Denise Panza on News 12 Cocktails for a Cause! January 12, 2013
Denise Panza on the Brookfield Public Advocate TV Show Educating the Masses on Mortgages!
3rd Annual Cafe Amarcord Angels
raising money and awareness for The American Cancer
This years event raised $5,000
I’m sooooo beyond flattered and honored to be featured in Karen Deis’s newly published book “Reinventing The Heel”!
Denise Panza – Senior Mortgage Consultant of Ridgefield based Hamilton Ladd was recently named a FIVE STAR Mortgage Professional by Connecticut Magazine. Crescendo Business Services surveyed by mail and phone, more than 99,000 homeowners, 25,000 subscribers of Connecticut Magazine, and 250 mortgage and title companies. Respondents were asked to evaluate only mortgage professionals whom they know through personal experience and whether they would highly recommend them to a friend. Crescendo scored and screened each qualified mortgage professional against the Connecticut State regulating bodies to verify that licenses were still current and no disciplinary actions were pending. Before finalizing the list, qualified recipients were reviewed by a blue ribbon panel comprised of mortgage company executives, professional and trade association officers, realty company executives, among others directly involved in the industry. The resulting list is an elite group, representing less than 3% percent of the licensed mortgage professionals in Connecticut. Denise Panza can be reached at 203.743.4739 or at email@example.com
A mortgage that helps those who want to take on a home that needs some renovations.
I had the absolute pleasure of celebrating my 40th with the closest females in my life (minus my mom and daughter). And you guessed it, the location was New York City! I’m pretty sure we laughed every 60 seconds. It was definitely my most memorable birthday to date. Can’t wait to do it all over again for my 50th!
Taxes are one of those inevitable things in life that you pay and try to forget about. We work hard to earn the money we make and it’s nice to keep as much of that cash as possible for a rainy day. Or vacation. Or retirement.
So, although our taxes do pay for good things like roads and schools, police and whatnot, it is still nice when we only have to pay as little as possible to keep a bit more of the money we earned. Obviously I’m not talking about tax evasion here, but I am talking about legally reducing the amount of taxes you have to pay simply by making different choices in life. If you currently rent, you have a huge opportunity to reduce your taxes by buying a home.
Every child has dreamed of finding a pirate treasure map to lead them to a chest of doubloons. They’re hopeful that X will mark the spot to a treasure that Blackbeard overlooked. That fantasy tends to disappear as we grow older, but hidden money can still bring a smile to our faces: When you pull out your winter jacket and find a $10 bill in the pocket, it’s like you’ve just discovered where Blackbeard secreted away his gold. Aaarrrrgh, matey!
If you are thinking about buying a home, there’s a hidden treasure you need to know about. It’s a mortgage, but it’s not like a conventional mortgage that most people are familiar with. I wish it had a cool name like Captain Kidd’s Pirate Mortgage, but it doesn’t. In classic bureaucratic style, it’s called an FHA 203(k), although regular people like you and I refer to it by a name that makes more sense: A Rehabilitation Mortgage.
When you sell something you own, the profit you make is the difference between the low price you bought it for and the high price you sold it for. This is true whether you’re talking about stocks, a lamp on EBay, art, wine, or your home. On stocks and on houses, the profitable difference between the buy-price and sell-price is called a “capital gain.” (And it might be called “capital gains” on wine, as well, but I’ve never tried to sell my $12.95 box of Asti Spumante).
Not surprisingly, when there is a profit to be made, the nice people over at the IRS can sniff it out and want a cut of it and they won’t take your Asti Spumante in exchange. And although we are all happy to pay our fair share of taxes (my attorney told me to write that), we also have the right and privilege to use existing legal transactions to minimize the taxes that we pay. And one of those is the 1031 exchange.
Instead of selling a property — not your primary residence but any other residential or commercial property you own — and paying the capital gains tax on that property, you can invest the entire amount of money from that property into another property. The thinking is that you’re not actually selling a property, but just sort-of “trading it” for another property of equivalent value to continue the investment.
So, let’s say that you bought a home years ago for $100,000 that you intended to retire in, and you have been renting it out. It’s valued at $250,000. If you sell it, you pocket the cash and you would need to plunk down a bunch of that money as a capital gains tax to the IRS on the $150,000 “profit.” However, if instead you do a 1031 exchange, you can avoid the tax because you are simply taking the entire value of your house and getting another investment property instead.
Standing on your head can sometimes be fun… when you’re eight years old. As you get a bit older, being upside down isn’t as enjoyable. You get red-faced and dizzy. Right now, a lot of Americans are upside-down and don’t even know it. In this article, I want to tell you why so many people are upside-down and how to get turned the right way around.