Market Stats Report on Condos and Townhomes in Naperville. This will be following the same format as the monthly single family homes report but will focus on this segment of the market. Industry news in recent weeks has included the expansion and extension of the Home Buyer’s Tax Credit
Posts Tagged ‘tax credit’
Home Buyer Tax Credit Extension Update
First of all, the credit has not been extended yet despite all the rumors floating around. Here is the latest information from Washington as well as a projected timeline for further action from www.FixHousingFirst.com: From TheHill.com “…
Naperville Representative Biggert Pushes to Extend Homebuyer Tax Credit
More of DC is jumping on the bandwagon to pass legislation to extend the tax credit. Here is Representative Judy Biggert’s press release detailing her efforts.
Naperville – tax credit time running out
According to current regulations, eligible homeowners who want to take advantage of the up to $8,000 federal tax credit must close their transactions by November 30, 2009. That is about 70 days from now. Or is it……..?
Naperville home buyers – Tax credit as downpayment approved by HUD
Ok folks, the word is out again. HUD Secretary, Shaun Donovan, announced that homebuyer’s will be allowed to apply the $8,000 tax credit towards the purchase cost of a FHA-insured home. The concept was first announced several weeks ago at the NAR mid year convention in DC but was quickly retracted while additional details were worked out.
Update: OMB has asked FHA to hold off on tax credit bridge loan program
Tuesday evening I blogged about the FHA program that would have allowed first time home buyers to use the expected tax credit as a down payment. Apparently, at the request of OMB, FHA has withdrawn Mortgagee Letter 09-15. Hopefully this action is only temporary.
Tax Credit Used for Down Payment
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
Homebuyer Tax Credit Details
The stimulus bill passed by Congress and signed by President Obama offers an incredible opportunity to home buyers. Here are the more of the details:
It is a true tax credit. First time buyers who purchase and close on a home between Jan 1, 2009 and Dec 1, 2009 will receive a credit against their 2009 [...]
