How To Reduce Your Property Taxes, Low Interest Rates, $15,000 Bonus Tax Credit

February 12, 2009 by Doug Mitchell 

My father always says, "It's not how much money you make, but it's how much money you keep that matters."  I was fortunate that real estate was a second language to me, growing up with a father who is a CPA and real estate investor (he has spoken at some of our workshops). 
 
Unfortunately, 97% of Americans do not have enough money to retire on.   People are getting smarter, however, and becoming educated on home matters, mortgage options, investing options and finance options.  At our workshops, luncheons and meetings, we teach people and provide mentorship so that we can all take part in changing and helping each other.
 
Lisa, my team and I believe that by teaching our family, friends, employees, clients, network, we can all be part of the solution!
 
Keep your questions coming.  My team and I will take the time to answer all your mortgage, real estate questions and refer you to realtors in our network, attorneys, etc. 
 
Expect expert advice when calling me or my team! 

Also:  The Solomon Free Money Hour is celebrating 3 years and over 240 radio talk shows and Solomon Financial's 19 years in business.

Want to reduce your Property Taxes? In many neighborhoods in California, Nevada, Florida, etc. we have seen property values drop considerably in the last 2 years as much as 40-60% here (in most areas) in Southern California.  After the Northridge Earthquake, so many people fled So Cal and headed for places like Vegas, but the population continued to grow here in So Cal.  Over the next 10 years it is estimated that 3.5 million more people will be living here in So Cal (from Santa Barbara down to San Diego). While we watched the median home prices in the Southern California Real Estate market drop over 20% from 1990 - 1995 and even more than that here recently, when more people are moving into an area than moving out, guess what happens to rental and home prices over time? 

 
So, if you are one of the lucky ones who are able to afford their current mortgage payment and would like to lower your property taxes, now is a great time to do that with values dropping as much as they have.  A lot of our clients that still have equity, are refinancing their mortgages and also lowering their property taxes simultaneously, since we already have an appraisal from their refinance transaction.  We kill two birds with one stone - lower their mortgage payment & property taxes.
 
"I used the Solomon Team and got 4.75% on a 30 year fixed and saved over $2,000 a year on my property taxes."  John M.  San Diego, CA
 
Guess what?  When home values drop, it is very easy to reduce your property taxes.  So, if you bought a home in 2003 or after, you probably have a great case to lower your property tax bill. We can do a property profile and look at the recent sales in your neighborhood (at no charge) to see how much we can lower your property tax bill.  Simply go to: Free Property Profile

Now, if you want to learn how to get into this business of helping people lower their property taxes, you should make plans to attend our next workshop - March 5th in San Diego (Mission Valley Hilton) & March 7th in Irvine (Irvine Doubletree).
 
Or, if you just want to lower your own property tax bill, we can help you with that as well.
 
For more information, e-mail info@sfmdirect.com

 
$15,000 Bonus Tax Credit

$15k bonus Tax Credit if you purchase a primary residence - Is it really going to happen?

Congress is actively considering an expanded home buyer tax credit, and the Senate has approved the following improvements: 

  1. The tax credit amount increases to $15,000.
  2. The tax credit is extended to anyone buying a principal residence (doesn't have to be a 1st time home buyer).                                                            
  3. The tax credit will apply to all purchases occurring within a year after the bill is signed into law.
  4. It is a true tax credit; it does not have to be repaid. 
Please call your Senators and urge support for the expanded home buyer tax credit. To reach your Senators, call 1-866-924-NAHB (6242).  As always, please consult with your CPA to confirm any type of Government tax credit - thanks!These enormous amount of job losses in the US Economy and this recession certainly has certainly created some potential buying & business opportunities.  
 
Attitude counts: your attitude may be more important than you think. Here's how to improve it - focus.  If you ask any successful business professional, he pr she will tell you that a positive attitude is the most important ingredient for getting ahead. Maintaining a positive attitude does take some work. 
 
You have to think outside the box today more than ever in order to survive!
 
The Economy Stinks and how this helps you: Read Press Release 
 
http://www.freemoneyhour.com/loancost.php or call your Solomon Financial consultant at 949-421-3744.
Interest Rates are at all-time record lows - you can get below 5% on a 30 year fixed.   It is a great time to purchase & refi.  In order to qualify today, you need to show proof of your income (pay check stubs - qualify full documentation) and have equity.  If you want us to check the value of your home to see if you have enough equity to refi, give us a call for free consultation:
949-421-3744.
 
Looks like the guidelines are changing back - You can own possibly up to 10 properties and still Refinance starting March 1st!!

Fannie Mae has issued Announcement 09-02, "Updates to Multiple Mortgages to the Same Borrower Policy, Reserve Requirements, Reserves Definition, and Form 3170." In what is good news for "professional borrowers" with multiple investment properties, Fannie Mae is changing their current limit of four financed properties per borrower when the mortgage being delivered to Fannie Mae is secured by an investment property or second home. They will allow "five to ten financed properties per borrower, with certain eligibility and underwriting requirements, including a 720 minimum credit score and 70-75% maximum LTV/CLTV/HCLTV (depending on the transaction and property type). The requirements apply to any investment property or second home loan being delivered to Fannie Mae, regardless of whether Fannie Mae is the investor on the borrower's other mortgages. Second home and investment property loans to borrowers with five to ten financed properties will be accepted for whole loan purchase or delivery into MBS with purchase dates on or after March 1, 2009, and new Special Feature Code 150 will be required at delivery." Brokers everywhere await Wells, Citi, Chase, etc. to follow.
 
Fox Channel 11 News is doing a Fox Undercover / Fox Investigates Story with us, so if you or any of your clients have a really interesting story to tell, please let us know so we can get them on the News. After our recent workshop, Fox 11 Interviewed Fred Solomon and attendees about their personal financial situations & what their options were before they lost their home to foreclosure.
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