advice for first time home buyers: It's the least we can do..... Special Rules for Members of the Military, the Foreign Service - 12/03/09 11:33 PM

Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.
Exemption From Tax Credit Recapture Rules
Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit.
However, qualified service members who sell or move from a tax credit home within three years of the initial … (1 comments)

advice for first time home buyers: New Home Sales Down Even With First Time Homebuyers Credit - 11/30/09 04:34 AM

New Home Sales Down ! First Time Homebuyers Tax Credit Not Helping Much .....
New Home sales dropped in September as buyers decided this may not be the time to purchase a new home. Single family homes sales were down nationwide by 3.6 percent.
What is interesting is that the National Association of Home Builders used the downturn as a call for Washington to increase the $8,000 new home buyers subsidy. Now I understand why, that is $8,000 more per home the government will give the builders towards the price of a home, or if we want to be technical, … (0 comments)

advice for first time home buyers: IMPORTANT LENDING INFORMATION JUST IN 5/29/09 - 05/29/09 03:40 AM
York Pennsylvania here!
  Lot's on the docket today, so read on!   Good news #1- After the carnage of Wednesday, as of right now, we have reclaimed  half of that days loss of 207 "basis points"  (34 bps yesterday and 94 as of right now today!)  This is very encouraging as it may show that the move on Wednesday was indeed a "panic selloff" and we will move back to those levels. I have heard many analyst and pretty smart people commenting that the FED will have to make some announcement as to their intentions for the MBS program and that they … (0 comments)

advice for first time home buyers: mortgage pre-approval - 05/08/09 01:30 AM
  York County Pennsylvania here!
  All comsumers need to know this! !!!!
One lender is all you need, and you may or may not end up working with that lender.
A mortgage pre-approval is the same as an approval in the sense that both involve a check of your finances and your credit. Pre-approval is something less than approval, however, because the property value is preliminary and won't be definitively established until you have a purchase contract. Furthermore, a pre-approval may not specify a mortgage price, and if it does specify a price, it is not binding … (1 comments)

advice for first time home buyers: "NEW" 2009 First Time Home Buyers Credit - 03/09/09 01:34 AM
Hello from Dawn Tittsworth in York Pennsylvania!

A Sweet Deal for First-Time Homebuyers
The ins-and-outs of the $8,000 First-Time Homebuyer Tax Credit
If you are - like many Americans - trying to figure out the best time to make your first home purchase, then you may want to take a closer look at the first-time homebuyer tax credit included in the American Recovery and Reinvestment Act, which was signed into action by President Barack Obama on February 17, 2009.
The 2009 homebuyer credit DOES NOT require repayment. Repayment of the credit is only required if the … (1 comments)




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