Savings on state taxes for mortgage insurance payments?

November 4th, 2009

I know that you can use itemized deductions on federal taxes, for the mortgage insurance paid, and property taxes paid.

1. Are there any other itemized deductions which can be claimed on federal forms?

2. Are there any deductions that I can claim on State forms?

Thanks.
I am considering moving to either Maryland or Virginia.

Depends on what state you are in. Some states don’t allow any deductions, even the items you can deduct for federal.

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Why do people get refused home insurance?

January 29th, 2010

Whenever you get a home insurance quote it asks you if you have ever been refused insurance. Why would that happen? And if it does, does it count against you for the rest of your life? Are there any insurers willing to insure such people?

I don’t know what things are like where you live, however here (Vancouver, BC, Canada) most insurance companies give up to 20% off depending on the protection you have. The better the system the less risk of loss hense lower rates.

Check out this site, if you want to find the cheapest home insurance just in one minute,

http://best-cheap-home-insurance-usa.blogspot.com/

Here you can get free quotes from different home insurance companies in your area, its the best way to find an afforable home insurance with a reliable company.

Best Wishes,


What is the best home insurance?

January 26th, 2010

I am looking to get a home insurance for the flat that I am planning to buy soon. Do you know a good home insurances that I could get?
How much would it cost me to insure my flat and the content?
Are there any issues that I should be aware with home insurances?

The ‘best’ home insurance depends on what you consider best.
It could be price, customer service or the depth of cover.
Make sure you read the policy descriptions thoroughly and make sure it covers you for the types of emergency/problems you feel you need.

When do you stop paying home insurance on a foreclosed home?

January 19th, 2010

Our house was not sold at auction and now reverted to lender? We kept up with the home insurance. When does our obligation end for the home insurance? The realtor we talked to that was assigned to the home said we would be given 14 to 30 days before we had to move out. He would work on the 30 days. Our insurance is due the 25th are we still obligated to pay the insurance past that point or has the lender put their own insurance on the home? Our insurance agent has not returned my call into him.

Since the homeowners insurance is also covering your personal property and personal liability, I would not cancel the policy or stop paying until you physically move out of the home. In other words it is best to continue paying it until you move out. Once you cancel the policy the insurance company will send you a refund for the amount you overpaid. When the insurance agent returns your call, make sure that he or she understands that you are still residing in the home.

I am sorry that you have lost your home and wish you better luck for the future.

What is the most affordable life insurance and health insurance?

January 16th, 2010

What is the most affordable life insurance and health insurance?
Where can I find Affordable Health and life insurance for me and my wife?
What is the best web site with online quote?
Any answer will be appreciated.

Try this site where you can compare quotes from different companies in your area

http://cheap-health-insurance-usa.info/

Hope this help,

How much do you pay for your home insurance?

January 11th, 2010

There are so many types of home insurance that I’m confused. Could you roughly estimate how much you should pay if you have a house in Dartford, 3 bedrooms, semi-detached in a good area? The house is in very good conditions according to the survey.

Its all about the goods in your house such as your television etc..
if you want a rough idea just add up the things you would like insured at their value, Check out this site, if you want to find the cheapest home insurance just in one minute,

http://best-cheap-home-insurance-usa.blogspot.com/

Here you can get free quotes from different home insurance companies in your area, its the best way to find an afforable home insurance with a reliable company.

Best Wishes,

Can a home insurance company increase the amount of insurance on your house without your request?

January 7th, 2010

Of course when the amount of insurance in increased, the insurance premium also increases. I have only $125,000 left on the mortgage and insurance company has increased the insurance to cover a value of $305,000. Real estate value of the home is $450,000. My credit rating is excellent and I have not had any insurance claims

Yes. Part of the policy condition is that you insure the home to either 80%, 90%, or 100% of the replacement value, on a standard HO3 Homeowners form. So, if you want the type of policy that is NOT a replacement policy, you’ll have to get a whole different kind of policy.

Of course, a FLAT RATE policy costs about ten times as much as a standard policy.

Real estate value, or market value, has NOTHING to do with the cost to rebuild. If the house burns to the ground, the insurance company does NOT have an option to "buy" it from you for the face amount – they are required to rebuild.

So, you can do it your way, and pay a way, way, way lot of money for a small amount of coverage, or you can do it the insurance company’s way, and insure to full replacement value, for less money.

Or, what most people like you prefer to do, is just get a personal loan for the balance of the mortgage, so you can pay off the mortgage, and not insure the house at all.

How much is your home insurance premium in Toronto east neighborhood?

January 2nd, 2010

Please give me an idea of your home insurance premiums if you live in a neighborhood in Toronto East. For example, I was quoted $1,046/year by a company for a semi-detached home. I’d like to do a really loose comparison.

thats too expensive. forget about land, think about how much it cost to rebuild your house probably $200k and insured to that amount. don’t ask for quotation, go to allstate and tell them what you want.

What kind of lawyer do I need that specializes home insurance policies?

December 20th, 2009

My home got flooded. Insurance denied the claim but I believe I still have a case. What kind of lawyer would I need that specializes in home insurance policies to see if I really do have a case?
Sorry, I should have been more specific. My house was flooded due to a pipe burst.

You need to be much more specific because water damage may be covered in certain circumstances but flood damage is not covered in any circumstance.

In the USA no homeowners policy will cover damage due to a flood. Flood damage is specifically excluded. Coverage for flood would have to be purchased through the National Flood Insurance Program (NFIP).

How do u get insurance on a 2nd home/ vac property?

December 12th, 2009

We are in escrow buying a 2nd home (vac property) and are having a hard time trying to figure out what type of home insurance we need to get. Our current company is saying we need commerical insurance if we are going to rent it out. Whats the difference between them? We arent sure if we will rent it out. Help…?

Why don’t you get a standard policy now. If you do decide to rent it out in the future, you can revisit the issue with your agent then. Check out this site, if you want to find the cheapest home insurance just in one minute,

http://best-cheap-home-insurance-usa.blogspot.com/

Here you can get free quotes from different home insurance companies in your area, its the best way to find an afforable home insurance with a reliable company.

Best Wishes,

How much should I expect to spend on home insurance?

December 5th, 2009

I am planning a home purchase and I want to budget my monthly payment. In the area where I live, I expect to pay approx 650K for a 3bed, 2 bath home. When I calculate my monthly payment, I want to know the Home Insurance component as well as Property Tax for Fremont, CA if possible.

about 1,800 yearly. have it impounded with escro and it wont hurt a bit. i pay 1,600. 530k home in hayward. congrats on the purchase. state farm was a good bet.