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Ten Facts about the First-Time Homebuyer Credit
Ten Facts about the First-Time Homebuyer Credit Many taxpayers who purchase a home this year will qualify for an $8,000 federal tax credit in Virginia and around the country. The refundable first-time homebuyer credit is a major tax provision in the American Read More...
Update:Reversal of HUD's recent $8,000 tax credit
As I mentioned in my past post, HUD made an announcement on May 12 that they were going to allow homeowners to use the $8000 tax credit as down payment monies by empowering state agencies, non profits and HUD approved Mortgagees to lend the monies to Read More...
$8000 Tax Credit qualifies for Down Payment
HUD Secretary announces that the $8,000 Tax Credit for qualified home buyer's may be used as a down payment. "FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow Read More...
Purchasing a HUD home in Virginia
What do you think of when someone says "HUD home?" What we picture in our mind? Home that is run down , trashed , destroyed and damaged are often used to describe HUD owned properties. What is a HUD Home? A HUD home is simply a FHA-insured property Read More...
What's in for the home buyer with this new stimulus package?
Over the past few weeks, I have spoken with dozens of homebuyers, realtors, financial planners, and fellow mortgage advisors about the economic situation and the stimulus ideas, and the overwhelming consensus was this: "I'm not doing anything Read More...
First‐time Homebuyer Tax Credit -RECOVERY ACT OF 2008
HOUSING AND ECONOMIC RECOVERY ACT OF 2008 First ‐ time Homebuyer Tax Credit FEATURE H.R. 3221 Housing and Economic Recovery Act of 2008 Amount of Credit Ten percent of cost of home, not to exceed $7500 Eligible Property Any single ‐ family residence (including Read More...