David John Medendorp CCIM GRI CRS

This tax credit can give you a refund in the next 60 day. If you buy a house from me today and have not owned a home in 3 years your 2008 tax return can be amended and you can get a refund in the next 60 days.

Expanded Tax Break Available for 2009 First-Time Homebuyers

IR-2009-14, Feb. 25, 2009

WASHINGTON - The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.

Qualifying taxpayers who buy a home this year before Dec. 1, 2009 can get up to $8,000, or $4,000 for married filing separately.

"For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. "This important change gives qualifying homebuyers cash they do not have to pay back."

The IRS has posted a revised version of Form 5405, First-Time Homebuyer Credit, on IRS.gov. The revised form incorporates provisions from the American Recovery and Reinvestment Act of 2009. The instructions to the revised Form 5405 provide additional information on who can and cannot claim the credit, income limitations and repayment of the credit.

This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000 or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase.

The IRS also alerted taxpayers that the new law does not affect people who purchased a home after April 8, 2008, and on or before Dec. 31, 2008. For these taxpayers who are claiming the credit on their 2008 tax returns, the maximum credit remains 10 percent of the purchase price, up to $7,500, or $3,750 for married individuals filing separately. In addition, the credit for these 2008 purchases must be repaid in 15 equal installments over 15 years, beginning with the 2010 tax year.

Great lakeside home with 3 bedrooms 2 baths.

lakefront, lakeside, charming, beach

See all 7 photos Description
Cottage, 3 Bedrooms, Sleeps 8, 2 Bathrooms Amenities
beach, waterfront, accept credit card, air-conditioning, washing machine, internet access Rates per property (USD) $200 - $300/night
$850 - $1,095/week
$3,200 - $4,000/month

Call David Medendorp

2312063367

www.muskegonvacationrentals.com

www.sellmuskegon.com

<a href="http://www.homeaway.com/vacation-rental/p240963">Muskegon vacation cottage</a>

Muskegon Lakeside vacation home call David Medendorp 2312063367 david@sellmuskegon.com

Muskegon Vacation Rental house

Muskegon Lake and Lake Michigan Outside HOT TUB , Pool Table

Photos and Description of the Muskegon vacation house rental 4 BR 2 BA Sleeps 10 Pack and play availabel The Light house 4 bedroom plus h

The lighthouse 4 bedroom Condo / cottage Home. Across from Lake Muskegon and by the new bike / walking trail that goes around Muskegon Lake at the waters edge. All Year- Muskegon, Michigan vacation rental cottage . It's in a perfect location close to Lake Michigan beach and by Muskegon Lake boat launch park .4 minutes by car 3 miles west to the award-winning beach at Lake Michigan . This -new home has Ceiling fans in all main rooms and nice lake breezes, Air conditioning , furnished, fully-equipped kitchen, linens and towels, and washer and dryer. Pack-N-Play available. Easy cooking on BBQ grill out doors in backyard with 2 stall Garage Catch the breezes or enjoy your favorite beverage on the open front porch. Sleeps 8 in beds, 10 to 12 using the a couch and pack and play. Quick access to Cross Lake Express Ferry dock (Muskegon to Milwaukee) and close to festivals. Movie theater 2 miles away. Para sailing w/ Mac kite.

Channel at Lake Michigan - 3 Miles.	Sunset at Lake Michigan Beach - 3 miles.
Living room with lake view	Bath with Tub
Me and kids in the hot tub in back

895 to 1495 per week. Call David at 2312063367 david@sellmuskegon.com

http://www.sellmuskegon.com

A great time to buy or sell a home under 100,00

Call my friend Rob Garrison if you want to explore your financing options.

Rob Garrison Mortgage Consultant United Financial Mortgage Services Phone: (231)799-2606 x50707 Fax: (231)799-2616 robg@ufms.biz

Great News for First-Time Home Buyers! HUD recently announced that qualified First-Time Home Buyers who want to take advantage of the available tax credit of up to $8,000 now have another option available to them to help them become homeowners. It's clear that first-time home buyers have been having a major impact on the housing market this year. The National Association of Realtors announced that first-time buyers, who typically account for less than 40% of home sales each year, have been especially busy...in March, homes that were purchased by first-timers accounted for 53% of all sales, and this percentage is expected to hold true for all of 2009. With home affordability higher than ever, available tax credits and some of the lowest interest rates ever recorded for home loans, who can blame them? Particularly as a first-time buyer, there may never be a better time to buy a home than right now. However, the availability of a tax credit, while a great incentive, does not put the money in the hands of a buyer right away. HUD's announcement now allows for prospective and qualified home buyers to borrow the money from approved agencies and lenders. While details of participating lenders and HUD-approved agencies are not yet available, this should turn up the heat on prospective buyers to get busy searching for their next home. As further details become available, I will get them to you. In the meantime, alert your database that one more barrier to homeownership is being removed and the time to start shopping is now! Sincerely, Rob Garrison United Financial Mortgage Services (231)799-2606 x50707 robg@ufms.biz

Wow this is great !! This will surly help sell some homes.

Did you buy a house or a condo recently? If you did, it could mean money in your pocket. That's right, if you bought a home last year... you could get a 75-hundred dollar interest-free loan - courtesy of Uncle Sam -- and you have 15 years to pay it back. On the other hand, if you buy a home this year before December the first, you can get a tax credit of up to eight-thousand-dollars either on this year's return or next year's return, and you don't even have to pay it back.

News from NAR - Washington D.C.
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment.

Donovan's remarks came in an address to several thousand REALTORS®, including 130 from Michigan, who are in Washington D.C. this week for the annual REALTORS® Midyear Legislative Meetings & Trade Expo.

Secretary Donovan said that important changes, which the National Association of REALTORS® has been calling for, will help consumers purchase a home. "We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment," Donovan said. According to Donovan, the FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing.

Now would be a great time to buy a home. in Muskegon Michigan.

Call David Medendorp

http://www.sellmuskegon.com

http://www.muskegonforclosures.com