Indiana Property Tax Appeal

Originally posted 2008-12-28 04:11:27. Republished by Blog Post Promoter

On or before May 10 of the year that you feel that you received an unfair tax assessment, you will need to file a written appeal. 

Once the assessor gets notice that a property owner would like to have their property tax re-assessment, the assessor must forward the appeal documentation to the county board of appeals.

The board shall hold a hearing or review of the petition for re-assessment no later than 180 days after the board receives the notice.  The board will mail the notice to the property ownership of the date, time, and location of the hearing on the property owner’s petition.

There will be a series of videos discussing the forms required to file the appeal, and how to fill the form out.  As an added bonus, we will discuss an appeal that was reviewed by the board.  This reviewed appeal will give you insight in to what to do or not to do to get your property re-assessed in your favor. 

To get the forms needed for filing your property tax appeal visit
for Form 130 also called Form 11 CI www.in.gov/icpr/webfile/formsdiv/21513.pdf

For Form 11 RA visit http://www.in.gov/ibtr/files/DavidandPatriciaSullivan.pdf

For Form 113 visit http://www.in.gov/icpr/webfile/formsdiv/46725.pdf

Video 1 (Indiana Property Tax Appeal)

 

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Protecting Your Investments - This article discusses the business entities that are available that are available for investors to protect their personal assets when buying and holding properties.

 

 

Property Tax Related Articles

Indiana Property Tax Appeal (Part 2) -Filing a property tax appeal can be difficult.  This article gives links to the forms needed to file the appeal and a video tutorial on filling the forms out.

Credit How Important Is It?

Originally posted 2008-12-24 06:41:44. Republished by Blog Post Promoter

If you are considering buying a home, check your credit first.  Most credit reports have incorrect information.  According to the US Public Interest Research Group as many as 79 percent of consumers have mistake on their credit report.

First step, I would recommend is get a copy of your credit report.  The credit bureau can provide one free copy a year and you are entitled to a free copy if your credit is denied.  There are three major credit bureaus, and they are:

• Equifax Post Office Box 740241 Atlanta, Georgia 30374 or call at  800 685 1111  www.equifax.com/fcra
• Transunion Post Office Box 1000 Chester, PA 19022 800 916 8800 www.transunion.com
• Experian Post Office Box 2104 Allen, TX 75013 800 493 1058 www.experian.com

When contacting the credit bureau by mail, please provide the bureau with proof of identity.  Provide:

• Copy of driver license
• Copy of social security card
• Last five addresses

You will need to get all three credit report because to qualify for a mortgage all three credit bureau’s score are used.  This is called a tri-merge report.   The mortgage uses the middle credit score to qualify you for the loan, so you want to make sure all three is as high as you can get them.

Once you have your credit reports look to see if all the information is accurate.  Dispute incorrect information through the credit bureau that is reporting the information in writing.  Some bureaus provide a fill in the blank form for your convenience for this purpose.  If one is not provide, write a letter that gives the name of the creditor, the account number, and the reason the information is incorrect.  The creditor has 30 days to response to the credit bureau as to the accuracy of the information.  If the information can not be verify it must be removed.

Along those same lines, all outdated information on your credit report is supposed to be removed after seven years.

Even if there is bad credit that is true.  Time is the best cure for bad credit.  If a foreclosure is on your credit your score will get better after three years and it has to be removed after seven years.  A Chapter 7 bankruptcy has to be removed after ten years.

With the frequency of identity theft, I would also recommend checking your credit often because credit fraud is difficult and costly to correct.

Related articles on credit

• How to Remove Unauthorized Hard Inquiries (bargaineering.com)
• 5 Ways To Kill Your Credit Scores (creditra.blogspot.com)
• Credit, Risk Assessment Score and Budgeting (slideshare.net)

What Does Variable Interest Rate Mean?

Originally posted 2008-12-26 12:45:44. Republished by Blog Post Promoter

 The variable interest rate is adjustable.  It allows the consumer to take advantage of the current economic conditions and pay a lower rate of interest on the loan; however if the economic conditions change the rate may interest.  The interest rate for a variable interest loan can be effect by the money market rate, a lender’s cost of funds, or the current index of the loan that the investor has. 

What’s Your Best Chances To Make Money in Real Estate Today? The Answer May Surprise You

Originally posted 2009-05-18 10:09:37. Republished by Blog Post Promoter

With any investment that you make your goal is to make money.  In today’s market, you can make money by offering rent to own.

With rent to own, you are still the owner of the home, but the occupants have equitable interest in the home just as your mortgage company does.  The rent to own can be utilized through a land contract or a lease option.  If you choose a land contract, then the occupant has equitable interest in the property.  If you choose a lease option, then the occupant does not have equitable interest in the property until such time the occupant exercise his or her option to purchase the property.

Another important fact is that if you choose a land contract is it important to do a judgements and liens check on the occupant before attaching the occupant to the property because the judgements and/or liens that the occupant may have can attached to the property.  Any title company can do this service for you for a fee.  You will need to get a name affividat from the occupant.  You will also have a closing just as you do when you sell the home.

What is equitable interest? Equitable interest is interest held by an equitable title.  The title indicates  beneficial interest in property and that gives the holder the right to acquire formal legal title.    If the occupant has equitable interest in the property then they have rights to the equity in the home.     Therefore, if the occupant does not pay, you will have to do a judicial foreclosure on the occupant.  

The reason that this option is profitable in this market is that the owner reduces his or her holding cost and get a potential buyer for the home some time in the future.

The terms of the lease option and land contract must be in writing.

Because the occupant has a written contract and equitable interest under the land contract, the occupant can file for tax exemption; thereby, reducing taxes for the investor.  The occupant must also record his or her land contract.  The recording of the land contract  with the assessor office will in most cases be handled by the title company.  As an owner occupied property, the occupant is eligible for exemption whereas the investor is not.  There are restriction to this so check with your state.

It is important to note that the occupant that is under a land contract will be responsible for taxes, insurance, mortgage, and interest to the investor.  The investor also can add to the contract that if at any time that the occupant does not have insurance on the property that the investor can add insurance at two to three times the cost until such time the occupant puts insurance on the property.

Lastly,  remember whatever changes that the real estate market presents there are answers.  In the 80s, the answer to the high interest rate was an assumable loan.  Today, the answer is owner financing whether it is lease option or land contract is up to you.

To learn more about the land contract, please read:

What is a Land Contract?

Owner Finance May Sell Your Home Faster

Originally posted 2008-12-08 03:18:50. Republished by Blog Post Promoter

In today’s market most of the buyers are having a hard time getting financed.  True, some of the buyers may not have the credit score, income, or other required qualification needed to purchase a home through conventional meets, but with the owner financing program you will be able to have more qualified buyers.

You may be thinking why would I want to do owner financing.  I have investors that have granted me access to over 479,000,000 dollars.  The money is to be used for purchasing of Owner/Seller Financed Notes.    Let’s see you create a note against the property that you own, and My Investors will purchase that note from you at closing. 

• Simply add owner financing to your advertisement campaign, and you will receive a lot of calls. 
• Then, those potential home buyers fill out my short application for financing form.  I will give you all the forms and contacts you need.  The investors will loan money to people with credit scores as low as 620, Buyer with No Money Down, with interest rates from 6 to 9.9%.
• Then, you will be contact to let you know what the potential home buyer qualifies for. 
• You choose the buyer with the best financing and down payment. 
• You draw up a contract with that buyer.
• You create a note at settlement for the sells price.
• At closing, my Investors will purchase the note from you giving you the money you need. 

This program works in 48 states.  Please visit my website for more information at

http://weprovidethecash.com/sellersite.php?id=snorbrown