Basic accounting question – is a loan shown as income during the year the company (Inc.) receives the money?
Question by Independent_guy: Basic accounting question – is a loan shown as income during the year the company (Inc.) receives the money? Hi All, seek approved When a company (corporation) gets a $ 100, approved 000 loan, is the loan shown as a loan or INCOME in the company’s tax return/tax filing? THANKS. Best answer: Answer by pbroniNo, loan proceeds are not treated as income, and they do not flow through the income statement. Only if the loan is forgiven by the lender might the loan amount need to be recorded as income. Give your answer to this question...
Read MoreWhat’s the best place/way to apply for a home improvement loan?
Some cool chateau pictures: Château de Boursheid Image by Marc Ben Fatma – check out Benymarc.com and like my FB Château de Boursheid (Castle of Boursheid ) If you would like to see a lot more properties click here… Question by Danielle: What’s the best place/way to apply for a home improvement loan? I inherited a home that seriously needs repairs. I don’t have great credit though and would like to apply for a low interest home improvement loan, sick but have no idea where to start. I do have access to a credit union. Thanks! Best answer: Answer by cafalldaviesBad credit is going to be your #1 problem, but if there is equity in the home you can borrow a Home Equity Line of Credit against it. Most commercial banks/credit unions will allow you to set up autopay on it so you don’t even have to think about making the payments… which is really good because if you don’t pay, you could lose the house. For most commercial banks you will need a minimum 680 FICO score or a cosigner with a higher score to get a home equity line, but credit unions often have lower standards, so you should check with your credit union. What do you think? Answer...
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Question by Help Please: Are there any current subprime Mortgage lenders in NYS? I have a credit score of 620 and my chapter 7 bankruptcy was discharged 5/08. Are there any subprime Mortgage Lenders is open in NY? Best answer: Answer by loanmasteroneEven with your chapter 7 bankruptcy you might still find a lender that can be of assistance to you. It has been over 12 months. In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, sale symptoms with a mortgage broker, try clinic which you can find one in your local telephone book. Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA loans if you qualify for one. He will fill out this application, which takes awhile so grab your favorite beverage and sit down. Once you have completed the application, he will run your credit report which will have your credit scores. These credit scores will determine your interest rate. The amount of your monthly debt payments you are required to pay as per your credit report and the amount of mortgage you can take on based on your income will determine the amount of house you will be able to purchase. When you speak with the mortgage broker you will need the following documents to complete the loan application, there will be others, but this will get you started. #1 One month of pay stubs for each person that will be on the mortgage. #2 Six months bank statements from each bank in which you bank as well as statements from any 401K from you place of employment. #3 Two years of federal income tax along with the W-2 that match. Once he has all that he need to do he can then issue you a pre-approval letter so you can purchase a home. In this pre-approval letter will be the amount of house you are qualified to purchased. Once he gives you this pre-approval you may now find a real estate agent to find yourself a home or he might have a referral. Now make sure before you get your pre-approval you and your mortgage broker go over all your options as to the mortgage programs you qualify for, the interest rate, monthly payments. If you are getting a FHA, fixed rate, two loans to eliminate PMI like an 80/20 or one loan, if you are qualified for and approved for a 100% loan. You should select the loan that best suit your financial condition at the time. That could be an adjustable rate loan. It could be a fixed rate loan for 5 or 10 years and then adjust. Some adjustable rate mortgages only adjust once. Make sure your mortgage broker explain all your options so you may make an intelligent decision. What might be good for one person might not be good for you, in other words just because your friends and all your real estate buddies are telling you about the great fixed rate they got, your financial situation might call for something else. So select the best option for you and your financial situation. You should also get a Good Faith Estimate (GFE) which will indicate the cost you will have to pay for getting this loan. It will also indicate the amount of your down payment. Once you have found a home the real estate agent will then prepare a contract for you and the seller to sign. Your mortgage broker will now order an appraisal...
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Read Morewhat are some acceptable reasons for employment gaps for a home loan underwriter?
A few nice condominium images I found: Condominium windows 3 Image by tanakawho Lights from condominium windows. Pushing the shutter, thumb cure I swang my camera. Rather intriguing outcome, online more about is not it?^?^?? For much more properties click right here… Condominium windows 1 Image by tanakawho Lights from condominium windows. Pushing the shutter, I swang my camera. Really interesting outcome, is not it?^?^?? Much more fantastic houses click right here… Question by Emmu: How wise would it be to try to buy a home when I possess bad credit? My fiance and I want to buy a home but our credit is not good. His is better (in the high 600) and mine is in the low 600. Would it be better to wait until our credit improves to buy a home(this might take years) or to try and buy a home now and face higher rates? Best answer: Answer by bishop_larryI would try an interest only loan for 3-5 years, diagnosis this would enable a decent payment even with a high interest rate. Show the lender a good payment history and refinance at a later date. Depending on your current rental costs the interest only mortgage pmts might be similar. Add your own answer in the comments! Home Sweet Home Of those refinance applications, salve 29 percent of them in the first week of December were applied for through the federal Home Affordable Refinance Program (HARP). That program, of course, is the one set up to help people who are having trouble paying … For more informaiton please visit here… Question by sparklle0913: If I make 48, stuff 000 a year, more about can i be qualified to buy a house that ranges from 170,000-180,000? How do i know i can get approved and if i am in Houston Texas, where can i go with this at a cheap mortgage lender at that. I want the best and good mortgage rate possible, does anyone have any recommendations for a first time buyer? Or any good loan places for a house? Best answer: Answer by Pabloyou cant afford it, plain and simple Add your own answer in the comments! A handful of great chateau photos I discovered: Château de Pizay Image by Olivier Bruchez Château de Pizay, shop Saint-Jean-d’Ardières, France. For a lot more houses click here… Ga. counties sue HSBC claiming loss of tax base When visitors tried to visit the site, pills a message appeared stating "This SiteMore >> …. In addition to reducing tax income, adiposity vacant or abandoned homes that are in or near foreclosure create additional costs for the counties, visit this the lawsuit says. … The … If you would like more informaiton please visit here… Minos lauds Dawos' economic devt plan Minos pointed out that a big percentage of family incomes is for the children education especially those who do not have loans or scholarships. “All these point to the very basic- people's income and so Dawos hit the right note,” he said. … last … More informaiton please visit here… by Chris Devers Question by Annabelle: When does your home go into foreclosure? If you haven’t paid for your mortgage in 3 years and have applied for various different types of loan modification programs, and but the banks are just taking too long to answer… what happens? What actually determines if your house goes into foreclosure or not? Also, more about a huge down deposit was put on this home…(i dont know if that makes a difference) Thank you for your answer, cialis 40mg but does it not make...
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