What is homestead exemption? If you own your home, reside there permanently and are a Florida resident as of Jan 1, you may qualify for homestead exemption. Homestead can reduce your taxable value on your home as much as $50,000 - saving you approx $750 annually. More importantly, your assessed value – the value used to calculate your property taxes - cannot increase more than 3% annually after you are granted the exemption.
Who is eligible to file? You must meet the following requirements as of Jan 1:
- Have legal title to the property recorded with Orange Co
- Reside on the property
- Be a permanent resident of Florida
- Be a US citizen or possess a Permanent Residence Card (green card)
When do I file? The deadline to file an application for exemption is Mar 1. Under Florida law, failure to file for any exemption by Mar 1 constitutes a waiver of the exemption privilege for the year. Regular filing is Jan 2 to Mar 1. Pre-filing for the coming year is Mar 2 to Dec 31.
How do I file? Orange Co Property Appraiser office mails all new homeowners a packet six to eight weeks after their deed is recorded in the county records. This packet includes instructions on how to apply online, by mail or in person.
More info from Orange Co Property Appraiser.
Nov 29, 2010
Nov 25, 2010
Shred Fest: UCF
Fairwinds Credit Union is partnering with Crown Shredding to bring you ‘Shred Fest’. Don't miss out on this incredible opportunity to protect yourself from identity theft by safely destroying your personal documents and papers in our shred truck courtesy of Crown Shredding. You can actually see the documents shred right before your eyes!
UCF Fairwinds Alumni Center
N Gemini Blvd, Bldg 126
Wed 12/8/2010
10am to 2pm
more info
UCF Fairwinds Alumni Center
N Gemini Blvd, Bldg 126
Wed 12/8/2010
10am to 2pm
more info
Nov 21, 2010
Best Outdoor Projects To Tackle Now
You probably know that boosting your home's curb appeal is one of the most important ways to maximize its value. But that doesn't mean you need to take on a pricey job like replacing the windows or installing a blue-stone walk. In fact, you'll probably get a bigger bang for your buck with upkeep that costs a few hundred dollars at most - like touching up the paint, mulching planting beds and staining fences and decks.
Another advantage of these maintenance projects: since they generally involve grunt work rather than serious expertise, you can save some cash by doing them on your own.
Read full story at CNNmoney.com
Another advantage of these maintenance projects: since they generally involve grunt work rather than serious expertise, you can save some cash by doing them on your own.
Read full story at CNNmoney.com
Nov 11, 2010
Condo Buyers
Interested in buying a condo? Ready to make that offer? Hold everything. To keep from getting stuck with a lemon, you've got to do your homework. Here are seven important questions you need to ask before buying a condo.
Read full article at smartmoney.com
Read full article at smartmoney.com
Nov 6, 2010
Reduce Credit-Related Junk Mail
If you decide that you don’t want to receive prescreened offers of credit and insurance, you have two choices: opt out of receiving them for five years or opt out of receiving them permanently.
888-5-OPTOUT (888-567-8688) or www.optoutprescreen.com
The telephone number and website are operated by the major consumer reporting companies. When you call or visit the website, you’ll be asked to provide certain personal information, including your home telephone number, name, social security number and date of birth.
More info from the Fair Credit Reporting Act.
888-5-OPTOUT (888-567-8688) or www.optoutprescreen.com
The telephone number and website are operated by the major consumer reporting companies. When you call or visit the website, you’ll be asked to provide certain personal information, including your home telephone number, name, social security number and date of birth.
More info from the Fair Credit Reporting Act.
Nov 1, 2010
Foreclosure Alternatives
By working together, your lender may be able to provide you with options to avoid foreclosure. If you are struggling to make your loan payment, here are some foreclosure alternatives that may be available to you:
Other Sources of Payment Your checking and savings accounts are not your only sources of payment. You can take a hardship withdrawal from your 401K, you can sell stocks or bonds you may own, or you can take the cash value of any life insurance policy. Before you use any of these other alternatives, make sure you understand the tax implications and penalties that may result.
Forbearance Your lender may be able to provide you a short-term postponement of your payments if you are facing a temporary hardship case.
Modification Depending on the severity of your hardship, your lender may be able to modify your loan terms to help get you back on track by giving you an affordable monthly payment.
Refinance Your lender may be able to extend additional credit to help consolidate your mortgage and other credit union obligations.
Short Sale Depending on your situation, if you owe more than your home is worth you may be able to sell your home for less than the loan balance through a 'short sale.'
Deed-in-Lieu After your lender has considered all other options and if your home is free of other loans, liens or judgments, you may be able to qualify for a deed-in-lieu. A deed-in-lieu is where you voluntarily transfer ownership back to your lender.
Source: Fairwinds Credit Union
Other Sources of Payment Your checking and savings accounts are not your only sources of payment. You can take a hardship withdrawal from your 401K, you can sell stocks or bonds you may own, or you can take the cash value of any life insurance policy. Before you use any of these other alternatives, make sure you understand the tax implications and penalties that may result.
Forbearance Your lender may be able to provide you a short-term postponement of your payments if you are facing a temporary hardship case.
Modification Depending on the severity of your hardship, your lender may be able to modify your loan terms to help get you back on track by giving you an affordable monthly payment.
Refinance Your lender may be able to extend additional credit to help consolidate your mortgage and other credit union obligations.
Short Sale Depending on your situation, if you owe more than your home is worth you may be able to sell your home for less than the loan balance through a 'short sale.'
Deed-in-Lieu After your lender has considered all other options and if your home is free of other loans, liens or judgments, you may be able to qualify for a deed-in-lieu. A deed-in-lieu is where you voluntarily transfer ownership back to your lender.
Source: Fairwinds Credit Union
Oct 27, 2010
Title Insurance Matters
Ron Lieber for The New York Times
When home buyers and people refinancing their mortgages first see the itemized estimate for all the closing costs and fees, the largest number is often for title insurance.
This moment is often profoundly irritating, mysterious and rushed — just like so much of the home-buying process. Lenders require buyers to have title insurance, but buyers are often not sure who picked the insurance company. And the buyers are so exhausted by the gantlet they’ve already run that they’re not interested in spending any time learning more about the policies and shopping around for a better one.
Besides, does anyone actually know people who have had to collect on title insurance? It ultimately feels like a tax — an extortionate one at that — and not a protective measure.
But all of the sudden, the importance of title insurance is becoming crystal-clear. In recent weeks, big lenders like GMAC Mortgage, JPMorgan Chase and Bank of America have halted many or all of their foreclosure proceedings in the wake of allegations of sloppiness, shortcuts or worse. And a potential nightmare situation has emerged that has spooked not only homeowners but lawyers, title insurance companies and their investors.
Read full story here.
When home buyers and people refinancing their mortgages first see the itemized estimate for all the closing costs and fees, the largest number is often for title insurance.
This moment is often profoundly irritating, mysterious and rushed — just like so much of the home-buying process. Lenders require buyers to have title insurance, but buyers are often not sure who picked the insurance company. And the buyers are so exhausted by the gantlet they’ve already run that they’re not interested in spending any time learning more about the policies and shopping around for a better one.
Besides, does anyone actually know people who have had to collect on title insurance? It ultimately feels like a tax — an extortionate one at that — and not a protective measure.
But all of the sudden, the importance of title insurance is becoming crystal-clear. In recent weeks, big lenders like GMAC Mortgage, JPMorgan Chase and Bank of America have halted many or all of their foreclosure proceedings in the wake of allegations of sloppiness, shortcuts or worse. And a potential nightmare situation has emerged that has spooked not only homeowners but lawyers, title insurance companies and their investors.
Read full story here.
Oct 24, 2010
Five Things to Know About Energy Rebates
The government's Cash for Appliances program, which lets you score rebates for about $50 to $500 swapping energy guzzling appliances for more efficient models, has gotten lots of attention.
But don't count your greenbacks just yet. The incentives, which are administered through the states, are typically doled out on a first-come, first-served basis, and in many locales the money is already gone. Florida's program, for example, closed just 36 hours after it opened. But some states, such as Michigan, still had plenty of cash in their coffers at the end of May, and other initiatives didn't launch until Jun. To check the status of the program in your state, go to energysavers.gov/financial.
Read full story at CNNmoney.com
But don't count your greenbacks just yet. The incentives, which are administered through the states, are typically doled out on a first-come, first-served basis, and in many locales the money is already gone. Florida's program, for example, closed just 36 hours after it opened. But some states, such as Michigan, still had plenty of cash in their coffers at the end of May, and other initiatives didn't launch until Jun. To check the status of the program in your state, go to energysavers.gov/financial.
Read full story at CNNmoney.com
Oct 19, 2010
Free Halloween Events
Thu 10/28/2010
Lake Nona Trunk or Treat Spooktacular
Lake Nona YMCA
9055 Northlake Pkwy, Orlando
5pm to 7pm trick or treat activities
6:30pm costume contest
Sat 10/30/2010
Halloween Spooktaclar @ Alafaya Library
12000 E Colonial Dr, Orlando
3pm to 4:30pm
Come dressed in your favorite costume and join us for spooky fun with crafts, games and trick or treating!
Online registration
Sat 10/30/2010
Waterford Lakes Haunted Halloween
Waterford Lakes Town Center
413 N Alafaya Tr, Orlando
5pm to 7pm mall-wide trick or treat activities
6:15 pm costume contest in front of Regal Cinemas
Sat 10/30/2010
Avalon Park Spooktacular
downtown Avalon Park
5pm to 9pm
Evening of free family fun including, trick or treating with local businesses, costume parade, pumpkin carving and more!
Lake Nona Trunk or Treat Spooktacular
Lake Nona YMCA
9055 Northlake Pkwy, Orlando
5pm to 7pm trick or treat activities
6:30pm costume contest
Sat 10/30/2010
Halloween Spooktaclar @ Alafaya Library
12000 E Colonial Dr, Orlando
3pm to 4:30pm
Come dressed in your favorite costume and join us for spooky fun with crafts, games and trick or treating!
Online registration
Sat 10/30/2010
Waterford Lakes Haunted Halloween
Waterford Lakes Town Center
413 N Alafaya Tr, Orlando
5pm to 7pm mall-wide trick or treat activities
6:15 pm costume contest in front of Regal Cinemas
Sat 10/30/2010
Avalon Park Spooktacular
downtown Avalon Park
5pm to 9pm
Evening of free family fun including, trick or treating with local businesses, costume parade, pumpkin carving and more!
Oct 14, 2010
Renaissance Senior Center
Put down that crossword puzzle and take the coffee to go because fun activities and social events are just down the road at the Renaissance Senior Center for everyone aged 55 and older all for just $10 annual membership.
Located just south of Curry Ford Rd on Econlockhatchee Tr, Renaissance Senior Center is a mecca of fitness, social and educational activities created to help enrich the active senior community of East Orlando.
Located just south of Curry Ford Rd on Econlockhatchee Tr, Renaissance Senior Center is a mecca of fitness, social and educational activities created to help enrich the active senior community of East Orlando.
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