first time home buyer tax credit: The IRS Clarifies What The First Time And Move Up Buyer Need To Claim The Tax Credit - 02/22/10 03:26 AM
The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties' signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn't common. The IRS clarification says: "In areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. ... The IRS encourages … (0 comments)

first time home buyer tax credit: 4 Great Reasons To Sell Your Home In Westchester County Now - 02/08/10 06:30 AM
Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.
1) Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he'll be in better shape.
2) Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment … (0 comments)

first time home buyer tax credit: First Time Home Buyer Tax Credit Expansion And Other Tax Incentives - 11/06/09 09:54 AM
Tax Credit for Homebuyers
First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of … (1 comments)

first time home buyer tax credit: The First Time Home Buyer Tax Credit May Expand And Extend Into 2010. - 06/22/09 05:17 AM
The First Time Home Buyer Tax Credit has really jump started what has been a rather sluggish real estate market.  As the Dec 1, 2009 expiration date quickly approaches many wonder what will come next.   Now both legislators and the business community are hoping to build on the incentive's success by expanding it. A number of bills have been introduced in the House and the Senate that lobby for an expansion of the measure. Among the proposed changes:
Setting a new cap of $15,000. Extending the tax break into mid-2010. Making the benefit available to all home buyers, not just first-timers. Offering a … (0 comments)

first time home buyer tax credit: FHA Lenders Get The Green Light To Use First Time Home Buyer Tax Credit For Closing Costs - 05/29/09 05:46 AM
The other day I wrote a post on how HUD was going to allow FHA approved lenders to help first time home buyers to use the tax credit up front.  The kinks needed to be worked out and the green light has been given to these lenders to develop bridge loan programs that first time home buyers can use towards their closing costs, buy down their interest rate, or put down more then the minimum 3.5% already required for an FHA loan.The loans cannot be used to cover the initial 3.5% down payment but but will certainly help home buyers.  Any way … (0 comments)

first time home buyer tax credit: Changes To The First Time Home Buyer Tax Credit - 05/22/09 12:00 AM
There was a news post put out by HUD (The Dept Of Housing And Urban Development) last week stating that the Federal Housing Administration (FHA) is going to allow first time home buyers to "monetize" the tax credit and use it as a sort of bridge loan to make a down payment on a home.  This would allow the purchaser to use the money up front rather then use it later.  This plan was still in the works and then rumors began that the plan wasn't going to be implemented and that the credit shouldn't be considered debt or a loan but … (0 comments)

 
Christopher Pagli, "I Stay Open Until You Close" (William Raveis Legends Realty Group) Rainmaker large

Christopher Pagli

"I Stay Open Until You Close"

Tarrytown, NY

More about me…

William Raveis Legends Realty Group

Address: 38 Main St, Tarrytown, NY, 10591

Mobile: 914 406 9023

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