Sentences with phrase «form of your primary residence»
Whether you are a general homeowner or a professional real estate investor, properties in the form of your primary residence is most likely the largest asset in your portfolio.
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For over 30 years, judges have had this authority on almost all forms of property, including second homes and investment properties, but never before on primary residences.
A reverse mortgage, also called a home equity conversion mortgage (HECM), lets seniors who are at least 62 years old access the home equity from their primary residence in the form of a lump sum, a line of credit, a stream of monthly payments or some combination of these.
Unlike investment real estate property that typically provides cash flow income (i.e. cash in your pocket) to you in the form of rent, depreciation, amortization, and equity growth, your primary residence takes cash out of your pocket in the form of your mortgage payments.
Whether you are an adult student going back to school or the parent of a student headed to college, the Free Application for Federal Student Aid (FAFSA) form (used for Stafford Loans, Perkins Loans or Pell Grants), does not require you to report the value of your primary residence (if you own a home) or the value of your retirement accounts.
It is also a good idea to keep receipts for any expensive items and store this documentation in a location outside of your primary residence, such as in a safe deposit box or in digital form in «cloud» storage.
Unlike investment real estate property that typically provides cash flow income (i.e. cash in your pocket) to you in the form of rent, depreciation, amortization, and equity growth, your primary residence takes cash out of your pocket in the form of your mortgage payments.
Many times, this will be payment that you use to pay for a hotel room or an alternate form of housing until your primary residence has been repaired.
Canadian citizens will now be required to disclose the sale of their «primary» residence on the income tax forms.