Will The $7,500 Tax Credit For First Time Homebuyers Get New Teeth? - 01/26/09 10:03 AM

                                      Will The $7,500 Tax Credit For First Time Homebuyers Get New Teeth?On January 15th the House Democratic Leadership released information concerning the proposed $825 billion economic stimulus package. Part of the package includes a proposed improvement in the Tax Credit of $7,500 for first time homebuyers that was part if last years Housing and Economic Recovery Act (ACT) enacted in July 2008.Under the ACT a first-time homebuyer buying a principal residence is able to claim a tax credit of 10% of the purchase price up to a maximum of $7,500.  The definition of a first-time homebuyer is an individual … (3 comments)

New higher loan limits again? Will new TARP legislation help the real estate market? - 01/09/09 01:19 PM

New Higher Loan Limits - Are the loan limits that were lowered at the end of 2008 going to be raised again?In a news conference today, January 9th, Barney Frank announced that house democrats have agreed with President-elect Barack Obama that the loan limits for loans purchased by Fannie Mae and Freddie Mac need to be raised back to the $729,750 in high cost areas. The proposal would also increase the loan limits on Federal Housing Administration insured loans. "Keeping the loan limits at last year's levels this year so we can then think about what we do going forward will … (5 comments)

 
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Alan Gross

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