Homeowner Affordability and Stability Plan - 02/21/09 03:32 PM
Homeowner Affordability and Stability PlanRevised February 20, 2009President Obama‘s plan to help stabilize the housing market and keep millions of borrowers in their homes...The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is a refinancing program for homeowners with less than 20% equity in their homes, or who owe more than their home is worth. The second program attempts to lower monthly payments for homeownersat risk of losing their home. In addition, the plan includes a third initiative to support low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac.Many of the plan's details … (3 comments)

$8,000 Home Buyer Tax Credit at a Glance - 02/21/09 12:57 AM
FIRST TIME HOME BUYER'S TAX CREDIT
$8,000 Home Buyer Tax Credit at a Glance
-The tax credit is for first-time home buyers only.  A "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house.
-Unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.
-The tax credit is equal to 10% of the home's purchase price up to a maximum of $8,000.-The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.  Anyone who bought a home last year won't … (0 comments)