09 Jul 2020
By RESCO Realty

It Is Tax Time Again Learn About Tax Deductions and How to Write off Your Home Mortgage Interest

Real Estate Tips, ,
Much to the frustration of taxpayers all over the country, the tax-filing season begins in January and runs through April 15 of each year. The year 2020 brought us many changes, including an extension on filing taxes. Taxes this year are due on July 15th. Are you ready? As the current tax season approaches, it presents an opportunity to help tax-payers clarify their responsibilities and remind them of certain important tax deductions that may be available. Filing Responsibilities Every person in the United States is required to file their tax returns by July 15 so long as they have some…
Read More
24 Oct 2018
By RESCO Realty

You Ask, We Answer: What is Private Mortgage Insurance or ‘PMI’ and How Does It Work?

Home Mortgage Tips, ,
For many homeowners, their mortgage payment contains more than just principal and interest. A little something called PMI could be representing a significant portion of that payment, and it's important for home buyers to understand this cost. What Is PMI? PMI stands for private mortgage insurance, or sometimes just mortgage insurance. However, it isn't intended to mitigate risk for the homeowner, but rather the bank. Statistics show that when a home buyer puts less than 20% down on a home, he/she is much more likely to default. So, requiring these buyers to carry PMI helps the bank hedge their losses…
Read More
28 Feb 2018
By RESCO Realty

3 Tips To Consider When Buying A Home With An FHA Mortgage

Mortgage,
FHA loans are becoming increasingly popular these days as potential homeowners may not able to qualify as easily for conventional mortgages. The FHA insures some higher-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase homes and bolster the housing market. However, while getting through the loan process with an FHA mortgage loan is not necessarily more difficult than with a conventional or conforming loan, there are some issues that you will want to be aware of. Property Condition You can't buy just any property with a FHA loan, or any other loan…
Read More