by maria | Sep 14, 2016 | Exclusive QA |
When it comes to foreclosures, there are two types—judicial and non-judicial. A foreclosure that results from a court action is a judicial foreclosure. The mortgage deed or trust does not have a power of sale clause, therefore, the lender, trustee or another lien...
by maria | Sep 14, 2016 | Exclusive QA |
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...
by maria | Sep 14, 2016 | Exclusive QA |
Yes, but only after you have sold it because improvements add to the basis of your home. Remember 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...
by maria | Sep 13, 2016 | Exclusive QA |
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...
by maria | Sep 13, 2016 | Exclusive QA |
A landlord agrees to give a renter an exclusive option to purchase the property. The option price is usually determined at the outset, but not always, and the agreement states when the purchase should take place—whether, say, six months, or a year or two down the...