June 2007
Monthly Archive
30 Jun 2007 02:34 am
Credit history proven to be a good predictor of job success
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Payment history is an important factor both in terms of your credit score and as a deciding factor for lenders and others who check your credit. Lenders may be less likely to lend to you or may charge you a higher rate based on your payment history and in most states, auto insurance rates are determined largely by your credit score. Poor payment history can also affect your ability to get a job because employers usually look at your credit report, rather than your credit score. When they look at consumer reports (background checks) to build a picture of you, credit history has proven to be a good predictor of job success. |
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search for : credit score
29 Jun 2007 06:58 am
Hybrid ARMs under the mircoscope.
| Subprime lenders have yet to learn from their mistakes. According to a consumer advocate group, abuses persist industry wide, despite the recent subprime mortgage meltdown. At a Senate subcommittee hearing on ending mortgage abuse this week, the Center for Responsible Lending (CRL) presented its findings on subprime loans included in 10 recent packages of mortgage backed securities. More than three quarters of the subprime loans CRL looked at turned out to be adjustable rate mortgages (ARMs). 90 percent of those were hybrid ARMs - otherwise known as “exploding” ARMs. |
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search for : Subprime lenders, subprime loan, hybrid ARM
28 Jun 2007 06:15 am
Now You Can gift real estate, save on taxes
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Inman News discusses gifting a home. Gifting a house to a child requires filing of a federal gift tax return. However, no gift tax will be due if the total lifetime gifts exceeding the annual $12,000 per gift per donee exemption are not more than $1 million. When you die, the value of your gift will be subtracted from your federal estate tax exemption, which is currently $2 million if you die in 2006. As a donee, your child will take over the adjusted cost basis for the house. If the child lives in the home as a principal residence at least 24 of the 60 months before its sale, Internal Revenue Code 121 allows the new owner to exclude up to $500,000 capital gains (up to $250,000 for a single homeowner) from tax upon sale. |
search for : Gifting a house, federal gift tax return, federal estate tax exemption, Internal Revenue Code 121
27 Jun 2007 07:19 am
Little Known Ways to Enjoy Your Outdoor Fireplace
| Even in the summer months, when evening temperatures never fall below 60 degrees in the mountain town of North Carolina and Georgia, outdoor fireplaces definitely gets used. While luxury amenities for backyards and patios may include built-in barbecues and plush sofas surrounding a weatherproof plasma television, it is the outdoor fireplace or fire pit that is increasingly becoming a backyard staple. |
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search for : built-in barbecues, weatherproof plasma television, outdoor fireplace
26 Jun 2007 06:50 am
Little Known Ways to Achieve Success In Real Estate Investing
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The latest book from longtime real estate author Tyler G. Hicks, “How to Acquire $1 Million in Income Real Estate in One Year Using Borrowed Money in Your Free Time,” is really about how and where to obtain mortgage money to acquire investment property. Despite its long title, this is a resource guide — rather than a real estate “how to” book — explaining dozens of ways to finance property acquisitions and where to locate the necessary funds. |
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search for : $1-million in Income Real Estate, obtain mortgage money, investment property
25 Jun 2007 07:23 am
Here’s a quick understanding of bankruptcy
| Bankruptcy laws are complicated. Thanks to new reforms that went into effect Oct. 17, 2005, the changes in the laws make it harder to qualify for bankruptcy and even exclude some people from filing Chapter 7. The laws require that a person filing for bankruptcy must get credit counseling from a government-approved credit counseling agency. The debtor must go to counseling within 180 days before filing for bankruptcy. There are some exceptions, such as the lack of qualified agencies to provide counseling and certain emergencies. |
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search for : Bankruptcy laws, Chapter 7, credit counseling
24 Jun 2007 06:33 am
Little Known Ways to Successful Home Improvements That Won’t Break the Bank
| Touch-up exteriors. Repainting the trim and front door of your house can significantly boost its curb appeal, Devers said. This kind of retouching work is easy on the budget and can be done in just a couple of hours. Replace your floors. The widespread availability of affordable “floating floors” (flooring options that can be installed on top of existing boards or linoleum) makes updating the floors in your rec room or pantry a cinch. “You’ll probably save a minimum $500 to $600 dollars by doing it yourself,” Devers said.
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