For anyone interested in a new home, they know how expensive it all costs. It is exciting to know that California provides incentives to purchasing by giving tax credits and grant money. Grant money will be given to help pay for closing costs and the down payment.
CTEC approved provider Many of us dream to live in our own home, and it is not a cheap endeavor as long-term loans are needed to pay for a house. Many different opportunities are given by the government to help relieve this burden. They provide this tax credit as well as grants to ease the amount of the loan taken.
Okay, now you are comfortable because your brother-in-law found you a good attorney that gets it. Here is the scenario that has occurred around the country. The well intentioned attorney represents you in court but what is he really doing? He is trying to stretch out the foreclosure process. Paying an attorney on a monthly basis instead of the bank creates cheap rent for you. But, you MUST continue to finance the efforts of your attorney. At the end of the day when the lights are turned out, the attorney comes to you and says “we won”. You won what? You won a dismissal without prejudice. This means the opposing counsel simply says to the judge, “see you next month, because we will be back”.
With a “reverse” mortgage, you receive money from a lender and don’t have to pay it back for as long as you live in your home. However, the loan requires repayment when you die, sell your home, or no longer live there as your principal home.
CTEC classes The Cash flow quadrant really sums up the essence of financial success. If you focus on the left side of the quadrant then you can make an OK income but if you focus on the right side then you can become rich. Robert Kiyosaki points out in Rich Dad / Poor Dad that the left sides of the quadrant people make money, pay tax and then spend it. On the right side of the quadrant people make money, spend it and then pay their taxes. This is a huge difference and can be the biggest success lever in your financial arsenal.
There have been several new developments in Tampa Florida Real Estate and Clearwater Real Estate holdings; the plans for developing downtown Tampa, especially the Rivergate area, are potentially very exciting indeed, according to recent articles in the Tampa Bay Business Journal.
CTEC courses Another thing I found out, which prior to this point I did not know, was the tax implications you incur after a foreclosure because of something called Cancellation of Debt Income. That one really shocked me when I learned about it. And to just put the cherry on top, there’s something called a Deficiency Judgment and it is not good for the borrower. This legal process allows your bank to sue you for the unpaid balance of your mortgage, EVEN AFTER THEY AGREE TO DO A SHORT SALE. I could not believe this when it happened to me and it affected my decision to cancel a short sale I had been working on for five months with Bank of America Home Loans. It was a long and tedious education process that I hope I never have to repeat again.
Tyler: In “Rich by Choice” you talk about how much insurance a person needs and which ones are essential. Would you give us a summary of your opinions on insurance?