BestMoneyinfo's goal is to provide consumers with access to information that can assist them in making informed choices concerning a wide spectrum of financial-related decisions.  BestMoneyinfo is produced by Rick Shaffer, a Boston area attorney and host of TheMoneyShow, which can be heard on WTKK, 96.9-FM, Boston, and online at "LISTEN LIVE" at http://www.wtkk.com/, Saturdays, 1 P.M. -- 4 P.M. and Sundays, 9 A.M. -- Noon (E.T.).

 
Disclaimer

The wise consumer is the informed consumer.  Accordingly, before buying, selling, renting or conducting any real estate transaction, or before making any financial transaction or any major money-related decision whatsoever, all investors and consumers are strongly urged and advised to speak with and take the advice of a qualified attorney, accountant and/or other financial professional.

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MassHousing

MassHousing is an independent public agency that works to increase opportunities for affordable home ownership for middle- and low-income, first time home-buyers in Massachusetts.  MassHousing offers a diverse portfolio of low-interest, low and no-downpayment mortgages, along with borrower protections and flexible underwriting criteria.

MassHousing can be accessed by calling: 
888-MASS-LOAN (888-627-7562), or at www.masshousing.com 

MassHousing is a member of the National Council of State Housing Agencies, a national trade organization in Washington D.C. that works on behalf of the Housing Finance Agencies (HFAs) across the country. In addition to MassHousing, many other states have organizations that help consumers, including first-time homebuyers, with the purchases and/or financing of homes.  The following is a link to a web site that contains a link to every state's individual Housing Finance Agency: www.ncsha.org/section.cfm/4/39/187

 

Homeowner Options For Massachusetts Elders (H.O.M.E.)

Homeowner Options for Massachusetts Elders (H.O.M.E.) is a non-profit agency that works to help protect the equity that low and moderate income elders possess in their homes, and help those homeowners find programs by which they can afford to maintain and remain in their home.  H.O.M.E. services include counseling, education about when, how and what type of reverse equity mortgages are and are not appropriate to use, and referrals to other non-profit agencies that offer Senior Equity Lines of Credit, Modifiable In-Home Care Reverse Mortgages and other programs designed to assist elders in maintaining and remaining in their homes.

For more information, contact H.O.M.E. at 1-800-583-5337 or www.home-ma.org

 

Foreclosure Prevention Program

 Unfortunately, many homeowners today are facing a possible loss of their home through foreclosure as a result of deceptive lending practices on the part of the home owner’s lender. MassHousing, in conjunction with other agencies, is sponsoring a program to help these homeowners acquire an affordable refinance loan so that they may retain ownership of their home.  Additionally, for those homeowners who are facing foreclosure, but not as a result of deceptive lending practices, MassHousing is offering another affordable refinancing program (“My Community Mortgage”) that may be able to help.  Find out if you qualify for either program.

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Tax Info
  • Exclusion Of Capital Gains On Sale Of Home
    Here's a question most home sellers have: What's the tax ramifications of selling your home?
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  • J.K. Lasser: Recommended book for understandable information on preparing one’s tax return and tax rules in general:  J.K. Lasser’s, Your Income Tax 2006 (Most recent edition, for 2005 tax returns).   Prepared by the J.K. Lasser Institute, Mt. Morris, IL (www.jklasser.com); published by John Wiley & Sons, Inc., Hoboken, NJ; available at most bookstores (Listed Price: $16.95)
  • General Federal Tax information and downloadable tax forms: www.irs.gov/
  • General Massachusetts Tax information and downloadable tax forms: www.dor.state.ma.us/
  • State-By-State List of and links to each state’s taxing agency, commission, or department of revenue: www.taxsites.com/state.html#links
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