HomeWord

Great News! Congress has passed the Home Buyer Tax Credit extension and President Obama is expected to sign the bill today. Below are two links to more information:Home Buyer Tax Credit ChangesFrequently Asked Questions Regarding ChangesReaders, do you think Congress' decision to extend, and even expand, the tax credit is a ...

Late Wednesday afternoon, the U.S. Senate approved a bill which extends and expands the federal tax credit for home buyers. The bills calls for the first-time home buyer $8,000 tax credit to be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. Existing homeowners ...

The Senate is nearing a compromise that would extend the tax credit for first-time home buyers and expand it to include current homeowners. Who would get the credit and how much could they claim? First-time home buyers would be eligible for up to $8,000 on the tax credit, which is the same as the current credit. The Senate version of the bill ...

Question: Given the boom, then the bust, in real estate, what's the best way to think about my house: as an investment or just a place to live? Answer: Your home may be your most valuable asset. But it's unlikely to deliver bigger gains in the long run than a diversified portfolio of stocks and bonds. And that was true even before real ...

The appraisal process is becoming a major stumbling block for home buyers and sellers.  Realtors® are expressing a variety of concerns:·         Appraisers are being unrealistically overly cautious.·         Some appraisers are using ...

President Barack Obama’s budget includes an $800 million request to fund a government-backed reverse mortgage program through the Federal Housing Administration. At a minimum, the taxpayer subsidy means that costs won’t be rising on reverse mortgages, and that the government plans to make sure there’s still a liquid market for ...

U.S. housing officials are working on a plan that would allow some first-time buyers to purchase homes by paying little money upfront. First-time home buyers would be able to put the $8,000 income tax credit towards their down payment on loans backed by the Federal Housing Administration (FHA.) Right now, home buyers must wait ...

Some economic analysts say that the possibility that the economy will go into overdrive and inflation will skyrocket is a much more frightening possibility than the current recession. One inflation hedge nearly all of them point to is real estate. Owning it outright is the best scenario, but if that’s not possible, a low-rate, 30-year fixed ...

President Obama took time on Thursday to promote mortgage rates that have fallen to new lows. But, in a note from the president’s Council of Economic Advisers, the White House explains that, while the level of loans for home purchases has risen by 19% since the administration rolled out its homeownership plan in mid-February, ...

Nervous lenders have tough new rules and are paperwork crazy. Here's five things to consider before applying for a loan: 1. Down payments are critical. Borrowers should expect to put down at least 10%for a “conforming loan” – a mortgage that Fannie Mae and Freddie Mac will purchase. 2. Credit scores count. A 720 on the ...