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tax credit: House Extends Tax Credit to Active Military for One More Year - 10/13/09 03:52 PM
Yesterday the House of Representatives unanimously voted to extend the $8,000 first-time home buyer tax credit to active military personnel, foreign service and intelligence officers.  HR 3590 extends the existing tax credit to this group until November 30th, 2010.  The bill now goes to the Senate, and is expected to pass with the same ease.
The bill was introduced by Rep. Charles Rangel (D-NY) because it was thought that military personel serving oversees this year did not have the same opportunity to take advantage of the tax credit.  If the original qualifications are met, the extension applies to military personnel who … (63 comments)

tax credit: Nicole's Week in Review - 02/23/09 09:55 PM

The $787 Billion stimulus plan called the American Recovery and Reinvestment Act (HR 1) conquered headlines last week when it was signed into law on Tuesday, February 17th. Portions of the bill of particular interest to the real estate community are: The $8,000 First-time Homebuyer Tax Credit and $11 Billion Appropriated to USDA Rural Development Loans (click the links for details on those portions of the bill).
A day before our gargantuan stimulus passed, President Obama also announced details of his Homeowner Affordability and Stability Plan which he hopes will stabilize housing by reducing foreclosures and keeping mortgage rates low. … (0 comments)

tax credit: The $8,000 Tax Credit -- Let's Break it Down - 02/21/09 06:12 PM

Update: Please see highlighted sections for further clarifcation regarding the $8,000 tax credit. I'll be making updates as more interpretation of the bill emerges.
Signed, Sealed, Delivered I'm Yours....is not just Stevie Wonder's 1970 Motown classic, but our $787 Billion (yes, with a B) stimulus plan with various tax cuts and spending programs aimed at reviving our economy. This is our country's largest anti-recession effort since WW2.
Part of the stimulus included a revision to last year's repayable tax credit to an $8,000 tax credit that does NOT need to be repaid.
Be advised, not all tax preparers are aware … (57 comments)

tax credit: Nicole's Weekly Wrap-Up! - 02/16/09 10:49 AM

The stimulus bill took over headlines last week as the Senate and Housed fleshed out their versions into one cohesive bill. Here's a wrap-up of news that affected the housing market, and what to expect this week.
Mortgage Rates
Last week was another volatile week for mortgage rates. They improved earlier in the week, but lost their ground later in the week and ended slightly worse than where they began. Last week's Bankrate.com 30 yr fixed rate average ended at 5.44% (last week's was 5.34%). Usually, bad news for stocks equals good news for mortgage bonds (i.e., interest rates) as … (0 comments)

tax credit: Nicole's Weekly Wrap-Up! - 02/09/09 09:56 PM

Employment
The labor department reported 598,000 jobs were lost in January. This is worse than the expected 540,000 job loss projection and puts current unemployment at 7.6%. Overall, 3.6 million jobs have been lost since December 2007, with half of them lost in the last 3 months. Ouch.
Personal Consumption
The PCE (Personal Consumption Index) reported its smallest gain in 5 years. This puts inflationary concerns in the backseat (for now) as the concern of deflation continues to loom. Dropping prices sounds pretty great, except they exasperate our slower economy as people delay spending in hopes of buying when prices … (0 comments)

 
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Nicole Lahti, Austin Texas Mortgage

Austin, TX

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