From J. Scott Souders, attorney: If for any reason you wish to review a law update for a case that has previously been cited, law updates for the past year are on my website, Scottsouders.com . Enclosed herewith for your review are brief summaries of new cases. 1. Homeowner’s Insurance Does Not Generally Cover Tenants Who Are Injured on the Property In the case of … [Read more...] about Legal: Are you up to date with your property insurance?
Hope you are doing well today! Occasionally it is great to send out an article related to real estate that explains one of the tax benefits. In this case it is the investor, who really can be anyone who has a rental property, or is thinking of buying one. The 1031 exchange has been used for years to avoid paying taxes on the sale of real estate. The the article below … [Read more...] about Investor Business – 1031
THURSDAY, March 7th, 6:30-8:30 PM REGISTER NOW! (free but seating limited to 18) Please use the form at the bottom of this post or email email@example.com or call 714-801-5810 with name, number attending, phone number and best contact e-mail address. Your Home is the Safest & Fastest Path to Financial Security - Wealth Building - Retirement Solutions The … [Read more...] about The Financial Workshop Returns!
From J. Scott Souders, attorney: 1. If You Pay Extra Money For A View Is It Protectable? I have received many phone calls over the years from homeowners who want to sue their neighbors or the City or their HOA because they have “lost their view” due to construction on a neighboring lot or the neighbor’s trees have grown like weeds. … [Read more...] about Legal: Is Your View Home Protectable?
We’re officially in the midst of tax season (if you haven’t done yours already, consider this your reminder!), which magnifies the amount of borrowers we encounter who owe back taxes to the IRS. Owed taxes that aren’t paid can result in tax liens, which take superior position to mortgage liens – an item of great concern for lenders. While Tax Liens will always need to be … [Read more...] about Fannie Mae Guidance on Federal Income Tax Repayment Plans
A very strange move after many years, related to 1st time buyer programs with the state of CA. Formerly, until a few days ago, the down payment and closing cost assistance programs with CalHFA were pretty restrictive regarding the maximum amount of income a family could make and still use the programs. On average, in OC that seemed to be in the $75,000 to $85,000 range … [Read more...] about 1st time buyers – new CalHFA income limits – wow!
(this has been around for awhile) Purchase transactions can be made difficult when the borrower retains or plans to sell their departing residence, but will not be rented or sold prior to closing. For this reason, Fannie Mae provides an opportunity to omit the liability from the vacated property, as outlined below: If the borrower's current principal residence is … [Read more...] about DID YOU KNOW? Fannie Mae Pending Sale Option
Happy Friday! Wednesday, November 29th, the Federal Housing Finance Agency (FHFA) announced updated county loan limits for 2018. Fannie Mae and Freddie Mac employ the FHFA established loan limits, and recognized the newly increased limits (applicable to both Conforming and High Balance loan amounts) as shown below: Conforming Loan Limit: 1-Unit: $453,100 2-Unit: … [Read more...] about County Loan Limits Increased for 2018!
Happy Saturday! YES, Why Buy Real Estate? When you talk with a client and attempt to encourage them to buy real estate, whether it is their first home or a second home or an investment property what can you say that is convincing? When talking to a clerk, your auto mechanic, hairstylist, acquaintance or friend, what can you say or do that will captivate their attention or … [Read more...] about Why Buy Real Estate?