Helping you into your new home
Starting in 2009, President Barack Obama’s stimulus package has offered generous benefits to first-time home buyers. The credit provided up to 10% of the home’s purchase price back as tax credit, with a hefty cap of $8,000. The qualifications for the credit were simple: Read more…
Posted on July 13th, 2010 by admin
Filed under: Qualifications | Comments Off
On June 23, a new round in the fight against foreclosure began for five states, including Arizona, California, Florida, Michigan, and Nevada. That was the day on which a $1.5 billion “Hardest Hit Fund” was approved for State Housing Finance Agencies in those areas. Read more…
Posted on July 13th, 2010 by admin
Filed under: Latest News | Comments Off
The federal government will never charge you for information on how to help avoid foreclosure. However, there are scammers out there who will—and they could prove even more dangerous than that. If someone says they guarantee being able to “save” your home or grant you a lower mortgage for a fee, or if they claim to have direct contact with your mortgage servicer, there is a strong chance that they are involved in a scam. The only official federal assistance can be reached at the Homeowner’s HOPE Hotline at 1-888-995-HOPE. Read more…
Posted on July 13th, 2010 by admin
Filed under: Scams | Comments Off
There has never been a better time to look into purchasing your first home. After May showed a large decline in the sales of new and existing homes, legislators pushed forward a new bill that would extend the deadline for the tax credit from June 30 to September 30—a full three months extra. The bill continues to provide an $8,000 tax credit for first-time buyers, and $6,500 for existing home buyers. The bill was passed into law unanimously with no changes. Read more…
Posted on July 13th, 2010 by admin
Filed under: Latest News | Comments Off
Having enough cash on hand to qualify for a lower mortgage rate is an important consideration for buyers purchasing their first home. While some acquire money from relatives, even this does not provide access to all home loan programs. Another option is to use a mortgage assistance grant program, which offers cash money paid and used for a specific purchase. Some people who often take advantage of grants are scientists conducting research and teachers setting up education programs, but government agencies also often offer grants to first-time buyers. This is a great opportunity for buyers who are otherwise hesitant to enter the housing market, and also serves as a way to finance mortgage loans and down payments. Read more…
Posted on July 13th, 2010 by admin
Filed under: Grants | Comments Off