If I refinance my home in Florida, Must I reapply for Homestead Exemption?
143247
I believe the only time you have to reapply for the Homestead Exemption is when you move to a new house. If you still are currently living in your home and not planning to sell it, refinancing your mtg will not affect the exemption. For more info, visit www.miamidade.gov and click under the personal property link.
851066
That means the loan, not the house. You probably have a prepay penalty for the first 2 years, and you'll end up paying thousands in penalties if you refi before the prepay expires. Make sure the broker meant a prepay and not something else.
726088
You can deduct state, local, and foreign real estate taxes on ALL real estate you own.\n\nYou can deduct mortgage interest on ANY two homes you own.  You can only deduct mortgage interest on the first $1 million (total) of loans used to buy, build, or improve your home and only on the first $100,000 of other mortgage loans (home-equity).  If you think you may be over these amounts, or if you want to investigate further, I suggest reading the attached publication from the IRS.
487244
You may need to talk to your lender who is carrying the note. They may refinance the loan into a no prepayment. Also if the loan has a soft prepayment you can sell the home.
482743
No, if it is your principal residence, and you sell within 2 years.  However, if this is an investment property, and you are using that money to buy another investment property.  The transaction could be set up as Sec. 1031 exchange, which will result in a tax deferral.
650565
Contact the tax collector's office. They may be able to set up a payment plan for you.\n\nIf the property is your primary residence, you may be eligible for tax credits, tax exemptions or a tax abatement. Most states have a homestead exemption, which will lower your overall property tax. Other tax relief may be available for the elderly, the blind, veterans, widows/widowers, and the handicapped. You need to contact your assessors office or county appraisers office for more information on available exemptions.\n\nAlso, check to see if your home is eligible for credits, abatements, refunds, etc for things like solar heating, wood heating, etc. Again, contact your assessors office.\n\nThe county/town does not want to own or auction your home. It is bad press to put a person or family out in the street, and the government is usually eager to help. It does not hurt to gently remind them.\n\nGood luck.
139122
There isn't specifically a "tax break" for a first time homeowner.  You do get to deduct your mortgage interest.  As far as moving, if you pass the checklist of questions, you should be able to deduct the specific items that the IRS will allow, i.e. mileage, and moving expenses if it was for your job.
191373
What do you mean remortgage? Are you refinancing?\nLiving next door has nothing to do with it, it's a matter of credit.
183719
A pre-payment penalty really does not matter.  Nothing matters except for the fact that if there is enough equity in your home, then you can continue to refi.  Whether it is a smart idea financially, that should be the question.  This is not recommended, unless the cash you are recieving back from the refi is going into accounts which have interest rates that are going to give you a good enough return and heavily outweigh the interest in which you are paying to the bank.  Or, if you are going to invest the money into another peice of real estate.  Other than that, I would highly recommend against this practice.
1160512
go to your county clerks office or sub courthouse...where you pay taxes at and ask for a homestead application.
1163685
you can refinance with a lien on your property but you would have to have a subordinate agreement from who ever holds the lien if they are willing to do so.  bankruptcy if it is a chapter 13 can discharge liens but that is because you would have paid them off.  not in a chapter 7
1174807
You pay tax in the state that you realized the gain.  So the answer is yes, you can avoid CA tax.  Yes, you can keep your house.  Your state of resedency doesn't depend on non-primary living places.
841912
The holder of the second mortgage could in theory foreclose on your home, even though you're up to date with the first mortgage and the taxes.  It's conceivable that your situation (widow of a veteran) might give you some extra protections, but I think that's a long shot, and you would have to ask an attorney about that.  The suggestion some other folks have made to refinance is certainly worth looking at.  If the interest rate on your first and second mortgages is relatively high, it's possible that by refinancing (that is, getting a new loan to replace both old loans) you could afford the payments on the total amount owed. A call to the first lender or to any mortgage broker could answer that question.\n\nOne other thing to remember is that the second lender probably would like to avoid foreclosing, as it's expensive and time-consuming, and if you don't have much equity in the home, the lender may not get his money back.  So he may have an incentive to negotiate with you--that is, to take a smaller monthly payment or to agree to some other terms that would work for you.  There is no harm in contacting the lender and talking to him.
499661
How much cash you can get out depends what the property is presently worth.  There's nothing to stop you from refinancing any mortgage even the day after you take the loan, but some loans have pre-payment penalties that make it ineffective to do so.  If the goal is just to get cash out and the value supports it, a 2nd mortgage or Home Equity Line of Credit avoids a pre-pay penalty and has less costs than a full-fledged refinance.
601769
Depends on the state. In FL they are still valid, but you have to file within the first year of owning a home. After that you aren't eligible. You'll need to call the local tax appraisers office or tax collectors office -- they'll tell you what you need to know.
1072822
Check your Note for the 2nd mortgage you're trying to refinance carefully.  Many 2nds have prepayment penalties!!!!  That would make any changes probably not worth it, as they're usually somewhere around 6 months worth of interest in the first year.\n\nI would say, if you qualified for the first and 2nd to begin with you could probably qualify again, but I'm assuming your financial information has changed in the month since you purchased and this may not be the case.\n\nDid you purchase the house for under appraised value?  It would be extremely rare for a house to appreciate in the first month, although some areas of the country are moving up quite fast.\n\nI don't know if there is any good answer.  The best thing you can do is go back to  your original loan agent and ask.  It can never hurt and they're always willing to try to make things work and make their commissions!
389318
you should refinance your mortgage.