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first time homebuyer tax credit: California Homebuyer Income Tax Credit Program Funds Almost All Used Up - 08/17/10 07:16 PM
The CALIFORNIA state HOMEBUYER INCOME TAX CREDIT PROGRAM program is almost ending with the $100 million expected to be used up.
This follows the ending of the US First Time Homebuyer Tax Credit program, which ended April 30, 2010.
The CA Franchise Tax Board will continue to accept applications for state's New Homebuyer Tax Credit. However, the state has already received 12,090 reservation requests and applications, which is expected to use 80 percent of the $100 million funds allocated to this program. The Franchise Tax Board will stop accepting applications when the money is used according to pending applications.
See information and updates about this CA state first time homebuyer income tax credit program - … (0 comments)
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first time homebuyer tax credit: Will Expected Extension of Homebuyer Tax Credit Help Our Real Estate Clients? - 11/01/09 01:03 AM
Will the Expected Extension of the US Homebuyer Tax Credit help business in our state, be a boost for our clients, the housing market and be good for our US and local economies?
Good question, and we will all see what develops, whether the measure can be worked out between Senate and Congress, and if it passes whether Obama will sign it into law. Then we'll see how buyers and consumers react between December 1 and April 30 of next year.
WE NEED ENCOURAGEMENT FOR HOME SELLERS HERE AT ORANGE COUNTY. Too many are nervous and waiting to sell their homes. Our local markets … (85 comments)
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first time homebuyer tax credit: Expect Monday After Thanksgiving Weekend To Be a Busy Real Estate Day ~ November 30, 2009 - 10/10/09 11:39 AM
Monday after this year's Thanksgiving Weekend, November 30, 2009, will be a very busy day in real estate, with home purchases to satisfy First Time Homebuyer Tax Credit - Act Now Before It's Too Late ~ Take Advantage of Your First Time Homebuyer Tax Credit.
New FED "TRUTH IN LENDING" requirements for lenders went into effect on October 1. FED Adopted New Rules for Lenders and Home Mortgage Loan Brokers ~ Effective on October 1, 2009.
Will lenders be able to close transactions on a timely basis, or could this TRUTH IN LENDING regulations gum up the works with anticipated and planned closings for November 30, 2009, … (2 comments)
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first time homebuyer tax credit: Congress Support Getting Active and Behind Proposed Extension of US Homebuyer Income Tax Credit - 10/03/09 11:08 AM
Congress getting active with support of Proposed Extension on First Time Homebuyer US Income Tax Credit.
Press Release September 29, 2009 on a Number of News Sites
Legislation will promote growth, stability in housing market
September 29, 2009 - (RealEstateRama) - Reps. Frank Kratovil (D-MD) and Travis Childers (D-MS) have introduced important legislation to help families buy and sell homes and spur growth and stability in the American housing market. The Tax Credit Extension for Homebuyers with a Loss Deduction Incentive Act (H.R. 3640) will extend for one year the $8,000 home-buyer tax credit, expand the credit to all homebuyers … (2 comments)
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first time homebuyer tax credit: Short Listings (Short Sales) Are Messy and Very Challenging for Buyers - 08/25/09 03:10 PM
These should be called "SHORT LISTINGS" ... not "Short Sales" ... and won't actually be homes for sale or "short sales" until after all lenders notify in writing for approval of seller side debt forgiveness and deal.
A SHORT LISTING is where a property seller needs to sell and sale proceeds are not sufficient to pay off the existing mortgage or lienholders. This is an alternative to foreclosure.
SHORT LISTING and SALE requires the mortgage company and lienholders to agree for a reduced payoff. If not, the sale won't take place.
All sale costs must be included in SHORT SALE price. The Seller receives nothing, except debt relief and not having a foreclosure on his … (5 comments)
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first time homebuyer tax credit: How to Get and Use the First Time Homebuyer Income Tax Credit Money - 07/28/09 12:03 PM
How Does the Buyer Use and Take Advantage of the First Time Homebuyer U.S. Income Tax Credit? See and download form 5405 from IRS website ~ Form 5405 "First Time Homebuyer Credit" (click here). The credit is for up to $8,000 or 10% of the purchase price of the new home with an $8,000 maximum. For a 2009 purchase the buyer has the option of claiming the credit on their 2008 return or their 2009 return. This is a fully refundable credit, so there isn't a reason to wait. This IRS form 5405 (click here) is to be filed with form 1040X Amended 2008 US Individual Tax … (3 comments)
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Harrison K. Long, business, REALTOR®, GRI, Broker
Irvine,
CA
More about me…
Explore Group, Coldwell Banker Previews, Irvine, South OC
Address: 6833 Quail Hill Parkway, Irvine, CA, 92603
Office Phone: (949) 854-7747
Cell Phone: (949) 701-2515
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