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Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a economic stimulus… Continue reading

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In this chapter, we will discuss For-Sale-By-Owner or FSBO (An individual homeowner who is attempting to sell his property without a real estate broker. The acronym, FSBO is pronounced “fizzbo”.) properties. With an For Sale By Owner (FSBO) property, the seller acts as the selling agent and handles the sales process directly with the buyer or buyer’s agent. In this situation, the seller does not pay a listing commission. We have included For Sale By Owner (FSBO) listings on our website because they offer an opportunity to save on the purchase price of a home. The specific reasons why are discussed below.

Free Search 1000’s of Bargain Homes!

The For Sale By Owner (FSBO) market accounts for approximately 10 - 15% of the… Continue reading

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Did I Get the Right Amount?-Economic Stimulus Payment FAQs

Q. I received a check in the mail from the federal government. How can I tell whether it is my stimulus payment?

A. Look for the words, “2008 Economic Stimulus Payment” on the front of the check, below your address.

Q. I received my stimulus payment, but it was less than what my friends and neighbors received. Why?

A. Your economic stimulus payment will be based on information provided on your 2007 income tax return.

Online Tax Return Do Your Taxes Online in Minutes. File Federal & State with Step-by-Step Help… Continue reading

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Even though the April 15 tax deadline has passed, it is not too late to file for your Economic Stimulus Payment this year. Persons who qualify for the payment must file a 2007 tax return by October 15, 2008.

File your taxes online with CompleteTax today. No hidden state fees.

Millions of people are eligible but may not know it, or think it is too late to get a payment. These are certain retirees, disabled veterans and low-wage workers who normally don’t file a tax return because their income is too low or nontaxable… Continue reading

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How the Government Sells Homes to the Public

HUD Homes and Government owned property are quite similar to Bank Owned property in that the government is equally motivated to sell these distressed assets. However, there are enough differences that we decided to create a separate chapter. Government foreclosure inventory includes residential and commercial property from the federal, state and local governments. The primary government agencies that sell foreclosed or distressed assets to the public are discussed below:

Where do Government Foreclosures come from?

HUD (U.S. Department of Housing and Urban Development):  The largest… Continue reading

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Another great opportunity to purchase foreclosures is after the auction, when the lender is either the successful bidder or there are no bids at all. In either case, the bank becomes the legal property owner and the property is considered a non-performing asset of the bank. When ownership is transferred to the bank as a result of foreclosure, these Bank Foreclosures are often referred to as either REO (Real Estate Owned. Property that is in the possession of a lender as a result of foreclosure or forfeiture. )or Bank Owned properties. At this stage, the key point to remember is… Continue reading

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