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In a zippy, an unexpected twist, HUD announced today the $8000 tax credit can be used as a bridge loan to help cover closing costs as well as an addition to the 3.5 % required down payment. First time homebuyers must still cover the 3.5 % down payment and use of the credit can not […]
HVCC , the Home Valuation Code of Conduct, has recently gone in to effect. The thought behind this, as far as I can tell, is to protect the consumer from lenders, Realtors and appraisers working together to set a price on a property or home. While at first blush this may sound like a good […]
For background see Clues to the $8,000 Homebuyers Credit
I was chatting with some friends this morning and the subject of the new $8,000 homebuyers tax credit came up. I was asked to give a real life example of my statement “you could own a home for free” so here it is.
Example
A family is renting a […]
This morning the federal government released a new plan aimed at lowering mortgage rates as well as monthly payments in a effort to stem the bleeding in the housing market.
The new plan is aptly named the “Making Home Affordable” initiative. To be considered for the program borrowers will have to show last years tax returns […]
A couple of weeks ago I wrote a post about the proposed $15,000 home buyer credit. The credit was scaled back and by the time the stimulus package passed Congress it was the $8,000 home buyer credit. Last year, in the Bush plan, we had a $7,500 home buyer credit. Confused yet? Me too!
What it […]
Making heads or tails of the economic recovery wrangling going on in Congress is difficult. There seems to be an abundance of nebulous terms and descriptions floating around that really don’t state specifics. I’ve read some of it but news today for the housing industry and potential home buyers looks to be promising
Yesterday the Senate […]
The benchmark 30-year mortgage rate fell below 5 percent to reach an all-time low of 4.96. This is fantastic news if you want to to buy a home. There are currently some wonderful homes on the Lake Powell real estate market. Contact me for more details.
