Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service. This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforcement efforts by the I.R.S. To hel
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10/16/2006
Have These Items Ready When You Apply For a Loan It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getting answers quickly, so "alternate documenta
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10/16/2006
When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you've made your payments on time. What you may not expect is that they seem to be more interested in your "FICO" score. "What's a FICO score?" is a common reaction. Each time your credit report
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10/15/2006
Considering Offers When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer. Some terms that may work in your favor: *higher-than-market-interest in a s
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10/15/2006
I lave to read the backs of people's business cards. a lot of them have the common saying such as I LOVE REFFERals, or I'm here for your needs and such. The other day I was at the car dealership getting my car fixxed. I love to talk with people and I had met this one gentalman with card that had
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10/15/2006
The Mechanics' Lien law provides special protection to contractors, subcontractors, laborers and suppliers who furnish labor or materials to repair, remodel or build your home. If any of these people are not paid for the services or materials they have provided, your home may be subject to a mech
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10/14/2006
How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan with an interest rate about one percent below a thirty-year fixed rate mortgage and pay zero points? Or a loan where you did not have to document your income, savin
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10/14/2006
After months of searching, you've finally found it -- your perfect dream home. But is it perfect? Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documents been recorded that will restrict your use of the proper
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10/14/2006
Builders, in an effort to combat the dual problem of an increasing population and a declining availability of prime land, are increasingly turning to common interest developments (CIDs) as a means to maximize land use and offer Homebuyers convenient, affordable housing. The two most common forms
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10/11/2006
Title Insurance: As a homebuyer, the term is probably familiar -- but is it understood? What is your dollar actually paying for when you purchase a title policy? Title Insurers, unlike property or casualty insurance companies, operate under the theory of risk elimination. Title companies spend a
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10/11/2006
