IRS wants you to retire Financially Free! We will answer your questions and give you options about how to become Financially Free when you retire Tax answers/options when you sell your Home. We will answer your questions about the tax free home sales and give you options on tax free exchanges So, You got a letter from IRS? We can help. Letters from IRS are scary. We will answer your questions at no charge. S-Corp, LLC, C-Corp, Partnership - Your Choice? Selecting the correct Business Entity is confusing. We will give you the tax options of each Business Entity. How not to pay taxes when you sell income property. We will explain how to do a tax free exchange & not pay taxes when you sell your income property.
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Article “Foreclosure” is a four-letter word to any homeowner. The thought of losing a home to foreclosure is scary, and any homeowner would do whatever possible to avoid this predicament.
What is foreclosure, exactly? Legally, if homeowners continually miss mortgage payments, the lender can repossess the property. This is foreclosure, and it means the homeowner must give up the house. Not only that, but foreclosure can critically affect a person's credit rating, sometimes preventing any future credit opportunities. Because of this, foreclosure should be avoided if at all possible. If you are having difficulty paying your mortgage, communicate this with your lender. Chances are you may qualify for assistance, or there may be another loan better suited to your needs. Another way to prevent foreclosure is to work with a housing counseling agency; Housing and Urband Development (HUD) can refer you to a reputable agency in your area. (Call 800-569-4287 for more information.) Some alternatives to foreclosure include special repayment plans, temporary suspension of mortgage payments, and mortgage modification. These all depend upon your financial status and require you to furnish complete proof of both income and debt. Another possibility is pre-foreclosure sale. Pre-foreclosure sale enables you to sell your home for a lower amount than you have left on your mortgage. You will still owe the remainder of your mortgage loan; the benefit is that you will avoid foreclosure and save your credit rating. If none of these options works for you, you may pay your lender the deed for your house in lieu of foreclosure. While you still lose your home, your credit rating will not suffer as greatly as if you went through a foreclosure. Be wary of scams. Only a professional can truly determine if you are qualified for these options to avoid foreclosure. Make sure you get everything in writing, and only sign if you understand the paperwork. It is possible to avoid foreclosure if you make wise choices and understand your rights. Just be careful not to fall prey to scam artists. The outcome may be worse than foreclosure alone! Your best bet to avoiding foreclosure is to work closely with your mortgage company and/or a lawyer. Jeff Lakie is the founder of www.best-foreclosure-help.info and www.hault-home-foreclosure.info websites providing information on home foreclosures
On the pages of this web site you will find information that has been collected from many independent sources. Each article or news item offers a different point of view, but not necessary the CPA Mom's. This information is for general information only.
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