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CFPB official talks reverse mortgage safety, counseling resources

Housing Wire

The CFPB advises that upfront fees can be “as much as $6,000 plus closing costs in an initial mortgage insurance premium,” in addition to an annual mortgage insurance premium and obligations related to property taxes and homeowners insurance.

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Reasons To Get An Appraisal

Padove Appraisal Service

Estate planning: If you are planning your estate, an appraisal can help determine the value of your property for tax purposes or for dividing assets among heirs. Legal proceedings: An appraisal can be useful in legal proceedings, such as divorce settlements, where the value of a property needs to be determined.

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Understanding the Math of Profitable Investment Properties

Eppraisal

Investing in real estate can be a lucrative venture, but it's crucial to understand the financial aspects that contribute to a profitable investment property. Let's break down the key elements and calculations you need to consider when evaluating potential investment opportunities.

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Investors turn their eyes to affordable housing opportunities

Housing Wire

The public and policymakers appear to be unflagging in their understanding and support for workforce housing, especially for essential workers, recognizing its pivotal role in community operations, said Brian Coffee, senior director for community investment capital for Synovus Bank in Birmingham, Alabama.

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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Not tax advice. Consult a tax professional. † As with any mortgage, the borrower must meet their loan obligations: keeping current with property taxes, homeowners insurance, and maintenance.

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7 Strategies for real estate agents to slash taxes before year-end

Housing Wire

Use these seven strategies to avoid overpaying taxes, save money, and better manage your business. Identify business deductions Every business has ordinary and necessary costs, such as office equipment, marketing , accounting, and insurance , that are tax-deductible.

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Taking the leap: The benefits of buying vs. renting a home

Housing Wire

The longer you live there and pay down the mortgage, the greater your stake in the property’s value. Should the property increase in value over time, then you, in turn, will have built up more equity. Property has the potential to decrease in value, as well.). Consult your tax adviser for potential tax benefits.