home equity to pay

MSN Money - The hazards of some home-equity loans MSN Home Hotmail My MSN Sign In Money S earch MSN Money: Help Home News Banking Investing Planning Taxes My Money Portfolio Loans Insurance Banking Home My Accounts Bill Pay Mortgages/Loans Services Credit Reports Financial Tools Track your bills Resources Decision Centers Home Buying Guide Home Financing Your Credit Rating Financial Privacy Better Banking Credit Card Smarts Bankruptcy Guide Commentary Index Related Links Manage Debt More on Budgeting Print-friendly version Send this to a friend See where rates stand Calculate your debt burden here Find a home-equity loan Find books on home buying Find It! Article Index Finance Q&A Tools Index Site Map Don't get fooled by the "special programs" offer mentioned in advertisements. Today's homeowners have forgotten -- or never learned -- the lessons of their grandparents. Recent articles by Terry Savage: • How to limit divorce's financial sting , 1/5/2003 • 5 financial steps to help your aging parents , 1/5/2003 • Prepare for the unthinkable: long-term care , 1/5/2003 More... The Basics The hazards of some home-equity loans advertisement What looks like an easy way out of debt could one day put your family out on the street. Get the facts behind those enticing ads for 125% home-equity loans before you put your home on the line. By Terry Savage What looks like a great deal, but could turn out to be the most devastating financial decision of your life? It's when you consolidate credit-card debt by taking out home-equity loans for more than the value of your house, sometimes for up to 125% of the home's value. Unlike traditional home-equity loans that rely on the equity you've built up in your home, these loans aren't tax deductible and usually carry higher interest rates. Find a loan that's right for you at the Loan Center By television, direct mail and now by e-mail, lenders are pushing you to consolidate your credit-card debt by borrowing on your home. Here's the text of an actual e-mail I received recently: Consolidate Debt, Refinance Your Home or Put Cash In Your Pocket! We Have Special Programs with rates starting as low as 2.5% APR 7.22% Special Programs for Self-Employed Borrowers Previous Bankruptcies or Foreclosures OK!! Debt Consolidation - pay off high-interest debts and get the cash you need Second Mortgages - get 125% of your home's value. The television commercials make it look easy and enticing. A top athlete, like quarterback Dan Marino, offers you the chance to cut your monthly payments, pay off your credit cards and take out extra cash to remodel your kitchen or go on a vacation. But think twice. It's important to understand the risks, as well as the attraction, of those lower monthly payments. For some, this is the way to go For many people, a home-equity loan is indeed the smart way to borrow. The interest rate is typically lower, and the interest is tax deductible. Plus, home-equity loans are amortized over about 15 years vs. about four years for credit cards. That means the monthly payment on a home-equity loan is far lower than a minimum required credit-card payment. For example, if you owe $10,000 on your credit card at 15%, you'll probably have a monthly payment of $278. But the same amount owed at 15% on a home-equity loan that's amortized over 15 years results in a monthly payment of only $140. The more you owe, the more enticing a home-equity loan looks. At $20,000 in debt in the same scenario, the home-equity loan costs $280 a month, while the credit card and/or auto debt requires a $557 monthly payment. The trouble comes when people borrow all their home equity to pay off their debts, but they haven't learned how to manage their money well enough to avoid running up credit-card debts and auto-loan debts again. In fact, the lenders have a name for this process: It's called "reloading." Then, if the economy slows or one of the breadwinners loses a job, the next time you get into credit-card trouble, you could actually lose your house. Statistics from the Mortgage Bankers Association underscore the problem. The percentage of homes foreclosed in 1998 was 1.16%, about double the rate of the terrible recession years of the early 1980s, when 0.59% of homes were in foreclosure. The rising foreclosure rate comes even as bankruptcy rates remain high, with 1.2 million filings in 1999. But as people try to avoid bankruptcy, they're increasingly taking out home-equity loans to pay off their other bills. As a result of those home-equity loans (and new mortgage programs designed to help people buy homes with down payments of less than 5%), Americans have a lower percentage of equity in their homes than at any time in history. Essentially, an unsecured loan The real kicker comes if you borrow past the value of your home. Unlike home-equity loans, these loans usually are not considered tax deductible. The law says that all interest on a first mortgage (of up to $1 million) is deductible. And interest on up to $100,000 of a second mortgage or home-equity loan also is deductible. By law, interest on any part of a loan that exceeds 100% of the value of your home is not deductible. In addition, lenders typically charge higher rates, because you've essentially taken out an unsecured loan. An unsecured loan means there is no collateral in case you default on the loan. A mortgage for up to the value of your home is "secured" by the home itself. Many lenders charge interest rates seven or eight percentage points higher than traditional mortgages. In some cases, that's twice what you'd pay for a regular mortgage or home-equity loan. Don't get fooled by the "special programs" offer mentioned in advertisements like the one I mentioned earlier, either. They're either introductory loans, which require large "balloon payments" several years later, or adjustable rate loans in which the rates -- and the payments -- can increase every year. As long as the loan is repaid, it's very profitable. And the lenders know that paying off mortgage or home-equity loans takes a high priority in a consumer's mind, so the default rate is far lower than on unsecured credit-card lending. SMR Research, a financial industry market-research firm, reports that about 30% of all home-equity loans are sub-prime. That is, these are loans made to borrowers who are considered a poor credit risk -- the very people most likely to be caught in the crunch when the economy turns down. Bankruptcy: the only escape The greatest danger for those who fall for this pitch is the fact that they've put their home on the line. If they fail to make the payments, the lender can force the home to be sold in a foreclosure proceeding. The grantor of the original mortgage must be paid off first; then the home equity lender collects what's left from the sale price. And if there's not enough equity to repay the home equity lender, a default judgment will be entered against the borrower for the difference. The only escape is bankruptcy. The generation that went through the Great Depression of the 1930s learned the hard way not to borrow against the family home. So many people lost their homes that by 1935, banks categorized 20% of all mortgages as "real-estate owned" -- that is, foreclosed. But today's homeowners have forgotten -- or never learned -- the lessons of their grandparents. Rising home prices have tempted homeowners to count home equity as a source of ready cash. But that kind of home equity borrowing should only be done as part of an overall financial plan and a disciplined approach to money management. Otherwise, today's easy way out of debt could one day put your family out on the street. Editors' choice Don't get scammed by your mover Safeguard your Social Security number 5 ways to tap into the onshore drilling boom Your checkbook just became obsolete Turn $1 a day into $67,815 Readers' choice Ratings Top 5 Articles 9.30 Zombie debt collectors dig up your old mistakes 9.24 Keep thieves out of your bank account 9.22 Credit reports now free for entire U.S. 9.19 10 ways to avoid outrageous hospital overcharges 9.17 Tax breaks for Katrina victims -- and all of us View all top rated articles More Resources · E-mail us your comments on this article · Post on the Your Money message board · Get a daily dose of market news S earch MSN Money tips advertisement MSN Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances. © 2005 Microsoft MSN Privacy Legal Advertise Feedback Help

Buy House

WHAT TO DO ABOUT TAX WHEN YOU BUY A HOUSE FAQ's Select a FAQs Category Capital Acquisitions Tax Capital Gains Tax Employer Information Corporation Tax Customs & Excise Revenue Audit Value Added Tax (VAT) Vehicle Registration Tax What to do about Tax when you buy a house Do I need to tell the tax office if I buy a house? Can I claim tax relief on my mortgage? What is a sole or main residence? To help with the mortgage repayments, I intend letting part of my house. What tax relief can I claim against my personal income tax and against the rental income? Does residence only mean a house? Can I claim tax relief on a loan for home improvements? What can the loan be used for? How much tax relief will I get? How can I claim the relief? If I sell my house will I have to pay Capital Gains Tax? What happens if I had let part of the house or used part of the house for business purposes? What happens if my property has "development value"? 1. Do I need to tell the tax office if I buy a house? Yes - you should inform the tax office as soon as possible so that all correspondence can be sent to your new address. » Back to Top 2. Can I claim tax relief on my mortgage? Yes - if the house is situated in the State, Northern Ireland or Great Britain and is used as your sole or main residence. » Back to Top 3. What is a sole or main residence? A sole or main residence is the residence which is your home for the greater part of the time. It does not have to be owned by you e.g. your parents residence may also be your sole or main residence, if you normally live there. » Back to Top 4. To help with the mortgage repayments, I intend letting part of my house. What tax relief can I claim against my personal income tax and against the rental income? In this situation, part of the mortgage interest may be claimed as a normal interest credit against your personal income tax. However, the balance of the interest may not be claimed as a rental deduction. The mortgage interest applicable to the let part of the house will be determined on a just and reasonable basis. For example, the apportionment of the interest may be by reference to the number of rooms let. » Back to Top 5. Does residence only mean a house? No. It also includes: A flat Any garden or grounds of an ornamental nature which are used along with the house or flat A Mobile Home/Caravan - provided it: Is on a permanent site Is of a reasonable size to fulfill the requirements of use as a permanent residence Has electricity and other services supplied to it Is immobilised (i.e. wheels removed and mounted on blocks). 6. Can I claim tax relief on a loan for home improvements? Yes. You can claim tax relief on a loan used by you to purchase, repair, develop or improve your sole or main residence or to pay off another loan (or loans) used for that purpose. » Back to Top 7. What can the loan be used for? The loan can be used for most work done on your sole or main residence except for money spent on furniture or removable fittings (e.g. light fittings, curtains, carpets etc.). Examples of what the loan may be used for are: Extensions, purchase/construction of garage, garden shed, greenhouse etc. Construction of driveway, path etc. Conversions, painting and decorating Installing central heating Rewiring or replumbing (including bathroom suites) Replacing or installing windows Purchase and/or installation of burglar/fire alarms Purchase and installation of bedroom and kitchen units which are affixed to and become part of the building Treatment for damp, dry rot, woodworm etc. Landscaping gardens (including garden walls) Contributions to group water and sewerage schemes. » Back to Top 8. How much tax relief will I get? Tax relief is granted on the amount of the interest paid, at the standard rate subject to the overall limits as set out in Leaflet IT60 (Home Loan Interest Relief - 2000/2001 onwards) . Special provisions apply for "First Time Buyers". The period for which relief is available is 7 years (this does not apply to mortgages taken out before 6 April 1998). » Back to Top 9. How can I claim the relief? From 1 January 2002, tax relief for home mortgage interest is no longer given through the tax system but is instead granted at source. This means that your mortgage lender gives you the benefit of the tax relief element on the mortgage interest on behalf of the Revenue Commissioners. Your mortgage repayment is reduced by the amount of the tax relief. Your lender in turn claims this amount from Revenue. Any future adjustments in the tax relief (for example, arising from changes in interest rates) will be made automatically by the lender on behalf of Revenue. It is not be necessary to claim mortgage interest relief in the annual tax return, and it no longer appears on your Notice of Tax Credits. Borrowers who are taking out new mortgages must complete a TRS1 form. Your lender will supply you with a TRS1 form. Forms can also be obtained from the TRS Section, Collector-Generals, Sarsfield House, Francis Street, Limerick. Further details are available on the Leaflet TRS (Mortgage Interest Tax Relief at Source) . » Back to Top 10. If I sell my house will I have to pay Capital Gains Tax? No. If the house (including grounds of up to one acre) has been occupied as your sole or main residence throughout your period of ownership you will be exempt from capital gains tax on the sale. » Back to Top 11. What happens if I had let part of the house or used part of the house for business purposes? Full exemption may not be due if only part of the house has been used as your residence. In this case an apportionment will be made to arrive at the exempt portion of the total gain and you will have to pay capital gains tax on the balance. » Back to Top 12. What happens if my property has "development value"? Where your property has development value i.e. if it is sold for a price higher than its normal current use value then the relief from capital gains tax as outlined above is confined to what it would be if the property did not have development value. » Back to Top

house rental Home Page

Rentals Hawaii vacation rental - condo / house - Kihei - Maui Hawaii Wailea - Maui Hawaii Kaunakakai - Molokai Hawaii Poipu Beach - Kauai Hawaii Waikoloa - Hawaii Hawaii Makaha - Oahu Hawaii Kapalua - Maui Hawaii Punalu'u - Oahu Hawaii vacation condo or house rental Home Page = USA Vacation Rentals = Hawaii Vacation Rentals Rentals in Hawaii Vacation Rental Properties A new window will open for each individual rental property clicked on. (#) - pictures - availability calendar Vacation Property for rent in Hawaii include: (cities are added as listings become available) 2005-12-29  Kapalua - Maui Makaha - Oahu Waikoloa - Hawaii Kaunakakai - Molokai Poipu Beach - Kauai Wailea - Maui Kihei - Maui Punalu'u - Oahu Kapalua - Maui Hawaii vacation rental return to top of Hawaii page or return to state list of USA vacation rentals Kapalua - Maui Hawaii vacation rental Kapalua Ridge Oceanview Condo Ocean and Sunrise Views (3) Listing #100 Kapalua - Maui Accom:  1 Bedroom 2 Full Baths Condo Sleeps up to 4: Weekly Rate (USA Dollars): $1120.00 - $1330.00 Kaunakakai - Molokai Hawaii vacation rentals return to top of Hawaii page or return to state list of USA vacation rentals Kaunakakai - Molokai Hawaii vacation rentals Luxury Oceanfront Condo Adults Only - No Smoking (3) Listing #146 Kaunakakai - Molokai Accom:  1 Bedroom 1 Full Bath Condo Sleeps up to 2: Weekly Rate (USA Dollars): 735 - 735 Kihei - Maui Hawaii vacation rental return to top of Hawaii page or return to state list of USA vacation rentals Kihei - Maui Hawaii vacation rental Sugar Beach Oceanfront Condo 5 Miles of Open Beach (1) Listing #198 Kihei - Maui Accom:  1 Bedroom 1 Full Bath Condo Sleeps up to 4: Weekly Rate (USA Dollars): $875.00 - $1435.00 Kihei - Maui Hawaii vacation rentals Nice Maui Beach Condo-$85+FUN Fab 1BR, slps 4, nr. #1 beach Listing #407 Kihei - Maui Accom:  1 Bedroom 1 Full Bath Condo Sleeps up to 4: Daily Rate (USA Dollars): 85 - 125 Kihei - Maui Hawaii vacation rental Ground Floor Ocean Front Deluxe Condo with Master Suite Listing #71 Kihei - Maui Accom:  2 Bedrooms 2 Full Baths Condo Sleeps up to 6: Weekly Rate (USA Dollars): 826 - 1190 Makaha - Oahu Hawaii vacation rentals return to top of Hawaii page or return to state list of USA vacation rentals Makaha - Oahu Hawaii vacation rentals AFFORDABLE & BEACHFRONT MAKAHA Spectacular 180 Ocean View (3) Listing #255 Makaha - Oahu Accom:  1 Bedroom 1 Full Bath Condo Sleeps up to 2: Weekly Rate (USA Dollars): $795 - $945 Poipu Beach - Kauai Hawaii vacation rental return to top of Hawaii page or return to state list of USA vacation rentals Poipu Beach - Kauai Hawaii vacation rental Views of Spectacular Sunsets Beach Just a Short Walk Away (3) Listing #96 Poipu Beach - Kauai Accom:  2 Bedrooms 2 Full Baths Condo Sleeps up to 4: Weekly Rate (USA Dollars): $975 - $1225 Punalu'u - Oahu Hawaii vacation rentals return to top of Hawaii page or return to state list of USA vacation rentals Punalu'u - Oahu vacation rentals Hawaii Beachfront Rentals Oahu's North Shore in Punalu'u (3) Listing #121 Punalu'u - Oahu Accom:  1 Bedroom 1 Full Bath Condo Sleeps up to 4: Weekly Rate (USA Dollars): $795. - $995. Waikoloa - Hawaii Hawaii vacation rental return to top of Hawaii page or return to state list of USA vacation rentals Waikoloa - Hawaii Hawaii rental Waikoloa Beach Resort OceanView Unit (3) Listing #215 Waikoloa - Hawaii Accom:  2 Bedrooms 2 Full Baths Condo Sleeps up to 6: Weekly Rate (USA Dollars): $1050 - $1050 Wailea - Maui Hawaii vacation rentals return to top of Hawaii page or return to state list of USA vacation rentals Wailea - Maui Hawaii rentals Wailea Ekahi Village 20E Beautiful Beachfront Location (3) Listing #240 Wailea - Maui Accom:  1 Bedroom 2 Full Baths Condo Sleeps up to 5: Daily Rate (USA Dollars): $195 - $240 Wailea - Maui Hawaii vacation rental Wailea Ekahi Village Condo 20A 2 Bedroom Maui Owner Rental (3) Listing #405 Wailea - Maui Accom:  2 Bedrooms 2 Full Baths Condo Sleeps up to 6: Daily Rate (USA Dollars): 335 - 390 Wailea - Maui Hawaii vacation rentals Wailea Ekahi Ocean View Condo Oceanfront Village (3) Listing #98 Wailea - Maui Accom:  1 Bedroom 1 Full Bath Condo Sleeps up to 4: Weekly Rate (USA Dollars): 1365 - 1540

Denver Real Estate Resources

Webolutions Resources - Denver Homes&Real Estate, Colorado Townhomes What's New? Current Projects Speaking Schedule Print our Complete Services Brochure Resource Center Denver Real Estate Resources Colorado and Wyoming Real Estate School Colorado and Wyoming Real Estate School with the best pass rate. Maureen Grzybowski Real Estate - Colorado Real Estate Maureen Grzybowski provides professional real estate agent services serving the Colorado area located in Denver, Colorado. Denver Square Condos - Loft Development The Denver Square Condos offer a perfect blend of classical loft design and turn-of-the century architecture as well as an "Urban Village" ambiance located in one of Denver's most vibrant neighborhoods. Denver Executive Suites & Office Space We have executive office suites in Denver, Colorado providing a prestigeous and professional executive environment for you and your visiting clients. Home Land For Sale In colorado Colorado land home for sale , ranch and ranch land investment transactions for clients from most of the United States as well as from foreign countries. Estate Planning Attorney Services Estate planning law office specializing in will and trust administration, conservatorship, probate, guardianship, and litigation in these areas. Denver Colorado Homes & Real Estate The Kentwood Company of Denver Colorado is a real estate broker specializing in helping you when buying or selling homes in the Denver metro area. Businesses For Sale in Denver, Colorado Sanborn & Company lists businesses for sale in Denver, Colorado, as well as acquisitions and valuations of restaraunts, bars, hotels and liquor stores in Colorado. Back To Web Resources Services | Case Studies | Free Consultation | FAQs | Company Profile Client Login | Print PDF Brochure | Contact Us | Home Webolutions 303-300-2640 | 800-657-6055 | 303-300-2645 fax | info@webolutions.com Click Here for a Map and Directions to our main office Denver 6160 S. Syracuse Way Suite 120 Greenwood Village, Colorado 80111

Texas Land 700 West

Jerry Patterson For Texas Land - Community & Social Services - Austin, TX, 78701-2727 - Citysearch 7 BOC Spa & Beauty: 7 days till voting begins -- New to Citysearch? Sign In · Help · Dec 29 2005 Home Restaurants Bars & Clubs Hotels Shopping Spa & Beauty Movies Events See More Categories » Search Business name, category, and/or keyword Search by name only Address, city & state, or zip | Neighborhood Address, city & state, or zip | Neighborhood Address, city & state, or zip | Airport Address, city & state, or zip | Attraction Select a Austin Neighborhood Arboretum Bergstrom Airport Buda CedarPk/Leander Downtown Austin East Austin Georgetown Hill Country Hyde Park Lake Travis North Austin Northeast Austin Northwest Hills Oak Hill Round Rock/Pflugerville San Marcos South Austin Southeast Austin Tarrytown Travis Heights University of Texas - Austin West Austin West Lake Hills Select an Austin Airport Select an Austin Attraction My Locations Add/edit locations Recent Locations Clear recent locations Save to My Citysearch Printer Friendly Version Home · Yellow Pages · Community & Social Services · Political Organizations · Profile Jerry Patterson For Texas Land 700 West Ave Austin, TX 78701-2727 (512) 477-2427 7.6 Overall Popular About our ratings Ratings feedback Send to a Friend Own this business? » Enhance or edit your listing See something wrong? » Suggest a correction Things to do nearby: 700 West Ave Austin, TX 78701-2727 · Restaurants · Hotels · Bars · Movie Theaters · Department Stores · Shopping Centers & Malls · Grocery Stores · Pharmacies · Florists · Banks Related Searches · Austin Community & Social Services · Austin Political Organizations Community & Social Services · Search anything in Austin · Search Yellow Pages in Austin · Search other Cities · Browse Austin Editorial Lists Related Editorial Content Dog-Friendly Austin We've sniffed out the city's best spots for a full day of doggie nirvana. So grab a leash and lap up the fun. Sail On Find a sport on the water that uses your muscles. Downtown Walking Tour The must-dos of downtown. View More » Driving Directions 1. Enter starting address: Address: City: State: Postal Code: 2. Enter destination address: Address: City: State: Postal Code: Options Display type: Text Turn by turn maps with text Avoid the following: Limited access highways Toll Ferry lanes Find A Different Location Enter Location Address: Address: City: State: Postal Code: About Us | Advertise with Us | Contact Us | Press Center | Site Guide | List Your Business on Citysearch | Become an Affiliate | Job Opportunities | Other Cities | Get a Business Website | Submit an Event | Privacy Policy | Terms of Use | Austin Yellow Pages Citysearch is a registered trademark of 720619 Ontario Inc. and is used under license (C) 2005 Citysearch.com All rights reserved. partner sites: Evite - Entertainment.com - Gifts.com - TripAdvisor - ServiceMagic - Ticketmaster - Expedia - Hotels.com - Hotwire - HSN - LendingTree - Match.com - RealEstate.com - ReserveAmerica - Zerodegrees - CondoSaver - ClassicVacations - Ballard Designs - Frontgate - Garnet Hill - Smith+Noble - The Territory Ahead - Travel Smith