Shopping mall must allow protest against tenant
A shopping mall cannot prevent a union from leafleting in front of a tenant’s store to urge a boycott of the store, according to the California Supreme Court. The union in this case represented employees of a San Diego newspaper. Union members wanted to protest outside a department store in the mall, urging shoppers not […]
Fannie Mae stops evicting tenants of foreclosed homes
Fannie Mae has announced a national policy under which it will no longer immediately evict tenants from homes on which it forecloses. Under the policy, the mortgage giant will in effect become a landlord or property manager for many homes where there is a foreclosure. Renters often face a difficult situation when a property is […]
New rules for mortgage appraisals
Starting May 1, 2009, new rules will apply to most appraisals of single-family homes requested by banks as part of the mortgage process. Lenders will have to comply with these rules in order to have their mortgages purchased by Fannie Mae or Freddie Mac. The new rules are part of an effort to keep appraisals […]
Get an $8,000 tax bonus if you buy a home by November 30, 2009
The recent economic stimulus law contains a big tax break for first-time homebuyers: If you buy a home by November 30, 2009, you can claim an $8,000 tax credit. Congress had previously approved a similar credit, but it had required homebuyers to pay back the money over time. In effect, it was an interest-free loan. […]
USDA program helps many people afford a home
A little-known mortgage program operated by the U.S. Department of Agriculture – that’s right, the same agency that inspects and approves the meat in grocery stores – is enabling many people to afford a home even if they can’t come up with a traditional down payment because of the economic downturn. The program is designed […]
Credit card companies make it harder to get a mortgage
Some people are finding it harder to get a mortgage these days … because of their credit card company. Why? Because credit card companies have reacted to the recent economic downturn by reducing many cardholders’ credit limits and cancelling inactive cards. The companies’ goal is to reduce the risk of non-payment. The problem is that […]
You might be paying too much in property taxes
Many people are paying too much in property taxes, and may be eligible for a reduction or a refund. Property taxes are calculated by taking the assessed value of your home and multiplying it by the local property tax rate. But since home prices in so many areas have decreased recently, it’s possible that the […]
Gift tax exclusion increases to $13,000 in 2009
The amount that you can give to someone without having to pay the federal gift tax has been increased to $13,000 a year, effective for 2009. The previous maximum was $12,000 a year. Many people will want to take advantage of this new limit to increase their annual giving as part of their estate plan. […]
Landlord can’t be sued for one tenant’s harassment of another
Even if a black tenant’s family was subjected to racist comments and verbal abuse by a white tenant’s family, the black tenant can’t sue the landlord, says the Ohio Supreme Court. The black tenant claimed she kept an extensive record of the harassment and reported each incident in writing to the landlord. However, the landlord […]
Estate tax takes less of a bite – but planning now is still critical
Starting in 2009, you can leave $3.5 million to your heirs before the federal estate tax kicks in – up from $2 million previously. And in 2010, the estate tax is slated to be repealed altogether. But contrary to what some people think, that doesn’t mean you don’t need to worry about estate planning!