For tax reform to be implemented, our politicians will need to negotiate and compromise on the existing terms:
House & Senate Tax Reform?
read more
Mortgage News
House and Senate Tax Bills
If I were a local politician, I'd like to preserve either the M.I.D. or the state and local taxes - or at least include the property-tax deduction up to $10,000 - and compromise on the other changes Use the slogan, "If California tanks, the whole country tanks!
San Diego #1 for Rents
Even if the tax reform includes fewer incentives for buying, the rising rents should still help to power sales - and San Diego was #1 in the country for our 5% increase year-over-year! http://www.mortgagenewsdaily.com/11082017_housing_affordability.asp An excerpt:...
Tax Reform – Senate Version
We're breathing again - the Senate's version of tax reform doesn't change the mortgage-interest deduction, leaving the cap at $1,000,000: The mortgage interest deduction stays. The current mortgage interest deduction rules remain intact in the Senate plan: Americans...
GOP Tax Reform
From HW: The Republican tax plan is in, and an investigation reveals one place stands to lose far more than any other under the new plan. To recap – the Tax Cuts and Jobs Act will slash the mortgage interest deduction in half from $1 million to $500,000, double the...
Tax Reform?
The California Association of Realtors is pushing realtors to object to the Big Six tax reform. Here are the reasons why: C.A.R. OPPOSES the Tax Reform Proposal Because: We must reverse the decline in California’s homeownership rate. For over 100 years Congress has...
Vampire Squid Offers Flip Financing
Add house-flippers to Goldman Sachs' ever-expanding roster of potential clients as the Wall Street firm hunts for new ways to make money. Lending has taken an increasingly higher profile at Goldman, where once-prominent trading desks have had their wings clipped by...
Crowdfunding Your Down Payment
If Fannie/Freddie is willing to allow this, how much longer will they require a down payment? From cnbc.com: https://www.cnbc.com/2017/10/05/a-new-way-to-buy-a-home-crowdfunding-the-down-payment.html An excerpt: Most business crowdfunding platforms offer returns on...
Housing Crisis Due to Flippers
We saw this happen in Bressi Ranch when Jenae and Company went on their 100% financing spree. Her victims weren't deadbeats - instead, they had good credit scores and other assets, and they were just duped into the get-rich-quick scheme. When it didn't pan out, they...
Reverse Mortgages Backfiring
As she was getting on in years and her resources dwindled, Virginia Rayford took out a special kind of mortgage in 2008 that she hoped would help her stay in her three-bedroom Washington rowhouse for the rest of her life. Rayford, 92, took advantage of a federally...
