Posts Tagged ‘mortgage information’

$8,000 Real Estate Tax Credit:New Deal ?

Thursday, October 29th, 2009

With Time running out on the existing $8000 first time home buyers tax credit, there seems to be an extension in the works. The new deal would be extended to contracts that are finalized by April 30th 2010 ,  and close by June 30th 2010.This will help buyers ,sellers and Realtors until next spring. The tax credit will make available $6,500 to some existing homeowners who lived in a home for five  years out eight years. The income limits will be raised, so tax credits for both programs will be available individuals who earn up to $125,000, or married couples up to $250,000 currently the limits are $75,000 for single and $150,000 for married, these would be changed.Today the news is it looks like it will be passed. Stay tuned .

Rates Are Down ! Interest Continues To Rise In Brooklyn!

Monday, October 12th, 2009

With all the incentives in this real estate market like the $8000 Tax Credit Rebate on first-time home purchases set to expire Dec. 1  and the Mortgage Credit Certificate plan that allows eligable borrowers to deduct up to 20% of mortgage interest paid from their federal taxes at a dollar for dollar tax credit . First-time buyers  have a real edge on todays real estate market where they constitute  like 40 to 50 percent of the market right now. With prices down from the past few years and the lowest interest rates in years , now is a really  great  time buy real estate .