Your home may have been an expensive ATM machine. When the Portland real estate market was hot, the fees for refinancing and equity lines seemed minor compared to the cash that it could release, us included. Some of the money went to house related projects, some did not. Here’s the rub and you need to… Continue reading Real Estate Cash Out Refinancers May Owe IRS

The Home Buyer Credit came to an end on September 30th, 2010 and is now mostly forgotten.  Now’s as good as time as any to remind you to consult your accountant about the Credit if you received it and are thinking about selling or moving out.  There were various iterations of the Credit.  The 2008… Continue reading Home Buyer Credit- One Year Later

The Obama’s stimulus package has altered the the First Time Buyer Credit to be a true credit and not a loan that must be repaid.  The two images here show how the IRS defines who is and is not qualified to take the credit in 2008 and are taken directly from IRS Form 5045 for… Continue reading Who is a First Time Buyer According to the IRS?