How to refocus US mortgage interest reliefMartin Wolf
Through a mortgage refinance, you can replace your original loan with a new one to get a better deal. The Mortgage Bankers Association reported in its weekly survey thatmortgage refinance applications were 7% higherthan the same time last year, attributing the rise to a dip in interest rates....
How do you spell mortgage relief?Segal, Edward
Is mortgage forbearance a good idea? Mortgage forbearance isn’t necessarily a bad idea, as long as you communicate with your lender or servicer and have a plan for when the relief period ends. When you can’t afford to pay your mortgage, forbearance gives you a chance to sort out your...
Check with a tax professional to find out what relief you might qualify for if a disaster has occurred in your area. Should You Itemize Your Deductions? You have to itemize your deductions to claim casualty and theft losses so you'll have to decide if itemizing instead of taking the standar...
Adding forgiven debts to income The Mortgage Debt Relief Act of 2007 Extension of the Mortgage Debt Relief Act Click to expand Key Takeaways The IRS recognizes certain exceptions to canceled debt rules, including gifts, bequests, inheritances, some qualified student loans, a qualified reduct...
If you use a portion of your home exclusively for business or if you regularly meet with clients or customers in your home office, you can generally claim home-office expenses. These expenses include a percentage of your home insurance, mortgage interest (or rent), utilities, repairs, and mai...
So in this piece, we’re going to explore what salary you need to earn to afford a $600,000 home, what your down payment should be, where to find homes in this price range and more. We’ll also cover the risks of buying a (relatively) high-value home, today’s mortgage rates and...
2. Not Getting the Option to Purchase Points A "point" or "discount point" is like prepaying your mortgage interest. Borrowers purchase points to lower the amount of interest they will pay on the loan. Your lender should give you the option to lower your interest rate by purchasing points...
As a homeowner with a federally backed mortgage loan, you must contact your loan servicer (the company to which you make payments) to request forbearance. You don't have to submit extensive documentation, justaffirmation of your financial hardship. You can do this over the phone. Your initial...