Leave a comment » IRS Tax Deductions from your MortgageIRS Tax Deductions from your Mortgage
So if you are a procrastinator as is the American-way, remember to plan for some of your Mortgage and Real Estate related tax deductions to save some money this year. Here are a few places to save: 1) Discount Points - Lender Discount Points are seen by the IRS as pre-paid interest charges. 2) Pre-paid Interest - your closing statement shows prepaid interest depending on how many days you will be in the property in the month you close. 3) Pro-rated Property Tax any property tax you pay at the closing table is deductible 4) Origination Points - Broker fees or Points are also considered pre-paid interest. 5) PMI/MIP - Mortgage Insurance on a loan that is over 80% Loan to Value (LTV) is deductible Where to consult your Accountant for sure: 6) HELOC / Equity Line - interest on your 2nd Mortgage or Home Equity Line of Credit may be deductible. 7) Second Home - this is a grey area. Your accountant knows the rules on deducting mortgage interest on 2nd home mortgages. 8) Depreciation - Investment properties only!! ! My Professional Advice: You have your closing package from when you closed your property neatly filed away, right? (nudge nudge) Get it out and take it with you when you visit your tax preparation specialist or CPA. Make sure to have your Accountant review your closing statement and IRS Form 1098 that you will receive from your lender in the mail. Your accountant will then make sure you get credit for all your deductions. To get the full article, follow this link -o-> Florida Mortgage | IRS Tax Savings on your HUD-1
More Florida Real Estate Industry News You Can Use from http://blog.orlandoavenue.com/002B09 
Posted on 2008-04-05 @ 12.38:11 pm by David
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As tax time is upon us and with all the talk about recession, politics and the housing market, most people are not focused on the fact that we are only ten days from tax day.
1 comment » Orlando Florida Mortgage | Builders Focus on ValueFor buyers who will need 100% financing, builders should make sure to keep an eye on the median home prices in the areaThis is a little departure from my normal posts that are mainly informational - call it an Opinion Piece. The Real Estate Industry in Florida is hurting as evidenced in all the bad news being reported. It isn't all bad, as the reporters would like you to believe. Houses are selling because there are people that need to buy and there are those that are finding bargains already. Now builders are spending their time marketing value and affordability into their homes... the reverse of the trend when they were marketing luxury and amenities. Honestly, they should have caught on sooner. http://blog.orlandoavenue.com/0012D1
Posted on 2007-10-19 @ 6.57:40 pm by David
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Leave a comment » Seller Beware Just Another ScamSeller Beware Just Another Scam that is happening not only in Orlando Florida.Seller Beware Just Another Scam that is happening not only in Orlando Florida.
Banks foreclosing, people walking away from high interest rate adjusting mortgages, buy and flip home sales not flipping now and to add to the mix we now have unscrupulous buyers trying to scam cash out after the sale. Here is how it works.
http://blog.orlandoavenue.com/0012A7
Posted on 2007-10-17 @ 12.42:27 pm by Teri Isner
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Leave a comment » Orlando Florida Buyers Ask How can we come up with down payment dollars?Orlando Florida Buyers Ask How can we come up with down payment dollars?Orlando Florida Buyers Ask How can we come up with down payment dollars? Orlando Florida Buyers have asked how can I come up with a down payment if I don’t have much of a savings? Hopefully you have saved some for closing costs but with most 80/20 loans going away or requiring a higher interest rate now there are still options.
http://blog.orlandoavenue.com/0012A5
Posted on 2007-10-17 @ 12.21:54 pm by Teri Isner
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Leave a comment » Orlando Affordable Mortgage | 100% Loans are Available in Florida!there are 100% loans available both for purchase and refinance transactions.Did I stutter? I do mean it... there are 100% loans available both for purchase and refinance transactions. No... I am not one of those scumbags trying to lure you into a dangerous loan! If you've read my posts at all, you know I'm definitely not about bad loans for good people.
Posted on 2007-10-12 @ 11.30:34 am by David
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