You can expect to pay at least $3,000 a month for a care in an assisted living center and more than $6,000 a month for care in a nursing home. A long-term care insurance policy typically pays from $50 to $250 per day for nursing home care.
If a home could be worth less in six months than it is today, a lender will be very concerned about getting an accurate value in order to ensure they will be able to recoup the loan amount. In this kind of market, lenders may want an appraisal to be no more than 90 to 120 days old. FHA guidelines once called for an appraisal to be considered valid for six months until January 2010.
Some sources say three years â which is the maximum number of years the IRS has for auditing your tax returns under general circumstances. Most CPAs and tax attorneys will tell you that you should keep your tax returns for at least seven years, and that is the better advice. The IRS can reach back six years if they determine your income has been underreported by more than 25%. Even if you didnât, you have to be ready in case the IRS thinks you did.