irs: It's 2018. Will I Lose My Tax Deduction if I Refi? - 12/31/17 07:02 AM
It's 2018.  Will I Lose My Tax Deduction if I Refi?
 
If you're asking this question, I'm going to go out on a limb and say you're experiencing some anxiety right about now.  But no matter how bad it gets, realize things could always be worse.  You could be the Internal Revenue Service and tasked on a couple weeks' notice with retooling your shop to both comprehend and implement the Tax Cuts and Jobs Act.  So whether you're a homeowner, a CPA, a Californian, an IRS employee or a blue state Democrat, let's wash down a couple of Xanax with a strong martini … (21 comments)

irs: Fruitcakes, French Hens, Furs or (Gift) Funds? - 12/05/17 05:59 PM
Fruitcakes, French Hens, Furs or (Gift) Funds?
 
It's that time of year again when holiday gift giving is on everyone's mind.  But you know me, compulsive mortgage professional, I want to focus on  but a single aspect of the loan process --- gift funds --- this same form of largesse that is received by a fortunate few for the purchase of a home.  As we go into the holiday season, I want us all to keep in mind that right behind Santa's sleigh is Auld Lang Syne.  And when we're talking tax implications for gift funds, this can matter.
 
Now next year, 2018, all bets … (4 comments)

irs: Don't Get Tricked by the 4506 - 10/24/17 08:54 PM
Don't Get Tricked by the 4506
 
What better time of year than Halloween to talk about being tricked?  One of the ways unsuspecting borrowers can fall prey to one of the worst tricks in the mortgage business is to run into issues with IRS Form 4506T.  This form, which can be found HERE, allows a third party, such as a mortgage lender, to request a transcript of your tax return. 
 
And request it we will!  Any time we have a "fully documented" loan, which is the vast majority of cases, we'll make sure that what the borrower shows us on his tax returns is the same … (19 comments)

irs: 'Tis the Season for Gifts (and Gift Funds) - 12/04/16 07:43 AM
'Tis the Season for Gifts (and Gift Funds)
 
As we come to the end of the year, we, here in Marin County, CA, tend to notice that purchase and sale activity can slip into "holiday mode" even if the weather outside is not particularly frightening.  There's
not much inventory available for buyers to pick over --- and here in 2016 that implies an already slim market --- and sellers are reluctant to list a home for fear it will sit through Thanksgiving and Christmas and then appear "stale" come the New Year.  In short, despite mistletoe, spiked egg nog and holiday cheer it … (5 comments)

irs: "Can I Use My 2013 Tax Return to Qualify for a Mortgage?" - 02/24/14 10:02 AM
"Can I Use My 2013 Tax Return to Qualify for a Mortgage?"
 
Q:  I'm self-employed.  Can I use the income I will show on my 2013 tax return to qualify for a mortgage?  I have not yet filed, but am about to do so...
 
Like most other things in the lending industry, the answer is not entirely simple and is cloaked in a bit of mystery.  But let's review the basics before we jump into the "need to knows."  As they say, "timing is everything," and indeed we find ourselves at the time of year when most are in … (0 comments)

 
Rob Spinosa, Executive Loan Advisor, Marin Mortgage Pro (Supreme Lending, Marin County, CA) Rainmaker large

Rob Spinosa

Executive Loan Advisor, Marin Mortgage Pro

Mill Valley, CA

More about me…

Supreme Lending, Marin County, CA

Address: 1058 Redwood Highway, Frontage Road, Mill Valley, CA, 94941

Office: (415) 367-5959

Mobile: (415) 367-5959

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