massi, the property man. and it's time now for the massi memo. exchanges, which is the process of exchanging one property for another without getting slammed with a big tax bill. the detailed step-by-step is on our website, but what you need to know is many people get caught off guard by the tax implications of real-estate transactions. but there are times when you can avoid that by doing a 1031 exchange. an exchange usually involves swapping one piece of property for another through a middle person. and this third party holds the proceeds from your sale and then uses it to purchase the other property. so, technically, you never really make a profit, and it never touches your hands and can't be taxed. now, this is critical. you must designate some potential new properties that you're looking for to buy within 45 days of selling the old one and then close on one of them within six months. that's it for today. be sure to send me your questions or property stories at prortyman@foxnews.com and check out our website at foxnews.com/propertyman. i'm bob

. >> up next, the massi memo. a great apartment like ed henry did by going to an auction? yes, you can, and the property man, i'm gonna tell you how. [ woman vocalizing ] you owned your car for four years, you named it brad. you loved brad. and then you totaled him. you two had been through everything together. two boyfriends, three jobs... you're like nothing can replace brad. then liberty mutual calls, and you break into your happy dance. if you sign up for better car replacement™, we'll pay for a car that's a model year newer with 15,000 fewer miles than your old one. see car insurance in a whole new light. liberty mutual insurance. theno one surface...out there. no one speed... no one way of driving on each and every road. but there is one car that can conquer them all. the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in... and the road you're on. the 2016 c-class. lease the c300 for $399 a month at your local mercedes-benz dealer.

. ♪ >> time now for the massi memo. we met a couple who took their time finding the home that was perfect for them. they did >>> time now for the massi memo. earlier we met a couple who found a home that was perfect for them. they did their research and worked with a realtor and made sure it was something that they could afford. here are some tips to make sure you do it right. find the right realtor. this is critical. he or she needs to understand you. what is important to you and how much you can afford. avoid someone who's trying to sell you on property just to make a sale and get a commission. fully understand your own finances and all of the costs that go into the purchase. get prequalified and get a credit check to make sure when you look at a home, you can actually afford it. study all lending changes with a qualified broker. understand the laws and qualifications on the books at time of purchase. effective october 3rd, 2015, there's an entire new regulation before closing with escrow called know before you owe. y

massi, the property man. and it's time now for the massi memo. ked about 1031 exchanges, which is the process of exchanging one property for another without getting slammed with a big tax bill. the detailed step-by-step is on our website, but what you need to know is many people get caught off guard by the tax implications of real-estate transactions. but there are times when you can avoid that by doing a 1031 exchange. an exchange usually involves swapping one piece of property for another through a middle person. and this third party holds the proceeds from your sale and then uses it to purchase the other property. so, technically, you never really make a profit, and it never touches your hands and can't be taxed. now, this is critical. you must designate some potential new properties that you're looking for to buy within 45 days of selling the old one and then close on one of them within six months. that's it for today. be sure to send me your questions or property stories at propertyman@foxnews.com and check out our website at foxnews.com/prop

. ♪ >> up next, i'll recap everything we learned today in the massi memo. [ woman vocalizing ] ♪ i don'tertainties of hep c. or wonder whether i should seek treatment. i am ready. because today there's harvoni. a revolutionary treatment for the most common type of chronic hepatitis c. harvoni is proven to cure up to 99% of patients who've had no prior treatment. it's the one and only cure that's one pill, once a day for 12 weeks. certain patients... can be cured with just 8 weeks of harvoni. with harvoni, there's no interferon and there are no complex regimens. tell your doctor if you have other liver or kidney problems, hiv, or other medical conditions, and about all the medicines you take including herbal supplements. taking amiodarone with harvoni may cause a serious slowing of your heart rate. common side effects of harvoni may include tiredness, headache and weakness. i am ready to put hep c behind me. i am ready to be cured. are you ready? ask your hep c specialist if harvoni is right for you. [engines revving] you can't have a hero, if you don't have a villain. the world needs vil

massi, the property man. and now it's time for the massi memo. earlier in the show, we talked about debt collection.rom a debt collector, they panic. here's what you need to do. open up the letter. don't be afraid of it. make sure it's a debt that you owe, or you don't owe. if you don't owe the debt, you have rights. you write them a letter, and you say, "hey, this is not my debt. prove it to me that it is." if you check your credit report, it's on your credit report. you say, "hey, that's not my debt. remove it." so, you have rights. don't be afraid of that. debt collectors, for example, they can't garnish or threaten to garnish your wages or put a judgment against you and take your kids away. they do these type of things. they're not supposed to call you late at night. those type of people can be very abusive, and there are specific laws on the books that say you can't do that. so, don't fear it. the biggest problem i have, so many times. we get e-mails. people are afraid. anxiety creates confusion and frustration, which leads to more fear and problems. if you get a registered letter or certified

i'm bob massi, the property man, and it's time now for the massi memo. but if this is something you're looking into, you must pay attention to some key points whether you have a safe room or not. there are some things you need to knowbeforean emergency strikes. if you purchase a safe room independent of your house, make sure you have a reputable manufacturer that meets all the necessary fema requirements. find out if the builder is certified by the national storm shelter association. if you are building or renovating your property, visit disastersafety.org and check out the fortified home standards. very important. ask your builder to meet these engineering and building standards. they can really reduce the amount of damage inflicted on your home by natural disasters, and most are not too expensive. it's all about preparation and design. make sure you itemize your essential needs. no last-minute drills. this is about safety. depending upon how many adults are in the home, make sure each of you have designated responsibility in case of an emergency. nothi

♪ >> time now for the massi memo. time finding the home that was perfect for them. they did their research, worked with a good realtor, and made sure that it was something they could afford. here are some tips to make sure that you do it right. make sure you find the right realtor. this is critical. he or she needs to understand you -- what is important to you and how much you can afford. avoid someone who's trying to sell you on property just to make a sale and get a commission. fully understand your own finances and all of the costs that go into the purchase -- get pre-qualified; get a credit check -- to make sure when you look at the home you want that you actually can afford it. study all lending changes with a qualified broker. understand the laws and regulations that are presently on the books at the time of purchase. now, effective october 3, 2015, there is an entire new regulation before closing with escrow called "know before you owe." you will receive a loan estimate, and three days before closing, a closing

massi, the property man. time now for the massi memo. et a loan modification, dan and dottie -- well, they moved out of their home, only to be asked by the bank two years later to move back in. three years after that, they finally mediated. so, what happened? they agreed to let the bank have the house back in exchange for the deficiency being waived. whatever they owed on the house, it's now waived. you can find info on our website about short sales and everything else that we've covered, but let's review some of the basics. a short sale means that you sell your home, with the lender's consent, for less than what you owe on it. for many people who find their homes underwater, a short sale does offer a way out. but it's not always so simple. the lender requires a showing of what we call "hardship" -- for example, loss of income, medical emergency, death of an income-producing member of the family, and other things. now, you're gonna be asked to provide tax returns, w-2s, or profit/loss statements if you're in business for yourself. the wai

massi, the property man. and it's time now for the massi memo. remember first-time homebuyer gino?didn't end up buying that home, but he did decide to buy another one that kathryn showed him. you know, we covered a lot today from first-time homebuyers to those struggling to pay the bills. the lesson -- you got to protect yourself, and how do you do it? do your homework. today, we met a couple who really struggled to pay their bills when things went bad. but guess what. they did their homework, and they successfully, actually, did a tricky bankruptcy and two short sales. remember this -- bankruptcy should only be used as your last resort, and i call it hitting the restart button. the most common is a chapter 7. simply put, your liabilities are discharged, and you can rebuild your life. it may not be the best way for you to go all the time, so listen -- get a competent bankruptcy attorney, and they will help you decide what's best for you. up next, the property man -- well, i'm heading down south to florida. we have some fascinating property stories and information from the sunshine

. >> up next, the massi memo. ore a great apartment like ed henry did by going to an auction? yes, you can, and the property man, i'm gonna tell you how. [ woman vocalizing ] at ally bank, no branches equals great rates. it's a fact. kind of like grandkids equals free tech support. oh, look at you, so great to see you! none of this works. come on in. at ally bank, no branches equals great rates. it's a fact. kind of like bill splitting equals nitpicking. but i only had a salad. it was a buffalo chicken salad. salad. ♪ >> welcome back. i'm bob massi, the property man. time now for the massi memo, where we review what we learned today. earlier, ed henry told us how he was able to get an amazing deal on a great apartment by going to a foreclosure auction. now, auctions can be a good way to purchase property at below-market value, but like most things in real estate, you better know what you're doing. you must make sure you understand the foreclosure process itself. what type of auction are you at? are you at a trustee

massi, the property man. and now it's time for the massi memo. karen and dennis, fighting to save their home of 18 years. now, they have a few options, but the only thing i see really that's gonna work for them is a loan modification. they need to get the bank to understand their situation and that it's in their best interests to keep them in the home and do something with their mortgage so they could afford the payment. so, i'm gonna help them with that, and in a few weeks, we're gonna update you as to how it worked out. we also looked at westgate time-shares and their beautiful, new property in las vegas. you know, there are different types of time-shares, and before you buy one, you have to decide which one's right for you. so, let's look at them. the right to use -- buyers can lease the property for a specific time each year. if you have points, buyers can consider staying at various locations. you redeem your points after they've been accumulated. also, what we call floating -- the buyer reserves their own time during a specific time of the

we'll tell you what they are when we come back, in the massi memo. [ woman vocalizing ] when you think success, what does it look like? is it becoming a better professor by being a more adventurous student? is it one day giving your daughter the opportunity she deserves? is it finally witnessing all the artistic wonders of the natural world? whatever your definition of success is, helping you pursue it, is ours. t-i-a-a. my school could be bad.ing fast. could be a blast. can't find a single thing to wear. will they be looking at my hair? won't be the same without you bro. ♪ when it's go, the new choice privileges gets you there faster. and now, stay two times and you can earn a free night. book now at choicehotels.com unless you have allergies., then your eyes may see it differently. only flonase is approved to relieve both itchy, watery eyes and congestion. no other nasal allergy spray can say that. when we breathe in allergens our bodies react by over producing six key inflammatory substances that cause our symptoms. most allergy pills only control one substance. flonase controls six

order your kit now at ancestrydna.com ♪ >> time now for the massi memo. o took their time finding the home that was perfect for them. they did their research, worked with a good realtor, and made sure that it was something they could afford. here are some tips to make sure that you do it right. make sure you find the right realtor. this is critical. he or she needs to understand you -- what is important to you and how much you can afford. avoid someone who's trying to sell you on property just to make a sale and get a commission. fully understand your own finances and all of the costs that go into the purchase -- get pre-qualified; get a credit check -- to make sure when you look at the home you want that you actually can afford it. study all lending changes with a qualified broker. understand the laws and regulations that are presently on the books at the time of purchase. now, effective october 3, 2015, there is an entire new regulation before closing with escrow called "know before you owe." you will receive a loan estimate, and three days before closin

the dark i can still see we're having a great month. and celebrate accordingly. i run on quickbooks.that's how i own it. ♪ >> welcome back. i'm bob massi, the property man. time now for the massi memoloan modification, dan and dottie -- well, they moved out of their home, only to be asked by the bank two years later to move back in. three years after that, they finally mediated. so, what happened? they agreed to let the bank have the house back in exchange for the deficiency being waived. whatever they owed on the house, it's now waived. you can find info on our website about short sales and everything else that we've covered, but let's review some of the basics. a short sale means that you sell your home, with the lender's consent, for less than what you owe on it. for many people who find their homes underwater, a short sale does offer a way out. but it's not always so simple. the lender requires a showing of what we call "hardship" -- for example, loss of income, medical emergency, death of an income-producing member of the family, and other things. now, you're gonna be asked to provide tax returns, w-2s, or profit/loss statements if you're in business for yourself. the waiver o

massi, the property man. and now it's time for the massi memo. start of the show, i sat down with florida attorney general pam bondi to talk about scams. scammers are always out there trying to separate you from your money. so what do you do? well, it all boils down to this. the best way to protect yourself is to step back and think before you pay anyone a dime or sign anything. if anything sounds too good, please, run away. most scams sell the sizzle to pull you in and beware of the sizzle, the 4-day, 3-night dream vacation, expensive gifts. those type of things are the sizzles. anyone who asks for an up-front fee or wire transfers of any type in reference to purchasing real property, rental property or stocks, forget it. never buy any real estate by phone. it is important that you hire a competent realtor and check all credentials. and if a company promises to save your home from foreclosure, don't believe a word. many charge high fees for work you can do on your own. and some actually try to trick you into signing over the deed to the house. ne

the natural world? whatever your definition of success is, helping you pursue it, is ours. t-i-a-a. >> welcome back. i'm bob massi, the property man. and now it's time for the massi memo. we met karen and dennis, fighting to save their home of 18 years. now, they have a few options, but the only thing i see really that's gonna work for them is a loan modification. they need to get the bank to understand their situation and that it's in their best interests to keep them in the home and do something with their mortgage so they could afford the payment. so, i'm gonna help them with that, and in a few weeks, we're gonna update you as to how it worked out. we also looked at westgate time-shares and their beautiful, new property in las vegas. you know, there are different types of time-shares, and before you buy one, you have to decide which one's right for you. so, let's look at them. the right to use -- buyers can lease the property for a specific time each year. if you have points, buyers can consider staying at various locations. you redeem your points after they've been accumulated. also, what we call floating -- the buyer reserves their own time during a specific time o

the natural world? whatever your definition of success is, helping you pursue it, is ours. t-i-a-a. ♪ >> welcome back. i'm bob massi, the property man. time now for the massi memonow, we covered a lot of ground today, and we met mark and yessenia, a couple stuck in a zombie foreclosure. but what is a zombie? remember, it's a property vacated by the homeowner, thinking the foreclosure was going to happen, and it never did. so, in effect, it's dead and buried. what could you do once you find out? immediately contact the servicer of your loan about the zombie. many times, these people are so far removed, you got to wake them up from the dead. if you get no response from the servicer, contact the consumer financial protection bureau and file a complaint. and, finally, if there's no action at all, please get a tough, competent real-estate attorney to bring the lender back to life. we also heard about crowdfunding. now, this allows people to be involved in causes and investments they never dreamed of, including the world trade center and real-estate ventures and businesses. let me break down the different types of crowdfunding. donation -- a crowd gives money because

massi, the property man. time now for the massi memo.y, and we met mark and yessenia, a couple stuck in a zombie foreclosure. but what is a zombie? remember, it's a property vacated by the homeowner, thinking the foreclosure was going to happen, and it never did. so, in effect, it's dead and buried. what could you do once you find out? immediately contact the servicer of your loan about the zombie. many times, these people are so far removed, you got to wake them up from the dead. if you get no response from the servicer, contact the consumer financial protection bureau and file a complaint. and, finally, if there's no action at all, please get a tough, competent real-estate attorney to bring the lender back to life. we also heard about crowdfunding. now, this allows people to be involved in causes and investments they never dreamed of, including the world trade center and real-estate ventures and businesses. let me break down the different types of crowdfunding. donation -- a crowd gives money because they want to support a cause. or re