7 Things All Borrowers Should Know About FHA Loans

FHA Pros, LLC, a national FHA condo approval service, has developed a list of facts speaking to the top misconceptions associated with FHA loans in order to help home buyers better navigate an already confusing market. FHA loans are mortgages issued by qualified lenders and insured by the Federal Housing Administration (FHA).

“We have seen home buyer interest in FHA loans go from practically zero three years ago to upwards of 87 percent today,” said Christopher Gardner, founder and president of FHA Pros, LLC. “Despite this rapid rise in popularity, many buyers still do not fully understand the benefits of these loans, and we believe it’s time to change that.”

1. FHA Loans Are Not Only For Lower-Income Borrowers. FHA loans are available to everyone. In fact, even Bill Gates can get one. There is no maximum income restriction associated with FHA loans. Borrowers do need to substantiate income and assets by submitting proper documentation. This requirement ensures that borrowers are well-vetted and truly able to afford their future homes.

2. FHA Loans Are Not Only For First-Time Buyers. Many people believe FHA loans are available only to first-time homebuyers. This is not the case. Whether borrowers are making their first home purchase or their fifth, they can look to FHA loans as a home financing option.

3. FHA Loans Are Not Just Small Loans; In Fact, Loan Amounts Can Be As High As Almost $800,000. The government recently raised the maximum loan amount from its original cap of $362,790 to $793,750 as a way to help stabilize the housing market. The amount a buyer can borrow varies from county to county. Later this summer, condo buyers interested in FHA loans can visit www.checkfhaapproval.com to instantly identify FHA-approved condo associations and review maximum loan amounts for a given location.

4. FHA Loans Are Not Affiliated With The Section 8 Housing Program. While both programs are administered by the U.S. Department of Housing and Urban Development (HUD), FHA loans have nothing to do with low-income subsidized housing. FHA loans are simply mortgages insured by FHA. This insurance provided by the federal government allows lenders to lend more freely by assuring them that they will be repaid in the event of default. Most traditional lenders, including Wells Fargo & Co., JP Morgan Chase and Citigroup are able to provide FHA loans to their customers.

5. FHA Loans Are Often More Affordable Than Conventional Loans. While FHA loans typically offer the same interest rates as other loans, borrowers benefit from a much lower down payment of as low as 3.5 percent.

6. FHA-Approved Condo Developments Are More Desirable To Buyers. With 87 percent of home buyers indicating that they plan to use FHA loans, condo associations that are not FHA approved are missing out on a significant pool of prospective buyers. Under rules in place since February 2010, an entire condominium development must now apply to HUD and be granted FHA approval before a buyer can purchase a unit in an association with an FHA loan or before an existing unit owner can refinance into an FHA loan.

Due to the general unwillingness of today’s lenders to extend credit with respect to conventional loans, many borrowers find that FHA is their best bet. Lenders don’t mind lending when the federal government (FHA) assures them of repayment.

Homeowners associations (HOAs) should note that although FHA-insured mortgages might be easier to obtain, they are not “risky” loans, due in large part to the strict “full documentation” requirements placed on borrowers.

Individual buyers or sellers can initiate the approval process or current owners can encourage their HOA to apply. More information about the FHA- approval process is available at www.getfhaapproval.com.

7. FHA Loans Are Assumable. In addition to lower down-payment and credit-qualifying requirements as compared to conventional loans, FHA loans are assumable. This means that when a seller with an FHA loan sells his or her property, the loan and its financing terms (interest rate) can be transferred to the new buyer. This unique feature will certainly make a property more valuable in times of rising interest rates.

“Now, more than ever, buyers and sellers need to understand the options available to them when it comes time to buy a home,” continued Gardner. “At FHA Pros we have worked with countless HOAs, attorneys and individuals to easily and efficiently navigate the historically tricky FHA-approval process.”

By RISMedia
July 1, 2010

To read the entire story, visit RISMedia

What It Takes to Get a Mortgage

Rates are still low, but you'll have to jump through a few hoops to qualify.

Is This a Good Time to Get a Mortgage?

Absolutely. In early June, the national average interest rate for a 30-year, fixed-rate conforming loan (under $417,000) was 4.9%, according to HSH Associates, a mortgage-tracking firm. The initial rate for a 5/1 adjustable-rate mortgage (featuring a fixed rate for five years, followed by annual adjustments) was 4.2%. "These are the best rates we'll see for a decade," says Guy Cecala, publisher of the newsletter Inside Mortgage Finance. "Don't count on them getting better." Business is slow right now, so lenders may even bid for your business if you have good credit.

If you're refinancing, act soon. The 30-year fixed rate is poised to rise now that the Federal Reserve   has ended its program of repurchasing mortgage-backed securities to encourage more lending. Freddie Mac expects the 30-year fixed rate to reach 5.5% by the year's end and 5.9% by mid 2011.

The 30-year fixed rate for conforming jumbo loans (125% of a metro area's median home price, up to $729,750) was recently 5.0%, and for traditional jumbos, 5.7%, according to HSH. The conforming-jumbo program is slated to end Dec. 31, but Cecala says lawmakers will probably extend it as long as the housing market is in the doldrums.

What Do I Need to Get a Loan?

Lending standards remain tight, and lenders have been picky even with the best-qualified borrowers. If you're buying or refinancing the mortgage on your primary home, you'll need a minimum down payment of 5% to 10% for a conforming loan or 10% to 15% for a conforming jumbo loan. With 20% or more down, you avoid private mortgage insurance, which typically costs 0.5% to 1.5% of your loan amount per year. Fannie Mae and Freddie Mac, which set the standards for mortgages they buy from lenders, require a minimum credit score of 620; you'll get the best rate if your score exceeds 720. The Federal Housing Administration requires a minimum credit score of 580 to qualify with a down payment of 3.5%, but FHA lenders often impose a higher minimum score of 670. (If you apply with a spouse, lenders will probably base your rate on the lower of your scores.)

Lenders will also scrutinize your ratio of debt to income. Monthly housing expenses (principal, interest, taxes, hazard insurance, private mortgage insurance and association fees) shouldn't account for more than 28% of gross monthly income. Total debt shouldn't exceed 36% of gross income, but in some cases lenders stretch the maximum to 45%. Borrowers with the strongest credit profile may push the housing ratio a bit farther, says Julia Helgesen, a mortgage broker in Minneapolis.

Where Can I Get the Lowest Rate?

Start by calling your current mortgage lender and your bank or credit union. Some mortgage brokers may be able to give you a wholesale rate that beats the rate from a bank's loan officers. Known as correspondent lenders, they are typically large brokers that do the underwriting and immediately sell the loans they originate to wholesale lenders or investors -- meaning they can both find you a loan and approve it. If you're trying to consolidate loans, a mortgage broker may also offer more options than a retail loan officer. However, some lenders prohibit brokers from originating loans of more than $417,000.

When you're ready to get rate quotes, call your prospects in the late morning (eastern time), when lenders have issued the day's rate sheets but before any changes are made to them. Each lender with whom you apply must give you a good-faith estimate, and you can use the GFE to compare lenders' offerings. You don't have to pay an application fee to get a GFE, but you might have to pay about $50 for the lender to pull your credit report.

By Pat Mertz Esswein
Copyrighted, Kiplinger Washington Editors, Inc.

To read the entire story, visit Kiplinger.com

TIPS FOR MOVING
Check out these tips for moving, courtesy of Move.com. It might just help save your clients a bit of time, stress and heartache.

4 weeks from move date: Get organized and start notifying the right people and companies that you'll be moving soon and give them a date to forward or terminate service. Start looking for licensed and professional moving companies, moving guides and relevant coupons.

Tip: If using a professional mover, get quotes from multiple moving companies to get the best deal that is right for you and your needs. Ask plenty of questions like whether or not they give binding quotes and what kind of insurance is included. Be sure to talk with them about the different options available with full-service moves such as packing and unpacking services and providing boxes and packing supplies.

Tip: Important documents such as your child's school records may need to be accessible during your transition. Make sure to put these items aside and make copies of any records for yourself, in case you forget what box they're packed in.

3 weeks from move date: Once you've selected a mover, begin by taking inventory of your belongings and their worth and decide what will be coming with you to your next home.

Tip: Start cleaning out closets, drawers and storage areas of your home and divide things into categories: "pack," "recycle" and "give to friend." You can always have a garage sale or donate old items to charity. This will make packing day a lot easier and you may reduce the total weight you'll be paying for to move.

Tip: If you're moving yourself or contracting for a self-service move, pack the items you know you won't need until 30 days after the move. It will feel great to get started early.

Tip: If possible, take pictures of rooms and areas inside the home or apartment you'll be moving into so you can start thinking about placement of furniture, artwork and other items. This will help save time, headaches...and money...on moving day.

2 weeks from move date: If you choose not to take advantage of full service mover packing services, or are planning to do it yourself and rent a truck, start packing things into boxes. Figure out the logistics of the move, travel plans and if other specialized plans need to be made.

Tip: If you are using a professional mover find out what items are on their "non-allowables" list and discard those items or find a way to transport them separately.

Tip: Instead of stacking plates, pack them vertically; they will travel safer this way.

Tip: If you are moving long distance, remember travel arrangements for your pets. There are pet-exclusive airlines available such as Pet Airways but regular airlines have travel options for pets as well.

Tip: If you have young children, you may want to make childcare arrangements so you can be 100% focused on moving day and your little ones remain safe and busy with fun activities.

Tip: Schedule "move out" cleaning service, carpet cleaners and heavy appliance disposal if necessary for once you'll be out of the home you're vacating. Even if you're selling your current home, it's a nice welcome for the buyers to move into a clean and tidy home.

1 week from move date: Set aside valuable items and keep those with you. Clean before moving and leave your house or apartment as clean as it was when you moved in.

Tip: Make sure the details for paying the moving company are taken care of. Some will require money orders or cashier's checks upon delivery; know their policy in advance to avoid stress on moving day.

Tip: Start eating all the frozen foods you have, or give them to a neighbor or friend. This way you won't have to throw them away on moving day, or worry about packing an ice chest.

Tip: Also think about necessities for managing moving day like confining your pets and anticipating the amount of time you will need.

Tip: Place necessities such as toiletries, toilet paper, rags, "must-have" cooking supplies and organize them in boxes marked "open first" so it's easy to find the initial items you'll want handy on those first few days of being in your next home. Don't forget the flashlight!

Tip: If possible, take one last tour of the new location and identify water and gas shut off locations, as well as the electrical breaker box just in case something happens in the first few days so you're prepared. Might be smart to drop off a fresh box of light bulbs too!

Moving day and beyond: Take one last walk through and make sure nothing has been forgotten or overlooked. Also, make sure all doors and windows are locked and switches turned off, then you are on your way to your new house or apartment.

Tip: Go back to the photos you took when you began to pack up. Now you can show the movers or those helping you unpack exactly where everything goes with photos.

Tip: Unpack one room at a time according to basic needs starting with the kitchen and at least one bathroom...and don't forget to make a bed as early in the day as possible if you'll be sleeping in your home that evening! Remember, you don't have to unpack everything in one day, or even in one week.

Tip: After you've settled in a bit, introduce yourself to some neighbors, ask for advice on the best places to eat, grocery shop, etc. This way you will feel like part of the community and can get some great local tips.

By Move.com

New home sales, orders for most durable goods rise - April 23, 2010

Sales of new homes took the biggest monthly jump in 47 years in March, while orders for most large manufactured products rose by the largest amount since the recession started.

The two reports were a sign that the recovery is picking up speed, and some economists are raising their estimates for U.S. economic growth this year.

"The recovery has been proceeding at a more rapid pace than we thought," said Zach Pandl, economist with Nomura Securities in New York.

Factories are benefiting from a sharp increase in orders from U.S. and foreign businesses. But the housing market's fuel is coming from a less sustainable source: government subsidies. Some analysts predict demand for homes will fall again over the summer, preventing the beleaguered sector from adding much to the economic recovery.

The government is offering an $8,000 tax credit for first-time buyers and $6,500 for current homeowners who buy and move into another property. To qualify, buyers must have a signed contract complete by the end of next week and need to finish their transaction by the end of June.

Major homebuilders like Lennar Corp., Hovnanian Enterprises Inc. and MDC Holdings Inc. are aggressively promoting countdowns to April 30 or "last chance" sales on their websites.

MDC Holdings, which builds communities in 10 states under the name Richmond American Homes, is also offering to pay closing costs for buyers. But CEO Larry Mizel warned investors Friday, "we remain cautious due to the impending expiration of the federal homebuyer tax credit and depressed overall economic conditions."

Nishu Sood, an analyst at Deutsche Bank, said after the credits are gone, "the most likely scenario is that, starting in May, sales will fall off again," said "You will see a letdown."

New home sales rose 27 percent in March, bouncing off February's record low, the Commerce Department said Friday. They rose to a seasonally adjusted annual pace of 411,000, the strongest month since last July.

By Alan Zibel and Christopher S. Rugaber, Associated Press
To read the entire story, visit Yahoo News

Around the Home - Get Rid of Unwanted Items the Green Way - April 3, 2010

Now is the time of year when many of us finally get around to tackling our biggest cleaning and organizing projects around the house. That might include cleaning out cramped closets, boxing up clothes, and even getting to that cluttered garage. Do your part to create a second life for your extra and outgrown stuff and keep it out of the landfill.

Clothing
There’s just something satisfying about a clean closet. As you organize, you might have a lot of old or outgrown clothes you no longer need. An easy thing to do with clothing in good condition is to donate it to Goodwill. You will get a tax deduction and the resale of the items pays for job training programs. Gently worn children’s and teen clothing is highly sought after and you can even make a little money by taking it to a re-sale or consignment shop.

Shoes
For shoes of all sizes, consider donating them to SolesForSouls.org. This organization gives your shoes to kids and adults around the world who need them most. You can find collection sites in hundreds of stores all across the country.

Toys
Toys take up a lot of room all over the house. When you’re tired of tripping over the ones that no longer get any attention, you have options. Many local charities accept them, as do certain battered women’s shelters. Children’s hospitals generally won’t accept toys unless they’re new.

Electronics
Sometimes when we do a deep clean, we stumble across old cell phones, chargers, mp3 players, and other electronic devices we no longer need. NextWorth.com or Gazelle.com are two websites that will pay you to send in your electronics. That’s a great reward for not sending that e-waste to the landfill where toxic chemicals can seep into the soil and water. If you want to get rid of a computer, a good option is to drop it off at Goodwill. Workers there will wipe out any personal information and either resell it or remove the valuable parts for recycling.

Cabinetry
If you have plans for a kitchen or bathroom remodel, Habitat for Humanity’s Restores can be a valuable resource. Some stores have crews who will disassemble and remove usable cabinets for free. They sell these and other donated household goods to fund building local Habitat for Humanity homes.

Hazardous Waste
Don’t forget to get rid of any household hazardous waste that may be lurking in your home or garage. Household hazardous waste includes things like paints, bug killers, antifreeze, most batteries and even used CFLs because they contain mercury. The last thing we should do is put these dangerous items in our trash. Instead, go to Earth911.com and search by zip code to find locations near you that will recycle or dispose of the products safely.

Cleaning and organizing is a chore, but when you do your part with those items you no longer need, you can feel good knowing that you’re helping others and protecting the planet.

By Terri Bennett
To read the entire story, visit RISMedia

Interest Rates Have Nowhere to Go but Up - April 11, 2010

Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates.

That, economists say, is the inevitable outcome of the nation’s ballooning debt and the renewed prospect of inflation as the economy recovers from the depths of the recent recession. The shift is sure to come as a shock to consumers whose spending habits were shaped by a historic 30-year decline in the cost of borrowing.

“Americans have assumed the roller coaster goes one way,” said Bill Gross, whose investment firm, Pimco, has taken part in a broad sell-off of government debt, which has pushed up interest rates. “It’s been a great thrill as rates descended, but now we face an extended climb.”

The impact of higher rates is likely to be felt first in the housing market, which has only recently begun to rebound from a deep slump. The rate for a 30-year fixed rate mortgage has risen half a point since December, hitting 5.31 last week, the highest level since last summer.

Along with the sell-off in bonds, the Federal Reserve has halted its emergency $1.25 trillion program to buy mortgage debt, placing even more upward pressure on rates.

“Mortgage rates are unlikely to go lower than they are now, and if they go higher, we’re likely to see a reversal of the gains in the housing market,” said Christopher J. Mayer, a professor of finance and economics at Columbia Business School. “It’s a really big risk.”

Each increase of 1 percentage point in rates adds as much as 19 percent to the total cost of a home, according to Mr. Mayer.

The Mortgage Bankers Association expects the rise to continue, with the 30-year mortgage rate going to 5.5 percent by late summer and as high as 6 percent by the end of the year.

By New York Times
To read the entire story, visit Yahoo Finance

Money May be Tight, But Homeowners Still Investing in Great Outdoors - March 26, 2010

Homeowners love their yards. They plant gardens, create cozy areas for entertaining, and install decorative elements that they’re as happy to look at from the kitchen window as they are from their chaise lounge.

And despite a weak economy, Americans are expected to continue this love affair with the world outside their door—and perhaps spend a little more time in it as they plan to spend their summer vacations at home.

About 94% of residential landscape architects polled by the American Society of Landscape Architects  earlier this year said that outdoor living spaces, including cooking and entertaining areas, would be popular in 2010. That said, improvements are expected to have few frills as homeowners stick to the basics in this cool economy.

“Homeowners want to create a sense of place for their family, friends, and neighbors to enjoy outside, but an uncertain economy means many will dial back some of the extra features we’ve seen in past years,” said Nancy Somerville, executive vice president for the group.

According to the survey results, some of the most popular features this year include: outdoor seating and dining areas, including benches and seat-walls or weatherized outdoor furniture, as well as fire pits and fireplaces, the classic outdoor grill and outdoor counter space. More lavish outdoor kitchen appliances, including refrigerators and sinks, are expected to be less popular, as are stereo systems and outdoor heaters. Survey results found a growing interest in low-maintenance landscapes and native plants. There’s also a continued resurgence of the home garden.

While consumers may be planting more as a way to have fresher produce or so they can know where their food is coming from, there’s also an economic driver: According to the National Gardening Association, a well-maintained food garden yields an average $500 return, considering a typical investment and the market price of produce.

By Amy Hoak
To read the entire story, visit RISMEDIA

Around the Home - When You Should Leave Home-Improvement Projects to the Experts - March 6, 2010

Eager to save money, homeowners are more willing to get their hands dirty with home-improvement projects these days. But the DIY route  isn’t always the safest or cheapest.

“Especially with money being so tight, it’s totally understandable that people want to take on projects themselves that in other periods they would have hired someone to do,” said Meri-K Appy, president of the Home Safety Council, a Washington nonprofit dedicated to preventing home-related injuries. But how do you determine if a project entails more than you can realistically handle?

Most people tend to gauge the complexity of a project by doing research online, said Chris Murray, front-end insights manager for tool maker Black & Decker. Some do-it-yourself websites grade a project’s difficulty. You should also look at the tools that are required for the job. “If it says ‘You need these tools,’ do you know how to use them? If you don’t, you have a challenge coming,” Murray said.

If you’re unsure about your ability to finish a project correctly, get an expert opinion before proceeding. Sometimes, you may end up spending more money to repair a bungled DIY job than if you had hired someone to do it from the start.

By Amy Hoak
To read the entire story, visit RISMEDIA

A Golden Opportunity: 203k Program Helps First-Time Buyers Turn Dreams into Reality - Feburary 22, 2010

RISMEDIA, February 22, 2010—As a first-time home buyer, Jessica Garcia was excited last April to officially begin her home search. She found a home within her price range, completed the lengthy paperwork and paid for the appraisals, only to later be told after four months that the deal would not close.

Out of luck and out of money, Garcia was frustrated, but not defeated. She went back to her Realtor to start the search again. It was then that she found the home she would later purchase.  Upon first glance, Garcia liked the home and saw its potential, but didn’t have the upfront money it would take to rehab the home the way it needed to be done.

After some discussion, Garcia’s lender, Kevin Roy with Wells Fargo, realized that she might be able to take advantage of HUD’s 203k program, specifically designed to rehabilitate and repair single-family homes. The 203k is a single mortgage loan that provides funds to purchase a home and make repairs and improvements.

By Stephanie Andre
To read the entire story, visit RISMEDIA

3 Factors to Take Into Consideration Before Jumping Into Housing Market- Feburary 6th, 2010

f you have a good job and good credit, the next few months might be a good time to go house hunting. Fence-sitters take the risk that Congress may let a rich tax credit expire, and that interest rates may rise. Buyers and sellers should consider the following factors as they consider jumping into the housing market.

-Mortgage rates are blissfully low, and that may not last. The rate on a 30-year mortgage averaged 5% last week, according to Freddie Mac. Rates are low in part because the Federal Reserve has been buying up about $3 trillion in mortgage-backed securities and mortgage agency debt. The aim is to hold down interest rates and keep mortgages available. But the Fed is slowly removing that financial crutch as the economy improves. It has no plans to buy any more past March 30, 2010. The likely result is an uptick in rates. Meanwhile, the recovering economy by itself should raise rates as the year goes on. Economists at the Mortgage Bankers Association expect to see a 6.1% rate by year end. Such a rise would add about $104 to the monthly payment on a $150,000 mortgage

-The home buyer tax credit expires on April 30, 2010 and no one knows if Congress will renew it a second time. Expect a clash between the real estate lobby and fiscal conservatives worried about the $1.35 trillion federal deficit. To qualify for the credit, you must sign a purchase contract by April 30, 2010 and close by July 1, 2010. First-time buyers get up to $8,000. “First-time” is defined as someone who hasn’t owned a home in three years. Move-up buyers get up to $6,500 when they purchase a new primary residence. To get the credit, you have to have lived in the old home for at least five out of the last eight years. The credits start phasing out at $125,000 in adjusted gross income for singles and $225,000 for joint filers.

By Jim Gallagher
To read the entire story, visit RISMEDIA

Getaways – 5 Strategies for Happier Family Trips- Feburary 4th, 2010

With spring break and summer vacation on the horizon, now is the time to start planning for quality time together as a family. Here are a few  ideas to get you started.

1. Share your history.
Your children will be out of the nest before you know it. Begin now to share your family history. Whether it’s a visit with your favorite cousins, a tour of your college campus or the scene of your favorite childhood holiday, give your kids a glimpse of the experiences that helped shape the parent you are today. They will thank you later.

2. Share our nation’s history.
Enrich your children’s classroom education with visits to national landmarks, museums and historical points of interest. Each state played an important role in the development of our country. Explore your region’s role in the bigger picture through local resources and expand from there.

3. Get outdoors.
In an era of My Space, Facebook, Guitar Hero and Netflix, take the time to unplug and tune in to nature. There’s plenty of research to support the notion that fresh air and wilderness will soothe the soul of everyone in the family. Camp, hike, bike and explore the countryside. Learn about native flowers, plants, birds and wildlife. Canoe on nearby rivers. Fish local streams. Relax and renew.

4. The family cruise.
If a cruise is on your radar screen, this might be the year to make it happen. A good concept for extended-family getaways, there’s something for everyone aboard a cruise ship. Plus, there’s a cruise line for nearly every budget. With all-inclusive pricing, occasional “kids sail free” promotions and dramatic savings with last-minute bookings, consider a family float on a family-friendly boat.

5. Rent a home or condo.
You’ll have access to a kitchen. Need I say more? For those late-night snacks and early-morning breakfasts, having food stashed in your own refrigerator saves time, money and stress. You’ll also have extra space to better handle naps, early risers or night owls. Plus there’s more room for the whole family’s gear.

To read the entire story, visit RISMEDIA

Cindy's Winter Coat Drive- January 19th, 2010

My heart has been touched by so many events over the past year.  Stories of hope and survival, improbable friendships, and of faith and giving.  There has been a strong message of love and true meaning of sharing what we have with others.

It is my desire and passion to work more closely with Miracle Hill Ministries this year.  Miracle Hill Ministries is a non-profit organization in the upstate of SC dedicated to providing food, shelter and HOPE for those in need.  I want to provide my time, my heart and my energy to those served through this ministry. I truly believe that if we truly love others unconditionally, we can change the not only one life but many around us.  I want to look back on 2010 and feel like I have invested my life by helping others less fortunate than me.

Have you ever wondered whether one life can make a difference to someone else?  I am giving you the opportunity to make a difference in someone else’s life. There are countless families doing without in Spartanburg county.  Many are without food and shelter.  The temperatures are record low this year.  Some homeless are without proper clothing.

My family and I would like for you to search your closets.  We are asking each household to donate two jackets or coats; any size and whether they are children’s, women’s or men’s.  Together with Miracle Hill Ministries, we will be placing yellow plastic bags in your mailbox this week.  Please place these clothing items in the attached plastic bag.  Place the plastic bag by your mailbox.  The bags will be picked up according to the date and time written on the bag.

We appreciate your thoughtfulness and cooperation.  Together, we can change the circumstances of others. 

If you have any questions, please call me at 864-415-4306.

To get involved and make a difference in our community, consider Miracle Hill

The Basics: Extended Home Buyer Tax Credit ~ January 2010

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

• • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

To read the entire story, visit Realtor.org

Buttino Real Estate News Archives