Tag Archives: home owners

Most home owners know something about the home related tax breaks that are claimed every filing season. What a lot of people don’t know about is the number of added costs that stack up when purchasing a home. Buyers who aren’t able to make a down payment, usually 20%, are left with private mortgage insurers.

Private home insurance or PMI protects the lender if the borrower defaults on a payment. The Tax Relief and Health Care Act of 2006 put in effect this tax deduction that was supposed to cover mortgage policies issued in 2007 but because of the slow recovery of the economy, the tax break continued indefinitely.

Some players use these insurance payments to claim tax deductions as they file returns made from private mortgage insurance as well a policies issued by the Federal Housing Administration, Department of Agriculture’s Housing Service and Department of Veterans Affairs.
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Recently in the state of Texas, over 2,000 Texas Realtors visited Texas Capital to discuss consumer protection legislation and home ownership rights. While the rest of our country is suffering from high property taxes and sky rocketing home prices, the state of Texas has made home ownership rights a priority. Texas is one of the fewer states in this country that is focused on keeping home ownership affordable so that home owners can stay in their homes for years to come.

In today’s declining economy, many home owners are worried about maintaining the costs related to staying in their homes. Some worry if they are able to keep their homes in the near future and others worry about if they are able to purchase a home with high interest rates and strict lending policies. However, in the state of Texas, many foreclosures were avoided due to the state’s strict policy on home equity lending. This is all due to the fact that many Texas Realtors came together and lobbied for several consumer lending protection plans for homeowners and won in 1997. This is one great reason for a person who is thinking about purchasing a home to do so in the state of Texas. These consumer lending protection statutes only exist in the state of Texas and these statutes have protected so many Texas homeowners from losing their homes.
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The American housing market has greatly been affected by the Euro crisis this is because there is no defined deal that can make investors comfortable with what’s happening. It is important to note that Countries such as Great Britain are … Continue reading

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How much equity does your current home have? As you continue to make ongoing mortgage payments, you will begin to build equity in your property. Your home’s equity will also increase with its market value. While you will reap this … Continue reading

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