Q. I am getting ready to do my taxes (turbotax) and I'm not sure how to handle my interest I pay for my construction and land loan. I'm currently renting a home and paying interest on a 500K loan to build my house. Can I write that interest off? If yes, do I do it as if it's the home I live in? Only people that know for sure respond please.
A. Publication 936
Home under construction. You can treat a home under construction as a qualified home for a period of up to 24 months, but only if it becomes your qualified home at the time it is ready for occupancy.
The 24-month period can start any time on or after the day construction begins.
Home under construction. You can treat a home under construction as a qualified home for a period of up to 24 months, but only if it becomes your qualified home at the time it is ready for occupancy.
The 24-month period can start any time on or after the day construction begins.
Decor ideas for high ceiling in rented home?
Q. My fiance and I are renting a home with high, vaulted ceilings. It's not a charming old home--more like a shabby circa-70s Caifornia ranch with white walls and dated fixtures.
I'm from the Northeast, and I'm spoiled by historic homes that look chic no matter how you decorate thanks to the character of old-fashioned molding. But I'm a little lost as to how to make this one look quaint and artsy on a budget without painting or making major changes.
I'm from the Northeast, and I'm spoiled by historic homes that look chic no matter how you decorate thanks to the character of old-fashioned molding. But I'm a little lost as to how to make this one look quaint and artsy on a budget without painting or making major changes.
A. Placing wall art of mirrors a little higher than eye-level will take away from the height of the wall. Focus will appear on the items you have chosen for decoration.
Embrace the home ~ sounds lovely!
http://www.bargainbunch.com
Embrace the home ~ sounds lovely!
http://www.bargainbunch.com
What rights does one have if they are renting a home, and just found out it is being forclwed?
Q. My sister rents a home and pays her rent every month on time. She signed a one year lease in August. A mortgage company came to the house,, took pictures and served her with papers for the owner stating the house has been forclosed. What rights does she have to stay there? Her family has nowhere to go right now.
A. Your sister needs to start looking for a new place, pronto.
A foreclosure is not a sale or transfer of ownership, it's a repossession, the laws that apply when an owner sells a home that leased do not apply in this situation. The lease is completely void.
Bank's are not in the landlord business, and are quick to try to mitigate their damages by putting the home on the market as quickly as possible.
A foreclosure is not a sale or transfer of ownership, it's a repossession, the laws that apply when an owner sells a home that leased do not apply in this situation. The lease is completely void.
Bank's are not in the landlord business, and are quick to try to mitigate their damages by putting the home on the market as quickly as possible.
What rights does one have if they are renting a home, and just found out it is being forclwed?
Q. My sister rents a home and pays her rent every month on time. She signed a one year lease in August. A mortgage company came to the house,, took pictures and served her with papers for the owner stating the house has been forclosed. What rights does she have to stay there? Her family has nowhere to go right now.
A. Your sister needs to start looking for a new place, pronto.<BR><BR>A foreclosure is not a sale or transfer of ownership, it's a repossession, the laws that apply when an owner sells a home that leased do not apply in this situation. The lease is completely void.<BR><BR>Bank's are not in the landlord business, and are quick to try to mitigate their damages by putting the home on the market as quickly as possible.
Powered by Yahoo! Answers
No comments:
Post a Comment