FHA, which insures close to 6 million loans in our country, is tightening some standards, while leaving others alone. Several months ago the FHA reserves, which congress has mandated to be 2%, fell lower than .5% due largely to delinquent and defaulted mortgages.
One of the items not being affected is how much down payment a […]
The First Time Homebuyers Tax Credit was extended and expanded on November 6, 2009 as it was set to expire on November 30, 2009. On November 24th I wrote a post about how to claim the credit stating when the IRS released the new form to file for homes purchased after November 6th, when the […]
A survey by Public Interest Research Group found that 79 percent of credit reports contained an error, with 25 percent having a serious error that would disqualify the consumer from buying a house, opening an account, or getting a job (Source: Associated Press)
Most people are surprised the first time they see their credit report with the sheer amount […]
Update Jane 15, 2010: IRS Release From to Claim Credit for 2010.
It is almost tax time and with the extension of the first time homebuyers tax credit, along with the addition on the move up credit, the questions are flying.
Realtor.org has an entire section devoted to these two credits and anyone with serious questions […]
UPDATE: President Obama signed the extension on the 9th of November
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Look for President Obama to sign the First Time Homebuyers Tax Credit Extension with an added Repeat Buyer Tax Credit provision on December 1, 2009.
There are several changes in the new tax credit law but the highlights are:
Repeat buyers can qualify for a $6,500 credit […]
If you have a current FHA loan and have been thinking of looking at a re-fi, now would be the time.
On November 17, 2009, new, much stricter guidelines go in to effect for those wanting to take advange of the FHA Streamline re-financing program. Meant to help lower monthly housing costs for folks in good […]
The process of purchasing a home can be long and full of twists and turns. Of course, having a Realtor help you through the process can help you avoid some of the pitfalls and potholes. That said……..
One of the first things that needs to be accomplished is finding out how much of a home you […]
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