Word: rental
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That's good news for folks like Marie and Sal Latella who had their four-bedroom Colonial on and off the market for nearly three years before deciding to rent it out this summer. Now, settled in a rental of their own just 15 minutes away, the Latellas' sons are in a better school district (a big reason for the move), and the family is still close enough to swing by their old place every so often to keep...
...Crunch the numbers. In many parts of the country the rental market is soft too - thanks in part to shadow inventory like houses from Accidental Landlords. If you're paying $1,500 a month on your mortgage but can only rent it for $1,000, is renting the right solution? It could make more sense to sell the house at a loss, especially considering that rent proceeds are taxed as income. "Sit down with a calculator and really do the numbers," says John Yoegel, a real estate instructor and author of Surprise! You're a Landlord: A Guide to Renting...
...Find a tenant. For a fee, a real estate agent will help you find tenants, but plenty of Accidental Landlords advertise on rental web sites directly. Just be prepared for some heavy lifting, including ordering up credit checks and calling past landlords and employers. "Ninety-five percent of tenant problems can be eliminated in the screening process," says Nuzzolese. Reading up on federal, state and local fair-housing law is another must-do. It's illegal, for instance, to say you'd rather not rent to a family with kids. When figuring out how much to ask for in rent...
...affordable housing units from the original apartment complex will be accommodated at the new site, but 147 new mixed income units will be available for rental or home ownership...
...poor. Of that $88 billion, the majority has gone to low-income recipients. Nearly $28 billion has flowed to Medicaid; $19 billion to unemployment payments; $10 billion to states to bolster educational programs that primarily target the poor; $4 billion to student financial assistance; and $1 billion to rental assistance, among the biggest-ticket items alone. And that doesn't even include the share of the $62.5 billion in tax breaks available to the poor through the cut in withholding taxes; the Making Work Pay program, which gives tax breaks to wage earners; and the extension of COBRA health-insurance...