Top 7 Questions about FIRPTA
1. What is F.I.R.P.T.A.?
F.I.R.P.T.A. is an acronym for Foreign Investment Real Property Tax Act. In 1980 the United States Congress enacted the Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) in response to widespread avoidance of U.S. taxes upon the sale of real property by foreign persons. A U.S. real property interest includes sales of interests in parcels of real property as well as sales of shares in certain U.S. corporations which are considered U.S. real property holding corporations. FIRPTA’s objective was to ensure at least one level of taxation for the sale of real estate by foreign persons. Thirty years later, FIRPTA has evolved as more complex holding structures for acquiring and dispossessing real estate have emerged. FIRPTA is a withholding, it is not a tax. Read the rest of this entry
When can you cancel Mortgage Insurance?
Starting on June 3 of this year the Federal Housing Administration’s new policy on mortgage insurance premiums (MIP) went into effect. See how and when you can cancel mortgage insurance. Read the rest of this entry
Can You Answer “YES” To Any of The Following?
- Do you have an FHA loan?
While FHA loans are good for people who don’t have much money for a down payment, they become very expensive to hold on to for the full term of the loan. I have helped many clients with getting out of an FHA loan and into a much lesser expensive conventional loan product. This results in saving them thousands of dollars from carrying inflated mortgage insurance premiums.
- Do you currently pay for mortgage insurance? Read the rest of this entry
3 ways to help have the fastest closing ever
Closing fast? That’s a thing of the past! Here are 3 ways to help you shave off some valuable time!
In today’s tremendously regulated, monstrously documented, charted process, you should count on your mortgage-closing timeline reaching or perhaps even exceeding two months, depending on your lender and or the banking rules. Read the rest of this entry
Time to Refinance
Mortgage Warehouse has been a leader in mortgage refinancing since 2003, helping families save thousands of dollars each year by reducing their interest rates, monthly payments, and reducing the term of their mortgage. Simply put, the best thing for homeowners interested in refinancing to do is to contact any of our loan professionals for a 100% free analysis. Read the rest of this entry