Friday Funny Video
August 8, 2008 by Bob Schenkenberger · Leave a Comment
Here is another of the Metro Brokers commercials. These are very funny! Metro Brokers – True Love from Chris Rock on Vimeo
Digesting the 2008 Housing Recovery Act
August 4, 2008 by Bob Schenkenberger · 2 Comments
I just received a great comment on my last article outlining the 2008 Housing and Economic Recovery Act. There is one big change that effects Seller’s and the amount of capital Gains Tax they may have to pay. Buried deep on page 690 of the 694 page law is an important change to the Capital [...]
Get Your $7500 Tax Credit!
August 1, 2008 by Bob Schenkenberger · 2 Comments
The Housing and Economic Recovery Act of 2008, includes many positives for homebuyer’s. None greater than the $7500 in Tax Credits for First Time Buyer’s. Here’s the Lowdown. Any property, including condo’s and co-op’s, that will be used as a principal residence are eligible. Tax liability for the year of purchase is reduced by 10% [...]
FHA Seller Funded Down Payment Assistance Going Away
August 1, 2008 by Bob Schenkenberger · 15 Comments
The housing bill that was signed this week included two major changes for FHA lending guidelines. The changes are scheduled to kick in on October 1, 2008. The first change is the minimum down payment requirement. Currently FHA loans require 3% down. On a $200,000 purchase this would be $6,000. The housing bill will increase this minimum [...]