Upgrades for this Season

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Upgrades to consider this season


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Mortgage Debt Forgiveness extended

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Here is the good news for troubled home owners…..Congress has extended Mortgage Forgiveness Debt Relief Act for another year !!

Here is the link to the article: Mortgage Forgiveness Debt Relief Act

Have you filed for Homeowners Exemption?

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State of California allows homeowners to file a reduction in their home value for tax assessment. You can take 7000 off of the property value.

What this means is if you bought a house for 600,000, and if you file for the Homeowners Exemption, then the property value used for tax assessment will be 600,000 – 7000 = 593,000.

So depending on your tax rate you will be paying taxes on 593,000 instead of 600,000.

For more information, here are some links:

For Alameda County:http://www.acgov.org/assessor/assrinfo.htm#exemption

For Contra Costa County: http://www.co.contra-costa.ca.us/faq.aspx?TID=30

Hope this is helpful.

Nirali Vaghela