February 2009 
There are 300 blog entries for February 2009.
First Time Homebuyers get $8,000 incentive from Obama’s Housing Relief Bill!
Thursday, February 26th, 2009 at 11:27am. 1159 Views, 3 Comments.
Many buyers don’t know that if they purchase a home on or before June 1, 2009 they can claim this credit on their 2008 taxes.
Some of you are saying to yourself “What if they’ve already filed 2008?”…no worries they can re-file or amend the return and get the $8,000 incentive right now!
I’ve been in some pretty deep discussion with a couple of CPA’s and the most aggressive of CPA’s will tell me that a buyer planning to purchase a home on or before June 1, 2009 could go ahead and file for the $8000 incentive when they go into contract to purchase the home. And then quickly amend or re-file their 2008 returns in time to receive the stimulus money and use it for down-payment and closing costs….
First time home buyers, now it the time to make a move!
O’ by…
FHA Guideline Panic!
Wednesday, February 18th, 2009 at 3:04pm. 420 Views, 0 Comments.
In response to the Obama Housing Relief Plan - Virtually every major FHA investor has increased minimum credit score requirements for FHA loans to 620 middle score.
I'm sure most of you are asking yourself why...well it will depend on who you ask as to how that's answered.I'll give you my 2 cents and you can take if for what it's worth. As more information comes available I'll do my best to post. I believe it's investors lashing back at the terms of the housing plan announced today earlier today. First: it will allow for loan modifications via a Federal Judge - which indirectly forces loan servicers and mortgage holders to accept loan modification agreements. Modifying terms of an original agreement causes that loan to loose value in it's portfolio. …The details are out on the Stimulus Package the tax credit is awesome!
Tuesday, February 17th, 2009 at 9:33pm. 310 Views, 0 Comments.
Have you seen the provision in the Stimulus Package that was signed into law today? In the bill is an $8,000 tax credit for home buyers. This is an awesome time to buy a home with low mortgage rates a fairly soft market for home prices this is an unprecedented opportunity. Like all other opportunites there are time limits. The purchase could be made retroactive to Jan 1,2009 through Dec 1,2009. The new bill makes this a credit which is in essence the same as paying $8,000 in taxes( not a deduction) this is something you want to review with your CPA as there are income limits to quailfy for the full deduction.
The new bill allows you to use the credit and not have to repay the money as was the case prior to this new package as long as you do not sell for 3…
Stimulus Update!
Saturday, February 14th, 2009 at 1:29pm. 335 Views, 0 Comments.
Sorry I’m sad to say the $15,000 tax credit didn’t make it on the final bill.
However there is still good news! Congress modified the current homebuyer tax credit by increasing it a little and ELIMINATING the repayment requirement.
The new credit is $8,000 and is avaliable to buyers that have not owned a home in the last three years who purchase between Dec. 31, 2008 and November 30, 2009.
It is also retroactive to Dec. 31, 2008. So those lucky new home owners that have closed in the last month or so can take advantage of this higher credit.
Home Buyer Tax Credit Q & A
Saturday, February 7th, 2009 at 12:49pm. 403 Views, 1 Comments.
The $15,000 Home Buying Tax Credit: 6 Things to Know
A number of readers have written in asking for details about the home buyer tax credit amendment that was recently added to the Senate version of the economic stimulus package. The provision, introduced by Sen. Johnny Isakson, a Republican from Georgia, would provide a tax credit of as much as $15,000--or 10 percent of the home's price tag, whichever is less--to anyone buying a primary residence during a one-year period beginning on the date of enactment. After reading through your questions, here's a list of six things to know about the amendment.
1. I recently bought a home and qualified for the $7,500 new home buyer tax credit. Should this…
