Mortgage

The Individual Income Tax Return provides for a tax credit, like withholding, that reduces your tax if you paid some foreign income tax, see Form 1040, Page 2, Line 47.

Most folks will have paid some foreign taxes if they have foreign stocks that pay dividends. There are also other kinds of foreign income that might have foreign taxes withheld.

Nevada State Development Corporation partnered with Wells Fargo Bank to assist Foster Machining with an SBA 504 loan, allowing the machine shop to buy a new building at 5070 Sigstrom in Carson City.

Co-owner Scott Foster — who runs Foster Machining with his brother Timothy — said the company outgrew the 7,500 square-foot space it was renting, and turned to NSDC to buy a building that could more comfortably house its 20 employees and the shop and office space they needed.

Guild Mortgage Company announced Wednesday the opening of a new location in Carson City. The new branch will be a satellite to the Zephyr Cove-based branch at Lake Tahoe.

Deborah Mae (Debbie) Humphrey, branch manager of the Zephyr Cove location, will also manage the new branch. Humphrey has more than 20 years of experience serving Carson Valley and is enthusiastic about expanding Guild's presence.

Paulina Urantowska-Torres has been promoted to the position of Compliance Specialist for the Nevada Rural Housing Authority’s Home at Last department.

Her primary focus will be processing the Mortgage Credit Certificate files for NRHA and to support the agency’s new partnership with NHD for MCCs in the Reno and Las Vegas areas, according to a news release.

The Nevada Rural Housing Authority will host a free Homebuyer’s Expo on Saturday, April 5, from 10:30 a.m. to 2:30 p.m. in the Ponderosa Room at John Ascuaga’s Nugget, 1100 Nugget Ave, Sparks.

The Expo is designed to educate prospective homeowners on what goes into buying a house, as well as maintaining the home after purchase. There will be presenters from NRHA, as well as lenders, builders, title companies and non-profit partners.

The following was read at the Feb. 20, 2014 Board of Supervisors meeting. I said the following:

A Better Plan for Carson City

Now is the time for courage in leadership as we seek to secure financing and determine the timing of projects through a cooperative effort which will bring together the community, city staff and elected officials.

The Nevada Rural Housing Authority has 2013 Workforce Initiative Subsidy for Homeownership funds available to help first-time homebuyers with the necessary down payment to get into a home of their own, but they must be in contract by March 31, 2014.

In Carson City, the income limits are slightly higher and in Lyon and Churchill counties, they are slightly lower. Income limits can be found here.

If you bought rental real estate years ago before the Great Recession and it has gone down in value, you might have a big gain if you sell it. That is especially true if it is rental real estate and you have claimed depreciation expense for many years.

The way to postpone the gain might be to trade it for other investment real estate of equal or greater value. Section 1031 of the Internal Revenue Code allows you to trade for “like kind” property without paying tax on the gain unless you get cash out and/or have more mortgage given up than mortgage assumed on the new property.

“Third Thursday” has been the number one networking event for the Nevada real estate scene and November’s edition of the event looks to be the biggest event in company history.

Coldwell Banker Select Real Estate in conjunction with Stanford Mortgage and First American Title Company had a tremendous turnout for their recent Luxury Home Tour event in the Reno area.

REALTORS® and other Real Estate Professionals were invited to go on a tour of four luxury Coldwell Banker listings and to gain insight into the world of luxury home sales.

Stanford Mortgage and Coldwell Banker Select Real Estate will be joining forces to host The Most Elite Real Estate Networking Event in Northern Nevada. “Third Thursday” will once again be the prime networking event for all real estate professionals, which will take place at the L’uva Bella Wine Gallery.

Please join us at 13925 S. Virginia Street in Reno on Thursday, September 19th, starting at 4:00pm until 7:00pm. Wine and hors d’oeuvres will be provided. This is a tremendous opportunity to gain further knowledge in the Real Estate world.

About The Select Group

CARSON CITY — The Nevada Rural Housing Authority team was presented with the 2013 Pioneer in Housing Award (Large Agency) from Nan McKay & Associates at the 2013 NMA Housing Conference, held in San Diego earlier this month.

According to NMA the judges were greatly impressed by the Nevada Rural Housing Authority’s home financing program to expand homeownership opportunities in the rural parts of the state.

The Carson City Chamber Leadership Institute Class of 2013 will graduate on Thursday, September 12 after an intensive nine months of learning about Carson City and will unveil their leadership project at the Children’s Museum of Northern Nevada.

Consumer advocacy website NerdWallet says Carson City is among the best cities and towns in Nevada for young families. The website notes the capital city's proximity to Lake Tahoe, higher education opportunities at Western Nevada College and Carson City School District's reform-based Race to the Top grant as standout reasons for its choice.

Stanford Mortgage and Coldwell Banker Select Real Estate will be joining forces to host The Most Elite Real Estate Networking Event in Northern Nevada. “

Bank of the West today announced that Lawrance Evans has joined Bank of the West as a vice president and branch manager in Carson City.

In this role, Evans is responsible for the overall operations, customer service, performance and profitability of the branch, as well as community outreach activities. He’ll be based at the Bank of the West branch located at 2976 N. Carson Street.

With our current long daylight hours, extremely hot weather, fierce afternoon thunder boomers, high winds, low humidity, and bone-dry vegetation, you need to be aware of the ever-increasing fire danger surrounding us.

Our countryside is a disaster waiting to happen, and it would only take a moment of carelessness, sparks from target shooting, illegal fireworks, a hot vehicle muffler on a dirt road, an abandoned campfire or a tossed cigarette to create a roaring inferno.

Nevada Sen. Harry Reid said he's pleased the Obama Administration has provided a second extension of the Making Home Affordable Program.

“Nevada has been hit the hardest by the housing market crisis. It is imperative that we work to help struggling homeowners who have lost so much in something that they have worked so hard to keep," said Reid in a press statement.

Greater Nevada Mortgage (GNM) has brought on Tracy McLeod to serve as a Mortgage Consultant in Douglas County. Her diverse background encompasses more than 20 years of experience in mortgage servicing, including title, escrow and loan origination.

McLeod is an active member of the Council of Residential Specialists, the Women’s Council of Realtors and the Sierra Nevada Association of Realtors. Additionally, her efforts in the mortgage industry were recognized by the Nevada Appeal in 2008 when she was awarded Reader’s Choice for Loan Officer.

Employees from Greater Nevada Mortgage and Greater Nevada Credit Union pose with Bob the Builder at last Saturday’s Playhouse Build-a-Thon in Reno, a fundraiser for Truckee Meadows Habitat for Humanity. Thirty-three Greater Nevada employees joined other Habitat for Humanity volunteers to help raffle off five custom-built playhouses.

Mother’s Day is this Sunday and in honor of mother’s, daughters, sisters, aunts, and all women, it is interesting to note how far women have come in just a few short decades when it comes to home ownership.

In 1968, the federal Fair Housing Act was passed making it illegal to discriminate on the basis of race, color, religion or national origin when renting or selling a home. In 1974, the Fair Housing Act was amended to prohibit housing discrimination on the basis of sex. Prior to that time, women (as well as minorities) found it nearly impossible to obtain credit or to buy a home.

This is the second year the Carson City Chamber of Commerce has organized a Home & Garden Show to showcase the many businesses that can help homeowners improve their homes and gardens.

This Saturday, April 20th, Greenhouse Garden Center will again take center stage showcasing their expertise and creativeness in creating a unique garden setting that only the professionals at Greenhouse can create. Owner David Ruf and staff will be on hand to conduct informative seminars as well.

Occasionally, while preparing somebody’s tax return, it appears that they just barely fall short of being able to itemize deductions instead of taking the standard exemption.

Friday, Jan. 18 is the deadline for qualified borrowers who lost their homes in foreclosure to file claims for a one-time payment under the $25 billion national mortgage foreclosure settlement, Nevada Attorney General Catherine Cortez Masto said.

Greater Nevada Credit Union (GNCU) has announced a new Vice President of Marketing and a new Member Services Manager, as well as new managers at the credit union’s Carson City and Reno branches.

Sometimes it takes a while to get the big picture, to see things coming into focus. Now, I am not much for conspiracy theories, but if anything looks like it is being driven by design, this is one. The theories driving it were formulated many lifetimes ago. The people whose sick minds spawned them are long dead. For the life of me I do not understand how any egomaniac could possibly get his jollies from a trend he might have started but maybe not even his great-grandson might see coming to fruition. But there it is, a hundred year timeline on several fronts.

Destruction of money


A popular, new program offered by the Nevada Rural Housing Authority (NRHA) is making home ownership even more affordable. Through the Home at Last™ Access program, qualified home buyers receive a generous 4 percent down payment grant, which does not have to be paid back.

Now, the program is offering even lower mortgage interest rates on a conventional, 30-year fixed rate loan. Through participating lenders, the interest rates on FHA, VA or USDA-RD home mortgages have dropped from 3.75 percent to the current rate of 3.5 percent, which is an historic low.

RBS Financial Products will pay a $42 million settlement to resolve an investigation into the firm’s role in purchasing and securitizing subprime and payment option adjustable rate mortgages in Nevada.
The assurance of discontinuance, filed in Eighth Judicial District Court, requires RBSFP to commit to certain changes in its practices to the extent it securitizes Nevada mortgages and to pay the State $42 million to be used for payments to affected borrowers, mortgage fraud enforcement, and foreclosure prevention, and attorney’s fees and costs.

One of the finest classes of the Carson City Chamber of Commerce Leadership Institute graduated Thursday. Though a small class, they were mighty and bonded well. Over the course of 2012, they shared many wonderful experiences meeting community leaders and learning about our unique community. Following the graduation ceremony, the official dedication and ribbon cutting of the Carson City Senior Center Leisure Hour Room was held. Mayor Robert Crowell and Senior Center Director Janice McIntosh cut the ribbon as the new graduates looked on.

USDA Rural Development State Director Sarah Adler announced the spending