Congrats! Your house is selling for substantially more than you paid for it! That’s a good thing… or is it? There are some scenarios when selling a home will come with hidden fees and tax liabilities.The IRS may want a chunk of the profits in the form of capital gains tax. But there are ways that homeowners can avoid taxes on home sales.
There comes a time in life when everyone has to consider their living situation: Do you continue to rent, or do you take the plunge and buy a house? Or more precisely, when should you buy a house versus rent?
After the real estate bubble burst in 2008, it seemed like foreclosed houses could be found in almost every neighborhood across the country. The number of foreclosed homes reached an all-time high in 2010 but has steadily decreased each year since. Nevertheless, as long as there have been mortgages, there have been people unable to pay them. Buyers can get a bargain buying a foreclosed home. But if they’re not cautious, they can get more than they bargained for.
By Kay Bell
You’ve found the perfect house. Interest rates are still low. There’s just one thing standing between you and your dream home: a down payment.
Don’t abandon your homeownership dreams just yet. Here are nine ways to come up with the cash for your new home.
Pay Off Your Credit Cards
By Cheryl Knight
Buying a house is a life-changing process that requires lots of upfront financial planning.
When looking for a home, keep certain factors in mind, including your financial situation, types of available loans, your credit score, the price of the house and your down payment so you can navigate the process smoothly.
Your Financial Situation