Tag Archive | "president-obama"
Here’s what the Obama refinance plan might look like soon.
President Obama last week addressed the nation on ways to stimulate the economy and didn’t say all that much about his new refinance program designed to help homeowners avoid foreclosure, other than we’re workin’ on it! He hopes to reveal the complete plan over the next few weeks. However, our crack staff here did some snooping and uncovered
Continue reading...In the News: Pell Grant Funding
Thursday, May 12, 2011
It may have come to your attention that because of the federal defecit, legislation was in the works to cut funding for federal Pell Grants. When the Full-Year Continuing Appropriations Act was signed by President Obama, Pell Grants were among the programs to receive cuts, but luckily, not to the extent of other departments.
Continue reading...Tax credit still available for qualified military homebuyers in Rhode Island.
Wednesday, February 16, 2011
  Back in November of 2009, President Obama signed into law the the Worker, Home Ownership, and Business Assistance Act of 2009. Included in this law was a special provision for qualified service members, members of the Foreign Service of the U.S., or an employee of the intelligence community. Also included are military members on official extended
Continue reading...Delaware FHA Monthly Mortgage Insurance Increasing April 18th
Wednesday, February 16, 2011
Delaware FHA Monthly Morgage Insurance is being increased by HUD on April 18th by a 0.25%.  HUD made the annoucement with the release of mortgage letter 11-10. The current monthly mortgage insurance is calculated using the annual premium which is currently 0.9% for 30 year Delaware FHA loans that have a loan-to-value (LTV) of 95% or
Continue reading...Congress Extends Home Buyer Tax Credit till September 30, 2010
Thursday, July 1, 2010
The United State Congress has passed HR 5623 title the Homebuyer Assistance and Improvement Act on June 30, 2010. The bill is being sent to President Obama to sign into law. The bill is retroactive to June 30, 2010 from date the President signs the bill. The bill extends the deadline for home buyers who are
Continue reading...$8,000 first-time home buyer tax credit available in Rhode Island, but time is running out!
Tuesday, March 2, 2010
First-time home buyers looking to purchase a home in Rhode Island, are eligible for up to 10% of the home’s purchase price, up to the maximum $8,000 tax credit just for buying a home. The latest stimulus package signed by President Obama makes these credits available to first-time home buyers on homes purchased between January 1,
Continue reading...Tax credit available for Rhode Islanders looking to purchase a home.
Monday, November 9, 2009
On Friday, November 6, 2009, President Obama signed the Worker, Homeownership and Business Assistance Act of 2009, commonly known as H.R. 3548, extending the $8,000 tax credit to first-time homebuyers. What residents of Rhode Island might not know, is that you do not be a first-time homebuyer to get the tax credit. Under H.R
Continue reading...Massachusetts First-Time Home Buyer Credit Extended & Expanded
Saturday, November 7, 2009
Good news for Massachusetts first-time home buyers arrived this Friday, November 6th, when President Obama signed into law legislation extending and expanding the Federal Housing tax credit. The tax credit is now not only for MA first-time home buyers, but for qualified MA repeat home buyers as well. The new law also raises the income limits under which Massachusetts home buyers can qualify for the credit
Continue reading...The Extension and Expansion of the First Time Home Buyer Tax Credit Is Good for Arizona
Friday, November 6, 2009
This morning, President Barack Obama signed into law H.R. 3548 bill, The Unemployment Compensation Extension Act that includes the extension, modification and expansion of the first time home buyer tax credit.
Continue reading...The Scoop on the California First Time and Move-up Home Buyer Tax Credit: The $8,000 Extension and $6,500 Expansion
Friday, November 6, 2009
After weeks of reporters jumping the gun and claiming several different versions of the First Time Home Buyer extension/expansion program had already been approved, we now have a finalized bill signed into law by President Obama on November 6, 2009. Not only has the original $8,000 First Time Homebuyer Tax Credit been extended through to April 30, 2010, but existing California home owners who purchase again (move-up buyers), who qualify, will get their pockets stuffed with $6,500 cash when they purchase a home. Move-up buyers will not be required to sell their existing home to qualify for the credit. To receive a Priority Buyer Status Approval from a Professional Loan Officer on a California No Down Payment Home Loan , FHA ½% Down Payment Home Loan , or a traditional FHA 3.5% Down Payment Mortgage , call me at (951) 332-7864 or complete a quick loan application on my website @ www.9651MortgageCoach.com .   What I’m most excited about is that California’s Military personnel who are or were deployed overseas for a minimum of 90 days in 2008 or 2009, will have until April 30, 2011 to claim the tax credit. This is a great additional benefit for our Military personnel who live in San Diego, Riverside, San Bernardino, Orange, and Los Angeles Counties. Here are Highlights and/or Changes of the New Tax Credit Legislation:  • The home buyer tax credit expansion of $6,500 for existing California homeowners is available to those who have lived in their current residence for a consecutive five-year period • The new bill also raises the qualifying income limits to $125,000 for single taxpayers and $225,000 for joint taxpayers, from the current $75,000 and $150,000 • The maximum allowed home purchase price is $800,000 • A home buyer must have an executed sale agreement in hand by April 30 and close escrow by June 30, 2010 • Anyone who collects either tax credit and sells the home within three years of buying must return the refund • Buyers can’t purchase the home from a parent, spouse, or child • Buyers can’t purchase the home from an entity in which they’re a majority owner • Buyers can’t acquire the home by gift or inheritance • All parties to the purchase must meet eligibility requirements • The credit is 10 percent of the purchase price of the home, with a maximum available credit of $8,000 for either a single taxpayer or a married couple filing a joint return, but only half of that amount for married persons filing separate returns And remember, the First-Time Home Buyer program grants a tax credit as opposed to a deduction. This means that a tax filer will receive an actual check from the IRS/U.S. Treasury for $8,000 if he eligible for all $8,000 available under the new law.
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Friday, September 16, 2011
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