Category: FCM Blog

How will Housing be Impacted by the New Tax Plan?

December 22, 2017

Today President Trump signed a sweeping tax bill into law. You may be wondering how this impacts you from a housing perspective. We’ve got you covered.

Quick Recap

Property Taxes: Under the new plan, there will be a $10,000 cap on the amount you can deduct for any combination of state, local, and property taxes.

Interest Deductions: Mortgage interest deductions for new loans in 2018 will be allowed on loan debt only up to $750,000. The current law allows for deductions up to $1,000,000.

Currently, you can deduct interest on home equity loans up to $100,000. Under the new plan, interest on home equity loans will no longer be deductible.

 

Capital Gains Exclusion: While there was talk of this being changed, the final bill approved by Congress left this unchanged. Joint filers will still be able to exclude up to $500,000 when selling your primary residence provided you meet the residency requirement. The single filer’s exclusion amount will remain at $250,000.

 

 

This information does not constitute and is not intended to be a substitute for specific individualized tax planning advice.

 

Links to Information and Resources about the Equifax Data Breach and Protecting Your Identity

September 15, 2017

 

Are you worried about everything in the news regarding the Equifax data breach and don’t know if your personal information might have been exposed?

 

Or maybe you still don’t understand enough about what options you have to protect your credit.

 

You may even feel like you’re covered but want to help your family or friends know more, so that they can protect their credit in case their credit card numbers, birth dates, social security numbers, addresses, or driver’s license numbers were stolen.

 

We’ve compiled a list of links with information and resources about what Equifax says happened, and different steps you can take to protect your identity. We even listed them without hyperlinking so that you can see what websites you are going to.  We truly hope this will be helpful to you and those you love. 

 

To see if your personal information is potentially impacted by the Equifax data breach:

https://www.equifaxsecurity2017.com/potential-impact/

 

To read about what happened from Equifax, what data was accessed, what they are doing, and what you can do:

https://www.equifaxsecurity2017.com/consumer-notice/

 

For a video message from the Equifax CEO, and updates about what they are doing:

https://www.equifaxsecurity2017.com

 

For the list from Equifax of their frequently asked questions:

https://www.equifaxsecurity2017.com/frequently-asked-questions/

 

For information on how to enroll in the complimentary identity theft protection and credit file monitoring service from Equifax:

https://www.equifaxsecurity2017.com/enroll/

 

To place or lift a freeze on your Equifax credit file: 

https://www.freeze.equifax.com

 

An article from the Consumer Finance Protection Bureau about identity theft and what you can do to protect yourself:

https://www.consumerfinance.gov/about-us/blog/identity-theft-protection-following-equifax-data-breach/

 

An article from the Federal Trade Commission about scams to look out for regarding the Equifax data breach:

https://www.consumer.ftc.gov/blog/2017/09/equifax-isnt-calling

 

The Federal Trade Commission’s article about what they recommend you do regarding the Equifax data breach:

https://www.consumer.ftc.gov/blog/2017/09/equifax-data-breach-what-do

 

Resources from the Federal Trade Commission about protecting your identity and what to do if someone has stolen your identity, or is trying to use your personal information to open accounts:

https://www.consumer.ftc.gov/features/feature-0014-identity-theft

 

Website from the Federal Trade Commission to help you report, and recover from, identity theft:

https://www.identitytheft.gov

 

Federal Trade Commission consumer.gov website that explains what your credit history is and why it is important:

https://www.consumer.gov/articles/1009-your-credit-history

 

The official site for requesting a free annual credit report from AnnualCreditReport.com including information about credit reports:

https://www.annualcreditreport.com/index.action

 

Link to the Consumer Financial Protection Bureau confirming validation of AnnualCreditReport.com:

https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-a-copy-of-my-credit-reports-en-5/

 

It’s Selling Time! Home Staging Apps.

July 14, 2017

Sometime in your life there will likely be an opportunity for you to upgrade your living by moving into a new home. With that exciting venture comes the territory of selling your current home. You’ll want to get the most value out of the sale and within the fastest timeline, but where do you start?

 

Decluttering and organizing your home to put its best face forward is a good start, but you’ll likely need to stage it even more to truly show off its assets. What is staging? According to this article from The Balance, “It’s beyond decorating and cleaning. It’s about perfecting the art of creating moods. Staging makes your house look bigger, brighter, cleaner, warmer, more loving and, best of all, it makes home buyers want to buy it.”

 

If you want to try staging your home without hiring a staging expert, here are some resourceful apps we found that could help you get started.

 

Resources for Home Staging

 

Yard Sale Treasure Map

You may want to pick up some great (and inexpensive) decorative pieces for staging spaces in your home. This neat little app helps locate yard sales in your area so you can map out a route for treasure hunting the best unique decor to stage your home and create the mood of the room.

 

Houzz Interior Design Ideas

For some virtual redesign to before you buy, check out the Houzz app. It allows you to virtually try out various pictures of furniture in your own space before you make the purchase. You can even buy through the app if you love the look!

 

 

roOomy

Another great virtual reality app, roOomy is great for stagers and consumers looking to picture your house as their home. Thanks to the app’s catalog of 100,000 3D products from 35 leading home furnishings retailers, you can mix real-time, live views of interiors with your own creative ideas, complete with virtual furnishings and home accessories.

 

iHandy Level

It might sound basic, but when staging your home you’re going to need to make sure all your wall decor is hung straight! This will ensure your home is truly at its best when buyers come through.

 

Good luck in your home staging and selling your home!

 

 

These apps are suggestions and for entertainment only.  First Community Mortgage, Inc. does not own, profit from or endorse any of these apps.

 

Earth Day Every Day

April 21, 2017

Did you know the first Earth Day was celebrated in 1970? Almost 50 years later, have you thought about how we embrace this day in 2017?

In our fast-paced, ever-changing lives, sometimes we forget to slow down and appreciate the natural beauty around us. Maybe you live in a relatively suburban neighborhood where it seems “natural beauty” is limited. So how can you take a step back this Earth Day, April 22, and reconnect with the beauty around you?

Planting

Spring is here and it’s the perfect time to reconnect and rejuvenate your garden. Don’t have a garden? Hopefully, you have a nice neighbor who wouldn’t mind letting you stop and smell the roses! Take a walk and see if there are any community gardens where you can lend a hand this spring.

Feeling super green? Take the time this earth day to plant one thing for your family. Here’s a guide to get you started on your first flower, herb, vegetable, or fruit garden. If you’re looking for a bigger project, consider starting a community garden. We found some great tips on how to get one started here.

Visit the Park

It’s a perfect Spring day for a picnic in the park. Grab a book, a friend, or a family member along with a blanket and some snacks. Leave your phone at home or on silent so you can embrace this moment with friends and nature.

Find a playground and test out the swings, take a ball or frisbee to throw, or even spend time looking at nature.

If there are any trails around your neighborhood, set aside some time to go on a hike or ride a bike.

Additional Ideas for Earth Day

Here are some other ideas you can easily implement this Earth Day:

• Reusable water bottles instead of plastic ones.
• Schedule a home energy audit.
• See if your doors and windows are properly sealed and your appliances are only plugged in when necessary to conserve energy. (This helps the environment AND your wallet!)
• Use energy-efficient light bulbs.
• Bring some plants into your home. They’ll help purify the air in your home and increase your productivity, along with brightening the room and bringing a sense of natural beauty and joy.
• Whether you’re going to work or running errands, consider walking, biking, or carpooling if possible.

Find out about more great ways to save energy here from Energy.gov.

More Earth Day FUN

Check out this cool looking cookie recipe to share some Earth Day happiness! These are “outta this world”!

You can also visit EPA for more activities, resources, and ideas to help make #EarthDayEveryDay.

Let’s all go out and turn up the love for our beautiful Earth!

TMO Golf Tournament

October 15, 2016

3rd Annual Tyler Morrissey Golf Tournament

Benefiting Christmas for the Children and other local charities

October 13th and 14th marked our 3rd Annual Tyler Morrissey (TMO) Memorial Golf Tournament! It was a huge success and we had over 60 teams join us over the 2 days at Indian Hills Golf Club in Murfreesboro, Tenn.

 

 

**Stay tuned for details on the 2017 Tyler Morrissey Golf Tournament!**