Occasionally, when a law is passed not everybody is affected in the way the law intended. This is referred to as The Law of Unintended Consequences. When Proposition 13 passed in California in 1978 several significant and financially beneficial changes to the calculation of property taxes were implemented. However, Read More >
How Closing Credit Accounts Can Undermine Credit Scores
Posted on: 05.24.16
In the last few months I’ve helped several families refinance and consolidate their credit card debt using the equity in their houses. One family was able to save $1,100 per month, another family $1,300 per month, and another family $1,700 per month. That represents a significant amount of any family’s monthly cash Read More >
What is the Difference Between the Property Tax Rate and An Effective Property Tax Rate?
Posted on: 05.10.16
As a California homeowner, you are responsible for paying property taxes on each and every property you own, but only during the time that you own each property. The amount of your property taxes, as set forth in Proposition 13, is based on the assessed value of each property. For homeowners who purchased property Read More >
How Are Loan Discount Points Deducted on Your Tax Return When You Refinance Your Mortgage?
Posted on: 02.16.16
Whether obtaining a mortgage to purchase a house or refinance an existing mortgage, it can be very tempting to pay loan discount points in an effort to secure the lowest interest rate possible. While I don’t often advise paying discount points because it is rarely in the client’s best interest, especially in refinance Read More >
Are Loan Discount Points Tax Deductible When You Buy a House?
Posted on: 02.11.16
It has become commonplace to pay loan discount points when obtaining a mortgage these days in an effort to secure the lowest interest rate possible. While I don’t often advise paying discount points because it is rarely in the client’s best interest, the good news is that if you decide to pay points, any points you pay Read More >
Should You Pay Loan Discount Points or Not?
Posted on: 02.04.16
When an aspiring homeowner applies for a mortgage to finance the purchase of a home of their own they are confronted with a great many decisions. Decisions they may not be equipped to answer without professional guidance. One of those decisions is whether or not to pay loan discount points to secure a lower interest Read More >