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home buyers tax credit: Tips For Finding The Perfect Neighborhood! - 02/17/10 09:34 AM
Greg Olson/REMAX Suburban/Cell (847) 977-7024
Tips for Finding the Perfect Neighborhood Your neighborhood has a big impact on your lifestyle. Follow these steps to find the perfect community to call home.
•· Is it close to your favorite spots? Make a list of the activities - movies, health club, church, etc. - you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you're considering to engage in your most common activities.
•· Check out the school district. This is especially important if you have children, but it also … (0 comments)
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home buyers tax credit: Tax Credit News for your Buyers! - 01/27/10 05:09 PM
Good news homebuyers: You can file for your $8,000 first-time buyer tax credit again.
Bad news: You can't e-file your taxes if you want the cash. And there are long delays.
Last Thursday, CNN revealed that buyers who purchased their properties after Nov. 6 were unable to claim the refund because the Internal Revenue Service had yet to release a new form and instructions. But on Friday, the IRS finally posted the new form 5405.
First-time buyers used to able to immediately file for the tax credit after Congress approved it last February as part of the stimulus program. … (0 comments)
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home buyers tax credit: Home Buyers Tax Credit Update - 11/5/2009 - 11/05/09 01:54 PM
$8K tax credit - amount remains the same for first time home buyers Extension - will be for sales contracts entered into by April 30, 2010, and escrow closed in 60 days Homeowners included - $6.5K tax credit for existing home owners as long as they've been in their homes for 5 consecutive years in the past 8 and meet the income limits Income limits increased - Single $75K-> $125K and Married $150K->$250K$225K (updated by CQ, 10:41 am PT) AND - the White House endorsed the plan a few hours ago this morning. And that is the latest!! … (0 comments)
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home buyers tax credit: Basic Definition of a Short Sale! - 10/20/09 09:15 AM
Here is your basic definition of a short sale. I have realized in recent months that most of my clients have no idea what a short sale is! I have a great (but rather extensive document) that explains in detail exactly what a short sale is. Knowledge is the king and I am finding that in my businees most of my buyers once informed are staying away from these...the timing (or complete lack of any timeframe) just doesn't seem to work for my buyers!!
"A short sale is a situation in which the real estate seller owes more money on the … (0 comments)
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home buyers tax credit: Overlooked FHA Loan Ideal for Foreclosure Buyers - 203K Loans - 10/06/09 05:56 PM
Hidden away in the deep recesses of the federal government is a one-shot financing plan which will allow you to not only buy foreclosures but also to pay for repairs and upgrades.
The FHA's 203(k) program has been on the books for decades but over time it's been rarely used. That's changed recently, in part because the program is ideal for many foreclosure buyers.
How It Works With the 203(k) program you get financing to purchase or refinance an existing home (it has to be at least a year old) plus additional dollars to fix it. Since the government … (0 comments)
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home buyers tax credit: Home Buyer's Tax Credit Changes Possible - 10/02/09 09:03 AM
Home Buyer's Tax Credit Changes Possible
The first major change to the $8,000 home buyer's tax credit began moving through Congress the last week of September, giving hope to real estate and building groups pushing for extension of the entire program before it expires November 30, 2009.
House Ways and Means Committee chairman, Congressman Charles Rangel, a New York Democrat, combined several smaller bills into the "Service Members Home Ownership Act of 2009", with a floor vote expected soon.
The bill is intended to correct a flaw in the original tax credit legislation: By requiring buyers to occupy and own their … (1 comments)
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home buyers tax credit: $8,000 Tax Credit Still Available!! - 09/07/09 12:04 PM
Less than 90 days left to get your first time buyers tax credit. Must close by November 30th! Visit my website or give me a call on my cell at 847-977-7024 for details!!!
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home buyers tax credit: Short Sale Q & A - 06/17/09 09:03 AM
What Happens in a Short Sale
A 뱒hort sale?refers to a situation where the owner of the home does not have enough equity in the property and not enough cash or liquid assets to be able to sell the property, pay off liens and selling expenses (e.g., closing costs, property taxes, transfer taxes, real estate commissions) and provide a clear title to the purchaser. In short, there is more owed on the home than what it will likely sell for on the market. Lenders use the term to describe this as a loan that is 뱔pside down.?While many short sellers … (0 comments)
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home buyers tax credit: Updated Home Buyer Tax Credit Information (6/3/09) - 06/03/09 10:00 AM
FHA's rules allow state housing finance agencies and certain nonprofits to ‘monetize' the tax credit (depending on the amount of the mortgage). While a short-term bridge loan to monetize the tax credit is not a product immediately available from FHA lenders in Illinois, the IAR is currently working with the Illinois Housing Development Authority to determine the feasibility of developing such a program that can be used in conjunction with an FHA mortgage loan. The tax credit applies to qualifying home purchases made by first-time homebuyers on or after Jan. 1, 2009 and before Dec. 1, 2009.
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home buyers tax credit: Simple Explanation of the New $8,000 Home Buyers Tax Credit! - 02/24/09 09:43 AM
$8,000 For Homebuyers
First-time buyers (someone who has not owned a home in the past 3 years) can claim a credit worth $8,000 - or 10% of the home's value, whichever is less.
They can claim this credit on their 2008 or 2009 taxes.
The purchase must be completed between Jan. 1 and Dec. 1, 2009.
Buyer must live in the home for at least 3 years or they will be obligated to pay back the credit.
Buyers must meet the income restriction of $75,000 for singles or $150,000 for couples.
Applying for the credit is easy. Just claim it … (0 comments)
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Gregory Olson
Streamwood,
IL
More about me…
REMAX Suburban
Office Phone: (847) 577-9797
Cell Phone: (847) 977-7024
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