What Are the Disadvantages of a Short-Sale Mortgage?

What Are the Disadvantages of a Short-Sale Mortgage?

Short sales are the most important alternative to foreclosures for homeowners who can not afford their mortgage and do not qualify for financing modification or mortgage refinance. They’re a last-ditch resort to prevent the worst effects of a foreclosure. The…

How Can I Get a Mortgage With A Single Late Credit Card Payment?

How Can I Get a Mortgage With A Single Late Credit Card Payment?

You’re prepared to purchase your dream home. The problem isthat you recently missed a credit card payment. You know that missed payment has made its way to your own credit report, and you stress that this blemish may hurt your…

What Is the Difference Between a HELOC & a Home Equity Loan?

What Is the Difference Between a HELOC & a Home Equity Loan?

HELOC stands for home equity line of credit. The credit line allows a homeowner to tap into existing equity to obtain money. Home equity loans also use existing home equity as security in exchange for money. Banks approve HELOCs and…

How to Account for the Cost of Building & Real Estate Taxes

How to Account for the Cost of Building & Real Estate Taxes

If your company bought a building for business use, you must account for the price of the construction and the real estate tax due on the construction each year. The Internal Revenue Service (IRS) considers a building a capital asset,…