Choosing Your Vacation Home

The thought of a vacation is eternal bliss for some. Vacations are a way to escape the stress of daily activities and to explore new horizons. However, in some cases vacations are simply going to a home away from home. Vacation homes have become increasingly popular overtime. These homes are used for many purposes, but primarily as a second home. Now the question is, where would you want your second home to be?Vacationers tend to visit places with tolerable climates, aesthetically pleasing scenery, as well as areas that offer amenities and services to vacationing crowds. A good place to start when considering a location for this type of home is researching regional climates that cater to your preference as well as distance. A lot of times people take trips to places that have everything they could ask for, but the climate and weather restrict them from taking advantage of those perks. A reason to factor in weather and climate would be for the maintenance of the home. A property that is located in a region known for frigid winters, an owner should be concerned of freezing pipes and how to go about preventing that event from happening. Or in an area that experiences humid summers, an owner should probably be concerned about mold and mildew developing in the home. Distance will also play a major factor. A vacation home should not be so far away that it costs an arm and a leg to get there. Remember, not only are you already paying for a second home, the cost of transportation to your new house should not equal that of a far out vacation. Another role that distance plays in making your decision, would be being able to check on the condition of the home and how frequently you can visit.Nothing would be worse than showing up to your vacation property to find out that it has been flooded by storms or even worst, burglarized. Having a vacation home within a reasonable distance can offer more security for the property and can serve as a venue for hosting events. Now, depending on personal preferences scenery would definitely be part of the equation. More of the luxurious vacation properties are in areas that are close to or in the mountains or on beach or lake fronts. These particular landscapes add to the mystique of the property and, more importantly, the property value. These features also offer recreational activities such as water activities, hiking and exploring. Regardless of the actual location of your new house, make a checklist and be sure to factor in the intangibles you would like your vacation home to offer. One last thing I would like to mention is an increasing trend with vacation homes, which is people turning their vacation homes into retirement homes. So a rule of thumb when choosing a location for a vacation home would be to choose a location that you would also consider for a retirement home.

Can You Stop Foreclosure on Your Home and Property?

Can you atop foreclosure on your home and property? According to RealtyTrac, nationwide, 303,800 homes received at least one foreclosure-related notice in August 2008, up 12% from July. One in every 416 U.S. households received a foreclosure filing last month. My son is a bankruptcy attorney. His business is increasing. People, like our government and because of our government, are in debt because of:1. Free trade agreements have shifted good-paying jobs out of the country.2. Loan institutions have trapped home buyers into low-interest loans that jump to high interest loans.3. The dollar is worth zilch and buying power of the dollar has dropped dramatically.4. The cost of food and fuel, and other items that folks can’t do without, has skyrocketed.5. Most folks don’t save for a rainy day because they are in a rainy day.6. Medical cost for some has bankrupted the family.7. Add Your Reason Here:Banks and lending institutions have not been “user friendly.” Scams have stepped in to take their place and have defrauded many. Only recently have some banks and lending institutions tried to do their part to help strapped loan-holders.It should be the purpose of the lender to determine why a property is in danger of foreclosure, to try to work out a financial solution that will help the borrower to keep the property and to avoid foreclosure to avoid legal fees and other foreclosure expenses.Foreclosure causes the home owner to lose the initial investment in a property as well as the property. They can not obtain credit easily. The owner’s expenses of foreclosure are high. Then there are health and family issues. Even the IRS can help clobber the home owner after foreclosure. After a short sale, the IRS requires that forgiven amounts of the loan given the buyer by the institution be reported as income (Form 1099c).If you are threatened by foreclosure, it is time to get an experienced CPA or attorney to give you some advice. The states have different laws governing foreclosure and bankruptcy.Needless to say, foreclosure should be avoided. Congress has failed to act effectively, favoring Fannie and Freddie executives over the borrowers. These institutions are big contributors to our phony pals in Congress. States are trying to help and are more effective. Also, some people have become active in getting new state laws to prevent foreclosures.Like the stock market, making a game of finances of any kind can be dangerous. The lending institutions are at fault, enticing home buyers to take very risky loans. Their schemes to make big profits have back fired and they both institutions and borrowers are in the sticky mud of depression. So who is getting the government’s help? It is the lenders, not their victims.Can you atop foreclosure on your home and property? Take action before it happens.