IRS recently announced that it is expanding the penalty waiver for 2018, with relief to certain filers whose 2018 federal income tax withholding and estimated payments was less than their total tax liability for 2018. (See Notice 2019-25 for more details.) It seems the Internal Revenue Service can show a little empathy and cooperation. IRS finally realized the confusion … [Read more...]
Repair My Credit Now To Qualify For Home Or Auto Loans
Our credit scores often go downhill for two main reasons - emergencies and carelessness with our shopping and budgeting habits. Then, when we're ready to buy a home or vehicle, people wonder how to repair my credit NOW? Ideas For How To Repair My Credit Now With lower scores, getting credit and loans becomes a challenge. Lenders see us as a high risk for repaying back … [Read more...]
Mortgage Refinance – Is Home Mortgage Refinancing The Best Decision?
Mortgage refinance is big business. Refinancing a home loan can be a disaster or win-win for both homeowner and lender. To know when is home mortgage refinancing the best decision, you must be informed about the current credit climate, your personal goals and financial needs. What Is Home Refinancing? Just to be clear, let's define what is home refinancing. It is not adding … [Read more...]
Tax Refund Offset – Can The Government Take Your Refund?
Are you looking forward to a big, fat income tax refund when you file your IRS return? Maybe you already have it spent. Imagine your surprise when you get a notice of Tax Refund Offset. Can the government take your refund? Many people are surprised to learn of a number of debts for which the Treasury Department can offset (reduce) a tax refund or other federal payments. In … [Read more...]
HARP Refinance Program – Help If Your Mortgage Is Underwater
You still have time to take advantage of the HARP Refinance Program. HARP has been extended until December 31, 2015. You might benefit this type of mortgage refinance if your property is upside down (you owe more on your home than it is currently worth) or has significantly decreased in value. UPDATE: The deadline was extended again! Announcement on the harpprogram.org … [Read more...]
Stop Foreclosure With Deed In Lieu Of Foreclosure
If you've never heard of it, you may wonder "what is a deed in lieu of foreclosure?" And "how could it stop foreclosure?" What is this type of stop-foreclosure deed? Often referred to as "deed in lieu," a borrower will use this document to stop foreclosure proceedings. It conveys back to the lender all of the borrower's interest in the property that was used as collateral in … [Read more...]
Home Refinance – Consider The Costs
Home refinance fees generally run between 3% and 6% of the outstanding principal. This varies between states and from lender to lender. Add the differences in equity, credit scores, and personal banking relationships. It becomes impossible to predict exactly what you will have to pay for your home mortgage refinance. One thing is certain - you must consider the costs of … [Read more...]
SBA 7a Loans Finance Your Business
If your business needs capital, have you considered applying for one of the SBA 7a loans? The 7(a) is SBA's most popular program. It may be worth your effort to slog through the variety of specific-purpose loan programs offered through the Small Business Administration. Why not see if you qualify! SBA Guarantees But Does Not Fund Loans First, let's clarify a frequent … [Read more...]
Consolidate Credit Debt – Practical Solutions
Has your credit card debt spiraled out of control? Improving financial status requires practical solutions and determination. Sometimes people can manage debt reduction on their own. If you feel overwhelmed, you can consolidate credit debt with the help of a professional debt counselor. A few respected professional services offer counseling or programs to consolidate credit … [Read more...]
Reverse Mortgage Loan Basics
Are you a senior strapped for cash? If your home has significant equity, a reverse mortgage loan may solve your dilemma. A reverse mortgage loan that keeps you in your home instead of selling a highly appreciated house may also save capital gains taxes. Reverse Mortgage Loan Basics Let's look at the basic guidelines about reverse mortgage loans: AGE You must be at least 62 … [Read more...]