Avoid Capital Gains Taxes Forever

You can potentially avoid paying taxes forever by continuing to exchange your properties.

When you get down to your final property, just don’t sell it, and it won’t get taxed.

Or you can just move into the property and finally sell it as a personal residence to avoid paying taxes on the capital gain.

There are several different strategies and combinations that you can use.

Planning is very important, and it is always good to have a backup plan just in case you need to sell the property and pay on the capital gain and depreciation recapture, or if you get hit with alternative minimum tax, which is likely.

source: http://www.trexglobal.com/property-management/category/real-estate-tax-tips

Five misconceptions about property taxes

1. You can appeal property taxes. No. You can appeal your assessment, not your taxes. You annually receive your assessment the first week of January and must appeal by January 31.

2. An appeal will change the market value. The market value may not correlate to the assessed value. BC Assessment typically assesses properties as of the previous July 1. A REALTOR® valuing a home now – 11 months later – may find the market has changed, the home has had an addition or the street has been re-zoned, all of which affect value.

3. If you just bought a home, the previous owners are liable for taxes. No. When you buy a property you become liable for all outstanding taxes.

4. New home owners can claim the Home Owner Grant. No. New home owners cannot claim the Home Owner Grant if the seller paid the taxes or if the new home owner claimed a grant on another property.

5. You haven’t claimed your Home Owner Grant for a few years and you want to claim it all now. You’re out of luck. You can claim the grant amount only for the previous year.

source: http://chuthisrealestate.blogspot.com/

A new book shows you how to walk away with cash in foreclosure

An unemployed single mom in Georgia stayed in home foreclosing home for more than 18 months. A lady aged 65 year with only social security income saved her home from foreclosure with no need to make any mortgage payment. An angry and frustrated homeowner lost his home and large amount of home equity and destroyed his credit due to his uncontrollable emotions and ignorance.Those are the real stories or examples you can find in a newly released book entitled “How to Save Your Home & Credit, Stay Payment Free & Get Cash Legally from Mortgage Foreclosure”, which is available online at Barnes & Noble, amazon.com, BookaMillion, Biblio, AbeBooks, and several other websites.Millions of American homeowners unfortunately lost their homes that could have been saved due to the lack of understanding the foreclosure laws, borrowers’ rights and available options, based on John Wen, the author and also an investor specialized in real estate foreclosures, tax foreclosures and default mortgage notes.

In the book, the author demonstrated 8 options for you to save your home, including loan modifications using Obama Foreclosure Prevention program, other government programs, and reverse mortgage. He also showed you 4 ways to delay or stop foreclosure proceedings to buy you time to save your home or credit, or to stay payment free. He explained 7 ways for you to walk away with cash legally if home foreclosure is inevitable. Unfortunately, majority of homeowners facing foreclosures do not know this. The author wants to help those homeowners through this book.

This year, more half millions Americans lost their jobs each month and they will get trouble to make their mortgage payment and will be facing home foreclosures. Even worse, reset of the ARM and option ARM will peak in 2010 and millions of borrowers may have trouble in making the mortgage due the huge increase in their monthly payment caused by the interest reset.

”With this book, millions of those homeowners can save their homes, or stay in their homes for months and even more than a year if they do not have any income, or least work away with hundreds or more than thousand dollars if their home are to be foreclosed”. The author said.

”In order for homeowners to understand the complicated foreclosure laws and processes, difference ways to save their homes, I have provided step by step guide with examples to take the right actions. I also showed them on how to deal their own emotions to avoid costly mistakes and how to communicate with lenders to pave the road to the success in the foreclosure fighting.” John added.

The book is published by Gates Global Publishing LLC. It has 264 pages and 9 Chapters. It also gives you tips on how to write a good hardship letter with examples. A good hardship letter is a must in work with your lender to stop foreclosure.

source: http://besthomesellingtips.com/2009/05/18/a-new-book-shows-you-how-to-walk-away-with-cash-in-foreclosure/