Archive for August, 2011
August 31st, 2011 | 
Author: Tenant In Common: Securities Or Real Estate: A Matter That Is Open To Interpretation
Mostly people that make TIC tenant in common investments will have 1031 exchange in mind and even though TIC as an industry is just a small part of 1031 market it is still increasing at a good rate and thus worthy of serious consideration. At present TIC can be brokered either as a securities or real estate transaction and thus there is a grey zone that exists with regard to whether Tenant in Common is Securities or Real Estate.
Securities Or Real Estate Dealers/Brokers
There are a few organizations such as the National Association of Realtors NAR that are concerned about whether TIC that is in the form of a partnership or security or both will be disqualified under 1031 and furthermore such disqualification will in turn require using security dealers/brokers for security transactions and not real estate brokers because the transactions are not deemed as being real estate deals.
In fact to be sure about whether Tenant in Common is Securities or Real Estate you need to understand what security is and what real estate means. Typically securities involve investing money or other form of property and investing in common enterprise based on a third person’s expertise and the intention is to earn a profit. However there is no real clarity when it concerns Tenant in Common: Securities or Real Estate though for any TIC transaction to be qualified as 1031 tax deferral it requires that the National Association of Securities Dealers or NASD has to step in to evaluate the TIC industry and then shed further light on whether Tenant in Common are Securities or Real Estate.
What it thus boils down to is that as far as Tenant in Common: Securities or Real Estate is concerned if the TIC transaction is deemed to be one of security then the deal has to be brokered through securities dealer/broker and there is no place for a real estate broker in such instances. On the other hand when Tenant in Common: Securities or Real Estate relates to a real estate TIC exchange then the deal has to be brokered through real estate brokers/dealers and there is no place for the securities dealers/brokers.
As a matter of fact when trying to decide whether Tenant in Common are Securities or Real Estate it is really quite difficult trying to figure out what is security and what is real estate especially as the matter is further compounded because there is nothing clearly mentioned in the Revenue Ruling or Revenue Procedure in this regard. Thus depending on who is viewing the TIC deciding on Tenant in Common: Securities or Real Estate depends on whether the NASD is handling the matter and if so it will treat the TIC as securities while if it were the NAR then the TIC would definitely be considered as real estate.
About the writer: Kathryn R. Landry is a business writer for TIC Advisors Inc . A company that can give you the most complete information on a 1031 exchange or TIC properties nationwide.
Posted in Real Estate In Michigan
If you ask Michigan residents what they think about living in the area they will no doubt tell you what a positive experience it is. The cost of living is reasonable the school systems are exemplary the climate is favorable the scenery is beautiful and the entertainment options are abundant. You dont need to look very hard to find reasons to live in Michigan. In fact there are so many reasons to live in Michigan it is no wonder the real estate market is booming. More and more people are taking advantage of the many benefits to living in one of the Michigan cities.
The cost of living is one of the many advantages to living in Michigan. Comparatively speaking it is much lower than many other areas across the nation. Of course this will depend on the particular area in Michigan you choose but overall you can get a great deal on housing and purchases. If you are a family relocating to Michigan you will be interested in the education system in the area. Michigan public schools are among the finest with high standards and an above average success rate. There are also numerous private schools trade schools colleges and universities in the area.
One of the foremost reasons for living in Michigan is the climate. Michigan has four distinct seasons and the recreational opportunities to coincide with each. For those who enjoy the changing of the seasons Michigan is an ideal spot. Michigan is also famous for the numerous beaches surrounding the area. The landscape is truly breathtaking and there is an abundance of wildlife flora and fauna. Anyone interested in observing the natural habitats of numerous species will flock to Michigan to bask in its beauty.
Whether you are looking for cultural opportunities sports and recreation or a thriving night life Michigan has all there is to offer. There are numerous museums theaters and cultural events occurring throughout the year for anyone who is interested in exploring the diversity. Regardless of your favorite sport there are many opportunities to indulge. Professional sports are popular if you enjoy watching an event. Also if you enjoy golf Michigan is home to some of the most challenging and well laid out courses. Both children and adults will enjoy the vast array of beaches parks and gardens available. For the adults night life is abundant. There are numerous bars restaurants night clubs and even casinos for everyone to indulge in a little night life adventure.
Michigan is fast becoming a premier spot for those looking to relocate. Not only does it have a reasonable cost of living but there are also numerous housing opportunities in beautiful areas from which to choose. The cultural recreational and educational benefits to living in Michigan are numerous. So it is no surprise so many people want to live in Michigan and the long time Michigan residents can think of no place they would rather be.
About the writer: Take a look at my Real Estate Holland Michigan or Zeeland MI Real Estate Website!
Home Loan Modifications Help Homeowners Reduce Thier Monthly Payments
In addition to displacing a homeowner a typical foreclosure can result in up to 80000 in losses for the homeowner lender local government and neighbors whose homes fall in value according to an April 2008 report from Congress’ Joint Economic Committee. With approximately 1.5 million sub prime ARMs expected to reset to higher interest rates in 2009 there is a need for servicers to swiftly implement and execute on home loan modification programs.
Although homeowners can do their own home loan modification they should at least consult with a few home loan modification companies to get a feel for how the process works. WARNING!… You should use your best judgment when having discussions with these companies. Avoid paying any hefty fees up front especially if there is no guarantee in place. Also be cautious if any representatives are very pushy and sales heavy.
Here are some important tips to consider when starting the home loan modification process…
1 Keep a detailed record of all dates times names and contact numbers every time you call your bank/servicer
2 Have your hardship situation outlined properly and clearly written before you call
3 Try to NEGOTIATE with your bank after they give you the first offer. They are always looking out for their financial interest first
With the right set of documents and consultation the homeowner will be able to get their lenders/servicers to freeze the interest rate of their existing ARM for a specified period or modify the ARM to a fixedrate or interestonly fixedrate loan permanently.
Daniel Clarin President of National Modification Consultants says they can help lenders/servicers quickly execute loan modification programs on behalf of homeowners that are compliant with current legislative or investor requirements. Their company’s robust change management capabilities ensure rapid implementation of any new or updated requirements brought on with government intervention programs. The company provides StepbyStep submission instructions and negotiation tips to ensure a fast effective and mutually beneficial loan modification. In addition to the bank ready loan modification package provided by National Modification Consultants through their website www.instantloanmodifications.com they provide live help to answer any and all questions regarding a home loan modification; presubmission and postsubmission.
Home Loan Modifications work for ALL the major banks and servicers servicing mortgages from banks and lenders like Countrywide Chase Citi Wells Fargo Bank of America Ocwen IndyMac Etc…
About the writer: Vice President of National Modification Consultants LLC A Leader In Doc Prep And Consultation Services for Standardized Loan Modification Agreements And Packages Automatically Customized To Meet Bank/Lender/Servicer Specifications though a proprietary web application document processing system http://www.InstantLoanModifications.com We can be reached at 8777869498