First Time Home Buyers Tax Credit

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Treasury hopes new rules send short sales to the rescue of underwater mortgages

In a short sale, a homeowner sells the property for its current market value, which is less than what’s owed on the mortgage, and the lender agrees to accept the lower amount. The new rules that offer participating lenders cash incentives to get them to approve more short-sale deals also allow them only 10 days to approve or reject short-sale purchase offers, said Treasury spokeswoman Meg Reilly.

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Counties pushed for revenue, get creative and Short sales could come to screeching halt!

The position the County has taken has caused some grave confusion and concerns for many in the real estate industry because it is contrary to how short sale transactions have been charged recordation and transfer taxes to date.

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If You Don’t Buy a House Now, You’re Stupid or Broke. Business Week by Mark Roth.

This article was featured in Business Week. At first the headline seems very to be a very insulting statement! But the writer, Mark Roth, uses this dramatic title to get your attention to make excellent points for those who are on the fence. Namely those interest rates are at an all time low, in fact, … Continue reading If You Don’t Buy a House Now, You’re Stupid or Broke. Business Week by Mark Roth.

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New Home Buyer’s Tax Credit is now in effect!!

Tax Credit for Homebuyers (First Time and Previous Home Owners) First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of … Continue reading New Home Buyer’s Tax Credit is now in effect!!

Also posted in "Green" Living, buyers, Certified Distressed Property Expert, Economic Stimulus, Energy Savings, First Time Home Buyer Tax Credit, first time home buyers, First-time Homebuyer, First-time homebuyers, Foreclosure, real estate news, Uncategorized | Tagged | Comments closed

President signs Expanded Tax Credit For Home Buyers

On Friday, President Obama signed the Expanded Tax Credit Bill, it’s offical!! On Wednesday the senate passed an expanded tax credit.  The First Time Home Buyer Tax credit has been seen as a huge What is new and improved with the extended and expanded tax credit?  The new and improved tax credit is still for … Continue reading President signs Expanded Tax Credit For Home Buyers

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