For Buyers
Home Warranty give Peace of Mind to Homebuyer
Buying a new home is one of the biggest financial decisions a person makes in their life time. A home warranty can help give the new homeowner a level of comfort regarding failures of appliances and/or systems in the home. There are a couple of options available to the new homebuyer that you can [...]
Read More...Home Buyer’s Tax Credit Ending Soon
The First Time Home Buyer’s Tax Credit of up to $8,000 and the expanded credit of up to $6,500 for existing homeowners who qualify is approaching an important deadline. A buyer wanting to qualify for the credit, must have the home they are purchasing under contract by April 30th. That means you need to find [...]
Read More...Federal Reserve Chair, Bernanke Says Interests Rate to Remain Low
Many are lenders have been predicting that interest rates will be going up soon. A buyer was even told that they should lock their rate soon before the rates go up the first of April. Because of that this report of Bernanke’s opinion that interest rates will remain low is a relief. Even so, those [...]
Read More...Idaho Banks Strength Helps Support the State’s Economy
Robb Hicken wrote in an article in the Idaho Business Review that :Banks in Idaho look bright: Despite challenges, banks move forward”. He discusses the benefits of having sound Idaho banks to Idaho’s economy and some of the challenges the state faces as the economy recovers.
Read More...Guidance on New $6,500 Tax Credit for Repeat Home Buyers
If you have questions about the the $6,500 tax credit for repeat home buyers, the IRS has published guidance to help consumers better understand the requirements. This Washington Post article gives an explanation of the credit and provides a link to the IRS for more information. A little research led me to this IRS link [...]
Read More...January 1, 2010 HUD-1 and GFE Changes
Effective January 1, 2010 a new Good Faith Estimate (GFE) and HUD-1 (closing statement) are required. These updated forms are designed to better inform borrowers and to restrict fee increases that borrowers have experienced in the past. It should help to eliminate surprises at the closing table in relation to fees the borrower pays or [...]
Read More...Mortgage Forgiveness Tax Relief Still in Effect
A law enacted in 2008 relieves homeowners from paying taxes on mortgage debt that as been relieved through mortgage workouts, short sales, etc. This is in effect through 2012 and there is a specific for used to report this to the IRS. Read the IRS bulletin regarding tax relief.
Read More...Taxes in Idaho
Just read an article in the Idaho Business Review about a study that says Idaho’s tax burden is the sixth lowest per capita. It is great to be able to live in Idaho where the quality of life is so positive and our tax burden is lower than so many other states. To read more [...]
Read More...Fed Interest Rates to remain at Historic Low
I just read about the Federal Reserve’s announcement that they will leave key interest rates unchanged for an extended period. With low mortgage rates to continue, and the homebuyer’s tax credit for those who qualify, purchasing a home is still a viable option.
MSNBC wrote, “just in time for the holidays, a gift from the Federal [...]
Homebuyer Tax Credit Update
NAR Issue Brief
Homebuyer Tax Credit Changes
National Association of REALTORS® Government Affairs Division
500 New Jersey Avenue, NW, Washington DC, 20001
Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled “December 1 – April 30, 2010” become effective when President Obama signs the bill. All changes made to the current credit become [...]
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