6 smart ways your tax refund can help you get into your first new home

6 smart ways your tax refund can help you get into your first new home

The average tax refund for the 2014 filing season was nearly $3,000 and the IRS doles out about 100 million of them every year, according to IRS data. If you'll be getting a refund this year, instead of spending it on more stuff you don't need, why not invest in your future and use your refund to help you make that first-time home purchase you've been dreaming about?
"Your tax refund can be a great tool to help you progress toward homeownership," says Eric Hamilton, president of Vanderbilt Mortgage and Finance, Inc. "You can use it in a number of ways to facilitate the home-buying process, from putting it toward a down payment on a new home to paying down high-interest credit card bills - a move that may help improve your credit score and borrowing power."
Here are six ways first-time homebuyers can use their tax refund to help them get into their new home:
1. Put it toward a down payment.
The days of buying a house without any down payment are pretty much gone for most people. Depending upon the loan program, a down payment can be significant. The more you put down, the less you will have to borrow, and the less you'll pay in interest over the life of your mortgage. You can open a separate savings account and use it to build your down payment fund and deposit your tax refund into it so you won't spend it. Vanderbilt offers an online guide to down payments at www.vmfhomeloan.com.
2. Use it to improve your credit score.
A good credit score can help you get the best possible mortgage offer, so put your tax refund toward actions that may help improve your score. For example, paying down high-interest revolving debt can help improve your credit score, so use your refund to pay off credit cards and avoid accumulating any more credit card debt while you're saving toward your first home purchase.
3. Apply it to closing costs.
When a home purchase is financed, closing costs like attorney's fees, appraisal and inspection fees, title insurance, and escrow costs are typically charged and are not always permitted to be rolled into your monthly mortgage payment. Financing costs can be quite expensive and are required in addition to the down payment, and you may need to pay these costs in cash. Your tax refund can be a great way to help pay for closing costs.
4. Put it toward taxes and insurance.
Once you own a house, you'll need to pay property taxes on it and insure it. You can also put your tax refund toward paying these costs. Or, if your taxes and insurance are paid through your mortgage, use your tax refund to purchase additional insurance - and greater security - such as an umbrella policy. Consult your insurance agent to determine whether purchasing additional insurance coverage is right for you.
5. Use it to cover moving costs.
Even if your entire home-buying process goes smoothly and you've done a great job of saving money and managing your finances, you'll still face expenses associated with moving into your new home. Your tax refund can help cover the cost of renting a moving truck, purchasing packaging material, paying deposits to start utilities service and more.
6. Use it to build your emergency fund.
Every homeowner should have an emergency fund - a savings account with a balance sufficient to cover several months' of expenses, including your mortgage payment. An emergency fund can help protect you from financial issues if you lose your job or experience an unexpected expense, such as a major car repair.

Money coming our way.

Tax refunds coming to Long Islanders

Plainview and old-Bethpage New York House Selling Prices for January 2016

Your neighbors Bottom Line Does Affect Your Homes Market Value.

Plainview and old-Bethpage New York House Selling Prices for January 2016

St #	Street Name	Sfx	Town	SellingPrice	Style
32	Crescent	Dr	Old Bethpage	605000	Split
15	Sheridan	St	Old Bethpage	425000	Ranch
2	Stan	Ct	Old Bethpage	440000	Ranch
20	Barnum	Ave	Plainview	479000	Ranch
4A	Belmont	Ave	Plainview	593000	Hi Ranch
156	Central Park	Rd	Plainview	309000	Ranch
7	Clearwater	Dr	Plainview	475000	Cape
5	Diane	Ct	Plainview	500000	Split
7	Eldorado	Blvd	Plainview	400000	Colonial
138	Gerhard	Rd	Plainview	590000	Colonial
11	Gloria	Pl	Plainview	386000	Ranch
1	Harold	Rd	Plainview	445000	Exp Ranch
29	High Ridge	Rd	Plainview	700000	Colonial
112	Hillwood	Ln	Plainview	550000	Hi Ranch
74	Jamaica	Ave	Plainview	529000	Split
16	Janet	Dr	Plainview	405000	Exp Ranch
15	Library	Ln	Plainview	535000	Split
28N	Lincoln	Rd	Plainview	670000	Colonial
174	Morton	Blvd	Plainview	440000	Ranch
52	Nassau	Ave	Plainview	450000	Cape
89	Northern	Pkwy	Plainview	605000	Ranch
96	Palo Alto	Dr	Plainview	395000	Condo
95	Plymouth	Rd	Plainview	920000	Colonial
70	Sagamore	Dr	Plainview	705000	Condo
31	Sylvia	Rd	Plainview	590000	Split
26	Toni	Ct	Plainview	542000	Split

Homeowners liable for snow, ice control

Homeowners liable for snow, ice control

       During the winter months, it’s common to see shopping centers and business owners out and about clearing snow and ice from pathways, parking spaces and entrances. But this isn’t just good business to help customers get in the door — it’s also a liability issue should someone slip and fall and injure themselves. Homeowners, too, face similar, albeit more limited, liability if they fail to take adequate steps to remove such slippery hazards from their property.
Generally speaking, homeowners are responsible for limiting dangers on their property, but in some cases, this can also extend to public sidewalks abutting your home. In some localities, governments also require homeowners clear snow and ice or face fines. A regional survey of county and municipal agencies conducted by the Salt Institute found 83 percent have written policies directing property owners to remove accumulated snow and ice "within 24 hours of the end of the snowstorm." Penalties for property owners not complying can range from nominal tickets, to misdemeanors punishable by up to 90 days in jail, to fines of up to $500.
Shoveling snow is simple, but ice removal is another matter, and nothing works better to remove or prevent ice from forming than salt. Salt lowers water’s freezing point, the temperature at which it changes from a liquid to a solid and vice versa. The most effective way to use salt is to melt the snow or ice that is right at the pavement. If you can do this, then you will find it much easier to shovel the snow or ice from the sidewalk. This process, preventing water from freezing in the first place, is called anti-icing. It is best achieved by putting salt (or some other anti-icing material) down on the sidewalk when a freeze or a snowfall is expected. In contrast, melting water already frozen is called deicing and in this case salt is applied once ice appears. It still works, but is less efficient than anti-icing.
Commercially available anti-icing materials include salt (sodium chloride), calcium chloride, magnesium chloride, potassium acetate and calcium magnesium acetate. Each has its advantages and disadvantages but salt remains the best choice for use at temperatures above 15 degrees Fahrenheit (-9.4 degrees Celsius). For extremely low temperatures, look for a mixture using calcium or magnesium chloride instead.
Laws regarding snow and ice clearing vary by state and from locality to locality, but most mandate some action must be taken within a reasonable time period (often 24 hours) after it stops snowing. For example, the Illinois Snow and Ice Removal Act states that any owner who "removes or attempts to remove snow or ice from sidewalks abutting the property shall not be liable for any personal injuries allegedly caused by the snowy or icy condition of the sidewalk resulting from his or her acts or omissions unless the alleged misconduct was willful or wanton."
The dangers from slips and falls should not be taken lightly, especially for the elderly. Each year thousands are rushed to emergency rooms as a result of icy falls with injuries that could have easily been prevented. One enterprising hospital, St. Vincent’s in Indianapolis, Indiana even decided to give away road salt to local residents to try and prevent such injuries and the resulting emergency room visits. In the end, the person who is most likely to slip and fall is the homeowner themselves.

Plainview & Old-Bethpage New York House Selling Prices for December 2015

St #	Street Name	Sfx	Town	SoldPrice	Style
9	Brixton	Rd	Old Bethpage	409000	Ranch
14	Fairway	Dr	Old Bethpage	697000	Hi Ranch
31	Gerald	Ln	Old Bethpage	605000	Hi Ranch
19	Sheridan	St	Old Bethpage	520000	Ranch
2	Woodland	Dr	Old Bethpage	630000	Colonial
64	Barnum		Plainview	310000	Ranch
24	Birch	Dr	Plainview	436000	Ranch
7	Brook	Path	Plainview	518000	Split
10	Bucknell	Dr	Plainview	750000	Hi Ranch
5	Country	Dr	Plainview	450000	Exp Ranch
20	Cranberry	Ln	Plainview	590000	Split
92	Floral	Dr	Plainview	637777	Ranch
2	High Ridge	Rd	Plainview	800000	Colonial
43	Hope	Dr	Plainview	473000	Ranch
3	Jano	Pl	Plainview	559000	Hi Ranch
35	Kalda	Ln	Plainview	380000	Exp Ranch
40	Main	Pky	Plainview	941000	Colonial
26	Main	Pky	Plainview	375340	Exp Ranch
62	Marilyn	Blvd	Plainview	500000	Split
4	Melony	Ave	Plainview	901500	Colonial
115	Morton	Blvd	Plainview	455000	Ranch
18	Peter	Ln	Plainview	460000	Exp Ranch
5	Presidential	Dr	Plainview	1310000	Contemporary
22	Richard	Ct	Plainview	505000	Hi Ranch
51	Sagamore	St	Plainview	545000	Split
24	South Oaks	Blvd	Plainview	580000	Split
2	Steven	Ln	Plainview	651000	Split
40	Sylvia	Ln	Plainview	550000	Split
6	Sylvia	Ln	Plainview	482500	Ranch
10	Turnberry	Ln	Plainview	805000	Colonial
124	Washington	Ave	Plainview	606000	Hi Ranch
38	Wendell	St	Plainview	318000	Exp Ranch
21	Willben	Ln	Plainview	515000	Split
81	Winthrop	Rd	Plainview	815000	Split