$3 billion more down the drain
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$3 billion more down the drain
President Obama’s Emergency Homeowner Loan Program is about to shovel $3 billion more at foreclosures. One part of the plan, announced Wednesday, includes a new $1 billion program that will offer loans to unemployed borrowers at risk of losing their homes. The loans, which will be dispersed through nonprofit and housing agencies, will carry 0% interest and be good for a maximum of $50,000 for up to two years. The administration also added $2 billion in support for its program that helps struggling homeowners in the states with highest unemployment rates.
The... continue reading >>
Obama's budget in a nutshell
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Obama's budget in a nutshell
President Obama's proposed 2011 budget calls on Congress to make a number of tax changes for individuals. These include: Letting tax cuts expire - the 2001 and 2003 Bush tax cuts are scheduled to expire by 2011 - the 33% bracket would become 36% and the 35% bracket would rise to 39.6%. The long-term capital gains tax rate would increase to 20%, up from 15%; limit itemized deductions - to cap at 28% the rate at which high-income households can itemize their deductions. Currently the value of a deduction is equal to the deductible amount... continue reading >>
What’s Better – REO or Bank Auction? & Updated REO LIst!
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What’s Better – REO or Bank Auction? & Updated REO LIst!
Big nationwide auctions have recently made headlines but what is actually better for the average short sale investor…REO or bank auctions? Let’s take a few minutes to examine the pros and cons for each.
Title – Purchasing a property via auction frequently entails a commitment to all outstanding debts including unexpected liens and other judgments in addition to those for which the auction is taking place. By purchasing a bank owned property you will typically have assurance of clear title or at least a complete awareness of other fees... continue reading >>
Five Reasons to Invest in Real Estate Now
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Five Reasons to Invest in Real Estate Now
Despite the constant doom and gloom reports surrounding real estate, there are actually plenty of good reasons remaining to invest in real estate. In fact, not all the news is nearly as dreary as one might expect but it isn’t found on the common media outlets.
1. High Net Worth Investors are Bullish on Real Estate! A recent survey of over 2,000 high net worth investors found that more than half are actively purchasing real estate or planning to do so within the next two years. Over 1 of every 4 agreed... continue reading >>
Buy Investment Property in Gardena CA & Surrounding Cities
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Make It To The Top By Buying A Gardena Investment Property
You’ll find that what happens between several businesses and real estate investors with low cost homes is a great business. This is when investors buy cheap properties from owners who offer a Gardena investment property to other investors. Then comes the time when the home is rented to a renter, or sold again to another investor and this generates a return on their investment.
Seek out low cost properties when you are interested in purchasing low cost homes for your investment. The most simple investment you can find are... continue reading >>
TAX BENIFITS
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Try to Top These Tax Benefits!
There are many reasons to invest in real estate but undoubtedly, one of the most important is the undeniable tax benefits. From depreciation to deductions, just try to find another source of income able to top these tax benefits!
1. Passive Loss Deductions. High income individuals will be delighted by the ability to offset gains in other areas by taking passive loss deductions from real estate. All expenses associated with real estate investments qualify including management fees, taxes, insurance, repairs, homeowner association dues, legal and accounting fees and even small office expenses. Just... continue reading >>
Bair says consumers did not understand subprime mortgages
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Bair says consumers did not understand subprime mortgages
Sheila Bair, the chairman of the Federal Deposit Insurance Corp. (FDIC) has said there is “ample evidence that consumers did not understand the consequences of the subprime and nontraditional mortgages that were sold to them.” In a speech to the National Association of Business Economics, Bair has called for greater consumer protection in financial services and said the information flow among the different market participants should significantly improve. “Economists understand a great deal about the effects of asymmetric information, and how it can prevent markets from existing in the first place... continue reading >>