Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
A mortgage escrow account, also known simply as an escrow account, is a financial arrangement set up by a mortgage lender to manage and disburse certain payments related to the property on behalf of the homeowner. The purpose of an escrow account is to ensure that essential expenses, such as property taxes and homeowners’ insurance,… Continue reading The Role of Mortgage Escrow Accounts in Property Tax and Insurance Payments
It’s important to evaluate your own financial situation before deciding whether to help your kids pay for their mortgage. Make sure that you can afford to provide financial assistance without jeopardizing your own financial security.
Owning a home can be an exciting and rewarding experience, but it’s important to be aware of the expenses that come with homeownership. Understanding these costs can help you prepare for and manage them effectively, ensuring a smoother transition into your new home.
Even though owning a home comes with some significant expenses, some of them are tax-deductible. With many people looking for ways to lower their income tax, there are a few expenses tied to the house that every homeowner should consider. This could make a significant difference in their final tax bills, and it could lead to a large tax refund.
When the chatter was at its peak on the 2018 tax law changes being proposed, one of the big areas of concern for homeowners was the elimination of the mortgage interest deduction. Right behind that issue was a similar treatment with regards to property tax deductions.
The Fiscal Cliff negotiations earlier this year created new tax breaks for homeowners, and extended others.