Riverside and Corona Real Estate for Buyers and Sellers
Welcome to Pedersen Real Estate. Are you looking to buy or sell a home in Riverside, Corona California or surrounding areas? Let us assist you. We will take care of all the important and necessary details so you can attend to moving. When it comes to Riverside and Corona real estate, we know the territory. For experienced help with your real estate needs call us now...951-840-5212.
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The US Dept of Housing and Urban Development (HUD) offers an online guide to preventing disclosure. The guide provides information such as when an how to talk to your lender; tips on avoiding foreclosure and foreclosure scams, and information for people who cannot keep their home. The guide is available at http://www.hud.gov/foreclosure/
THIS MONTH'S IMPORTANT REAL ESTATE INFO YOU DON'T WANT TO MISS IRS Clarifies What's Needed to Claim Tax Credit The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit. While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn’t common.
The IRS clarification says: "In areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. … The IRS encourages those buyers to sign the settlement statement prior to attaching it to the tax return.”
For repeat buyers, the IRS is seeking documentation that home buyers have lived in the previous property for a consecutive five of the past eight years. Proof can include property tax records, home owner insurance records, or mortgage interest statements.