By STEPHEN OHLEMACHERThe Associated Press Wednesday, October 28, 2009; 8:00 PM WASHINGTON -- Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers. The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November. The Commerce Department said Wednesday that new home sales fell 3.6 percent in September, and some industry representatives blamed uncertainty about the tax cred... Read Full Story
SALT LAKE CITY (AP) -- Utah Gov. Gary Herbert says he'll use $8 million in federal stimulus funds to help kick start the state's sluggish housing market. Herbert's office released a statement Friday saying that the state will offer $4,000 grants to 2,000 home buyers. The program comes on the heels of one started by former Gov. Jon Huntsman, who used $10 million in stimulus funds offer $6,000 grants. The state awarded those 1,600 grants in less than 12 weeks earlier this year. The Utah Housing... Read Full Story
Velocity of money concept is not difficult. In simple terms: when you buy milk, the owner of grocery storee takes the profit and buys a couch, then the furniture store owner buys something else, etc. So, the same money passes through the economy over and over again, triggering growth, jobsa, & inflation. The latest Retail Sales Report shows the velocity of money effect has been stagnant...meaning thatgrocery store owner is not running out to buy a couch with his profit. Once consumer spending... Read Full Story
Fannie Mae HOMEPATH Loan - Minimum 660 middle FICO score required- Appraisals are NOT required- Great for first time homeowners AND Investors- 97% LTV Primary Residence- 90% LTV Investor (5 plus properties financed limited to 75% LTV)- No monthly Mortgage Insurance payments- Owner Occupied AND Investment Property- Down payment can be 100% gifted- Property must be listed for sale with the Fannie Mae HOMEPATH program- NO declining market restrictionsFederal Housing Administration Loans - OK to ... Read Full Story
Real estate agent Michael Maher joined FOX 4 Wednesday morning to clarify the most common misconceptions about the federal government's tax credit for first time home buyers: 1. It's only for people who've never bought a home. False! If you sold a home in the past and rented for the last three years, you may qualify. 2.It has to be paid back. False, this is a tax credit. You will receive a check from the federal government four to six weeks after you complete the form at the closing of your h... Read Full Story
1PRESS RELEASEAugust 5, 2009TAYLOR BEAN MUST CEASE ALL ORIGINATIONOPERATIONS EFFECTIVE IMMEDIATETLYOCALA, FLORIDA – TAYLOR, BEAN & WHITAKER MORTGAGE CORP. (“TBW”) RECEIVEDNOTIFICATION ON AUGUST 4, 2009 FROM THE U.S DEPARTMENT OF HOUSING AND URBANDEVELOPMENT, FREDDIE MAC AND GINNIE MAE (THE “AGENCIES”) THAT IT WAS BEINGTERMINATED AND/OR SUSPENDED AS AN APPROVED SELLER AND/OR SERVICER FOR EACH OF THOSERESPECTIVE FEDERAL AGENCIES. TBW HAS UNSUCCESSFULLY SOUGHT TO HAVE THETERMINATION/SUSPENSION D... Read Full Story
The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today's announcement details FHA's rules allowing state Housing Finance Agencies and certain non-profits to "monetize" up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their do... Read Full Story
Three Mortgage Comparison calculators - and what they are best for:1. Zillow.comBest for vetting lenders and brokers. You an sort rate quotes based on user reviews.The catch is that quotes are posted to your online account, so the rates may be out of date after a few days.2. Mortgage-Marvel.comBest for finding the most current rates. The site updates them in real time.The catch is that the quote tool does not let you input your income. If yours is too low for the loan you want, you may have t... Read Full Story
In today's economy, the referrals of friends are especially important; if you are looking to do some home repairs and/or remodeling, please look no further. I strongly recommend you to use my father's services: electrical, plumbing, carpentry, tile, etc. Believe me he can do ANYTHING. Even though his business (A Bit of Help) is primarily based in Las Vegas, NV; he occasionally comes here. You can discuss your needs over the phone and even get the estimate. In today's economy, the ... Read Full Story
Short Sale for Sellers: Let's say you have to relocate, my your home value fallen nearly $100,000, and you have to get rid of your home - the question is foreclosure or short-sale?A short sale, in which you negotiate with the bank to sell your home for less than you owe on your mortgage will have a dramatically negative effect on your credit. A consumer who has been through a short sale could see a drop in his/her credit score of up to 200 points, essentially the same decrease as if the h... Read Full Story
