Blog Archives

How to Own a Home in 2013!

Happy New Year, welcome to 2013.  Many people may have a New Year’s resolution to become a homeowner in 2013.  Well, Property Guiding would love to help you make this a realty.  I want to start again with the basic information to get things going: Read the rest of this entry

MORTGAGE DEBT FORGIVENESS RELIEF – PROPOSED EXTENSION

MORTGAGE DEBT FORGIVENESS RELIEF – PROPOSED EXTENSION

HAPPY NEW YEAR!!!! In the early morning hours on January 1st, 2013, an extension of the Mortgage Debt Relief Act of 2007 was passed by the Senate and many are hopeful will also be passed in the House by today. The legislation dealt with many issues, but relevant here is the amendment they made to the 2007 Act by striking the expiration date of “January 1, 2013” and inserting “January 1, 2014”. Without this extension, any debt forgiven by a lender due to a short sale, modification, or deficiency waiver would be considered taxable. Read the rest of this entry

What am I truly paying in my Mortgage Payment?

Many times in the process of the loan application we forget to answer the most basic questions, and many times the simple answer’s help to understand the process a little better.  For example:  Mortgage payment?  How is the payment separated out, when is it due, and how do they decide who has to have mortgage insurance and who doesn’t.  Below are just a few interesting facts about the “mortgage payment”. Read the rest of this entry