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FHA to Allow First Time Buyers Credity Advance
The first-time homebuyer tax credit just keeps getting better. The credit was increased to $8,000 this year and no longer has to be paid back. Now HUD has said that it will allow the credit to be advanced to FHA purchasers for use toward a downpayment Read More...
Posted 03 June 09 08:34 by Robert Buckman | 0 Comments   
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Borrowers with Second Liens May Get Help
T he Treasury Department has announced an expansion of its Making Home Affordable Program aimed at encouraging loan modifications for struggling homeowners with second liens. The original version of the program did not address situations where homeowners Read More...
Posted 03 June 09 08:31 by Robert Buckman | 0 Comments   
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Should You Pay Down Your Mortgage
I n the old days (much of the last century), many people stayed in their homes for 30+ years, long enough to pay off their mortgages and live mortgage-free ever after. In the more recent past, mortgages became transient instruments, remaining in existence Read More...
Posted 28 February 09 06:19 by Robert Buckman | 0 Comments   
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The Spring Housing Market Outlook
T he spring housing market is usually greeted with eagerness and enthusiasm by home sellers and buyers, Realtors and mortgage professionals. This year, though, it is being met with, well…hope. While there are still plenty of negatives, a sour economy Read More...
Posted 28 February 09 06:06 by Robert Buckman | 1 Comments   
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Outlook for Spring
T he spring housing market is usually greeted with eagerness and enthusiasm by home sellers and buyers, Realtors and mortgage professionals. This year, though, it is being met with, well…hope. While there are still plenty of negatives, a sour economy Read More...
Posted 28 February 09 06:06 by Robert Buckman | 0 Comments   
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Look For New Mortgage Disclosure Rollout
H omebuyers will soon have improved mortgage disclosures to help with their decision-making, the result of Real Estate Settlement Procedures Act rules finalized by the Department of Housing and Urban Development in November. Although the new disclosures Read More...
Posted 06 January 09 12:02 by Robert Buckman | 0 Comments   
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The Housing Watch List for 2009
T here are a few trends /issues to which we think you should pay particular attention this year. Builders require extra due diligence. In November, homebuilders started the fewest number of new homes since 1959. That’s tough for builders, but good Read More...
Posted 06 January 09 11:56 by Robert Buckman | 0 Comments   
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Loan Modification Dilemma
H omeowners who have fallen behind on their mortgage payments or who are poised to do so in 2009 will find that mortgage lenders are more willing to try to keep them in their homes and avoid foreclosure than in previous years. Lenders have learned a lot, Read More...
Posted 06 January 09 11:43 by Robert Buckman | 0 Comments   
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2009 Housing Market Preview
W i ll 2009 be the year that we finally see an end to the slide in home prices and the start of a rebound? Some market watchers think so. Of course, recent spells of optimism about the housing market have proven premature and that could be the case again. Read More...
Posted 06 January 09 11:21 by Robert Buckman | 0 Comments   
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Credit?
F irst-time homebuyers have another reason to think about buying a home in 2009 , a federal income tax credit of up to $7,500. The credit is 10% of the cost of a home, so a house costing $75,000 will qualify for a full credit. The credit is refundable, Read More...
Posted 01 December 08 10:47 by Robert Buckman | 0 Comments   
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FIRST-TIME HOMEBUYERS GUIDE FOR 2009
T he first-time homebuyer in 2009 will have a tricky real estate environment facing them, but negotiating the challenges ahead could prove rewarding. On the positive side, home inventories remain high, so the first-time buyer will have a wide selection Read More...
Posted 01 December 08 10:27 by Robert Buckman | 0 Comments   
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EXPIRING TAX PROVISIONS ARE EXTENDED IN RESCUE BILL
S everal important tax provisions were extended in the financial rescue bill, to some extent to help line up crucial votes for the package. These have been continued on an annual basis for several years now in Congress’ version of the two-minute Read More...
Posted 04 November 08 08:26 by Robert Buckman | 0 Comments   
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REAL ESTATE AND TAX PLANNING ISSUES
R eal estate is the subject of a number of tax planning opportunities or issues that taxpayers need to be aware of. Opportunity : Flex your mortgage payment. Your mortgage payment for January 2009 actually reflects interest accrued for December 2008. Read More...
Posted 04 November 08 08:23 by Robert Buckman | 0 Comments   
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2008 YEAR-END TAX PLANNING GUIDE
T ypically, Congress has dragged its feet on passing extensions of crucial tax provisions expiring at the end of the year. Most vital these days is one needed to keep tens of millions of Americans from taking a hit from the alternative minimum tax. This Read More...
Posted 04 November 08 08:17 by Robert Buckman | 0 Comments   
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Housing and Economic Recovery Act
T he recently enacted Housing and Economic Recovery Act will do a number of positive things for the housing market (and a couple that are not so positive). One of the most significant is the $7,500 (maximum) homebuyer tax credit, which we discuss in detail Read More...
Posted 31 August 08 05:25 by Robert Buckman | 0 Comments   
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