A mortgage broker I know sent me an email today, that I figured i would share:

MI Tax Deductibility Extended Through 2011

The President has signed the bill extending Mortgage Insurance tax deductibility through December 31, 2011.

This makes it a great time to tell your customers how they can use MI to buy a home sooner and enjoy predictable payments, while benefiting by deducting the premiums from their income taxes. And MI can be canceled once the home buyer builds enough equity.

Details on Tax Deductibility for MI Remain Unchanged

• The home purchase or refinance loan must close between January 1, 2007 and December 31, 2011;

• Household income must be at or below $100,000 for a full deduction of premium;

• The premium deduction is reduced 10% for each $1,000 of income over $100,000;

• The premium deduction is prorated in the first year based on the month the loan closes;

• Applies to primary residence and one other residence purchased for personal use by the taxpayer;

• Monthly, annual, and single MI premiums are eligible. Financed premium deductions should be taken over a seven year period.

So here ya go! Spread the word.. still a great time to buy stamford CT Real estate!!!

Single Family Residential Properties

Single Family Residential Properties for Sale in Stamford, Connecticut Between $0 - $100,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $100,000 - $200,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $200,000 - $300,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $300,000 - $400,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $400,000 - $500,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $500,000 - $750,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $750,000 - $1,000,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $1,000,000 - $1,250,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $1,250,000 - $1,500,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $1,500,000 - $1,750,000
Single Family Residential Properties for Sale in Stamford, Connecticut Between $1,750,000 - $2,000,000

Multifamily Residential Properties

Multifamily Residential Properties for Sale in Stamford, Connecticut Between $0 - $100,000
Multifamily Residential Properties for Sale in Stamford, Connecticut Between $100,000 - $200,000
Multifamily Residential Properties for Sale in Stamford, Connecticut Between $200,000 - $300,000
Multifamily Residential Properties for Sale in Stamford, Connecticut Between $300,000 - $400,000
Multifamily Residential Properties for Sale in Stamford, Connecticut Between $400,000 - $500,000
Multifamily Residential Properties for Sale in Stamford, Connecticut Between $500,000 - $750,000

Commercial Properties

Commercial Properties for Sale in Stamford, Connecticut Between $0 - $100,000
Commercial Properties for Sale in Stamford, Connecticut Between $100,000 - $200,000
Commercial Properties for Sale in Stamford, Connecticut Between $200,000 - $300,000
Commercial Properties for Sale in Stamford, Connecticut Between $300,000 - $400,000
Commercial Properties for Sale in Stamford, Connecticut Between $400,000 - $500,000
Commercial Properties for Sale in Stamford, Connecticut Between $500,000 - $750,000
Commercial Properties for Sale in Stamford, Connecticut Between $750,000 - $1,000,000

IF you would like to set up an appointment to see any listings that interest you, please feel free to contact me :)

Nicole Borsey

A Dignified Alternative to Foreclosure...

Millions of homeowners today are having trouble paying their mortgages and don’t know what to do next. If you or someone you know is in this situation, a short sale may be your best solution.

A short sale is a dignified solution to foreclosure and can have a lesser impact on your financial situation. This includes your future eligibility and timing to secure a loan for a home.

Compared to short sales, the consequences of foreclosure are significant. To learn the benefits of a short sale and what this means for you, read my free report available here: http://www.NicoleHelps.com

As a CDPE-designated agent, I have extensive training in helping homeowners avoid foreclosure.
For a personal consultation on all of your available options, I’m just a call away ... and I’m here to help.

My CDPE site is: http://www.NicoleHelps.com

If you are looking for a Stamford CT rental, and you are a renter who is tired of paying someone else's mortgage and want to own your own home, there are many ways to buy a real estate; one of them is Rent to own (RTO) option, a means of acquiring ownership over time without taking on debt. The renter agrees to lease the home for a pre-determined time usually from one to three years. There may be an up-front consideration fee. The seller allows the buyer to lock in a monthly price for the property till it is paid off. This is a way to settle on something that is right for you even if you are not in the position to make an immediate purchase. A lease purchase can make your rent money work for you instead of making your landlord rich.

Similar to a rent to own for a TV you can have a rent to own for a piece of real estate. In this case most sellers that are willing to do this (and there is not many) will most likely want a non refundable deposit on the property, then you pay the landlord rent until you can purchase the property. This is similar to a lease option as well, except all you pay is rent. The deposit is much less than an option and you do not pay the taxes or the mortgage, since you are still a renter. The benefit of doing this is you get into your home with the intention of buying the house at a later date. A rent to own agreement, where the money goes directly to the payment of the home, could be saving you a lot of money in the long run.

This type of agreement works well with those who are new to the housing market or have made a job transition. It also is positive for anyone who needs to strengthen his/her credit or pay off an obligation to qualify for a home purchase. Another advantage to a rent to buy situation is that if you compare how much rent money is applied monthly to the home price, even if it is only 25-50%, it will still be much more money paid on the principal of the house than if you had taken out a loan for it. If you look at how much money goes to the principal payment of a home with a typical mortgage loan, you will find that most of your mortgage payment in the beginning is just paying interest on the loan. The best part about this is that with a rent to own home, you get to live in the home you want to buy while you work on fixing your credit up.

The biggest draw back to this is quite often the agreed upon price is a future price of the home. If you have a house that is valued at $350,000, a rent to own price would look closer to $370,000. That might seem like a rip off, but a lot cheaper than a rent to own with say a TV or other electronic where you would pay 2-3 times the price of the TV over a 5-year period.

This creative process of how to buy a rent to own house is becoming more and more popular because it creates a "Win - Win" scenario. The Buyer is able to get into a home with limited money and credit, and the Seller is able to get a fair price for their home and get it sold more quickly.