Julie's Blog of Southern New Jersey Shore areas of Atlantic & Cape May County's

First Time Home Owner Tax Credit Extended Till June 30, 2010

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Thu, 05 Nov 2009 17:55:05 -0600

In this July 24, 2009, photo, a pending home sale in Palo Alto, Calif., is shown. (AP Photo/Paul Sakuma)

(AP) Buying a home is about to get cheaper for a whole new crop of homebuyers - $6,500 cheaper.

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the House voted 403-12 Thursday to extend and expand the tax credit to include many buyers who already own homes. The Senate approved the measure Wednesday, and President Barack Obama is expected to sign it.

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers - or anyone who hasn't owned a home in the last three years - would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

"This is probably the last extension," said Sen. Johnny Isakson, R-Ga., a former real estate executive who championed the credits.

The homebuyers tax credit is one of two tax breaks totaling more than $21 billion that was included in a bill extending unemployment benefits for those without a job for more than a year. The other would let companies now losing money recoup taxes they paid on profits earned in the previous five years.

"We are still in a world of economic hurt, and Congress must continue to act boldly and creatively," said Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee. "With the right mix of tax breaks and investments we will get through this recession and get folks working again."

The real estate industry has been pushing to extend and expand the housing tax credit. About 1.4 million first-time homebuyers have qualified for the credit through August. The National Association of Realtors estimates that 350,000 of them would not have purchased their homes without the credit.

Extending and expanding the tax credit for homebuyers is projected to cost the government about $10.8 billion in lost taxes. While the measure passed the Senate by a 98-0 vote, Sen. Kit Bond, R-Mo., questioned its efficiency in stimulating home sales.

"For the vast majority of cases, the homebuyer tax credit amounted to a free gift since it did not affect their decision to purchase a home," Bond said. "And for the small minority of buyers whose decision was directly caused by the credit, this raises the question of whether we are subsidizing buyers who may not have been able to afford buying a home in the first place."

The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.

The credit would be extended an additional year, until June 30, 2011, for members of the military serving outside the United States for at least 90 days.

Expanding the tax credit for money-losing companies is projected to cost $10.4 billion.

The business tax break would allow money-losing companies to use current losses to offset taxable profits earned in the previous five years, giving them refunds of taxes paid in those years. Under current law, businesses with annual gross receipts of more than $15 million can claim losses back only two years.

The tax break would help industries suffering losses in 2008 or 2009, including retailers, homebuilders and newspapers. Congress included a scaled-back version of the tax break - for companies with revenues of $15 million or less - in the economic recovery package enacted in February. The new tax break would be available to companies of any size, providing a quick source of cash.

The U.S Chamber of Commerce has been a big backer of the tax break for money-losing companies.

"It frees up capital that they can use to maintain jobs and potentially even hire new people as the economy returns," said Caroline Harris, senior tax counsel for the U.S. Chamber of Commerce.

The tax breaks would be paid for largely by delaying a tax break for multinational companies that pay foreign taxes. It was passed in 2004 and originally was to have taken effect this year, but would now be delayed until 2018.

The bill is H.R. 3548.

HUMOR: HAPPY HALLOWEEN

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Tue, 03 Nov 2009 11:43:09 -0600

Happy Halloween

Happy Halloween!

$2.6 Billion to Help Low Income Households with Energy Costs

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 24 Oct 2009 13:57:39 -0500

HHS Provides More Than $2.6 Billion to States to Help Low-Income Households with Energy Costs

HHS Secretary Kathleen Sebelius today announced the release of more than $2.6 billion to states to help low income citizens with their heating bills during October, November and December of this year. These funds represent grants to states, tribes and territories under the Low Income Home Energy Assistance Program (LIHEAP).

"By releasing this money now, we are helping to provide needed assistance to millions of Americans who otherwise might not be able to afford heat this winter," Secretary Sebelius said. "This program helps to offset seasonal energy costs for low income families, leaving more of their income to use for other necessities."

LIHEAP helps eligible families pay the costs of heating and insulating their homes in the winter, and cooling their homes in the summer. HHS is releasing such a large allocation of LIHEAP funds now in order to ensure that states have resources available to support their energy assistance programs as the weather turns colder.

"Each year LIHEAP helps more than five million low income households deal with energy costs," said Carmen Nazario, assistant secretary for children and families. "We will continue to work with states, tribes and territories to assure their heating assistance programs work effectively."

For a complete list of state allocations of the funds released today go to http://www.acf.hhs.gov/news/press/2009/liheap_2010.html.

Individuals interested in applying for energy assistance should contact their local/state LIHEAP agency. For more information, go to http://www.acf.hhs.gov/programs/liheap/ or http://www.acf.hhs.gov/programs/ocs/liheap/brochure/brochure.html.

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FHA Refinance

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Wed, 21 Oct 2009 00:20:06 -0500

FHA Refinance

Learn About Your Mortgage Options

Homeowners enjoy the benefits of investing in their property year after year. For some, there comes a time when that investment can come in handy. Refinancing with an FHA loan can prove to be an effective way to put that equity to work.

Sending a child to college, consolidating bills, taking a much needed vacation, or making home improvements are some of the ways homeowners tap into the equity they have accumulated in their home to help with these expenses. Keep in mind that FHA refinancing is only available to homeowners who are currently using their home as their principal residence.

FHA offers several different options to homeowners who are considering an FHA refinance mortgage:

FHA REFINANCE: CASH OUT REFINANCING

This refinancing option is especially beneficial to homeowners whose property has increased in market value since the home was purchased. A Cash Out refinance allows homeowners to refinance their existing mortgage by taking out another mortgage for more than they currently owe, therefore repaying their current mortgage and using the equity they have built up in their home to take out another larger mortgage. This allows the homeowner to access the equity they have built up in their home and put it to good use where needed.

In order to get the most benefit from refinancing your mortgage, it is often best to consider refinancing after you have had time to build up a significant amount of equity in your home. If the property was purchased more than one year prior to the refinance, the homeowner can refinance the existing mortgage for up to 85 percent of the appraised value plus the allowable closing costs, which vary from state to state.

FHA REFINANCE: STREAMLINED REFINANCING

This refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly and oftentimes without an appraisal. FHA Streamlined Refinance also cuts down on the amount of paperwork that must be completed by your lender saving you valuable time and money.

In order to qualify for a Streamlined Refinance your original home loan must be an FHA loan in good standing and the refinance must lower your monthly interest payments. This type of refinancing option reduces your monthly expenses by lowering your payments but there is no option to receive cash back. This works well for people who are in good financial standing with no significant debt because it allows you a little extra money each month that can be put to good use elsewhere.

New Jersey Food Stamp Program

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 17 Oct 2009 14:37:25 -0500

Government Aid and Services

Home Page > Government Aid and Services > Hunger and Nutrition > Food Stamps

New Jersey's Food Stamp Program

Do you need help paying for groceries? Many people who are eligible for New Jersey's Food Stamp Program don't know it. Many families qualify for the program, even if they work, own a home, or own a car. The following information can help you figure out if you might qualify for the program.

Aren't food stamps just for people on welfare?

No. Most people who are eligible for food stamps are not receiving Work First New Jersey (WFNJ) welfare benefits.

Can I get food stamps if I work?

Yes. Even if you are working, if your household income is below 130% of the Federal Poverty Level, you might qualify for food stamps.

How do I know if I can get food stamps?

Households must first meet income and asset tests. If you meet these tests and are found eligible, you will also have to comply with the program's work requirements. Some people are exempt from the work requirements.

Whether or not you can receive food stamps, and how much you can receive each month, is based on your income. The Food Stamp Program uses a two-step process: First, most households have to have incomes that are no more than the gross income limit based on their household size. This is your income before any deductions are taken. Next, the food stamp office will deduct some of the cost of certain expenses, like child care, utilities, and rent, from your income. The amount left over after these deductions is your net income. Most households must meet both the gross and net income tests. But a household with an elderly person or a person who is receiving certain types of disability payments only has to meet the net income test. The below chart can help you figure out if you meet the income requirements for the Food Stamp Program.

Household Income Limits for Food Stamps

People in Household	Gross Monthly Income Limits	Net Monthly Income Limits
1	$1,127	$867
2	1,517	1,167
3	1,907	1,467
4	2,297	1,767
5	2,687	2,067
6	3,077	2,367
7	3,467	2,667
8	3,857	2,967
Each additional person	+390	+300

What is deducted from gross income?

A 20 percent deduction from earned income.
A "standard" deduction (between $134 and $191 per month, depending on your household size).
A dependent care deduction when needed for work, training, or education-but not more than $200 for each child under age 2 and not more than $175 for each other dependent.
Medical expenses for elderly or disabled members that are more than $35 per month, if they are not paid by insurance or someone else.
Legally owed child support payments.
A $143 shelter deduction if you are homeless.
Excess shelter costs that are more than half of the household's income after the other deductions. Allowable costs include the cost of fuel used to heat and cook, electricity, water, the basic fee for one telephone, rent or mortgage payments, and taxes on the home. (New Jersey allows a household to deduct a set amount for utility costs instead of actual costs.) The amount of the shelter deduction cannot be more than $431 unless one person in the household is elderly or disabled.

What are the food stamp resource limits?

Households may have $2,000 in countable resources, such as a bank account. Households may have $3,000 if at least one person is age 60 or older. Certain resources are not counted, such as a home, furniture, and the resources of people who receive Supplemental Security Income (SSI) or WFNJ benefits.

If I qualify for food stamps, how much will I receive?

The amount of food stamps you get will depend on the number of people in your household and on how much monthly income is left after certain expenses are subtracted. The expenses that are subtracted are called deductions.

A household is normally a group of people who live together and buy food and prepare meals together. The amount of benefits the household gets is called an allotment. The net monthly income of the household is multiplied by three, and the result is subtracted from the maximum allotment for the household size to find the household's allotment. This is because food stamp households are expected to spend about 30 percent of their net income on food.

People in Household	Maximum Monthly Food Stamp Allotment
1	$200
2	367
3	526
4	668
5	793
6	952
7	1,052
8	1,202
Each additional person	+150

Calculating Food Stamp Benefits

Benefit Computation

Example for a household of four

Deduct allowable expenses from your gross income.

Multiply net income by 30%...
(Round up)

Subtract 30% of net income from the maximum allotment for the household size...

$556 net monthly income
x .3 = $166.80 (round up to $167)

$668 maximum allotment for 4 - $167 (30% of net income) = $501.

Food Stamp Allotment for a full month will be $501

How do I apply for food stamps?

The food stamp office must give you an application on the same day that you ask for one. You may ask for it in person, over the phone, or by mail. You may also ask someone else to get one for you. The office must accept the form on the same day you turn it in, even if they cannot interview you on that day.

Fill in your name, address, telephone number, and as much other information as possible on the form. Make sure to sign it. Take or mail the form to the food stamp office as soon as possible. A food stamp worker can help you fill out the rest of the form during your interview.

To find out if you are eligible for food stamps, and to fill out an application and submit it online at the NJHelps Web site. You'll still need to have an interview and will need to submit verification for some of the information in your application.

Do I have to go the welfare office for an interview?

Yes, in most cases, you do have to go to the welfare office for a face-to-face interview, but you can ask for a waiver of that interview if you can show that it would be a hardship for you to get to the office. Even if you qualify for a hardship waiver, the food stamp office will still need you to sign and complete paperwork and to provide verification of certain information. They will still need to conduct an interview but will interview you in your home or over the phone.

How long does it take to receive food stamps?

If you qualify for food stamps, you will get them no later than 30 days from the date the office got your application.

If your household has little or no money and needs help right away, you may be eligible for expedited food stamps. This means that the food stamp office must give you food stamps within seven days of the date you apply.

The food stamp office will usually not interview you on the same day that you turn in the application. After you have turned in your application, the food stamp office will give you a date for an interview. They will contact you by telephone or mail with an interview time and date. If you can't make the interview, contact the food stamp worker right away.

At the interview, a food stamp worker will explain the program rules and help you complete any parts of the application that you have not filled out. The worker will also ask you for proof of certain information you have given. If you have trouble getting papers (documents) or information you need, the worker may be able to help you. If the papers are not easy to get, you may give the name of someone, such as your employer, who can confirm your statements.

How will I know if I am eligible for food stamps?

After your interview, the food stamp office will send you a notice. If you do not qualify for food stamps, the notice will explain why. If you do qualify, the notice will explain how much your food stamp benefit will be. It will also tell you how long you can get food stamps before you must reapply.

If you think that your application has been wrongly denied or that you have not received the correct amount of food stamps, you should tell the office. If they do not agree, you can ask for a fair hearing to challenge the decision. Contact your local Legal Services office or LSNJ-LAW^TM, Legal Services of New Jersey's statewide, toll-free legal hotline, at 1-888-LSNJLAW (1888-576-5529) for more information.

Will I get stamps or coupons? How do I use food stamps?

People who receive food stamps don't receive coupons anymore. Instead, the amount of the food stamps is placed in an account. Food stamp recipients receive a plastic Electronic Benefits Card, similar to an ATM card or a debit card. They then use this card at grocery stores and other places where food stamps are accepted. The cost of the food is automatically deducted from the household's food stamp account.

I am working and my income changes every month. Do I have to go back to the food stamp office each month?

Probably not. If you are working when you apply for food stamps, you only have to report changes in earned income every six months, unless your income goes above the gross monthly income limit for your household size (see the Household Income Limits for Food Stamps chart.) If your income goes above the gross monthly income limit, then you must report this change within 10 days. If you stop working, or start receiving income other than earnings, you will need to report that as well. If your income goes down, however, you can ask the food stamp office to readjust your food stamps to reflect the loss of income.

Where can I apply?

Each county has at least one food stamp office. The county offices are listed below. You must apply in the county where you live. You can apply in person at the food stamp office, or you can call or write for an application. You can also ask someone else to get an application for you. Some food stamp offices are open early in the morning or in the evening. After you submit the application, you (or your authorized representative) will need to go to the food stamp office for an interview, unless it would be a hardship for you to go to the office. If it would be a hardship, the food stamp office can arrange for an interview in your home or at another location.

New Jersey Food Stamp Offices

Agency	Phone	Fax
Atlantic County Department of Family & Community Development 1333 Atlantic Ave. Atlantic City NJ 08401	609-348-3001	609-343-2374
Bergen County Board of Social Services 216 Rte. 17 North Rochelle Park NJ 07662-3300	201-368-4200	201-368-8710
Burlington County Board of Social Services Human Services Facility 795 Woodlane Rd. Mount Holly NJ 08060-3316	609-261-1000	609-261-0463
Camden County Board of Social Services County Admin. Bldg. 600 Market St. Camden NJ 08101	856-225-8800	856-225-7797
Cape May County Board of Social Services Social Services Bldg. 4005 Rte. 9 South Rio Grande NJ 08242-1911	609-886-6200	609-889-9332
Cumberland County Board of Social Services 275 N. Delsea Dr. Vineland NJ 08360	856-691-4600	856-692-7635
Essex County Department of Citizen Services 18 Rector St., 1st Fl. Newark NJ 07102	973-733-3000	973-643-3985
Gloucester County Board of Social Services 400 Hollydell Dr. Sewell NJ 08080	856-582-9200	856-582-6587
Hudson County Division of Social Services John F. Kennedy Office Bldg. 2 Enos Place Jersey City NJ 07306	201-420-3000	201-420-0343
Hunterdon County Division of Social Services Community Services Center 6 Gauntt Place Flemington NJ 08822	908-788-1300	908-806-4589
Monmouth County Division of Social Services 3000 Kozloski Rd., PO Box 3000 Freehold NJ 07728	732-431-6000	732-431-6267
Morris County Division of Employment & Temporary Assistance Services 340 W. Hanover Ave. Morris, NJ 07963 Dover Office: Late hours - 4:30-6:30 PM 8 South Morris St., Dover NJ, 07801	973-326-7800	973-326-7251
Ocean County Board of Social Services 1027 Hooper Ave. North, PO Box 547 Toms River NJ 08754-0547	732-349-1500	732-473-0669
Passaic County Board of Social Services 80 Hamilton St. Paterson NJ 07505-2057	973-881-0100	973-881-3232
Salem County Board of Social Services 147 S. Virginia Ave. Penns Grove NJ 08069	856-299-7200	856-299-3245
Somerset County Board of Social Services 73 E. High St., PO Box 936 Somerville NJ 08876	908-526-8800	908-231-9010
Sussex County Division of Social Services 83 Spring St., PO Box 218 Newton NJ 07860-0218	973-383-3600	973-383-3627
Union County Division of Social Services 342 Westminster Ave. Elizabeth NJ 07208-3290	908-965-2700	908-965-2758
Warren County Welfare Board Court House Annex 501 Second St., Box 3000 Belvidere NJ 07823-3000 Clients must be screened by phone first.

Home Modification Grants for Veterans

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 17 Oct 2009 13:04:06 -0500

Home Modification Grants for Veterans

Veterans or Service Members who have certain service-connected disabilities may be entitled to a grant from the Department of Veterans Affairs (VA) to construct an adapted home or modify an existing home to meet their adaptive needs. The goal of the Specially Adapted Housing (SAH) Grant Program is to provide a barrier-free living environment that allows the Veteran or Service Member to live independently. An application form can be downloaded from the VA's Web site

$20 million in grants from HUD Deadline November 5, 2009

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 17 Oct 2009 12:52:13 -0500

Housing Service Coordinator Program

The U.S. Department of Housing and Urban Development (HUD) is offering $20 million in grants to help elderly residents and non-elderly residents with disabilities access the services they need to continue to live independently in their own homes. HUD is making these grants available through its Service Coordinator Program that will support the hiring of service coordinators to help frail and at-risk elderly individuals and persons with disabilities receive health care, meals and other critical support services. The application deadline is November 5, 2009.

Assistive Technology Resource Center in Your State

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 17 Oct 2009 12:42:57 -0500

Find an Assistive Technology Resource Center in Your State

State Assistive Technology (AT) Act programs work to improve access to assistive technology for individuals with disabilities through comprehensive statewide programs. These programs include device loans, AT reuse, device demonstrations and state financing activities. For examples of how some states have helped people with disabilities get assistive technology visit the Web site of the Association of Assistive Technology Act Programs (ATAP). For a listing of AT manufacturers and distributors in your state visit ABLEDATA.

For more information about assistive technology and its role in increasing the independence of people with disabilities visit Disability.gov's Technology section

Think College Intellectual/Developmental Disabilities

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 17 Oct 2009 12:38:38 -0500

Think College

The Think College Web site focuses on three primary areas in postsecondary education for people with intellectual/developmental disabilities-research, training, and technical assistance and dissemination. Doors to colleges all over the country are opening for people with intellectual and other developmental disabilities in many different ways. Intended for transition-age students as well as adults attending or planning for college, the site provides resources and information about training events and offers strategies for talking to others.

More information for parents, teachers and students is available in Disability.gov's Education section.

H1N1 Flu and You

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 17 Oct 2009 12:31:34 -0500

2009 H1N1 Flu & You

This new brochure from the Centers for Disease Control & Prevention (CDC) describes flu symptoms, emergency warning signs and provides information for people with chronic health conditions or disabilities such as cancer, blood disorders (including sickle cell disease), chronic lung disease, neuromuscular disorders (including muscular dystrophy and multiple sclerosis) and weakened immune systems (including people with HIV/AIDS). For more about the flu visit FLU.gov.

For more health-related resources visit Disability.gov's Health section.

Housing Needs of People with Disabilities

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Sat, 17 Oct 2009 12:05:07 -0500

U.S. Department of Housing & Urban Development

The U.S. Department of Housing & Urban Development (HUD) manages several programs that respond to the housing needs of people with disabilities. HUD's Section 811 program provides funding to nonprofit organizations to develop rental housing with supportive services for very low-income adults with disabilities and provides rent subsidies. HUD also offers housing choice vouchers so that very low-income families, the elderly and people with disabilities can afford decent, safe housing. HUD's Housing Opportunities for Persons with AIDS (HOPWA) program addresses the housing needs of persons living with HIV/AIDS and their families. Find a HOPWA program near you. The Department also plays a central role in protecting the housing rights of people with disabilities and others by investigating complaints filed under the Fair Housing Act.

For more information about housing assistance programs visit "Find Housing" on Disability.gov.

Interest rate drop fuels demand

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Fri, 16 Oct 2009 17:00:27 -0500

Interest rate drop fuels demand

According to Freddie Mac, 30-year-fixed-rate mortgage average fell further to 4.87 percent with an average 0.7 point for the week ending Oct. 8 from 4.94 percent last week. "Such low rates are spurring mortgage demand," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.

"Interest rates for 30-year fixed-rate loans were the lowest since mid-May; 15-year FRMs were at a record low since data were first collected in 1991 and 5-year ARMs also hit an all-time record starting in 2005. Compared to a year ago, consumers could shave almost $134 off their monthly mortgage payments on a 30-year fixed-rate loan for $200,000 by refinancing.

In addition to spurring mortgage demand, applications were up to a 19-week high over the week ending in Oct. 2, according to the Mortgage Bankers Association - applications to purchase a home were at the strongest pace since the beginning of 2009.

Who Qualifies for the 2009 First Time Home Buyers Credit

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Fri, 16 Oct 2009 16:52:00 -0500

2009 Tax Credit for First Time Home Buyers

Would you like $8000 back on your taxes this year? Download a free ebook today!

We've been hearing a lot of questions about the new tax credit. Who qualifies? How does it work? How long will it last? In this special edition video, we're taking an in-depth look at the $8,000 tax credit for first time home buyers.

According to the new legislation, a first time home buyer is defined as someone who has not owned a principle residence in the past three years. Those three years are counted up to the date you take possession of the house you buy in 2009. This means that even if you've owned a home in the past, you can still take advantage of the tax credit as long as you haven't purchased a primary residence since 2006.

The same goes for married tax payers - they must both be first time home buyers. For non-married joint buyers, only one of them needs to be a first time home buyer, or someone who hasn't owned a primary residence in the past three years.

Qualifying homes include:

New homes
Homes that are being re-sold
Condos
Townhomes

The main restriction is that the credit is only for those who buy a home as their primary residence. So investors looking to buy a rental property would not qualify for the credit. However owning a vacation home or a rental property already does not neccessarily disqualify you from taking advantage of the credit (as long as you haven't owned a primary residence in the past three years).

A Look at the Numbers

The tax credit is equal to 10% of the purchase price of the home, up to $8,000. The amount of the credit you can qualify for is related to how much money you earn. Here's how the credit is scaled:

Single home buyers earning 95K or less qualify. If you make 75K or less, you qualify for 100% of the $8000. If you make halfway, 85K, you qualify for 50% or $4000. The credit phases out gradually between 75K and 95K of income. For example, if you make halfway between the income limits, 85K, you qualify for up to half of the credit.
The same rate applies for married couples and joint buyers whose incomes limits are doubled to $150,000 to $170,000. Married couples or joint buyers whose incomes are less would receive the full $8000 credit. At an income level of $160,000, halfway between 150 and 170, the buyers would receive half the credit - or $4,000. And the credit phases out altogether at $170,000.

This credit represent a significant amount of money. One of the biggest points of difference for the new credit from the one congress passed in July of 2008, is that the new credit does not have to be paid back.

In addition, it's refundable, which means that if you've paid all your taxes as you go with an automatic payroll deduction, you would receive an $8,000 check from the IRS.

If you're committed to buying a house in 2009 and want to use the $8000 tax credit for a downpayment, consult with your certified public accountant.

In Summary

Qualifying home buyers will need to make their home purchase between January 1, 2009 and December 1, 2009. And the home has to remain their principal residence for the following three years.

The new tax credit coupled with historically low mortgage rates and rising affordability, offers buyers a great opportunity if they act fast.

If you're interested in learning more about the new tax credit or about homes in your area, speak with a local real estate agent soon.

Social Security Special Benefits for WWll Veterans

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 05 Oct 2009 18:53:19 -0500

Program Description
Special benefits can be paid to certain World War II veterans. These include veterans who served in the active U.S. military from September 16, 1940 through July 24, 1947. It also includes Filipino veterans who served in the organized military of the Philippines from July 26, 1941 through December 30, 1946 (while those forces were in the service of the U.S. Armed Forces).

The special veterans benefits are payable for months in which qualified veterans live outside the United States. If you qualify, you will receive benefits for each month in which you reside outside the United States on the first day of the month.

To qualify for this benefit, you must meet all of the following requirements:

be age 65 or older as of December 14, 1999
be a World War II veteran as described above
be eligible for Supplemental Security Income (SSI) as of December 1999
be eligible for SSI for the month you apply for special veterans benefits
have other benefit income that is less than 75 percent of the current SSI federal benefit rate.

This benefit cannot be paid to the veteran's dependents or survivors.

Your Next StepsThe following information will lead you to the next steps to apply for this benefit.

Application Process
If you would like to find out if you may be eligible for any of the benefits SSA administers, visit http://best.ssa.gov.

Once you have completed the eligibility screening questionnaire, you will be provided with a list of benefits for which you may be eligible. Print this page for your records before going to the application site.

Once you know which benefits you can apply for, go to http://www.socialsecurity.gov/appl yonline/ to apply online.

You can also call 1-800-772-1213 (TTY: 1-800-325-0778) for additional information about SSA benefits and for application information.

Program Contact Information
For more information on this and any SSA benefit, call:
1-800-772-1213 (TTY: 1-800-325-0778)

Visit our Publications page for detailed information about SSA programs and policies:
http://www.ssa.gov/pubs/

For information about Department of Veterans Affairs benefits, visit:
http://www.va.gov

Managing Agency
U.S. Social Security Administration
http://www.socialsecurity.gov

New Jersey Weatherization Assistance Program

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 05 Oct 2009 18:35:38 -0500

Program Description

The New Jersey Department of Community Affairs, Division of Housing and Community Resources administers the Weatherization Assistance Program designed to promote energy conservation in low-income households.

General Program Requirements

In order to qualify for this benefit program, you must be a resident of the State of New Jersey, your household's annual income before taxes must not exceed $23,400 if one person lives in the household; $31,500 if two people live in the household; $39,600 if three people live in the household; $47,700 if four people live in the household; $55,800 if five people live in the household; $63,900 if six people live in the household; $72,000 if seven people live in the household; and $80,100 if eight people live in the household. For larger households, add $2,124 for each additional person in the home.

Your Next StepsThe following information will lead you to the next steps to apply for this benefit.

Application Process
To apply for this program, please contact your local administering agency at the following location:
http://www.state.nj.us/dca/divisions/dhcr/offices/localagencies.html

Program Contact Information
For more information on the Home Weatherization Assistance program, please call the New Jersey Department of Community Affairs at:
609-292-6140

Managing Agency
New Jersey
http://www.state.nj.us

HUD Public Housing Program

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 05 Oct 2009 18:28:34 -0500

Program Description
Public housing was established to provide decent and safe rental housing for eligible low-income families. Public housing comes in all sizes and types, from scattered single family houses to highrise apartments for elderly families.

General Program Requirements
Public housing is limited to low-income families and individuals and eligibility is based on annual gross income and U.S. citizenship or eligible immigration status. If you are eligible, a public housing agency will check your references to make sure you and your family will be good tenants. Any applicant whose habits and practices may be expected to have a detrimental effect on other tenants or on the project's environment will be denied.

Your Next StepsThe following information will lead you to the next steps to apply for this benefit.

Application Process
If you are interested in applying for a voucher, contact the local PHA:
http://www.hud.gov/offices/pih/pha/contacts/.

Program Contact Information
For further assistance, please contact the HUD Office nearest to you:
http://www5.hud.gov:63001/po/i/netlocator/.

For additional information, please contact the PIH Customer Service Center at:
http://www.hud.gov/offices/pih/about/css.cfm.

Or you may call us at 1-800-955-2232, from 9:00 a.m. to 5:00 p.m., Eastern Standard Time (EST) daily, Monday through Friday.

Web Site Address:
http://www.hud.gov/renting/phprog.cfm

Managing Agency
U.S. Department of Housing and Urban Development
http://www.hud.gov/

Housing Choice Voucher Program (Section 8)

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 05 Oct 2009 18:24:20 -0500

Program Description
The housing choice voucher program provides assistance to very low-income families to afford decent, safe, and sanitary housing. Housing can include single-family homes, townhouses and apartments and is not limited to units located in subsidized housing projects.

General Program Requirements
Housing choice vouchers are administered locally by public housing agencies (PHAs). A family that is issued a housing voucher is responsible for finding a suitable housing unit of the family's choice where the owner agrees to rent under the program. A housing subsidy is paid to the landlord directly by the PHA on behalf of the participating family. The family then pays the difference between the actual rent charged by the landlord and the amount subsidized by the program.

Your Next StepsThe following information will lead you to the next steps to apply for this benefit.

Application Process
If you are interested in applying for a voucher, contact the local PHA:
http://www.hud.gov/offices/pih/pha/contacts/

Program Contact Information
For further assistance, please contact the HUD Office nearest to you: http://www5.hud.gov:63001/po/i/netlocator/.

For additional information, please contact the PIH Customer Service Center at: http://www.hud.gov/offices/pih/about/css.cfm.

Or you may call us at 1-800-955-2232, from 9:00 a.m. to 5:00 p.m., Eastern Standard Time (EST) daily, Monday through Friday.

Web Site Address:
http://www.hud.gov/offices/pih/programs/hcv/about/fact_sheet.cfm

Managing Agency
U.S. Department of Housing and Urban Development
http://www.hud.gov/

Take Action: Extend and Expand the Homebuyer Tax Credit

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Thu, 01 Oct 2009 09:34:25 -0500

TAKE ACTION: EXTEND AND EXPAND THE HOMEBUYER TAX CREDIT

http://takeaction.realtoractioncenter.com/campaign/tbtc?_source=mls

Atlantic City, New Jersey is no longer safe! Bring back the K-9 (dogs) units

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Wed, 30 Sep 2009 23:11:58 -0500

http://www.cityofatlanticcity.org/serv_feedback.aspx

Name:

Atlantic City Is No Longer Safe: Bring Back The Dogs!

Category:

Organizations - Community Organizations

Description:

The following are excerpts taken from several articles appearing in The Atlantic City Press:
The Langford administration sidelined the Atlantic City Police Dept K9 unit on Monday August 24,2009. This action not only puts the officers lives at stake, but also puts the public's safety at risk.

Business Administrator Michael Scott ordered Police Chief John J. Mooney to indefinitely cease the use of police canines.
Mooney said the directives are solely an attempt to politically attack him and his department. He said Monday he plans to sue the city, claiming the mayor does not have the authority to interfere with the department's daily operation.
Mayor Lorenzo Langford issued the order to halt the use of patrol dogs. The administration contends that police dogs deserve to be caged based on almost daily complaints to the mayor's office from residents alleging police handlers are directing the dogs to use unnecessary force.

"We cannot continue to act as though we are disregarding the slew of complaints that have come in. Some of these complaints have been crazy," said Langford's spokesman, Kevin Hall.
Experts say police dogs are indispensable, reducing the risk of harm to officers and saving government money because they cost little to maintain.
_______________________________
So, the criminals in Atlantic City are complaining that they are being bitten. If they weren't committing a crime, maybe they wouldn't have been bitten. It's no secret that Atlantic City is a high crime city and the worst offenders are the residents. The city claims to have had multiple complaints from said residents. So let's see them!
The point here is that without these dogs, how safe do you feel in Atlantic City now?
Criminals are more fearful of being bitten by a police dog then they are facing an officers gun.
Which brings up the reality that instead of surrendering because of the presence of a dog, the suspect is more than likely going to flee, or draw a weapon. Which puts the life of an officer (not to mention an innocent bystander) at risk .
Go ahead, walk the boardwalk with your family. Head to the casinos. Visit the shopping areas and restaurants.
But don't expect a K9 presence to make you feel safe. Because they are all home in their kennels.

Still feel safe going into Atlantic City?
Here's a small taste of things to come: (Source AC press article)
"there were two incidents in the last two days that would normally require canine support. One involved an open door after hours at Texas Avenue School and the other a potential crowd-control situation with members of the United Auto Workers at Bally's Atlantic City.
More of those situations will come. When they do,they will end badly if Atlantic City keeps their police dogs caged.
Bad things are going to happen in the future, let's put it that way. Some humans are going to get hurt. The real reason we have these dogs is to transfer as much risk on to the dogs as possible, minimizing the risk to our officers."

Want to help do something about it? Call or write the mayors office and demand the return of the K9 unit.
Atlantic City Mayor's Office
1301 Bacharach Blvd # 706, Atlantic City, NJ 08401
(609) 347-5400
Or you can fax a letter to: (609) 347-5638

Help the citizens and visitors of Atlantic City to feel safe again.
And tell the mayor you will not patronize the city again until the dogs are returned.
Hit em where it hurts! In their greedy little pockets!

Help With Your Utility Bills : New Jersey

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 28 Sep 2009 14:44:19 -0500

Help With Your Utility Bills: New Jersey


	Information by State Esta página en español Print version

	Links

If you need help paying your utility bills, contact one of these organizations.

New Jersey Department of Human Services Energy Assistance Programs - financial assistance programs for low-income residents to help pay winter heating bills.

	Low Income Home Energy Assistance Program (LIHEAP) - To find out if your're eligible for this assistance, or if you are in an emergency heating situation, call (800) 510-3102
	For information on assistance from the Universal Service Fund (USF), call (866) 240-1347

New Jersey Statewide Heating Assistance and Referral for Energy Services (SHARES) - provides non-profit assistance to individuals and families that need temporary help in paying their energy bills

For eligibility information, contact a New Jersey Shares intake center

Lifeline utility assistance for seniors - (800) 792-9745

Be sure to also contact your utility company for information on any utility payment options or other types of assistance.

Make your home more energy efficient

Buying A Home

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 28 Sep 2009 14:38:06 -0500

Buy a Home

The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!

Nine steps to buying a home

Figure out how much you can afford
Know your rights
Shop for a loan
Learn about homebuying programs
Shop for a home
Make an offer
Get a home inspection
Shop for homeowners insurance
Sign papers

Step 1: Figure out how much you can afford

What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. The calculators below can help, but it is best to visit a lender to find out for sure.

	How much home can you afford?
	Buying vs. Renting
	Home Economics

Need help with your downpayment and/or closing costs?

Homebuying programs in your state

A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that downpayment!

Find a housing counselor near you

Step 2: Know your rights

	Fair Housing: Equal Opportunity for All - brochure
	Real Estate Settlement Procedures Act (RESPA)
	Borrower's rights
	Predatory lending

Back to Top

Step 3: Shop for a loan

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.

	Looking for the best mortgage: shop, compare, negotiate - brochure
	Let FHA help you
	Why Ask for an FHA Loan?
	Learn about interest only loans
	Avoid Predatory Lenders

Step 4: Learn about homebuying programs

Homebuying programs in your state

FHA loan programs offer lower downpayments and are a good option for first-time homebuyers.

Let FHA help you

HUD's special homebuying programs

	Good Neighbor Next Door (formerly known as Teacher/Officer/Firefighter Next Door)
	Hurricane Evacuees discounted sales
	Homeownership for public housing residents
	Indian Home Loan Guarantee Program (Section 184)

Step 5: Shop for a home

	Choose a real estate agent
	Wish list - what features do you want?
	Home-shopping checklist - take this list with you when comparing homes
	Homes for sale (including HUD homes)
	" Fixer-uppers " - home purchase and repair programs
	Manufactured (mobile) homes
	Build a home

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.

Back to Top

Step 6: Make an offer

Discuss the process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.

Making an offer

Step 7: Get a home inspection

Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

	For Your Protection Get a Home Inspection
	10 Questions to ask a home inspector

Step 8: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around.

	Homeowners insurance
	12 ways to lower your homeowners insurance costs

Step 9: Sign papers

You're finally ready to go to "settlement" or "closing." Be sure to read everything before you sign!

Settlement Costs and Helpful Information

Homeless Assistance Program

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 28 Sep 2009 14:31:08 -0500

Homeless Assistance Programs


	Information by State Print version

Introduction

HUD's Homeless Assistance Web Page is available to help you learn more about HUD's homeless assistance programs, and to keep you informed about available funding. HUD's homeless assistance programs are broken down into two main categories, formula (non-competitive), and competitive. Competitive programs are under the umbrella of Continuum of Care.

Competitive Programs

The McKinney-Vento Homeless Assistance Act programs administered by HUD that award funds competitively require the development of a "Continuum of Care" system in the community where assistance is being sought. A continuum of care system is designed to address the critical problem of homelessness through a coordinated community-based process of identifying needs and building a system to address those needs. The approach is predicated on the understanding that homelessness is not caused merely by a lack of shelter, but involves a variety of underlying, unmet needs - physical, economic, and social. Funds are granted based on the competition following the Notice of Funding Availability (NOFA). Continuum of Care Homeless Assistance Programs include:

Supportive Housing Program
Provides housing, including housing units and group quarters, that has a supportive environment and includes a planned service component.

Shelter Plus Care Program
Provides grants for rental assistance for homeless persons with disabilities through four component programs: Tenant, Sponsor, Project, and Single Room Occupancy Rental Assistance.

Single Room Occupancy Program
Provides rental assistance on behalf of homeless individuals in connection with moderate rehabilitation of SRO dwellings.

Formula Program (Non-Competitive)

Formula grants are awarded on the basis of the Consolidated Plan that states and local jurisdictions may fill out.

Emergency Shelter Grant Program
A federal grant program designed to help improve the quality of existing emergency shelters for the homeless, to make available additional shelters, to meet the costs of operating shelters, to provide essential social services to homeless individuals, and to help prevent homelessness.

Other

Title V program
HUD collects and publishes information about surplus federal property that can be used to help homeless persons. Eligible grantees include states, local governments, and nonprofit organizations.

Base Realignment and Closure
The congressionally authorized process the US Department of Defense has previously used to reorganize its base structure to more efficiently and effectively support our military forces, increase operational readiness and facilitate new ways of doing business.

If you would like to locate the HUD office closest to you, please select your Local HUD Office which will connect you with the Web Page of each Field Office. The Annual Progress Report is available now in a Word format.

Rental Assistance

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 28 Sep 2009 14:25:16 -0500

Rental Assistance

Learn more about renting and HUD rental assistance programs.

Need Help?

	Privately owned subsidized housing - HUD helps apartment owners offer reduced rents to low-income tenants. Search for an apartment and apply directly at the management office.
	Public Housing - affordable apartments for low-income families, the elderly and persons with disabilities. To apply, contact a public housing agency.
	Housing Choice Voucher Program (Section 8) - find your own place and use the voucher to pay for all or part of the rent. To apply, contact a public housing agency.

Local Renting Information

Rental help in your state - find affordable rentals and special needs housing, get help with your utility bills, and more

Need Advice?

Contact a housing counseling agency or call toll-free (800) 569-4287

FHA Loan Guidelines

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 28 Sep 2009 14:19:02 -0500

FHA Loan Guidelines

Important Facts About the FHA Loan Process

The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created.

FHA MORTGAGE INSURANCE

FHA insured loans require mortgage insurance to protect lenders against losses that result from defaults on home mortgages.

FHA LOAN LIMITS

FHA lending limits vary based on a variety of housing types and the state and county in which the property is located.

LOAN CHECKLIST

Before you start the loan process, you'll want to be prepared for the loan application. Have your information organized and ready for your loan officer. Be prepared to pay for property appraisal and a credit report.

CLOSING COSTS

While FHA defines which closing costs are allowable as charges to the borrower, the specific costs and amounts that are deemed reasonable and customary are determined by each local FHA office.

FHA DEBT RATIOS

In order to prevent homebuyers from getting into a home they cannot afford, FHA guidelines have been set in place requiring borrowers and/or their spouse to qualify according to set debt to income ratios.

FHA CREDIT

An FHA loan applicant's past credit performance that demonstrates good credit history and a solid track record of timely payments will likely be eligible for the

New Jersey FHA Loan Limits

Julie Staradumsky CREN (Keller Williams Realty Atlantic Shore) — Mon, 28 Sep 2009 14:14:54 -0500

FHA Limits

21 match(es) found. Find: Limits for other states
Make your own NEW JERSEY FHA Limits widget
County Name Single Family Duplex Tri-plex Four-plex

ATLANTIC $453,750 $580,850 $702,150 $872,600
ATLANTIC CITY, NJ (MSA)

BERGEN $729,750 $934,200 $1,129,250 $1,403,400
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO

BURLINGTON $420,000 $537,650 $649,900 $807,700
CAMDEN, NJ METROPOLITAN DIVISION

CAMDEN $420,000 $537,650 $649,900 $807,700
CAMDEN, NJ METROPOLITAN DIVISION

CAPE MAY $487,500 $624,100 $754,350 $937,500
OCEAN CITY, NJ (MSA)

CUMBERLAND $405,000 $518,450 $626,700 $778,850
VINELAND-MILLVILLE-BRIDGETON, NJ (MSA)

ESSEX $729,750 $934,200 $1,129,250 $1,403,400
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION

GLOUCESTER $420,000 $537,650 $649,900 $807,700
CAMDEN, NJ METROPOLITAN DIVISION

HUDSON $729,750 $934,200 $1,129,250 $1,403,400
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO

HUNTERDON $729,750 $934,200 $1,129,250 $1,403,400
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION

MERCER $440,000 $563,250 $680,850 $846,150
TRENTON-EWING, NJ (MSA)

MIDDLESEX $729,750 $934,200 $1,129,250 $1,403,400
EDISON, NJ METROPOLITAN DIVISION

MONMOUTH $729,750 $934,200 $1,129,250 $1,403,400
EDISON, NJ METROPOLITAN DIVISION

MORRIS $729,750 $934,200 $1,129,250 $1,403,400
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION

OCEAN $729,750 $934,200 $1,129,250 $1,403,400
EDISON, NJ METROPOLITAN DIVISION

PASSAIC $729,750 $934,200 $1,129,250 $1,403,400
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO

SALEM $420,000 $537,650 $649,900 $807,700
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION

SOMERSET $729,750 $934,200 $1,129,250 $1,403,400
EDISON, NJ METROPOLITAN DIVISION

SUSSEX $729,750 $934,200 $1,129,250 $1,403,400
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION

UNION $729,750 $934,200 $1,129,250 $1,403,400
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION

WARREN $402,500 $515,250 $622,850 $774,050
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA