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  • Congress Renews Mortgage Debt Relief Act through December 31, 2013

    Underwater Homeowners Breathe a Sigh of Relief as Congress Renews Mortgage Debt Relief Act! On January 1, 2013, Congress passed an extension of the Mortgage Forgiveness Debt Relief Act. This extension of this act, which has saved homeowners more than $1 billion dollars in taxes[1], is great news for struggling homeowners ...
    Posted to Karen Daniel (Weblog) by 650684 on January 3, 2013
  • Congress Extends Mortgage Debt Relief Act!

    On January 1, 2013, as part of the so-called fiscal cliff negotiations, Congress passed an extension of the Mortgage Forgiveness Debt Relief Act. This extension of this act, which has saved homeowners more than $1 billion dollars in taxes, is great news for struggling homeowners nationwide, and for the agents that represent them. The ...
    Posted to Karen Daniel (Weblog) by 650684 on January 2, 2013
  • First-Time Homebuyers Drive Housing Market in March

    First-time homebuyers accounted for a record-high share of purchases last month, according to new data released this week by Campbell Surveys. The results aren’t entirely unexpected, considering the April 30 contract deadline to receive the federal homebuyer tax credit is fast approaching.The momentum from the tax break is likely to continue ...
    Posted to Karen Daniel (Weblog) by 650684 on April 21, 2010
  • HOUSING: Feds suspend anti-flipping rule....GREAT news for investors and buyers!!

    FHA recently announced a temporary (1 yr) relaxation of its "90-day" anti-flipping rule, which prohibits the use of FHA insured financing if the contract for sale was executed within 90 days of the seller's acquisition of the property.  What this rule said is that if an investor purchased a rehab home, remodeled it and ...
    Posted to Karen Daniel (Weblog) by 650684 on January 19, 2010
  • The Housing Environment in 2009...

    Although evidence is accumulating that the economy is emerging from the Great Recession, there are a number of headwinds that may make the nascent recovery slower and more tentative than previous business cycle expansions. Significant job loss is one of the most tangible effects of the recession. Most sectors, with the possible exception of ...
    Posted to Karen Daniel (Weblog) by 650684 on January 14, 2010
  • CHARACTERISTICS OF HOME BUYERS

    In 2009 the First-Time Homebuyer tax credit and affordability conditions brought first-time buyers into the market, and they comprised an unprecedented share of the market - 47%.  Some variables were unaffected by the increase in the share of first-time buyers.  The typical age of buyers was unchanged by the surge in first-time ...
    Posted to Karen Daniel (Weblog) by 650684 on January 13, 2010
  • First-time homebuyer tax credit up to $8,000, along with tax credit for ALL homebuyers up to $6,500.

    Congress giving "ALL" homebuyers a $6,500 tax break, and First Time Homebuyer up to $8,000 tax break.WASHINGTON – Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package ...
    Posted to Karen Daniel (Weblog) by 650684 on November 5, 2009
  • Am I eligible to be claimed as a "First Time Home Buyer"?

    Who is eligible to claim the tax credit? First-time home buyers purchasing any kind of home, new or resale are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the ...
    Posted to Karen Daniel (Weblog) by 650684 on September 16, 2009
  • First-Time Homebuyers 2009 New Tax Credit

    As part of the Treasury Department’s consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal to claim the new $8,000 first-time homebuyer credit for 2009 home purchases. For people who ...
    Posted to Karen Daniel (Weblog) by 650684 on March 21, 2009
  • What is the, "First Time Home Buyer Tax Credit"?

    The Housing and Economic Recovery act of 2008  A new refundable tax credit for individuals who are qualified first-time homebuyers of a principal residence in the United States. The provision applies to a principal residence purchased by the taxpayer on or after April 9, 2008, and before July 1, 2009. Homebuyers who qualify are allowed ...
    Posted to Karen Daniel (Weblog) by 650684 on February 5, 2009