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income tax credits: 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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income tax credits: 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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income tax credits: Take Advantage of the $8,000 U.S. Income Tax Credit ~ Buying Your First Home - 07/14/09 05:56 PM
Buying your first home? Take Advantage of the $8,000 U.S. Income Tax Credit that's offered. Speak with your REALTOR® about opportunities presented by this law allowing for U.S. income tax credit now available to first-time homebuyers.
The amount of tax credit will be the lesser of either 10% of the home's cost or $8,000.
This tax credit will sunset on November 30, 2009. So you must get your home purchase started and concluded with escrow & closing by that date.
This tax credit is available to qualified first-time homebuyers for the purchase of a principal residence between January 1, 2009 and no later than November 30, 2009.
Qualified first-time … (0 comments)
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income tax credits: More US Tax Incentives Are Needed For Home & Property Buyers ~ Less Focus on Spending Taxpayer Money on Loan Mods - 07/02/09 06:12 PM
We need more US government tax incentives for home and property buyers in the United States, and less focus of time and money on loan modifications.
BloombergNews.com reported that "U.S. mortgage applications fell last week by the most since February, defying efforts by President Obama's administration to revive the housing market." See article ~ Mortgage Applications Are Down ~ Bloomberg News, July 1, 2009. The government's focus on loan mods is not working to stimulate the economy, and it's not tax encouragement for home and property buyers.
Obama's new Home Affordability Refinance Program (HARP) raises its maximum Loan-To-Value (LTV) limit from 105% to … (4 comments)
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income tax credits: 7 Questions About the First Time Homeowner Income Tax Credit ~ Why It's So Important Now - 06/11/09 04:01 PM
Questions about the US Homeowner Income Tax Credit and importance now are answered at the National Association of Realtors featured article ~ The Basics: 2009 First-Time Home Buyer Tax Credit.
Who Qualifies For This Tax Credit?
Which Properties are Eligible?
How Much Money Will The Tax Credit Be?
If the Buyer(s)' Income Exceeds These Limits, Can He/She Still Get a Credit?
Will the Income Tax Credit Need to Be Repaid?
Can This Income Tax Credit Be Used As Closing Costs?
~ see article HUD Will Now Allow First Time Homebuyers to Apply $8K Income Tax Credit Toward Purchase … (0 comments)
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income tax credits: First Time Homebuyers Should Get Going Now ~ Take Advantage of the $8,000 U.S. Income Tax Credit - 06/01/09 04:58 PM
FOR YOU FIRST TIME HOMEBUYERS ~ NOW IS THE TIME TO GET MOVING WITH YOUR HOME PURCHASE.
Rules and guidelines ~ American Recovery and Reinvestment Act of 2009 ~ for the US First Time Homebuyer Income Tax Credit.
This credit is available to a first time homebuyer, an individual who has not owned a home in the three year period prior to the purchase. Eligible buyers must buy a principal residence - new or resale, on or after January 1, 2009 and before December 1, 2009. The purchase date is defined as the date of closing and property title transfer. The tax credit is equal to 10 … (2 comments)
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income tax credits: First Time Homebuyers Should Get Moving Now ~ U.S. Income Tax Credit Benefit to Sunset on November 30, 2009 - 05/12/09 11:12 AM
The time to act is now ~ First Time Homebuyers who want to take advantage of the law for Income Tax Credit of up to $8,000 must get going.
Unless this law is amended or changed, this benefit will sunset on November 30, 2009.
Buyers must consider the essential qualifications for this tax credit.
Homebuyer must never have owned a home ~ or have not owned a home within the last 3 years (determined by HUD 1 date when previous home was sold)
Homebuyer purchased a home to be a primary residence between January 1 and November 30, 2009.
Homebuyer owned a rental property … (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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