By owning your own Big Bear home, you are eligible to receive many tax benefits throughout the time you own the property. Here’s a brief overview of the top ten homeowner tax deductions: 1. Mortgage Interest Interest that you pay on your mortgage is tax deductible, within limits. If you're married and filing jointly, you can deduct all your interest payments on a maximum of $1 million in mortgage debt secured by a first or second home. The maximums are cut in half for married taxpayers filing separately. Note: … [Read more...]
Home Loans and Refinancing
November 14, 2011 by Leave a Comment
Moonridge Real Estate For most of us, our home is our single greatest asset. Arranging a loan based on your home’s accrued equity can be risky. Abusive lending practices can range from equity stripping and loan flipping to hidden terms and extra charges. Equity Stripping Equity stripping or skimming is a form of predatory lending which can work like high cost, risky refinancing. Homeowners facing foreclosure may be promised cash, free rent and the possibility of retaining their home. The unscrupulous lender borrows … [Read more...]
