Personal Finance Daily: Give the gift of a house down payment

Personal Finance Daily DECEMBER 19, 2011 Give the gift of a house down payment By MarketWatch Don't miss these top stories: Don't let down-payment gifts delay mortgage loan Audi tops the luxury rides for 2011 How to make your nest egg last longer These fund managers get a Lump of Coal Award Should you give your children money to help them make a down payment on a house? Should you ask your parents for help when buying? Amy Hoak writes today in her Home Economics column that because coming up with the down payment is often a first-time home buyer's biggest challenge, getting financial help from friends and relatives is becoming more common. In 2010, 27% of first-time buyers received a gift from a friend or relative to use toward their down payment. But the process can be complex, because large gifts can have tax implications for the giver, and the recipient needs to know certain factors that could delay getting that mortgage. — Anne Stanley , Managing Editor, Personal Finance Don't let down-payment gifts delay mortgage loan Coming up with a down payment is often a first-time home buyer's biggest challenge — that's why many of them get help from relatives or friends. Here's what home buyers should know about down-payment gifts to make sure the closing process is as smooth as possible. Read more: Don't let down-payment gifts delay mortgage loan. Audi tops the luxury rides for 2011 It's time to turn on the seat heaters, look back at 2011 through smoked rear windows and pick the luxury car of the year. Read more: Audi tops the luxury rides for 2011. The truth about wealth Despite heated rhetoric emanating from politicians and pundits, the top 1% is hardly a fixed group that enjoys consistent income gains. To the contrary, the wealthiest have become the most crash-prone group in our economy. Read more: The truth about wealth. Use the holidays to get a jump on getting that job The holidays aren't a great time to land a job, but here are six tips for productive things you can do to help your job search. Read more: Use the holidays to get a jump on getting that job. INVESTING These fund managers get a Lump of Coal Award Here's the second helping of Chuck Jaffe's annual Lump of Coal Awards, given each year to the bad boys and girls of the fund industry who deserve nothing more than an inky chunk of carbon in their holiday stockings. Read more: These fund managers get a Lump of Coal Award. These life-cycle funds are off-target Investors can get into trouble when they judge long-term investments on short-run results. But they also get into trouble if they ignore the short-term and it leads to problems down the road. Read more: These life-cycle funds are off-target. ECONOMY & POLITICS Home-builder confidence hits 19-mo. high Home-builder confidence hit a 19-month high in December, though it still remains mired in weak territory, according to a key index released Monday. Read more: Home-builder confidence hits 19-mo. high. Boehner seeks House-Senate payroll tax talks House and Senate leaders should negotiate a compromise bill on extending a payroll-tax cut for one year, House Speaker John Boehner says Monday, insisting that a Senate version approved over the weekend creates too much uncertainty. Read more: Boehner seeks House-Senate payroll tax talks. Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2011 MarketWatch, Inc. All rights reserved. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. By using this site, you agree to the Terms of Service and Privacy Policy (updated 6/26/07). MarketWatch - Attn: Customer Service, 201 California St., San Francisco, CA 94111