Why you got an extra day to file your taxes

Tax Guide Why you got an extra day to file your taxes by Kathryn Vasel   @KathrynVasel April 18, 2018: 3:09 PM ET Your tax reform questions answered The IRS pulled an all-nighter. The agency experienced issues with its electronic filing and payment systems on Tuesday — which was supposed to be the deadline to file your 2017 taxes. The IRS, which was unable to process returns for several hours as a result of the outage, extended the filing deadline…

Homeowners can use this tax loophole — at their own risk

Homeowners can use this tax loophole — at their own risk Interest on home equity lines of credit used to be deductible on loans up to $100,000, no matter how you spent the money The Tax Cuts and Jobs Act limits this break, making it available only if you use the money to improve your home For now, there is no real way for the IRS to track how you’ve spent the money. Darla Mercado | @darla_mercado Published 11:18 AM…

Lack of Homes on the Market Takes a Toll on First-Time Buyers

Lack of Homes on the Market Takes a Toll on First-Time Buyers By Clare Trapasso | Feb 21, 2018 Soaring home prices and the shortage of properties on the market are taking a toll on buyers, particularly first-time buyers. The share of first-time homeowners fell to just 29% of all existing home buyers in January, according to the most recent National Association of Realtors® report. That’s down from 32% in December and 33% in January 2017. “First-time buyers are typically…

Homeowners: Here’s what’s in the tax bill for you

Homeowners: Here’s what’s in the tax bill for you by Kathryn Vasel   @KathrynVasel December 17, 2017: 12:17 PM ET Republicans reveal final tax plan details Republicans on Friday unveiled the final version of their tax bill, and it has new restrictions for some homeowners. Senate and House Republicans have reconciled their versions of tax legislation and the final plan shrinks some popular deductions. Lawmakers aim to vote on the bill next week and then send it to President Trump’s…

Your 5-step recipe for financial success

by Christy Bieber for The Motley Fool   @CNNMoney November 27, 2017: 10:07 AM ET   Search the question “what is financial success?” on the internet, and you’ll get millions of results with countless different answers. While some define financial success as having a few million in the bank, for others, financial success is as simple as being able to afford the roof over their heads or to send their kids to college without incurring tons of debt. While there…

Mortgage rates head lower ahead of big decisions from Fed, Congress

By Andrea Riquier Rates for home loans headed lower in the latest week as bond investors awaited certainty on big Washington policy initiatives. The 30-year fixed-rate mortgage averaged 3.92% in the holiday-shortened November 22 week, mortgage provider Freddie Mac said Wednesday. That’s down three basis points compared to last week. The 15-year fixed-rate mortgage averaged 3.32%, up one basis point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.22%, up from 3.21%. Mortgage rates closely track bond yields, which have struggled…

Looking for a Newly Constructed Home? You Have Good Timing

By Clare Trapasso | Nov 27, 2017 After several years of a frenzied housing market characterized by many more home buyers than sellers, builders may finally be taking note. The number of newly constructed homes for sale and sold shot up 6.2% from September to October, according to the seasonally adjusted numbers in a joint report by the U.S. Census Bureau and U.S. Department of Housing and Urban Development. They jumped 18.7% annually. (realtor.com® looked only at the seasonally adjusted numbers in the report. These have…

Here’s how long it would take for millennials to buy a home in every US state

By Emmie Martin   Millennials aren’t becoming home owners as quickly as their predecessors. One major reason: They simply can’t afford it. In pricey states such as Hawaii or California, saving up to buy a home could take millennials up to a decade. However, in other more affordable locations, such as West Virginia and Ohio, the process can take as little as two and a half years. That’s according to new data, which identified the most and least affordable states…

Online sales boomed on Black Friday

by Jackie Wattles   Black Friday 2017 was all about digital sales. American shoppers spent a record $5 billion in 24 hours. That marks a 16.9% increase in dollars spent online compared with Black Friday 2016, according to data from Adobe Digital Insights, which tracks 80% of online spending at America’s 100 largest retail websites. Digital retail giant Amazon (AMZN, Tech30) said Friday that orders were rolling in “at record levels.” More than 200,000 toys were sold in just the…