Ten Tax Tips for Individuals Selling Their Home

Ten Tax Tips for Individuals Selling Their Home The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain from your … Continue reading

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What is Earnest Money?

Earnest money A deposit made by a purchaser of real estate to evidence good faith. Example – it is customary for the buyer to give the seller earnest money at the time a sales contract is signed. The earnest money generally is credited to the down payment at closing. Until closing a broker must hold … Continue reading

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Let’s Talk Property TAX – Homestead Exemption

Homestead Exemption Please contact your County Tax Commissioner to determine what filing procedures are required. Cobb County DeKalb County Fulton County Gwinnett County Henry County Newton County Rockdale County Walton County Generally, a homeowner is entitled to a homestead exemption on their home and land underneath provided the home was owned by the homeowner and was … Continue reading

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Wiring Funds for Closing?

You will most likely receive an email from your lender or the closing attorney with the message below. It is a good idea to prepare to wire your funds 24 hrs prior to closing in order to have time to confirm receipt by the attorney and ensure a smooth settlement. PLEASE BE AWARE THAT GEORGIA … Continue reading

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FHA Launches Short Refi Opportunity for “Underwater” Homeowners

“We’re throwing a life line out to those families who are current on their mortgage and are experiencing financial hardships because property values in their community have declined,” said FHA Commissioner David H. Stevens. “This is another tool to help overcome the negative equity problem facing many responsible homeowners who are looking to refinance into a safer, more secure mortgage product.”

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ABC’s of closing costs

You’ve found your dream home, the seller has accepted your offer, your loan has been approved and you’re eager to move into your new home. But before you get the key, there’s one more step—the closing. Also called the settlement, the closing is the process of passing ownership of property from seller to buyer. And … Continue reading

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Lender Changes to the Appraised Value and Guidance on Addressing Appraisal Deficiencies for Fannie Mae

In the past, Fannie Mae did not provide requirements concerning lenders making changes to the opinion of market value reflected in the appraisal report. During Fannie Mae’s post-purchase reviews, cases were identified where the lender had reduced the opinion of market value in the appraisal report based upon underwriter judgment, automated valuation models, or other … Continue reading

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FDIC Consumer Tip of the Week – March 15, 2010

FDIC Consumer Tip of the Week – March 15, 2010 Those blank "convenience checks" from your credit card company offer a quick way to write yourself a loan, pay bills or transfer other loans to your credit card account, but they often come with high costs and other potential pitfalls. Learn More… A collection of … Continue reading

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FHFA Web Page Modified: House Price Index

This message is to inform you that the page "House Price Index" on the FHFA web site has been modified. You may browse to the page by clicking here, or by entering the following URL in your browser’s address window: http://www.fhfa.gov/Default.aspx?Page=14

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Recommended Video By brandi: Jean Chatzky – Attack Debt

Jean Chatzky – Attack Debt Posted By SUCCESS_Staff On March 3, 2009 (4:15 pm) In Experts How You Can Attack Debt with a Single Phone Call Jean Chatzky is the financial editor for NBC’s Today Show. She is the editor-at-large for Money Magazine and serves as AOL’s official Money Coach. Chatzky is the author of … Continue reading

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