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According to Erin Carlyle of Forbes, “construction of new homes rose 6.3% in September and permit activity increased, suggesting that the gradual housing recover is continuing.” Indeed, the number of new homes built this past September was 17.8% higher than it was in September of the previous year. However, Carlyle points out that despite the rapid increase in new home construction, builders are actually feeling less confident; approximately 46% of builders feel that the housing market is more … [Read more...]

Timothy R. East was chosen over five other applicants to be the next city treasurer of Harrisburg, Pennsylvania — but he may not be able to take the position as he is currently filing for personal bankruptcy. Many question how this was overlooked during the selection process. Though himself a certified public accountant and business owner, East found himself in need of filing for Chapter 13 personal bankruptcy after struggling with three mortgages on his home (for which he owed nearly double its … [Read more...]

ABC News recently reposted a great article by Kay Bell of Bankrate. In this article, Bell discusses 10 Year-End Tax Moves to Make Now so you can save money. Among her tips are:  Defer your income, add to your 401(k), review your FSA amounts, harvest tax losses, make the most of your home, bunch your deductible expenses, add to or open an IRA, be generous to charities, pay college costs early, and adjust your withholding. Each of these steps can help you reduce your overall tax rate and save … [Read more...]

According to the IRS, the number of businesses that are e-filing their taxes rose 10 percent since last year, and is twice the number that e-filed just four years ago.  Today, more than 7 million corporations and partnerships are taking advantage of this convenient tool to file their returns. While large corporations (those with $10 million or more in total assets) are required to file electronically, it is optional for smaller businesses but the IRS is pleased that many are moving in this … [Read more...]

Buying a home from a seller who is not working with a real estate agent has some advantages. You may be able to purchase that home at a lower price since realtor fees are not part of the equation. However, it is important to keep in mind that if you are purchasing a FSBO home, you must do so without the help of a realtor and therefore may encounter a number of problems. This is explained in this article entitled 8 Tips When Buying a House For Sale by Owner. In it, you will discover why working … [Read more...]

Jennifer Acosta Scott of Bankrate advises that “when questions arise on a real estate transaction, most people call their agent or broker. But if the deal is complicated or risky, it’s smart to consult with a real estate attorney.” In her article, 5 questions to ask a real estate attorney, she lists some crucial information you should obtain to ensure that the attorney you choose will work out for you. Among them are: How long have you been practicing? How many cases like mine have you handled? … [Read more...]

Gregory Wallace of CNN Money reports that administrative snafus at Flagstar Bank lead to more than 2,000 house foreclosures in the last three years. A review by the Consumer Financial Protection Bureau led to the discovery that there were many issues that caused hardships for homeowners. Among them: loan modification applications took up to nine months to review, loan adjustment applications took so long to review that documentation expired and applications were closed out, routine … [Read more...]

Filing for bankruptcy isn’t easy on anyone, but sometimes it is the only viable solution. After all is said and done, how do you pick up the pieces and move on? This article, Life after bankruptcy, which was published at Bankrate™, gives some good advice to those in this position. This article includes information about finding a way to live a slimmed-down lifestyle and how to establish new credit. It also recommends adopting a positive attitude and planning for your financial future while … [Read more...]

GT Advanced Technologies supplies Apple with the scratch-resistant sapphire glass used in many of its products. While they seemed to be in a great position to many investors, the company surprised the world by applying for bankruptcy this week. GT Advanced Technologies had borrowed $350 million from Apple to build up its sapphire manufacturing facility, however, their production only resulted in $31 million in revenue in the first half of 2014--far less than the company had expected to earn. As … [Read more...]

U.S. Bankruptcy Judge Kevin Gross ruled that the bankrupt Atlantic City casino owner, Trump Entertainment Resorts, Inc., did not meet the necessary requirements to be permitted to stop contributing to the employee pension fund. Trump Entertainment’s lawyer, Kristopher Hansen, argued that exiting the fund was “absolutely critical.” However, permitting this action, according to Judge Gross, would violate the bankruptcy code. As reported by Bloomberg, this was a tough blow to the company, which is … [Read more...]