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Since we seem to be in a first-time buyer market, with time remaining to take advantage of the $8,000 tax credit, this seems like a good idea to make sure you understand the Federal Housing Administration’s new requirements for securing FHA loans. In effect since January of this year, they are still essentially “new.” First, let’s [...] For those of you planning on buying your first home and qualifying for the $8000 tax credit from the IRS, here’s some information you need to have. You should already know that to qualify for the tax credit, you must be under contract by April 30 of this year, and closed by June 30. Remember [...] It is now just a formality. Having passed the Senate and House, the bill designed to further stimulate the housing market, and thus the economy in general, is sitting on the President’s desk, awaiting his signature. Once signed, the bill becomes law (remember that from your elementary school lesson on government?). The good news for first-time [...] |
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