Should You Buy A Foreclosed Home From a Bank?
Buying a foreclosed home from a bank have its positives and its downfalls. Even though foreclosed homes are not as prevalent as they were following the real estate market crash of 2008, there are still deals out there. When a foreclosed home is sold by the bank or lender, it is called an “REO” or real estate owned property and typically is offered at a favorable price. But is buying a foreclosed home from a bank a bad idea? For sure, there are issues that you will have to take into account or you could end up paying much more in repairs after the purchase. A sellers disclosure is typically…
Tax Law Impact
We all know by now that the changes to federal tax deductions enacted at the end of 2017, will now take effect this year. The Tax Cuts & Jobs Act lowered the cap on the mortgage interest deductions from the previous amount of $1 million to $750,000. It also placed a $10,000 cap on state and local tax deductions. Although these caps increase in the standard deduction means that fewer of us will opt to itemize. It also means it will decrease the tax benefits for home owners of more costly homes. It’s too early to have any real data to review, but we predict that these new tax laws…
Fine Homes Of Ocala
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