Tax Tips From Fox Business

Tax Tips: The 7 Things to Do Before January 1

By Kate Rogers

Published December 29, 2010

| FOXBusiness

Although springtime and warm weather may seem distant, tax season will be here before you know it. With 2010 on its way out, here are the seven things you can do now to get your taxes in order before January 1 -- to make life easier when it’s time to file your return, and maybe even to save some cash.

1. Get organized. By January 31, taxpayers should have all of their W-2 paperwork in hand, and according to Mark Steber, chief tax officer at Jackson Hewitt, there is no reason to wait to file your return in 2011. “Make a plan to get your returns started early,” Steber said. “Gather your documents and file by a certain date.” Last year’s refunds averaged around $3,000, according to the Internal Revenue Service.

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MSNBC reports that Mortgage rates Raise slightly

Mortgage rates up from yearly lows

National average for a 30-year fixed loan ticks up slightly to 4.79 percent

Rates on 30-year fixed mortgages ticked up this week from the lowest level of the year.

Freddie Mac says the average rate rose to 4.79 percent, up from 4.78 percent last week. A year ago, the rate averaged 5.29 percent.

Rates dropped to a record low of 4.71 percent in December, pushed down by a Federal Reserve program that reduced borrowing costs for consumers. That campaign ended in March. 

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Hope for Homeowners message from Martin O'Malley

 Message from: Martin O'Malley/Anthony Brown

Friend —  Imagine having to look your children in the eyes and tell them you'll have to leave your home, maybe your whole community, for good. Over the course of the national foreclosure crisis, thousands of Marylanders haven't had to imagine this ordeal. They've lived it. And every uprooted family, every boarded-up house, affects all of us — our neighborhoods, our towns and cities, our state.
We can help more families stay in their homes — by forcing mortgage companies to give homeowners facing foreclosure a chance to negotiate better

terms on their loans.  Yesterday, Rep. Elijah Cummings and I urged the General Assembly to pass an emergency bill to do just that.  Join us in taking action today. Urge your state legislators to support the bill, and help protect our families and communities from foreclosures:
http://www.martinomalley.com/HopeForHomeowners
Since 2007, we've helped thousands of families hold on to their homes through programs like the Homeowners Preserving Equity (HOPE) initiative.  But thousands more could be saved if we act together to stop huge, faceless mortgage companies from crushing homeowners under their heel because they're more concerned with profits than with helping families stay in their homes.  Writing your legislators will only take a few minutes, and your support of this emergency bill could have an immediate impact. The emergency bill just needs three-fifths of the votes in the General Assembly to pass and be enacted immediately.
Help make today the beginning of the end of the foreclosure crisis in Maryland. Write your state legislators now:
Thank you,
Gov. Martin O'Malley


http://www.martinomalley.com/HopeForHomeowners

Kenneth Harney, Washington post Columnist discusses Cash-in Refinancing

Cash-In Refinancing Discussed by Washington Post

Private Equity Firms Funding More New construction

Wall street Journal Article on Private funding of new construction projects

In this current financial climate, Big banks are not giving money to builders for new construction, Private equity firms to the rescue. The housing market will recover, and for those who can afford to invest right now, they will reap the benefits if they can hunker down and carry theses investments for a while longer.