Talk with your lender immediately. The lender may be able to arrange a repayment plan or the temporary reduction or suspension of your payment, particularly if your income has dropped substantially or expenses have shot up beyond your control. You also may be able to refinance the debt or extend the term of your mortgage …
Expert Insights: If Faced With Foreclosure, What Are My Options? Read More »
According to the National Association of the Remodeling Industry, a well-written contract should contain the following information: The contractor’s name, address, telephone and license number, if applicable Details about what will and will not be done A detailed list of materials for the project, including model, brand name and color The approximate start date and …
They are an appealing way to enter the housing market if the cost of a single-family home is out of your reach. Condos are especially popular among single home buyers, empty nesters, and first-time buyers in high-priced housing markets. Unlike a house, condos offer a lifestyle that is free of yard work and exterior maintenance …
Opinions vary about which professional to call first. Some say the architect comes first because “you have to design it before you can build it.” The architect, who is trained to resolve problems creatively, can help define the project in ways that provide meaningful guidance for the design. The architect can also do site studies, …
If you sell your home and realize a taxable gain even after the exclusion, you can reduce your gain with selling costs. Your gain is defined as your home’s selling price, minus deductible closing costs, minus your basis. The basis is the original purchase price of the home, plus improvements, less any depreciation. Real estate …
Expert Insights: Are Home-Selling Costs Deductible? Read More »
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