Are you a Minnesota Landlord? If you are, don't forget to mail your tenant their CRP for 2009. For new MN landlords, a CRP stands for Certificate Of Rent Paid. It is a form that allows the tenants to get a tax deduction for some of the rent they've paid. Because our state is facing a huge bud
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12/24/2009
Here are a couple of solutions/options: *Loan Reinstatement--Bring the loan current *Loan Forebearance--Temporary repayment plan *Refinance--New loan with reduction in monthly payments *Loan Modification--Modify original loan terms *Sell The Property--Use equity to payoff or pay the difference *R
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12/17/2009
1. Financial Help for Homeowners Displaced by Foreclosure New Pilot Program for Former Homeowners in Dakota, Ramsey and Washington Counties The Minnesota Home Ownership Center is pleased to announce a new pilot program that may assist families AFTER the foreclosure of their home with up to
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12/14/2009
I found a great website at http://www.IRAlending.com that lists the custodians for both of these types of real estate holding vehicles. In the era of when cash is king in making offers, you might want to consider these strategies. If you don't need the cash profits to live on, and you don't li
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12/14/2009
If you have an investment property, want to buy a different property(ies) and want to defer the taxation on your profits by staying in the real estate business (through retention of some qualified "like kind" investment property) then you should definitely consider utilizing a 1031 tax free excha
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12/13/2009
Did you know that in Minnesota there are 15.5% of the homes that have negative equity and 4.9% have near negative equity? That means there are a number of homes-over 20%-that are at risk of default. Being underwater, doesn't necessarily mean that a borrower will default, but it does increase th
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12/07/2009
Did Anyone Expect This?By Rob Minton & John MazzaraThe National Association of Realtors last week released statistics for sales of existing homes in October, and, holy cow, the numbers are incredible. Sales spiked more than 10 percent from September and more than 23 percent from October of last y
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12/07/2009
Big Big Big news!!!! The treasury has finally created some guidelines that lenders are supposed to follow in how they resolve a short sale. A short sale is where a lender agrees to accept less than is owed on a home mortgage. This is normally done when there is a hardship. A hardship occurs w
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12/03/2009
A good friend of mine has just assembled a holiday gift guide. Unlike other gift guides, this one has a unique twist of having a business recommend a gift to a non profit. How cool is that? Let's face it, most of us have enough of most everything. On the other hand, helping others is really
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12/01/2009
How will this help Minnesotan's who need a modification? Well, it remains to be seen, but the fact that loan modifications are being addressed on a national level is very exciting. Now if we could only get a national referendum on how lenders will deal with short sales, we'd have the first st
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11/29/2009
