Happy New Year!
Wishing you a safe and happy New Year’s celebration and all the best in 2007.
Jackie
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Wishing you a safe and happy New Year’s celebration and all the best in 2007.
Jackie
Once the media latch onto a catchy phrase, it doesn’t take it long to become as irritating as some of the more popular cell phone ring tones. Jonathan Berr writes:
“But even though I have seen the phenomena first hand, I hate the phrase ‘housing bubble.’ Much like Web 2.0, it has evolved this year into a vague buzzword that probably confuses most average investors.”
Click here to read his complete post.
Jackie
Happy Holidays!
Wishing you joy and peace now and throughout the coming year.
Jackie
I had my before-the-end-of-the-year tax consultation with my accountant the other day. One of the issues he wanted to be sure I knew about was that after Aug. 6, 2006, all charitable contributions must be documented to be deducted on your federal tax return.
This means that you won’t be able to deduct the cash you drop into the collection plate, the Salvation Army kettle, a firefighter’s boot, or any other place you might make an impulse contribution after Aug. 6.
Acceptable documentation includes a receipt from the charity, a canceled check, or a credit card statement showing the contribution.
Jackie
Chief Blogger
Wealth Intelligence Academy
The following links have been researched and are provided for educational purposes only and are intended to serve as a resource to assist in finding legislation which might be relevant to conducting foreclosures in states that have passed such laws or are considering enacting such legislation as of September 6, 2006.
This information is not intended to provide a complete resource of states with current or proposed foreclosure laws as such information can change on a daily basis. Nor is this information intended to provide you with any legal advice or detailed guidance on how to properly conduct foreclosure and/or pre-foreclosure activity in your state. As with any regulated activity, we strongly recommend that you consult with an attorney.
Please note that Whitney Information Network, Inc., to include its affiliates and subsidiaries, do not maintain the sites listed below and as such has no responsibility for the accuracy, content and current status of any information provided therein. Please note that the locations of these materials can change without notice.
California
California Civil Code § 1695.0-.17 and California Civil Code § 2495.0-.11
http://www.leginfo.ca.gov/cgi-bin/calawquery?codesection=civ&codebody=1695
Colorado
Senate Bill 06-071 was signed by the governor on May, 30th 2006 and went into effective immediately.
http://www.leg.state.co.us/Clics2006A/csl.nsf/BillFoldersSenate?openFrameset
Georgia
Georgia. Code Ann. § 10-1-393 (b)(20)(A)-(D)
http://www.legis.ga.gov/legis/GaCode/data/10-1-393.htm
Illinois
Senate Bill 2349 was recently passed by the Illinois Legislature and becomes effective January 1, 2007.
Maryland
Maryland Real Property Code Ann. § 7-301-321
To view the Statute, select “Real Property” in the Article field and enter 7-301 in the Section field at the website listed below.
http://mlis.state.md.us/cgi-win/web_statutes.exe
Minnesota
Minnesota Statutes Ann. § 325N.01-.18
http://www.revisor.leg.state.mn.us/data/revisor/statutes/2005/325N/
Missouri
Missouri. Ann. Statutes §407.935-.943
To view the statute, enter the section number separated by a dash into the Search field (i.e. 407-935). You are required to view each section separately.
http://www.moga.mo.gov/statutesearch/
New York
On July 26, 2006, New York enacted Senate Bill 04744-A, which takes effect February 1, 2007.
http://public.leginfo.state.ny.us/menuf.cgi
Rhode Island
In July 2006, Rhode Island enacted House Bill 7650A and Senate Bill 2777A. We are advised the bills are identical. The bills took immediate effect.
http://www.rilin.state.ri.us/BillText/BillText06/HouseText06/HouseText06.html
To find the best deals on credit cards, check out Very Best Credit Cards. This is a useful, easy to navigate site that lists excellent credit card offers in a variety of categories (low interest, airline miles, student, business, debt, etc.).
If you’re looking to restore your credit rating, check out the “bad credit credit cards” link on the site. You can also sign up for the free credit card newsletter.
Of course, use your credit wisely—and only use credit to buy appreciating assets that will help you build wealth.
Jackie
Chief Blogger, Wealth Intelligence Academy
Florida’s Attorney General (and soon to be Governor) Charlie Crist has issued a consumer alert cautioning Florida business owners against variations of a scam that involves deceptive marketing of corporate minutes services. The scammers try to lure corporations into buying corporate minutes documents.
Click here to read the full text of the news release.
It’s likely this scam is occurring in other states as well. If you have a corporation or an LLC, you are required to maintain files that include corporate minutes (laws vary by state, of course) but you don’t have to buy them from an outside source. If you get pitched by one of these scammers (and their pitches often look extremely credible), check with your attorney or your state’s division of corporations to be sure of your particular status, then report the scam to your state’s attorney general.
Jackie
It’s an unfortunate fact of our litigious society: Most people are, at some point, going to be involved in litigation of some type. It could be personal, such as a divorce, custody dispute, or challenge to a relative’s will. It could be business, such as breach of contract. Or it could be one of thousands of other situations that drive people into court.
Certainly you should take all the necessary steps to make sure you stay out of litigation, but you should also know what you’re going to do if you find yourself in a situation of either suing or being sued.
Here’s what I did to make sure I have the best litigators on my team: I found out who the top litigators in my area are. In talking with the clerks at the courthouse, I asked who files the most foreclosures, who files the most lawsuits, and who are the bulldogs who have a reputation for fighting hard and winning. I asked these same questions of other investors at my local real estate investors club meeting. I asked my own attorney who he preferred not to face in court.
When I had identified the top five or so litigators, I made an appointment with each of them. I explained that I am a real estate investor and that I periodically need legal assistance with issues such as owner-financing, leases and other contracts, evictions, and foreclosures. I gave them a $1,000 retainer that would allow me to call on them whenever I need to.
Because of that retainer, they are legally and ethically bound to not represent anyone who is opposing me in a legal action. It would be a conflict of interest.
There are still plenty of attorneys out there for other people to hire if they need to consult a lawyer regarding any situation involving me, whether it’s a simple contract review or a lawsuit. But the best ones are on my team.
Amy Smith
Trainer, Wealth Intelligence Academy
Foreclosures, Lease Options
Have you changed your life for the better with real estate investing? If so, you may be eligible for the Wealth Intelligence Academy International Hall of Fame.
To be considered, go to www.wiacademy.com/superconference, click on the Hall of Fame link, scroll down to the bottom of that page for a link to the Hall of Fame questionnaire. Follow the directions for completing and submitting the questionnaire.
Hope to see you in February at the Super Conference in Orlando.
Jackie