7/21/2014

Erase Your IRS Tax Lien













Many Americans are struggling with getting back on their feet after the downturn, you know the Third Great Depression. Here is a tip that doesn't cost anything, but can greatly improve your credit and FICO score

The IRS will withdraw a federal tax lien after it has been released.
What?
You can clean up your credit and raise your FICO score by filing Form 12277
You do not need an attorney. You can file this yourself! You will have to follow up.

This greatly benefits taxpayers who pay the tax they owe after the IRS has filed a Notice of Federal Tax Lien (NFTL) against them. Taxpayers who could not pay taxes due after notice and demand during this past economic downturn end up with a lien arising in favor of the United States upon all the property and rights to property of the taxpayer.
Unless the IRS “perfects” this lien by recording a NFTL in the public records, other creditors of the taxpayer, such as purchasers and holders of security interests, may obtain priority over the IRS. A NFTL adversely affects a taxpayer’s credit rating. Depending on the size of the paid lien and date paid it can reduce FICO scores by eighty to two hundred points. This more often harms taxpayers who own small businesses. Small business owners struggle the most with
the IRS, the State and regulatory agencies.
The program is called Fresh Start. There are terms and conditions to qualify. It takes 45 days minimum to complete and see your FICO score pop up.
You must have paid and they released the lien, and you filed
subsequent.
The IRS must release a tax lien, by issuing a certificate of release of lien, not later than 30 days after the underlying liability is fully satisfied through full payment of the tax, or is legally unenforceable (e.g., the statute of limitations for collecting the tax has expired). The IRS also has the authority, under certain circumstances, to withdraw a NFTL. If a NFTL is withdrawn, the tax laws shall be applied as if the NFTL had not been filed.
The circumstances that permit withdrawal are any one of the following:
Filing of the NFTL was premature or otherwise not in accordance with the IRS's administrative procedures.

Taxpayer enters into an installment agreement to satisfy the liability for which the lien was imposed.

Withdrawal will facilitate the collection of the tax liability.
With the consent of the taxpayer or the National Taxpayer Advocate, the withdrawal of the NFTL would be in the best interests of the taxpayer and the United States. The difference between a released or withdrawn NFTL is vital because of the way credit reporting agencies show withdrawals verses releases. Releases remain and lower FICO score, withdrawals disappear…erased from your credit history!

When a credit reporting agency receives a notice of the withdrawal of a NFTL, they delete any reference to the tax lien in the taxpayer's credit history. In contrast, when the credit reporting agencies receive a release of a lien, while they note the filing of the release in the taxpayer's credit history, the filing of the release does not operate to remove the references to the tax lien from the taxpayer's credit history.


In fact, typically a released NFTL remains noted in the taxpayer's credit history for seven years from the date of the release. (Credit reporting agencies are required to remove references to released tax liens after seven years under the Fair Credit Reporting Act.) - 


File the form - follow the directions - poof magic it is ERASED in about 45 days.


http://eaglehomemortgage.com/carolinegerardo/



In California and  you received a notice from your
County that they are increasing your property taxes?
You may only have weeks to file an appeal. Don't be hoping Howard Jarvis is going to assist you - you must file


7/18/2014

Curb appeal

Curbside appeal Laguna Beach
Hardscaping of bricks laid in herringbone patter, stones with light fixtures and simple privet hedge and grass is "nice"

Another home in the tract that used riverstone, picket fence and clapboard siding.
The classic car is terrific!
This house used stone veneer over stucco and concrete. This is not artificial veneer,
it is real.

Brick laid walk at curb adds a nice clean pattern to the curb.
Note the flag - hanging an American flag during daytime adds
a welcome appearance. Flags also add some color and movement
to the front entrance.

Arizona flagstone driveway entrance- The topiaries are well maintained. Geraniums in grey pots, lovely concrete fountain and teak bench now weathered to a silver tone.

 
Terrific use of traditional brick entry. Arching trellis over the gate has bower vine.
The vines continue to grow up above rain gutters and another pole trellis. The
used brick on the house is painted to tie in the whole. I love the white and light
naples yellow.

7/09/2014

Own A Lighthouse


40 North LA Senda, Laguna Beach
$24,900,000 million dollars
Comes with it's own salt water pool refreshed by the ocean
 

Commune with Movie Star Ghosts

I have swam around Three Arch Bay but never dreamed I would
have the opportunity to climb up in this lighthouse.
 



See the bridge across private beach to your own pool!

Reduce Your Property Tax Bill

How to reduce your new increased property tax bill




It’s property tax increase time! 
Get a light green notice from Webster J Guillory
he’s increasing your property tax bill? 
It looks innocent enough.
It says (THIS IS NOT A BILL).
It’s a tax increase.
The State of California is broke. 
Statewide homeowners, property owners
are getting these increases.
Property tax increases are determined 
by home values, not made up by local governments.

Want to know what formula your assessor used to calculate increases in your property taxes? Give me a call.

Proposition 13 is getting push back. 
Notice on your bill the assessor may have 
increased the base year amount of value. 
On one of mine they increased the basis (the original sales price) about twenty percent. This could mean thousands of dollars in property tax increase for my bill. It is an error.

Some jurisdictions use a home's actual market value,
while others use a percentage of a property's worth.

Whatever value is used, it's multiplied by the local tax rate to compute the property's final bill (about 1.25%)  As home values now are increasing counties are looking for extra revenue. They will up your assessed values sometimes in great excess of the real value. Can you see them rubbing their hands together?

The National Taxpayers Union estimates that sixty percent of taxable property in the United States is over-assessed.

The tax man gets his money. They don’t make the process easy on purpose. Elderly and minorities are the least likely to appeal.

DEADLINE IS SEPTEMBER 15th in Orange County.

This in itself is a trick. Many counties, Riverside for example made the window of opportunity to file very small just so homeowners and property owners won’t file.

Deadlines, along with the appeals process, vary in each county in California. The time allowed for an appeal is short. It once was true that you could appeal year round, and as often as you like. Counties made up rules (likely not legal) as to keep the number of appeals or tax reductions down. You may have only 30 days to appeal. Or in some smaller Northern California County offices you could have up to 120 days.

If your request for an appeal arrives at the assessor's office even an hour after 5:00 on the protest deadline, so sorry too bad. The wait is imposed until the following year (or sometimes the next assessment, which could be longer) before you can appeal. Counties have a habit of losing these appeals. I have read some statistics that twenty percent of the appeals disappear. Send by certified mail AND go get a stamped copy from the counter.

Assessments can be appealed on two grounds: a mistake in the assessment of your house or an assessment at a higher rate than comparable homes.

County appraisers also may use historical information that's wrong. A home's square footage, for example, might have been incorrectly calculated on original construction documents.

Obvious mistakes aren't difficult to spot. Is the inhabitable square footage figure correct? Does the assessment say your home has four bedrooms when it only has three? But you also should consider checking the assessment's accuracy by comparing it with a recent appraisal of your property.

Make sure that any property changes, particularly those that would negatively affect the value of your home, are part of the assessment. New commercial building next door? Bluebird Canyon residents and neighbors mostly failed to use the slide and loss of road access to reduce their bills.

Don't forget any modifications or additions you've made. If you've torn down a gazebo, removed a garage or taken away something structural the value may be lower.


The other way to challenge an assessment is to see how your home value is in reference to houses in your neighborhood. Comparable means homes of the same size, age and general location. They must be within 20% of the square footage, couple block proximity, similar construction and age. You will need to know if they have a pool or other improvements.

Learn the appeals procedure for the county your property is located in. You can find the information on the county government or tax assessor's website, and download the necessary forms. The timing of your appeal is particularly important: San Francisco, for example, accepts appeals of annual assessments only between July 2 and Sept. 15.

Need help? Call me I can walk you through the fire.

Eagle Home Mortgage Rates for Conforming loans SFR Owner Occupied Purchase under $417000 20% down FICO 721 Today 7/9/2014 Rates change several times a day This is not an offer to lend you money.

15 Yr. Fixed at 3.250%
3.644% APR
30 Yr. Fixed at 3.875%
4.142% APR
(949) 637-8190 Cell
NMLS# 324982


Call your tax assessor and find how they determined your value (if they will answer the phone).  If you can show she wrote down the wrong square footage for your house or the number of bedrooms, or that she missed an exemption or deduction you're entitled to under the law you are on strong footing.

File your appeal according to exact county procedures. This will often include paying a fee. You'll be notified when your appeals hearing is scheduled. If you don’t get notified, file again before the deadline.

Collect evidence that your house was overpriced. You may need to hire a Realtor or appraiser to give you a broker price opinion. I have a program that can get you on the Multiple Listing Service to find comps. You will need to not just state the comp address, sale date in past 60 days, and square footage- you will need photographs and a description of why the house is similar. If you can find comparable properties that sold for substantially less around the time that your house was appraised, this would be evidence that your value isn't what the assessor states.

You can try using the assessments on similar houses for the same purpose, however getting access to the bills is not as easy as the Assessor can view from their computer software. In other words- the Assessor has tools to argue back. Know your facts.

In California assessed value only rises two percent each year until a house is sold and reassessed: If your neighbor bought his house 10 years ago and you bought an identical model last month the taxes will be different.

Attend the hearing, or send a representative in your place. Failure to make your scheduled hearing will probably result in the board rejecting your appeal. Be prepared with any forms or documentation you're required to have.

You may need six copies of the papers.

Here’s the link to  OC form. They do not make it easy.

You will need your bill to file the form.


Do not trust the online application alone.

Mail a certified copy. Or call me for help
(949) 784-9699