Federal First-Time Homebuyer Credit Information

First-time homebuyers may be able to take advantage of a tax credit for homes purchased in 2008 or 2009. The credit: * Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009. * Applies only to homes used as a taxpayer’s principal residence. * Reduces a taxpayer’s tax bill or increases […]

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New Information on Short Sales, the Alternative to Foreclosures

If your home is at risk of foreclosure, you don’t have to panic. There are many ways to ease the difficult situation, and one may be right for you. The country has seen a recent spike in foreclosures and defaults. As a result, in addition to new legislature, lenders have been more willing to work […]

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Six Things to Know About the First-Time Homebuyer Credit

1. Up to $8,000 for new buyers: The credit is equivalent to 10% of the purchase price of the home. It is capped at $8,000 and applies only to first-time home buyers and principal residences. Unlike the previous $7,500 incentive, this credit does not have to be repaid. 2. First time buyers defined: For the […]

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To Draft a Contract or not Draft a Contract: That is the Question

Contributing Writer Justin S. Daniels To Draft a Contract or not Draft a Contract: That is the Question After multiple negotiation sessions the deal has been struck and all that is left is to draft a contract. Who should draft the contract, isn’t it easier and cheaper to let the other party’s lawyer draft the contract and just have […]

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HUD: Tax Credit Can Be Used on Closing Costs

HUD: Tax Credit Can Be Used on Closing Costs FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was […]

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We Don’t Need Another Department of Education!

We Don’t Need Another Department of Education! Health Insurance Reform By Victoria J. Braden The United States does not need another Department of Education! We do not need Washington to collect our tax dollars, decide where these dollars are to be spent and send them back to the States. We need healthcare reform, NOT a […]

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