Given a passage and a query based on the passage, generate an unambiguous, concise and simple answer to the query from information in the passage. Note that the answer may not be present in exact form.

Input: Consider Input: Average charitable donations by income. The short answer is that the average itemized tax return includes $4,790 in charitable deductions, but that doesn't tell the entire story. First, not everyone who donates to charity can use the charitable deduction. To get the tax break, you need to itemize deductions on your tax return. The IRS has long required taxpayers to subtract the value of anything they receive in return for a charitable contribution before taking a deduction, so someone who gets a $5 tote bag for a $50 donation to a public TV station, for example, can only deduct $45. The national average in 2015 for deductions for state and local taxes, or SALT, was $12,471, and sponsors of the new tax law said the $10,000 cap combined with lower rates should protect most Americans from facing a higher tax bill. As a result, nonprofits are pushing Republicans to include something else in their tax plan that they say would increase charitable donations, but keep taxes simple: They want something called a universal charitable deduction, which taxpayers would get on top of the standard deduction. De Leon is proposing that California provide a credit on its state income tax for amounts given to a state charitable fund as a way to get around the part of the new federal tax law that limits deductions for state income taxes but not for charitable contributions. You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions. Generally, you may deduct up to 50 percent of your adjusted gross income, but 20 percent and 30 percent limitations apply in some cases. Nonprofits Fear House Republican Tax Bill Would Hurt Charitable Giving Even though Republicans promise to preserve the deduction for charitable donations, nonprofits say other proposed changes in the bill could discourage as much as $13 billion in annual giving. Accessibility links Charitable Contribution Deductions. This article generally explains the rules covering income tax deductions for charitable contributions by individuals. You can find a more comprehensive discussion of these rules in Publication 526, Charitable Contributions, and Publication 561, Determining the Value of Donated Property. For information about the substantiation and disclosure requirements for charitable contributions, see Publication 1771. “The tax benefit of a federal or state charitable contribution is not regarded as a return benefit that negates the charitable intent,” the IRS memo said, citing federal tax court rulings in 1985, 1989, and 1991. Deductions for charitable gifts do not face the same limit as deductions for state and local taxes, a fact California and New Jersey want to exploit. Query: average charitable deduction

Output: The average itemized tax return includes $4,790 in charitable deductions


Input: Consider Input: Overview. 1  In Missouri, the primary method of deed of trust foreclosure is non-judicial. However, if the deed of trust does not contain power of sale language, the lender may seek judicial foreclosure. 2  As is often the case, the best time to purchase property in Missouri is during the preforeclosure period. Most properties are bought during this time, which is the reason foreclosure.com offers its subscribers the nation's largest and most accurate preforeclosure listing inventory on the Internet. Basic steps for you to consider during the preforeclosure purchase process: 1  Contact the owner directly. As a Foreclosure.com subscriber, you have easy 24/7 access to the owner's contact information, which is provided on the Details screen of the preforeclosure property. In Missouri, the primary method of deed of trust foreclosure is non-judicial. However, if the deed of trust does not contain power of sale language, the lender may seek judicial foreclosure. As few as 60 days may pass from the time a property owner receives a notice of default until the property is sold at a public foreclosure auction sale. Accordingly, don’t wait until the property becomes Real Estate Owned (REO) after the auction because the property will cost more than it would in preforeclosure. A deficiency judgment is not generally available to a lender if a property in foreclosure is sold at a public foreclosure auction sale for less than the loan amount that the underlying mortgage secures. How long does it take to foreclose a property in Missouri? Depending on the timing of the various required notices, it usually takes approximately 60-90 days to effectuate an uncontested non-judicial foreclosure. This process may be delayed if the borrower contests the action in court, seeks delays and postponements of sales, or files for bankruptcy. About 30 days at the outside. If you do not move voluntarily the new owner must file suit and have you served with summons the court date will be about 2 weeks from then. After that they will have about 2 weeks to ask the sheriff to move you out. Many Missouri properties are bought at public foreclosure auction sales, but the competition may be strong and the prices are higher than during preforeclosure to cover the lender's legal costs. At this point, it is unlikely that the homeowner will be able to avoid foreclosure. To find these sales, read newspaper notices prior to the auction date, look for public notice posted - when required - on the property, or search other public places in the county where the real estate is located. top Basic steps for you to consider when purchasing a property at a public foreclosure auction sale: Contact the Lender's Representative Power of Sale Notice Requirements: 1  A notice of foreclosure sale must be published at lease twenty (20) times and continued to the day of sale in the event the property is located in a city of 50,000 inhabitants or more. Foreclosure is a non-judicial remedy under this theory. The document that secures the title is called a deed of trust. Missouri law also permits mortgages to serve as liens upon real property and for judicial foreclosures to occur through the courts. Because the power of sale provisions in trust deeds is a faster mechanism to effectuate foreclosure and because there is no right to redemption, this is the primary vehicle used to foreclose. top: How are Missouri mortgages foreclosed? The primary method of foreclosure in Missouri involves what is known as non-judicial foreclosure. Contact the Lender's Representative. 1  Contact the trustee, lender's attorney, public trustee, or sheriff and ask what is required to purchase the property at the auction. 2  Ask for a copy of the purchase agreement, or contract of sale document, that you will need to complete if you are the winning bidder. Query: how long to foreclose property in missouri

Output: approximately 60 to 90 days to foreclose property in Missouri.


Input: Consider Input: As little as 5% down, plus mortgage insurance, can secure you a conventional home loan, but you'll wait longer than 2 years in order to qualify, perhaps as long as 7 years. VA Loan requirements after a short sale are only 2 years, offer 100% financing, no required mortgage insurance and a FICO score of 550 or better. Qualifying for an FHA Loan After Foreclosure FHA loans are the most forgiving of foreclosures. To qualify for an FHA mortgage loan, you must wait at least three years after the foreclosure. The three-year clock starts ticking from the time that the foreclosure case has ended, usually from the date that your prior home was sold in the foreclosure proceeding. That leaves about 4 million families who lost their homes to foreclosure who may still have it listed on their credit reports. That's a lot of people who potentially may want to buy a home within seven years of foreclosure. To be approved for a home loan within seven years of a foreclosure, here are some loan options and things to do: Improve your credit score FICO credit scores range from 300 to 850 and most mortgage lenders require at least a 620 to 660 score. The Federal Housing Administration (FHA) is not a mortgage lender; the FHA does not make loans. Rather, it insures loans for banks that do. The FHA publishes a compendium of rules known as FHA mortgage guidelines and so long as a mortgage meets of the rules' minimum standards, the FHA will insure the loan-issuing bank against default. A better name for an FHA mortgage, then, might be FHA-insured mortgage; it's a more accurate reflection of the relationship between the FHA and mortgage lender nationwide. FHA mortgage insurance is available for any loan which meets the following two conditions 1  : The loan must be made by an approved FHA lender. 2  The loan must meet the minimum standards of the FHA Mortgage Guidelines. 1 What types of home loan can you get after bankruptcy? 1.1 FHA Loans; 1.2 VA Loans; 1.3 Conventional Loans; 2 How does bankruptcy affect your credit score? 3 Can you buy a house even after a foreclosure? 4 What if you had both a bankruptcy and a foreclosure? When you are ready to fill out an FHA loan application in the wake of a short sale, what do the FHA loan rules say about having such a transaction on your record? FHA loan rules for new loans following a short sale may seem complex--the rules that apply to you often depend on the status of your mortgage loan prior to the short sale. We have written about these rules in the past, but since the publication of the FHA Single Family Loan program handbook, HUD 4000.1, there have been many changes and updates to portions of FHA home loan policy. FHA has a list of short sale (also known as a “pre-foreclosure sale) rules and regulations in HUD 4000.1 for borrowers looking to become homeowners once more. At least two years must have elapsed since the discharge date of the borrower and / or spouse's Chapter 7 Bankruptcy, according to FHA guidelines. This is not to be confused with the bankruptcy filing date. A full explanation will be required with the loan application. Simply fill out the 4-step questionnaire and find out: 1  If you are eligible for a home loan, 2  If you can apply for a loan now or need to wait longer, and. 3  What type of home loan you are qualified for. Buying Another Home After Foreclosure. Depending on your previous loan amount and where in the country you’re buying, you may have enough VA loan entitlement left over to qualify for another loan. You’ll want to get a look at your Certificate of Eligibility to see how much you have left, if any. Prospective buyers can do this themselves or ask a lender for help. Along with any required waiting period, you’d also need to meet the standard credit, debt-and-income and related requirements ... Query: how long do you need to wait for fha loan after foreclosure


Output: You need to wait for three years fha loan after foreclosure.


