know. Depending on how the collection agency will report the payment, your credit report, credit history and credit score may be affected differently. It's important that you know how the collection agency will report your payment. While paying off the debt held by the collection agency is easy, you should understand the impact it will have on your credit.
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.
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.
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.
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.
The internal revenue service reminds taxpayers that they may qualify for the special sales tax deduction on cars, light trucks, motor home or motorcycles, if the vehicle is purchased before Jan. 1, 2010.Taxpayers may qualify for this deduction under the American Recovery & Reinvestment Act of 2009 (ARRA) with the deduction limited to the sales and excise taxes and similar fees paid on up to $49,500 of the purchase price of a new vehicle.
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.
It's finally October, and the "How to Profit from Foreclosure" event is just around the corner. This exciting event on October 24 in Atlanta will brin...
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.
