Tacoma’s Community Gardens

Partnering with Harvest Pierce County since 2010, the City of Tacoma has 35 community gardens, including 11 on city owned property. Several of these gardens are in the North End, including the Proctor Community Garden and Orchard & Vine.

 

I have included the link to the map of all the Pierce County Gardens, including those in Tacoma:   Pierce County Community Garden_Final

For more information check out, Harvest Pierce County

IRS Clarifies Home Equity Loan Interest Deductibility

As a member of the National Association of REALTORS, I receive news about Real Estate. This article clarifies mortgage interest deduction on a home equity loan.

The Internal Revenue Service (IRS) has issued a news release(link is external) clarifying that in many cases, interest paid on home equity loans remains deductible under the new tax reform law.  Many questions have arisen on this issue, as many media reports on the new tax law indicated that as of 2018, interest is no longer deductible on home equity loans.  The IRS stated that “despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit (HELOC) or second mortgage, regardless of how the loan is labelled.”  The key factor is that the proceeds of such loans must be used to buy, build, or substantially improve the taxpayer’s home that secures the loan.  Interest on a home equity or other loan used for personal living expenses (e.g. paying off credit card debt, education, or vacation expenses) would not be deductible.

Your Credit Report

Your Credit Report plays a key factor in buying a home.  It is important that you order you credit report and review it carefully.  There are often mistakes on credit reports, and you are the one who is most likely to find these errors.

I have attached a link to a worksheet that will help you review your credit report. Keep your completed checklist with your credit report and always keep your hard copies in a secure place.  If you are not going to save your report, shred it!

Here is the link:  Credit Report

Closing Disclosure

When it is time to finally sign the papers to close on the home you purchased, Lenders are required to provide you with a  Closing Disclosure three business days before your scheduled closing. Use these days wisely. This tool will help you double-check that all the details are correct. If something looks different from what you expected, ask why. Now is the time to resolve problems—if the explanation you get isn’t satisfactory, keep asking questions.  Check it out:  Closing Disclosure

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