<?xml version="1.0" encoding="iso-8859-1" ?><rss version="2.0"><channel><title>washingtonpost.com - Housing Counsel</title><link>http://www.washingtonpost.com/wp-dyn/business/columns/realestate/kassbennyl?nav=rss_business/columns/realestate/kassbennyl</link><description>Housing Counsel</description><language>en-us</language><ttl>15</ttl><image><title>washingtonpost.com</title><width>140</width><height>20</height><link>http://www.washingtonpost.com</link><url>http://media.washingtonpost.com/wp-srv/hp/image/wp_web.gif</url></image><item><title><![CDATA[Means Test, Counseling Requirement Lead a Host of Bankruptcy Changes]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A10648-2005Apr22.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A10648-2005Apr22.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[ It will no longer be as easy to erase your debts under the  bankruptcy law that President Bush signed this week.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Late Payments Don't Always Spell Doom for Homeowners]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A57730-2005Apr15.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A57730-2005Apr15.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[Q   We made a big mistake three years ago and now we are in potential trouble. We took out an interest-only mortgage loan and put down 5 percent of the purchase price. I just lost my job and cannot afford the high monthly payments. We have considerable equity in our house, but we have started to receive threatening letters from our mortgage lender. What should we do?]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Homeowners  Should Try  To Unload PMI]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A38697-2005Apr8.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A38697-2005Apr8.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[Several years ago, we paid $200,000 for our house. We barely were able to scrape up $20,000 and took out a 90 percent loan for $180,000. Because we did not have enough for a 20 percent down payment, we had  to obtain private mortgage insurance, called PMI. Since then, in addition to our regular mortgage, we have been paying about $75 a month for PMI. Because of this wonderful real estate appreciation, our house is now worth almost $300,000. Is there any way, other than refinancing our loan, to get rid of this PMI obligation?]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Put 'Fixtures' in Sales Contract]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A20016-2005Apr1.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A20016-2005Apr1.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[Q   We have signed a contract to buy our first house. Before we signed the agreement, there were two refrigerators in the house  --  one in the kitchen and the other in the basement. The real estate agent told us that both refrigerators would stay with the property. Settlement is scheduled for next week, and now we have been advised that the basement refrigerator will be removed. I do not understand when a refrigerator is a fixture and when it is not.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Utilities, Neighbors Receive Easements to Use Your Land]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A1221-2005Mar25.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A1221-2005Mar25.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[  Q   We have just settled on our new house. The title attorney gave us a copy of the title report and there is a reference to a "utility easement" in favor of the local telephone company. It looks as if this easement is somewhere in our back yard. What is an easement? Does this affect us? We plan to expand our house in the back and also have a vegetable garden there. ]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[No Girlfriend Exemption Applies When Transferring Property]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A47398-2005Mar18.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A47398-2005Mar18.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[  Q   I have a standard mortgage on a single-family house that I own by myself. I would like to add my live-in girlfriend to the deed. She will pay me half the current value of the house. If I do this, can I retain my current mortgage, thereby avoiding more closing costs and the loss of my favorable mortgage rate? Also, is this a taxable event that would require me to pay capital-gains tax? I know that the simplest solution would be for us to get married, but there are other financial issues involved and we would like to avoid marriage now if possible. ]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[A Parent's Remarriage Can Change Plans to Will a Home to Children]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A27411-2005Mar11.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A27411-2005Mar11.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[After our mother died, my father remarried. He added his new wife as an owner of the family home, and they now own our house as "tenants by the entirety."  He showed us his will, which appears consistent with his desire that the house be transferred to us upon his death. Are we protected?]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Government Issues Rules to Protect Borrowers From Predatory Practices]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A7889-2005Mar4.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A7889-2005Mar4.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[   Predatory lending remains a cancer in the American economy. There are still too many lenders in this country that prey on people and take advantage of them -- and take their money, despite the efforts of local, state and federal agencies.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[The No-Tax House Sale]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A53641-2005Feb25.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A53641-2005Feb25.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[  If you once owned a home that at one point was your principal residence, but was later rented out, the IRS may just have given you some good news. Depending on the facts of your situation -- and the timing -- you may be able to combine the principal-residence capital gains tax exclusion of up to $500,000 with a tax-deferred exchange, and pay no federal tax at all when you sell your house.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Amending Condominium Bylaws Is Difficult, but Sometimes There Is No Alternative]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A35575-2005Feb18.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A35575-2005Feb18.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[   Q   I have been a member of the board of directors of my condominium association for about five years. We have some issues that we have been unable to resolve because the governing documents would have to be amended for us to act. For example, we would like to change the provisions regarding leasing units and pets. Everyone says it is nearly impossible to amend the documents, so they don't even try. What do you think? ]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Promissory Note Spells Out How Much You Owe and When You Must Pay]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A17298-2005Feb11.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A17298-2005Feb11.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[ <em>Last in a series of articles</em><br>One of the most important papers you will be asked to sign when you close on a mortgage, whether to buy a house or refinance a loan, is a promissory note. It is your promise to pay back to your lender the money you are borrowing, your IOU.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Deed of Trust Gives Lender Broad Power Over the Home You Buy]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A63914-2005Feb4.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A63914-2005Feb4.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[ <em>First in a series of articles</em>   Q   I plan to settle next week on a house I am buying. I contacted the title attorney who will be conducting my settlement and asked that I be allowed to review in advance all the papers that I will have to sign. The attorney...]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Keeping Old Paperwork Can Pay Off]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A44838-2005Jan28.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A44838-2005Jan28.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[Last in a series of articles: As taxpayers, we are legally required to keep accurate records in case the Internal Revenue Service ever seeks justification or documentation of our tax returns. But how long should you keep these records?]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Deferring Capital Gains Tax in 'Like-Kind' Exchanges]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A25581-2005Jan21.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A25581-2005Jan21.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[Fourth in a series of articles: Real estate investors large and small pay capital gains tax when they sell their property -- and the bills can be sizable.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Points or No Points? Buyer or Seller? The Intricacies of Mortgage Shopping]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A9772-2005Jan14.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A9772-2005Jan14.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[Third in a series of articles: Among the biggest tax benefits that the federal government gives homeowners are deductions for mortgage interest and points. Here's a closer look.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Defining Your 'Principal Residence' for Tax Purposes Isn't Always Simple]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A56715-2005Jan7.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A56715-2005Jan7.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[Second in a series of articles: There is no definition of principal residence in the tax code. If you ask an IRS agent -- or your tax lawyer -- for a definition, he will advise you that "whether or not property is used by the taxpayer as his principal residence . . . depends on all the facts and circumstances in each case, including the good faith of the taxpayer."]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Not Such a Simple Deduction]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A40005-2004Dec31.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A40005-2004Dec31.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[First in a series of five articles designed to assist homeowners in understanding tax laws as they relate to real estate matters, so that you can take advantage of every tax benefit that is available.]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Buyers Often Have Little Recourse in PMI Battles]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A25114-2004Dec24.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A25114-2004Dec24.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[   Q   When I was arranging my mortgage, my down payment lost ground. Instead of having enough money to put down 20 percent, I could only muster 17 percent. Initially, I was going to get an 80 percent loan. My mortgage coordinator advised that instead of borrowing or taking a second mortgage for that small amount, I should opt for private mortgage insurance to cover the difference. ]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Buy a Home With Cash? As Always, It Depends]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A8018-2004Dec17.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A8018-2004Dec17.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[I plan to move out West next year. I am 63 years old and semi-retired. My home is valued at about $300,000. I have a 15-year mortgage and the principal balance is about $46,000. I believe I can buy a small house for less than $200,000 in the area where I plan to live.     Does it make sense to buy the new house with no mortgage? What if I find the new house before I sell here?]]></description><author> Benny L. Kass</author></item><item><title><![CDATA[Homeowners Must Act Quickly to Avoid Losing Benefit of Capital Gains Exclusion]]></title><link>http://www.washingtonpost.com/wp-dyn/articles/A55771-2004Dec10.html?nav=rss_business/columns/realestate/kassbennyl</link><guid isPermaLink="true">http://www.washingtonpost.com/wp-dyn/articles/A55771-2004Dec10.html?nav=rss_business/columns/realestate/kassbennyl</guid><pubDate>Sat, 23 Apr 2005 13:24:26 GMT</pubDate><description><![CDATA[A couple owns a house valued at $800,000. They understand that if they do not sell the house before the end of this year, they will have to pay a lot of capital gains tax. They want to know if there is any way that they can avoid paying the capital gains tax if they can't sell by year's end.]]></description><author> Benny L. Kass</author></item></channel></rss>