Florida’s Amendment 4

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Purposed amendment 4 will be decided in Florida’s state wide election on-November 2, 2010. If passed by Florida voters, amendment 4 will change the process of local land use planning and shift final approval of comprehensive land use decisions from the county commission to a public voting referendum. The originators and supporters of amendment 4, Florida Home Town Democracy Inc. headed by Palm Beach attorney Lesley Blackner has fought for ballot inclusion since 2007 in a controversial initiative effort. Now on the 2010 ballot the proposed constitutional change is in response to … [Read more...]

Florida Taxes

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Fla. property taxes not high, not low WASHINGTON – Oct. 4, 2010 – Using 2009 U.S. Census data, the nonprofit Tax Foundation created a state-by-state comparison of property taxes using three criteria: median property tax paid, property tax as percentage of a home’s worth, and property tax as a percentage of median income. In all three comparisons, Florida ranked around the middle, New Jersey came in at No. 1 for most expensive, and Louisiana finished at No. 50. The median property tax paid on a home in Florida was $1,773, which puts the state at No. 23 in the state-by-state … [Read more...]

Short Sales

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Are short sales short? Negotiating a short sale between the seller and their lender takes skill, patience, and expertise. Everyone involved in the transaction needs to know what to expect. 1. The seller's credit rating will be negatively affected after doing a short sale, but not as much as with a foreclosure. We have heard estimates of a drop of 80-100 points off one’s FICO score. That kind of drop is far less damaging than how a foreclosure can affect your credit score. 2. The seller will receive a 1099 for forgiven debt and will owe taxes on the amount on their primary home, up to … [Read more...]