Xiao-Qing (Shall-Ching) Lu's (xlu) Blog

With credit markets still tight, many would be buyers are struggling to qualify for a mortgage or sell their previous homes. But allowing a potential buyer to lease to own can address that problem and even allow the owner to lock in a sale price. Typically the renter agrees to buy the house for a...

An exciting new program has been announced!!! The Culinary Union has announced a new loan program that will allow Union members to access a deferred loan to cover the costs of down payment and closing costs requirements....up to $20,000 maximum.    This means they can get in a home for as little ...

NEVADA BOND PROGRAM  1) A first-time home buyer is defined as someone who has not owned or co-owned their own residence within the past three years. 2) If you are purchasing in a "Targeted Area" there are no restrictions on former home ownership.  3) Total Gross Income cannot exceed $72,120. If ...

According to the temporary tax credit President Bush approved in summer of 2008, first time homebuyers are able to received $7,500 credit for the purchase of homes before July 1, 2009. This can be claimed on your 2008 taxes or your 2009 taxes. I want you to know what your options are before makin...

On November 4, democratic President-elect Barak Obama was elected to the White House with 365 electoral votes and 53% of the popular vote On November 10, Circuit City declared bankruptcy and filed for Chapter 11. Its need for bankruptcy protection was due to several reasons, including the difficu...

On October 1, the Senate passed the revised proposal in a 74-25 vote. The proposal was amended to include several provisions aimed at helping individuals and businesses. These revisions to the proposal were seen as a way to "sweeten the deal" and encourage the bill's passage.   On October 3, the...

On September 7, the government seized control of Fannie Mae and Freddie Mac in order to protect the mortgage market from the failure of the two companies and to prevent their problems from negatively impacting the global markets On September 14, Bank of America acquired Merrill Lynch for approxim...

It's almost tax time.  Look for 10 most often overlooked real estate tax deductions below:   1. Failure to deduct principal residence acquisition mortgage fee. 2. Failure to deduct home mortgage refinance loan fees over the life of the home loan. 3. Failure to deduct undedicated loan fees from pr...

WEEKLY RATE REPORT : Rates are down from last week. Seventh week in a row.  That's a nice streak. What makes this most interesting is that Fannie and Freddie starting tracking interest rates each week in April of 1971.   37 years ago.   In the history of this tracking, interest rates have NEVER b...

    Never is there a better time to invest in your future. Home prices in Las Vegas has dropped to the point where with 20% downpayment your return on investment is 14%. This means buying a property in Las Vegas will generate approximately $300 in positive monthly cash flow when renting it out. ...