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Proposition 13 and its affect on California foreclosures is a subject worth spending a few minutes pondering, especially as California undergoes its struggle to deal with the rate of its foreclosures and also because California has such an out sized affect on the rest of the country eventually whenever something goes on there. Prop 13 is the famous anti-tax initiative passed in 1978, by the way.

Officially, Prop 13 is called “The People’s Initiative to Limit Property Taxation.” It’s an amendment to the Constitution of California that caps taxes on property and real estate at a predetermined level. These property tax rates were held to 1% of value, which in some cases led to a reduction in tax rates of up to 60%.

Many people are turning to foreclosed property as a source of business investment or even for personal use. Although there are benefits for purchasing foreclosed properties, this decision must be taken seriously because of the risks involved. Connecticut foreclosure properties are no exception.

Find a property that fits your needs and your financial budget. Actually finding a home that meets both standards and budget may be difficult and may need some patience. Once you have found a potential home, do your research. Educate yourself on the property and other factors that may influence your purchase.

For a lot of people, they have always paid their mortgage payments on time. As the U.S. economy takes it toll with a gloomy outlook on jobs coupled with the plague of underwater homes or fallen home prices, many homeowners discover themselves to be financially squeezed after experiencing severe loss of equity on their homes.

Homeowner Brian whose full name remains concealed for privacy reasons, was always on time with his mortgage payments. He was of the opinion that paying down the mortgage balance was something he aspired to do. His opinion changed when he watched the value of his home falter thus making him question whether it was anymore worthwhile making mortgage payments.

If you run into a great deal of debt, and find that your house value has diminished to below fifteen percent, then its the right time to avoid a Minnesota foreclosures by filing for a Chapter 13 bankruptcy order. Before you rush into anything, make sure you do some thorough calculations to ensure that there is enough money from the sale to pay off debts. Once having made an appraisal, it should be a simple matter of either selling or fighting the foreclosure.

Making the purchase of a Connecticut foreclosure can be a great choice if you are looking for a new place to live. There are a lot of options to choose from and you can find a house at a reasonably discounted price. If this seems like an option that you may be interested in but you are new to the topic of foreclosure, consider some of the following.

Many real estate investors are grabbing up bargains at real estate foreclosure sales. It is true that you can currently get some fantastic bargains, but some of these may be too good to be true. There is a great deal of danger in buying an Arizona foreclosure at this time, no matter how good the deal sounds. The following tips should help you negotiate your way through the potential minefield of buying a foreclosure in the state of Arizona.

Purchasing an Arizona foreclosure is a process that can be made very easy and painless. The purchasing of a foreclosed property may be painless but it can become complicated with various legal loops and curves. Having questions is normal so do not be afraid to ask a local real estate agent about any concerns or fears you may have about the procedure.

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