News reports that the federal government is backing away from its plan to permit eligible borrowers to monetize the first-time homebuyer tax credit are off the mark, a spokesperson for the U.S. Department of Housing and Urban Development says.  "The technical details are still being finalized and will soon be published in a mortgagee letter and posted on our Web site," Lemar Wooley, a HUD spokesperson, told REALTOR® magazine on May 20, 2009.
 
Under the guidance that's under development, state agencies and other HUD-approved entities would be able to provide short-term bridge loans that households could use to help with their downpayment. The loans would be repaid with the proceeds from the households' federal tax credit. 
 
The loans were announced on the opening day of NAR's 2009 Midyear Legislative Meetings in Washington, D.C., last week. In his announcement, HUD Secretary Shaun Donovan said guidance would be issued shortly.  When the guidance is released, it is expected to cover eligible lenders and set parameters for loan terms and repayment.
 
Source: REALTOR® Magazine Online

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Title Insurance - Where Does Your Money Go?
04/28/2009
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Where Does Your Dollar Go??!! Ti tle Insurance: As a homebuyer, the term is probably familiar - but is it understood? What is your dollar actually paying for when you purchase a title policy?? Title insurers, unlike property or casualty… more
Lasting Letters..
04/23/2009
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Sunrise, Sunset. Time has wings. Have you ever lost a loved one, whether a family member or friend? Do you have any regrets? Did you have any unfinished business with them? Is there anything you would have shared with them, but time was cut short?… more
The Choice Is Yours..
04/07/2009
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It can be difficult to ponder our own mortality. That is just our human nature. Nevertheless, the clock is ticking for each of us. This blog post highlights some critical issues we all need to address while there is still time to make proper… more
Maui News - Lahaina Bypass
04/06/2009
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State officials broke ground today on the first phase of the Lahaina Bypass project. State Transportation Director Brennon Morioka explains key projects planned for the 1st phase that extends from Lahainaluna Road to the future Keawe Street… more
Asset Protection Strategies
04/03/2009
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.. Statistically and anecdotally, we all know that the number of divorces, lawsuits and bankruptcies is staggering. While no one believes lightning will strike them, wealth created through a lifetime of work, saving and investing can be lost… more
FLP Primer; The Family Limited Partnership..
04/02/2009
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Family Limited Partnerships offer many benefits, both tax and non-tax. This write up is a primer that explores why they are both a taxpayer favorite and a favorite target of the IRS (and some courts). In the Blog following this one we examine… more
Is This Real Life?!
03/30/2009
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. This is HILARIOUS!! I absolutely HAD to share this with you all) ENJOY! more
God's Beauty..
03/30/2009
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Kids Say The Darndest Things..
03/29/2009
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This is a GREAT Tribute - had to share:) more
 
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Pederson Properties, Inc.

La Quinta, CA

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HK Lane La Quinta & Prudential Maui Realtors

Address: 78-100 Main Street Suite 108, La Quinta, CA, 92253

Office Phone: (760) 834-7500 x 4900

Cell Phone: (760) 575-4847

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