A home-improvement contract is an agreement between the homeowner and contractor which contains all of the conditions of the improvement project. Home-improvement contracts must adhere to the related state laws and spell out each party’s duties in detail. In California,…
The U.S. Department of Veterans Affairs (VA) allows a service member to refinance an existing VA mortgage to acquire a new mortgage with better terms or more affordable payments. A borrower with an existing VA loan doesn’t need to use…
In most states, landlords might legally take a tenant to maintain a renter’s insurance policy in a predetermined dollar amount as a condition of their lease. A landlord infrequently has liability to substitute tenant items which get destroyed or damaged,…
The IRS treats owner-occupied houses and rental property very differently. When you own and reside in your house, your mortgage interest is a tax deduction. When you lease property, all costs –such as mortgage interest–are deductible, you depreciate the building…
Home equity loans may offer debt relief once the profits are utilized for bill consolidation. “Depending on your creditworthiness (your income, credit score, etc.) and also the amount of your loan, home equity lenders may allow you to borrow up…
Making an offer to purchase a foreclosed home is somewhat different from a standard home purchase. Your deal will be introduced to the lender that took back the home when the homeowner could no longer make the payments. A foreclosed…
Selling a home is an easy job. Promoting a fixer-upper could be even harder. Buyers often need homes with contemporary kitchens, spacious master bedrooms and updated baths. In slow real estate markets, they could find these houses in any community…
One advantage of owning a house is the mortgage interest deduction. In case you need to make a payment, then you may too subtract it from your taxes, if at all possible. The interest you pay each year is not…
The Federal Housing Administration (FHA) is an agency within the United States Department of Housing and Urban Development (HUD). FHA provides insurance that borrowers gain from lending institutions. FHA-backed loans are generally simpler to obtain and have lower down payment…
On the day we moved to our house, after taking care of a few essentials (hello, coffeepot!) , the very first thing I did was unpack many boxes of books and prop my preferred prints on the windowsill. The giant…