The only way to defer paying capital gains taxes is to use the 1031 exchange and purchase new investment property using the proceeds of the sale of the old property. You cannot avoid paying taxes on your profits, unless you are using a 1031 tax free exchange. A tax-free exchange would allow you to swap two investment properties for another (or several others) that costs at least as much as the sales price of the two together.
Co-signing a mortgage loan my bring interest rates down for the borrower, but being a co-signer isn't without risks. Co-signing on a mortgage loan but not being on the title of the property is more of a risk than a benefit for the co-signer.
Here's something I didn't get to on the show. Did You Vote Your Pocketbook? Did you vote your pocketbook? The New York Times today took a look at ho...
There are a bunch of websites that claim to have access to Black Friday (day after Thanksgiving) ads. This is the official kick-off for the holiday sh...
On this week's show, Ilyce talks about how sellers and buyers should hire experienced real estate agents -- especially during a market slowdown. Not everyone agreed and one agent wanted some advice on how to get her foot in the door.
Selling your home may seem like the solution when you're underwater on your debt, but not every lender will do a short sale. A short sale will also result in the IRS considering the amount forgiven by the lender as phantom income -- meaning you could face a huge tax bill the following year for the difference in the short sale.
While anti-deficiency laws will protect a homeowner in some cases, the vast majority of Americans have recently obtained two mortgage loans in the purchase of homes, often referred to as a "piggy-back mortgage." If the first mortgage loan is foreclosed and the amount of the sale is enough to only pay off the first lender, the second lender will be entitled to sue the owner for the value of its loan. Many anti-deficiency laws won't protect the homeowner for amount owed on the second mortgage.
Changing careers isn't easy, but it is possible to break into a new job field if you follow the right steps. The first step in looking for a new job is to review your resume and make sure your skills translate into the job fiend you'd like to get into. There are also some great online networking sites that can help you connect
We'll talk tax help (the J.K. Lasser 2007 book I mentioned in yesterday's post), the Bankrate checking survey, Wal-Mart's announced early Christmas Pr...
