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nar: Homebuyer Tax Credit Loans on Track. .. - 06/01/09 07:51 PM
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. … (2 comments)

nar: Homebuyer Tax Credit Overview.. . - 03/29/09 09:35 PM
The Homebuyer Tax Credit portion of the American Recovery and Reinvestment Act of 2009 provides an $8,000 tax credit to first-time home buyers (or buyers who have not owned a private residence in the past three years) who purchase a principal residence on or after January 1st, 2009 and on or before November 30th, 2009. The credit does not require repayment and will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
What are the important points to … (3 comments)

nar: House Passes Stimulus Bill 01/28/2009 - 01/29/09 08:58 AM
Last night, the U.S. House of Representative passed H.R. 1, the Economic Recovery Package, by a 244 to 188 vote.The bill contains a number of issues critical to REALTORS® and the industry, including the extension, until the end of 2009, of all Metropolitan Statistical Area's (MSA's) 2008 Fannie Mae, Freddie Mac and FHA loan limits. The proposed legislation also will eliminate an existing payback requirement on the first-time homebuyer tax credit for qualified buyers who purchase a home between Dec. 31, 2008 and July 1 this year.Congress included these provisions as a direct result of the grassroots efforts put forward by … (10 comments)

nar: Possible Treasury Action - 12/08/08 06:29 PM
A note from our National Association of Realtors® President; Charles McMillan:
December 4th, 2008
“The National Association of Realtors® has been advocating a four-point plan to help stimulate and stabilize the housing market and the overall economy. Part of the plan calls for changes in how the Treasury uses TARP funds and other monies to lower mortgage interest rates.
“We are pleased to see that the leadership of the Treasury Department is seriously considering the actions we discussed to lower interest rates. The result of such action will help the nation’s economic recovery and bring stability to the housing market.
“NAR … (0 comments)

 
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Pederson Properties, Inc.

La Quinta, CA

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HK Lane La Quinta & Prudential Maui Realtors

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