A question I hear frequently is “why do I need title insurance?”
Well… as they say at the Big Thunder Mountain Railroad in Disneyland.. Hold onto your hats and glasses folks! Continue reading “What is the Point of Title Insurance? By Jen Hudson”
Zoning. It doesn’t have to be the monster under your bed. By Jen Hudson
This next sentence may be one of those “no, duh!” type statements, but just hear me out. Cities, towns and counties are usually made up of different Continue reading “Zoning. It doesn’t have to be the monster under your bed. By Jen Hudson”
New Changes to Buying & Selling. By Jen Hudson
The Consumer Financial Protection Bureau (CFPB) is going to make changes. First, you’re probably thinking… the what? Continue reading “New Changes to Buying & Selling. By Jen Hudson”
A Tax Code Bedtime Story.
Did you know that Section 1031 is a section of our tax code? It’s designed to defer taxes on a like-kind exchange.
Wait (…. narrator comes to a screeching halt). Tax code isn’t very sexy. Let me try again.
Let’s start with a story. My limited understanding of Thor goes something like this. Once upon a time…. Continue reading “A Tax Code Bedtime Story.”
AGENTS: IS YOUR CLIENT IN A DIFFICULT SITUATION?
IS YOUR CLIENT IN A DIFFICULT SITUATION?
Hey Agents! Sometimes, it easier to take a 25% referral check than to try and learn a whole new segment of the business… especially a very complex and sometimes litigious one! Continue reading “AGENTS: IS YOUR CLIENT IN A DIFFICULT SITUATION?”
USDA Loans… the rules are different if you fall behind.
There is a little known fact that USDA can (and will) seek deficiency against a borrower even is USDA proceeds non-judicially (foreclosed) against the debtor in Washington State. The rules for FHA, FANNIE, FREDDIE, and VA do not apply to USDA mortgages. Continue reading “USDA Loans… the rules are different if you fall behind.”
Mortgage Debt Relief Act Extended to 12/31/2014
GREAT NEWS!!! The mortgage debt forgiveness act has been extended!
The bad news? It’s only extended until the end of this month (December 31, 2014).
In the past, congress has extended the mortgage debt forgiveness act a few times already. This law allows sellers who were completing short sales or foreclosures to eliminate any need to pay tax on the amounts of debt being forgiven by the lender (or lenders). This has been a very favorable law since 2007.
It has previously expired in 2013.. while the details are still being worked out, it appears that congress will extend this bill for debt forgiven between January 1st and December 31st, 2014.
We had hoped for an extension through the end of 2015, but that does not appear to be on the horizon at present.
But, this is great news for sellers who had (or will) complete their short sale or foreclosure during 2014. While many had anticipated a tax implication, that may now have disappeared!
If you’re facing some tough times and need to discuss the options available, give me a call at (206) 293-1005 or send an email to: Jen@HudsonCREG.com. Our discussions and your information is always kept confidential… forever.
Tax Relief, Debt Relief, and no more litigation
I have helped roughly 80 property owners get out of some pretty sticky situations over the past 4 years, but one that I won’t ever forget… Continue reading “Tax Relief, Debt Relief, and no more litigation”
$60,000 Tax Bill Avoided!
It’s best to plan ahead for your 1031 Tax Deferred Exchange, that way you don’t need to “settle” just to avoid the taxes. Continue reading “$60,000 Tax Bill Avoided!”
1031 Exchanges That Don’t Work
Tax Deferred Exchange Tips for the Real Estate Professional, courtesy of Kevin Hummel, McFerran & Burns, PS.
Exchanges That Don’t Work
I really enjoy being positive and creative. It is absolutely exiting to help people find new solutions to their capital gains challenges, but sometimes I have to be the bearer of bad news. Sometimes I just have to give you the information you did not want to hear. Continue reading “1031 Exchanges That Don’t Work”