Sometimes you may feel you no longer want to make your mortgage payments and just pay off your mortgage with other assets such as money in an IRA or 401(k) plan. But is it a good idea to pay off a mortgage with retirement money? If you're under 59 1/2, you'll have to pay extra taxes on the money that you withdraw from your IRA or 401(k).
RISMedia had an interesting item in its (www.rismedia.com/wp/2007-03-20/where-are-you-on-technology/) newsletter today. It talks about how a few years...
A home seller thinks the appraised value of her home is too high compared to other homes in her neighborhood. She needs the appraisal to be correct to determine the equity in her home because she is going through a divorce. She should have the home re-appraised by an appraiser who knows the market conditions in her neighborhood.
Companies that promise foreclosure homes being sold cheaply are often a scam. There are people who have made a lot of money finding folks who are on the brink of foreclosure, can't sell their properties and are looking for a way out. Buying a foreclosure home can be pricey and may not be as attractive as ads make them out to be.
I spent some time this week wandering through a maze of products at the 2007 Home & Housewares Show, at Chicago's McCormick Place. The show spanne...
How long you've owned property before you sell is a question that the IRS wants to know. It's primarily a tax question because how long you own your home relates specifically to how much tax you'll pay, if any, on the profits you earn when you sell. According to the IRS, if you own a home for less than a year and then you sell it, the profits are considered to be ordinary income. If you own the property for at least 12 months, you would pay capital gains tax at rates of up to 15 percent, plus state tax.
Investment property can be a profitable venture -- that is, unless the market changes dramatically and makes it difficult to sell. All real estate investors want to get their property sold without going bankrupt in the process. Selling your investment property in a down market might come down to savvy marketing.
A homeowner was approached by a developer interested in buying her home. It's important to know you'll need a real estate attorney to represent you if you decide to sell your home to a developer. The real estate attorney can handle negotiations with the developer on your behalf.
