News about properties and real estate
Residents in Clark County who are facing foreclosures can now sigh in relief as help from the federal government is on its way for their mortgage payment. Nevada was chosen to be one of the recipients Hardest Hit Fund established President Obama. The state one of the numerous states in the United States who has …
Continue reading “Hardest Hit Fund Help Homeowners’ Mortgage Payment”
Dear Poliakoffs: We live in a 47-unit condo in Palm Beach County. One of the owners has not paid for maintenance in 10 months. The association pays the water and cable. Can the association under Florida condo law shut off the unit water and cable for nonpayment of maintenance after notification? – P.P. Dear P.P.: …
Continue reading “Condo Column: Condos can’t cut off utilities, but is cable TV a utilty?”
Things have been pretty bad in the mortgage business for the last three years. So, Phyllis Taylor found her paychecks getting slimmer. Taylor, who works for a mortgage firm, could no longer afford her mortgage. She thought she might have to sell her house in Chesterfield and move to something cheaper. Instead, she took out …
Continue reading “Reverse mortgages offer benefits, pitfalls”
She has a sales job with a six-figure salary. He owns a successful tech company. And they are in foreclosure. But unlike countless other Americans faced with losing their homes, this couple could make the $5,200 monthly mortgage on the waterfront property in Pompano Beach that they bought for $585,000 in 2004. Foreclosure was their …
Continue reading “Some homeowners, who can afford the mortgage, still default as a strategy”
Harold Allen thought he’d live in his single-wide mobile home forever. He added so many flourishes — marble floors, multi-colored driveway, a new deck, an elaborate outdoor waterfall — he’d poured $150,000 into it by the time he was finished. Now Broward County wants to tear it down. Allen and his neighbors at Ocean Waterway …
Q. I have two questions in regards to rental properties. On June 30, 2010, I moved out of my primary residence that I owned and rented it out July 1, 2010. First question is, how do I determine the value of the home to calculate the depreciation? I purchased the property in 2007 for $192,000 …
Continue reading “Figuring tax deductions on rental property”