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Renting Instead of Selling

Joesph F. Madrigrano Jr. — Thu, 29 Jul 2010 06:18:35 +0000

Renting Instead of Selling Money Magazine August 2010 reports on the five steps in renting your home: Step 1. Calculate what it really costs to be a landlord. Your carrying costs will be higher than your current mortgage, taxes, and insurance. For starters, the cost of your insurance policy is likely to rise once you [...]

Is borrowing from my 401(k) a good idea?

Joesph F. Madrigrano Jr. — Wed, 28 Jul 2010 06:47:15 +0000

Is borrowing from my 401(k) a good idea? Money Magazine asks the question: “My wife and I want to buy a home, but can’t put 20% down. Is borrowing from my 401(k) a good idea?” The answer they give: It’s not worth it. You’ll be giving up any investment gains that might accrue before you [...]

Business Planning Part II

Joesph F. Madrigrano Jr. — Fri, 23 Jul 2010 12:41:32 +0000

Business Planning Part II I read in Fortune Magazine 2010, “Battle of the Business Plans” that Houston’s Rice University offers a $1,000,000 prize for the best business plan. There are sixteen other national races offering cash and in-kind prizes for the best business plan. My own belief is that no business will reach [...]

Home Sellers: Fact

Joesph F. Madrigrano Jr. — Tue, 20 Jul 2010 12:01:38 +0000

Home Sellers: Fact Nationwide the average home is on the market 150 days up 43% from merely two years ago. The average high end home is on the market 248 days. Sellers can track this number to see where the market is heading. Attorney Joseph F. Madrigrano, Jr. studies the real estate market in order [...]

Tax Credit Closing Deadline Extended

Joesph F. Madrigrano Jr. — Fri, 16 Jul 2010 09:10:44 +0000

Tax Credit Closing Deadline Extended Congress passed an extension of the Homebuyer Tax Credit closing deadline under the Homebuyer Assistance and Improvement Act (H.R. 5623). Eligible taxpayers who entered into a binding purchase contract on or before April 30 now have until September 30, 2010 to close the deal, according to the Internal Revenue Service [...]

Residential Real Estate Part V

Joesph F. Madrigrano Jr. — Thu, 15 Jul 2010 10:59:12 +0000

Residential Real Estate Part V Buying your first home in 5 steps USA Today reports, “Making your dream a reality takes planning and help from the pros.” First-time home buyers can visit our previous blogs covering residential real estate purchases. To provide a simple checklist, we can review the advice found in the [...]

Is your small bank safe?

Joesph F. Madrigrano Jr. — Fri, 09 Jul 2010 12:40:50 +0000

Is your small bank safe? Check it out at Bankrate.com. In the upper right hand corner you will see “Quick links” click on bank ratings. If your bank gets at least three stars the bank is safe. The law firm of Madrigrano, Aiello & Santarelli, LLC is committed to building client relationships by providing quality, [...]

Residential Real Estate Sale Alternatives

Joesph F. Madrigrano Jr. — Wed, 07 Jul 2010 11:32:42 +0000

Residential Real Estate Sale Alternatives Many sellers of residential real estate are finding NO buyers at the price the seller feels is adequate, or sellers with mortgage troubles find will not get them enough to pay off the debt on their home. An alternative many homeowners are considering is to rent the home. This approach [...]

Business Owner Troubles

Joesph F. Madrigrano Jr. — Sat, 03 Jul 2010 07:43:18 +0000

Business Owner Troubles Even in the best times, a business owner may experience trouble/problems in their business. Customer problems, employee problems, personal problems, and on and on they come at you. The important thing a business owner must keep in mind is that the owner does not have to deal with these problems alone. Problems [...]

ALERT: Real Estate Short Sales

Joesph F. Madrigrano Jr. — Sat, 03 Jul 2010 06:29:10 +0000

ALERT: Real Estate Short Sales New rules require lenders to provide pre-approved terms for short sales (in which homes sell for less than the owners owe to the lender) for sellers who were not approved for a loan modification. You should always document it, in writing, when you request a lender for loan modification. An [...]