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IT’S OFFICIAL!!!!…. THE TAX CREDIT HAS BEEN EXTENDED AND EXPANDED Well…almost… (President Obama still has to sign it, which he will) Per Martin Straka, Mortgage Loan Officer with Bank of America: On Thursday afternoon (11/5/090 the House of Representatives voted to pass the legislation extending the Tax Credit and Unemployment Benefits (HR 3548).Homebuyer Tax Credit: […]
Did you know that the Home Buyer Tax Credit can now be used for closing costs with FHA-approved lenders? But “first-time home buyers” only have until December 1, 2009 to purchase their principal residence to take advantage of the credit. The National Association of Realtors (NAR) has a very valuable website: http://www.housingmarketfacts.com/ with easy to understand question and answers […]
Finally, some good news for New Jersey home buyers near the Midtown Direct Train line. In a move to increase credit availability, the Federal Reserve and Federal Home Loan Banks announced that they would purchase up to $600 billion in Mortgage-Backed Securities (MBS), exciting news that sent interest rates for 30-year fixed-rate mortgages plummeting below 6.00% […]
Tuesday, January 22, 2008 Fed Lowered Interest Rates and New Jersey Home Buyers May Benefit Steve Lupton of Metrocities Mortgage Sent Me the Following Alert I Wanted to Share: NEWS ALERT!!!! 1. Today, the Fed lowered both the Fed Funds Rate and the Discount Rate by 75 basis points. This unusually aggressive move is an acknowledgement that […]