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First time buyer credit extended and expanded until April 30th. 2010

11-07-09
Jorge Muralles Newport RI Real Estate Market
Jorge Muralles Newport RI Real Estate Market: Real Estate Agent in Newport, RI
  • view my blog
  • Office: (401) 855-1335
  • Mobile: (401) 855-1335
Newport Real Estate - Services for today's world - Servicing the entire Rhode Island market!!
Good news for everyone, the United States Congress has approve new legislation that extends the $8.000 first time buyer credit until April 30th. The new legislation also expands the credit to buyers purchasing a home before April 30th. 2010, this credit is in the amount of $6,500 .


Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

  • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream.


Who Qualifies for the Extended Credit?

  • First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
  • Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?

Each home buyer's tax credit is determined by tow additional factors:

  1. The price of the home.
  2. The buyer's income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.

If the Buyer(s)' Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income-over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

REO'S (Bank Owned Property webpage)

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We have helped many property owners before and would love to help you as well. We have real estate consultants with knowledge of the local real estate market. We have bilingual real estate agents, Spanish and English and can provide services in the following areas:
Areas of Expertise

1.) First time buyers

2.) Real Estate investors

3.) Short Sales

4.) Pre foreclosures

5.) Commercial Real Estate sales & rentals

6.) Residential Real Estate Sales & rentals

7.) Real Estate Rentals

8.) Newport timeshares sales & Rentals

9.) Foreclosure prevention

10.) RI real estate market

11.) Newport RI real estate market

12.) Relocation Services

13.) Corporate services: BPO's, asset management, REO management.
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Jorge E. Muralles
Team Leader
Newport Asset Management Group
1 Commercial Wharf Suite B1
Newport RI 02840

401-855-1335

Click Here for more Information

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Valuable Information

11-07-09
Michael Dutra
Michael Dutra: Loan Officer in Providence, RI
  • view my blog
  • Office: (401) 438-0202
  • Mobile: (401) 486-6894
  • Secondary: (401) 490-0173

Hello again,

I am posting this blog today because of two pieces of valuable information I wanted to pass on to you. Firstly, as you are well aware, the mortgage lending world has consisted of mortgage brokers and mortgage lenders for over three decades. Both formats have served the real estate community with distinction. Unfortunately, dramatic changes throughout the mortgage delivery system have severely handicapped the ability of the mortgage broker to execute in a competitive manner. In January of 2010, the restrictions on broker activities will be extended even further. Simply put, mortgage brokers will not be able to effectively deliver in the home purchase market.

Secondly, as a mortgage professional I saw this coming and made the decision to move from a mortgage broker platform to a lender platform in August when I joined Shamrock Financial Corporation. Shamrock foresaw the competitive limitations of being a mortgage broker years ago and transitioned to lender in 2001. The company has been around since 1989, employs 50+ professionals in our new Rumford location. We have direct, in-house FHA/VA/USDA underwriting, processing and closing.

Let me introduce you to some key players on your team:

· Rod Correia: President. Rod leads Shamrock’s day to day operations. He has the skills and authority to move your clients from contract to closing in days instead of weeks.

· Greg Cambio: VP of Underwriting Operations. Greg is one of New England’s most acclaimed and productive underwriters. His 30+ years of underwriting experience and countless designations make him a key person in getting your clients approved and closed.

· Kristen Shapazian: Team Leader. Kristen pre-underwrites your client’s loans and ensures we all are on the same page with information as it becomes available on specific files. She eliminates surprises.

· Shalimar Albanese: Purchase Coordinator. Shalimar is the driving force behind the coordination and marketing of our cooperative efforts with real estate agents. She makes certain we are at the forefront of capturing potential buyers and sellers here in New England. This helps us grow your business, not just close your next deal.

I’m pumped up about the tools Shamrock gives us both as professionals in this ever changing market. I am confident with the support I have in place that there is no better place to help your clients find their way home.

Shamrock Financial “A better life, through a better mortgage”

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ARE YOU HONEST?

11-07-09
Ann Sabbagh
Ann Sabbagh: Loan Officer in Pawtucket, RI
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  • Office: (401) 475-1600 x306
  • Mobile: (508) 243-1190
  • Secondary: (508) 695-1986

"Make yourself an honest man, and then you may be sure that there is one less scoundrel in the world." Thomas Carlyle (1795-1881) Scottish Writer

HONESTY IS THE BEST POLICY ! How often have you heard this? If we all lived by this rule, the world would be such a better place to live! There are those of us who play by the rules and those of use who look for a "work-around". Who are YOU?

Have a GREAT day!

Ann M. Sabbagh

Vice-President

Seacoast Mortgage Corporation

"Where financing is smooth sailing!"

Residential & Commercial Financing

(508) 243-1190

(401 475-1441 (fax)

email: asabbagh@seacoastmortgage.com

website:www.annsabbagh.com

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about your financial strength!"

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AWESOME MUSICAL EXPERIENCE

11-02-09
Kathleen Ann Pacheco-Corbett Realtor® RI-Ma CEBA Master e-Pro ABR ABRM GRI CRS
Kathleen Ann Pacheco-Corbett Realtor® RI-Ma CEBA Master e-Pro ABR ABRM GRI CRS: Real Estate - Other in Providence, RI
  • view my blog
  • Office: (401) 725-5608
  • Mobile: (401) 556-6911
  • Secondary: (401) 617-6278
An AWESOME MUSICAL EXPERIENCE
My follow-up to the Annual Halloween College Concert held at Rhode Island College on Friday, October 30, 2009 at 8:00 pm in the Auditorium in Roberts Hall put on by the Department of Music, Theatre, and Dance and sponsored by the Rhode Island Chapter of the National Association of Music Education was AWESOME.


smurf couple


We, as audience members, were encouraged to dress in the spirit of Halloween since the Performers would appear in costume as they performed their many ensembles. It would be Free Admission if we were in Costume. or pay $10.00 at the door. Mark wore his Indiana Jones, John was Uncle Sam and I was a Mardi Gras lady.

pumpkin girl


The show began with all the performers in costume lined up to the left and to the right of the auditorium, The house lights were turns way down, practically pitched black to give the eerie setting. These were many chorus members, conducted by conductor, Teresa Coffman, chanting in Soprano, Alto, Tenor and Bass to a piece called "Past Life Melodies".

alien couple


The performance had many different ensembles being spotlighted
to the left of the stage, to the right of the stage, beneath the stage and on stage. The audience never knew where the light would shine and what instrument or chorus members would performing.

pink lady

blueman

There were the Concerto for Seven trumpets, the suite for two Pianos, "Lush Life by the 4 saxaphones, the Guitar Ensemble, Brass Ensemble, Clarinet Quartet, Concert Jazz Band. There were some humorous songs "Chili Con Carne", In the Still of the Night, the Chicken and others.

princess + monster

bat collar

We enjoyed all the many unique costumes, but there was an unexpected "Fabulous Surprise" when we met past clients of ours that purchased a house in Lincoln in the late seventies, Rita and Frank St Pierre.

Rita + Frank St Pierre

They told us the house was totally changed so much we would never recognize it. They invited us to stop by. We talked about our children who now had their own children. It completed the night. What a fun night!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~``

Copyright photo by Kathleen Ann Pacheco-Corbett, all rights reserved and may not be reproduced without the written permission of Kathleen Ann Pacheco-Corbett, The Buyer's Choice, Lincoln, RI. Permission granted with a link back to my website and/or blog providing site is appropriate for all ages.

Thank you. We want to be your "Personal Realtors for Life"Kathleen Ann Pacheco-Corbett

http://www.thebuyerschoice.com

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KATHLEEN ANN PACHECO-CORBETT

Office 401-725-5608 Cell 401-556-6911 Fax 401-423-4377

******************

POSTINGS FOR October 2009

10/31/2009 SINCE 2004 the Halloween costumes tradition begins

10/29/2009 Days are shorter. nights are longer and cooler

10/29/2009 All Hallows Even

10/28/2009 Re-blogged: Should your life stop just because you're buying a home? In short... YES! (original)

10/26/2009 FREE grilled chicken offer is available all day Monday 10-26-09

10/23/2009 Boo Bash and other RI Halloween free events

10/23/2009 Friday Foto - Who is in this vintage photo?

10/17/2009 SPEECHLESS SUNDAY - Halloween for all ages

10/01/2009 Friday Foto - What am I?

POSTINGS FOR September 2009

09/12/2009 We can't cry hard enough

09/06/2009 SPEECHLESS SUNDAY - 9-6-09 North Providence Salvatore Mancini Union Library

09/04/2009 Friday Foto - What is my job?

9/04/09 Re-blogged: $8,000 Tax Credit October 16th Safe Deadline for Financing (original)

POSTINGS FOR August 2009

08/26/09 Wordless Wednesday - OAK BLUFFS FUN 7-14-09

08/23/09 SPEECHLESS SUNDAY 8-1-76 Five Years Old - the past and present

08/22/09 SPEECHLESS SUNDAY -Brotherly Love

08/21/09 Friday Foto - What am I? Where am I?

08/21/09 Friday Foto - What am I? and Where am I?

08/18/09 Emotional Roller Coaster - PLEASE GET ME OFF

08/14/09 Friday Foto - What am I?

08/13/09 NATURE and MARKETING CONTEST - RAIN is our buddy

08/09/09 SPEECHLESS SUNDAY -Gingerbread Cottage

08/09/09 SPEECHLESS SUNDAY - OAK BLUFFS leaving campgrounds looking at Pier

08/07/09 Friday Foto - What am I? and Where am I?

08/06/09 Another Achievment, another Milestone with Active Rain

08/04/09 My Childhood home in East Providence, RI 02914

08/04/09 Comment left on my Viral Request blog results in action action action

08/04/09 A week going by SADLY

08/02/09 Speechless Sunday August 2, 2009-Lion for August -Leo

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I HAVE A QUESTION !

11-01-09
Ann Sabbagh
Ann Sabbagh: Loan Officer in Pawtucket, RI
  • view my blog
  • Office: (401) 475-1600 x306
  • Mobile: (508) 243-1190
  • Secondary: (508) 695-1986

I have a question:

Can someone explain the use of Twitter for business purposes? Aside from letting the world know I may not be available for the next hour or so, what purpose does it serve? I signed up, but have yet to use it. I just think if someone wants to reach me, they will call me and then leave a message if I do not answer the phone. They do not care where I am.

What are your thoughts on Twitter? Thank you for your responses!

Ann Sabbagh

Vice-President

Seacoast Mortgage Corporation

Residential and Commercial Financing

508-243-1190

Please visit my website: www.annsabbagh.com

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about your financial strength."

2 Comments