June 2014

There are 3 blog entries for June 2014.

Fixed mortgage rates have been gradually decreasing over the last five weeks.  As a result, persons with existing mortgages may be asking themselves, is now a good time to refinance?  While nobody knows what the future holds or where interest rates may be in the future, the recent decrease in interest rates may signal a good time for homeowners looking to refinance.  As a result, homeowners looking to refinance should consider the following three things (at a minimum) when determining whether refinancing is right for them.  1) What is the term on their present loan (ie: interest rate, outstanding mortgage balance amount and repayment schedule)?; 2) What are the terms on new loans being considered (ie: interest rate and repayment schedule)?; and 3) What

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There is no question that the use of LLCs in association with the acquisition and management of real estate have become increasingly popular, and for good reason.  After all, who doesn’t like having their liability exposure limited when entering into a business venture.  While no question exists regarding the importance of using LLCs, questions do exist as to which LLCs should be used.  Specifically, in which state or states should a person create their LLCs in order to obtain the best liability protections (ie: Texas, Delaware, Nevada, California, etc.)?  While the complete answer to this question is outside the scope of this article, this article will highlight several important factors to be considered. 

Generally, the best states to form a LLC will

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As the summer temperature heats up in Austin, so to is the debate surrounding the recently released Tax Reform Act of 2014 Discussion Draft.  Developed in part to help quell frustrations concerning the US’ complex/confusing tax system, the Discussion Draft’s proposals could have a major impact on Texas’ real estate market.  Although it is unlikely that any changes will occur in 2014, given it’s an election year, drastic change could be on the horizon.

As set forth in the Discussion Draft, two advantageous real estate tax provisions are scheduled to be reduced or eliminated, namely:

  • Mortgage Interest Deduction:  Currently, taxpayers are able to claim an itemized deduction for qualifying mortgage debt up to $1 million.  However, under the proposed
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