If you plan on selling a home in Colorado Springs and have a finished basement that has not been issued a permit, you may run into problems when selling your Colorado Springs home. For example, if the buyer is obtaining VA financing, the buyers’ VA loan will not be approved because it will not pass VA’s […]
You are probably paying Private Mortgage insurance (PMI) if you put less than 20% down on your home purchase; PMI protects your lender in the case buyers default on their loan.In addition to the initiation of the Mortgage Forgiveness Debt Relief Act of 2007, President Bush extended the PMI tax deduction through 2010. Homeowners are eligible […]
Sellers in Colorado Springs need to research the tax and economic consequences prior to making the decision of whether or not to short sale their home. Until recently, homeowners who sold their home through the short sale process would be 1099ed for the difference. The homeowner used to be required to pay taxes to Uncle Sam […]