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All agents are NOT alike! Find out why I am a top real estate expert. Call me:toll free 888-833-3860 or cell 520-400-0957. e mail joe@joemachado.com
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For Home Sellers:
Why Sellers Choose Joe Machado - Why home sellers in Tucson, Vail, Sahuarita and Dove Mountain choose Joe Machado. Free Presentation - Free in-home listings presentation on marketing your Tucson, Vail, Sahuarita and Dove Mountain, in Pima County Arizona property. Property Valuation - How much is your Tucson, Vail, Sahuarita and Dove Mountain home worth? What Did That Home Sell For? - What did that Tucson, Vail, Sahuarita and Dove Mountain, Arizona property or other real estate sell for? FSBO - Selling your Tucson, Vail, Sahuarita and Dove Mountain real estate on your own? Go to Main Sitemap - Main sitemap sections include Find Tucson, Vail, Sahuarita and Dove Mountain Homes, For Home Buyers, For Home Sellers, Tucson, Vail, Sahuarita and Dove Mountain Information, Real Estate Resources, and About Joe Machado.
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Financing Your Home >Your Mortgage
Many homeowners overlook the mortgage payment as a tool for financial management. They get the mortgage, move in, make the payments, and pay off the loan eventually. Smart homeowners know that by properly adding to their monthly payments, even by a small amount, they can substantially reduce the term of their loan, not to mention the total interest they will pay. In fact, prepaying one full year of a standard mortgage can save thousands of dollars in interest. The key is to do it properly and to find the right lender for whom prepayment is not a problem.
More progressive lenders allow the option to add money to the monthly payment which goes directly to the principal. How much should you add? It's largely a personal decision, and it depends on your cash flow. But be mindful of the fact that the mortgage interest rate is probably the lowest interest loan you will find, so don't short yourself with prepayment only to run up credit card debt!
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| Q |
Which law allows a person to give another individual up to $10,000 a year without any tax consequences?
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| A |
The Federal Gift Tax Law allows both parents to give a child (or anyone) $10,000 each in one year. |
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