Line 219 – Moving expenses

The following information will help you determine the moving expenses deduction you can claim.

It was bound to happen. A combination of factors has led to a lot of refinancing activity.

But not all lenders are able to process the applications in a timely manner.

With up to 60 days or more from the time of application to the time of closing, it is not uncommon for life situations to change. But be careful because some changes can blow the application out of the water.

Some things you can control, and some things you can’t control. It is smart to control those in the first category, so that you avoid circumstances that may negatively impact your application. That is especially true in the current environment.

Here are at least 8 things you should NOT do, in order to keep your refi plans on track,.

1. Don’t buy that new car, and avoid a trade-up to a bigger lease.
2. Don’t quit your job or change professions.
3. Don’t change your salaried job to a commission income job.
4. Don’t move large sums of money between accounts.
5. Don’t neglect to pay your bills in a timely manner.
6. Don’t open new credit cards, even at better rates.
7. Don’t take a cash gift without completing the proper “gift” paperwork.
8. Don’t make unusual and undocumented deposits into your bank account.

If you have a circumstance that may cause you to break any of these – for example, a cash gift from family that may be needed to make the deal fly – just check with your loan officer to make sure it won’t be a problem for your application.

The mortgage application process can have numerous “minefields,” so it pays to be careful with life changes, especially now that the process itself is taking a longer time.

[This post was written by Kathy O'Neal and re-posted with her permission.

The Kathy O’Neal Team serves home buyers and sellers in Northern Virginia, with special focus on Chantilly, Centreville, and the communities of the Western Fairfax region.]

Spring into Fire Safety

Spring has finally arrived. Time to put away the snow shovel, and get out the lawn mower.
Let’s not forget safety.
Change the oil, install new spark plugs and new filters.

Clean the mower deck and sharpen the blade. Move the mower to the outside. Re-fill the gas tank with fresh fuel taking care to prevent spills and carefully wiping up any that does. Now is the time to start your mower. Always run any gasoline engines out doors, preventing Carbon Monoxide poisoning.
Before mowing, clear the lawn area of all debris that could be thrown by the mower.
Gasoline should always be stored in safety containers in the storage shed or garage. NEVER inside the house. Gasoline fumes can KILL.

Barbecue Safety

Time to get out the BBQ and get ready to cook outdoors !
First we have to clean up from the long winter. Wash off the outside with soap and water. Remove the briquettes and inspect the burner for rust and other damage. If large holes are present, this will cause erratic heating and poor heat distribution.
Check the venturi tube running from the valves to the burners for obstructions. Spiders love to nest in there during the winter. These obstructions must be removed, as they will impede the propane flow.
Move the BBQ outdoors. Now is the time to install the propane tank. Always check all connections with soapy water for leaks and re-tighten as necessary. Open the lid and follow the manufacturers instructions for lighting. – Happy Barbecuing -

Yard Clean-up

Time to move outdoors and clean-up all the debris from the long winter. Raking the lawn of all loose debris and dead grasses. Bag it and put it out for the yard waste or compost pick-up. Remove any combustible waste from around the yard. Do not allow piles of newspaper or furniture to accumulate out doors where they may become a fire hazard. In years past there have been problems with unknown persons starting fires in back yards and garages.
Make sure your storage sheds and garages are secure and locked.

“Don’t Give Fire A Place To Start.”

In The House

This is the place we usually relate to when we talk of “Spring Cleaning”.
Let’s not forget Fire Safety inside as well. Have we taken a good look at the furnace room. Can we get rid of some of the things that have accumulated over the winter. Other areas that seem to be out of sight – out of mind, we all have them, closets that are overflowing, hallways that seem to be impassable, spare rooms that are used for nothing else than to collect things which we will never use. Get rid of what we no longer need. Reduce, Re-use and Recycle. Have a yard sale to dispose of the things we no longer need.

“A Tidy House Seldom Burns”

Is your mortgage coming up for renewal? OR Have you had your mortgage for at least 3 years? Are you comfortable negotiating with your lender

?

You may be surprised to learn that your mortgage lender doesn’t care about you; their job is to get as much money out of you as possible. That’s why they send you the notice to renew your mortgage a couple of weeks before it is due. The lenders know that most people are way too busy to take time out to negotiate a better rate; they also know that most people don’t know how to, or are intimidated by the lender and therefore don’t, negotiate their rate. That’s why their renewal notice offers you a rate that is 1% to 3% ABOVE the best rates.

As a free service to you, let me negotiate your mortgage renewal for you. If you’ve been in your mortgage for 3 years or more, there’s a very good chance that I can negotiate at least 1% lower rate than what you are paying right now.

Ask me about my other ‘Negotiator Plus’ services – they are all free!

I bet you’re wondering why I’d do this for you? The answer is quite simple really – this is what I do; I negotiate, and I’m not shy to say that I’m darned good at it. I have the connections, the expertise, and the time to save you your two most precious comodities – time and money – and I consider it my duty to help people when I can.

If you are interested in learning more about this 100% FREE service, just fire me an email, or call me at 905-208-7002.