Home Equity Loan – Beware of equity stripping scam

Written by Charles Essmeier


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increasingly common in today’s market is a lending scheme known as “equity stripping.” A homeowner applies for a home equity loan, or perhaps applies to refinance their home. A lender then encouragesrepparttar homeowner to borrow more money than they can afford, and perhaps “assists” by falsifying some information onrepparttar 137812 application. The lender does this with hopes thatrepparttar 137813 homeowner will default onrepparttar 137814 loan. Whenrepparttar 137815 homeowner defaults,repparttar 137816 lender forecloses onrepparttar 137817 property, sellsrepparttar 137818 property, and keepsrepparttar 137819 home’s equity as profit.

This is one of many scams that can currently be found inrepparttar 137820 mortgage industry, and one that can be avoided if potential borrowers will takerepparttar 137821 time to do a bit of research before signing onrepparttar 137822 dotted line. Homeowners who are interested in refinancing their home should investigate prospective lenders before doing business with them. Contacting friends who have recently refinanced orrepparttar 137823 local Better Business Bureau would be a good place to start. Lenders who call you out ofrepparttar 137824 blue or knock on your door are probably best avoided.

©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a Website devoted to debt consolidation information and HomeEquityHelp.net, a site devoted to information on home equity loans.


Understanding Basic Tax Terms

Written by Ryan Fyfe


Continued from page 1

Capital Loss Capital Gain refers torepparttar amount of money Lost on Capital during a given tax period. For example if you own a house, and overrepparttar 137797 past yearrepparttar 137798 value of your house decreased by twenty thousand dollars, you would have to claim this twenty thousand dollars as a capital loss in your income taxes.

Child Tax Credit Child tax credits are tax credits that are given torepparttar 137799 caregivers for each dependent child, that atrepparttar 137800 end ofrepparttar 137801 tax year is under 17.

Flat Tax Flat tax refers to a system where everyone is taxed atrepparttar 137802 same rate, regardless of how much they earn.

Gross Income Gross income is an individuals or corporations total income before any taxes or deductions have been applied torepparttar 137803 sum.

Net Income Net Income isrepparttar 137804 total amount of income after all deductions and expenses.

Property Tax Property tax is a tax that is assessed on real estate value by a local government.

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Feel free to reprint this article as long as you keeprepparttar 137805 following caption and author biography in tact with all hyperlinks.

Ryan Fyfe is the owner and operator of Taxes Area. Which is a great web directory and information center on Taxes and related issues like Income tax and property tax.


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