Lease-Purchases on the Rise: An article from Realtor Magazine Online examines lease-purchase agreements as an option for buyers without enough money to purchase a home. Typically the terms include a lease and an option to buy with part of the rent going toward down payment. After a specified time frame, the buyer would amass enough money to purchase the home. Real-estate agents can charge a rental commission for the lease arrangement and get a sales commission if the purchase option is executed.
http://www.realtor.org/RMODaily.nsf/pages/News2009072103
Call me now! 719-648-1288
Nicole Tussey
A Real Estate Professional
"Committed To Your Journey Home"
www.NicoleTusseyHomes.net
NDBT1953@MSN.COM
Nicole@AcquireHomes.com
Acquire Homes, Inc
6189 Lehman Dr. Suite 201
Colorado Springs Co. 80918
719-749-2680 Hm office & Fax
719-648-1288 cell
I love referrals!
A Real Estate Professional
"Committed To Your Journey Home"
www.NicoleTusseyHomes.net Nicole@acquirehomes.com
719-648-1288
How to Tap an IRA for a Home Purchase
If you're considering buying your first house, making your purchase sooner rather than later could save you thousands of dollars with the $8,000 tax credit refund. Another interesting option is tapping into your IRA, up to $10,000 penalty-free.
Question?
I am going to buy my first house this month and will withdraw some money from my IRA to make the down payment. I'm not 59½, but I understand that I can avoid the early-withdrawal penalty because the money will be used to buy my first home. What is the rule about using IRA money for a home purchase, and what proof do I need to provide at tax time to show that the withdrawal was for that reason?
Answer
If you have a traditional IRA, you normally would have to pay a 10% penalty on any distribution before you turn 59½ (except to the extent that any of the withdrawal could be attributed to nondeductible contributions). However, you can withdraw up to $10,000 penalty-free over your lifetime to buy or build a first home for yourself, your spouse, your kids, your grandchildren or even your parents. If you're married, your spouse can also withdraw up to $10,000 from his or her IRA penalty-free toward the purchase. The withdrawal will still be taxed in your top tax bracket.
To qualify for the exception, the money must be used to buy or build the home within 120 days of the withdrawal. The definition of "first-time homebuyer" is quite broad: It means a person who hasn't owned a home for the past two years.
By Kimberly Lankford, Contributing Editor, Kiplinger's Personal Finance
July 13, 2009
I love referrals,
Nicole Tussey, Serving God and Clients
"Committed to Your Journey Home"
Acquire Homes, Inc
6189 Lehman Dr. Suite 201
Colorado Springs Co. 80918
719-648-1288 cell
719-749-2680 Hm office
A Real Estate Professional
"Committed To Your Journey Home"
www.NicoleTusseyHomes.net Nicole@acquirehomes.com
719-648-1288
First Time Home Buyer Seminar
Free
Sunday July 19th 3 to 4 pm
6189 Lehman Dr suite 201
Get the Facts!
•· $8,000 Tax Credit Refund( Expires 12/01/2009 )
•· Benefits of Home Ownership
•· The Home Buying Process
•· Lenders, Realtors, Credit Repair Consultant, Home Insurance Agent, present to answer questions.
•· Free onsite credit report available
To register: Call or email Nicole 719-648-1288
Nicole@acquirehomes.com or NDBT1953@msn.com
Please, share this information with Renters, so they can find out the facts and take advantage of the Stimulus package. There's never been a better time to buy than now!
Buyers, take advantage of the Federal Tax Credit Program by using CHFA( Colorado Housing and Finance Authority) JumpStart for your down payment. Repay this 0% second mortgage when you get your Tax credit refund.
For more information
click on CHFA link http://www.chfainfo.com/documents/CHFA_JS_overview.pdf
Time is running out !
Nicole Tussey Acquire Homes, Inc
A Real Estate Professional
"Committed To Your Journey Home"
www.NicoleTusseyHomes.net Nicole@acquirehomes.com
NDBT1953@MSN.COM 719-648-1288 cell
Great news!!! First Time Home Buyers will be able to use their tax credit refund in conjuction by working with CHFA (Colorado Housing Finance Authority) to access the money they need to buy a home today. This offer will allow you to use your dollars now to pay the down payment and closing costs . A small second mortgage will be offered with 0% interest rate and no payment due through June 30th 2010. ( gives you plenty of time to get your refund to pay back 2nd mortgage ) Wow!
Don't miss out! Tax credit refund expires 12/01/2009
www.federalhousingtaxcredit.com
www.nicoletusseyhomes.com/idx/search/results.html
I am a Real Estate Professional...."committed to Your journey Home" www.nicoletusseyhomes.net 719-648-1288
I am A diligent Real Estate Professional that is knowledgeable with the market and committed to assisting you in Your Journey Home.
"....Committed To your Journey Home"
I offer a service that is knowledgeable and determined in finding you that perfect Home
I find, helping and guiding the First Time Home Buyers are both rewarding and worthwhile.
If you are a first time home buyer, take advantage of this Housing Market of Foreclosures, Great Deals and the $8,000.00 Tax Credit Refund.
To qualify for tax refund: 1. you must be a first time home Buyer. Or not have owned a home in the last 3 years.
2. combined income of $150,000. max. ($75K max. for one)
3. stay in your home for the next 3 years.
First-time purchasers get a tax credit windfall if they buy before December 2009.
I'll walk you thru the process and get you connected with good lenders.
Nicole Tussey A Real Estate Professional...."committed to Your Journey Home"
Tim Patrick: first time home buyer has endorsed my work as a Real Estate Professional with Acquire Homes, Inc.
Dear Nicole Diane,
I've written this recommendation of your work to share with other LinkedIn users.
Details of the Recommendation: "Nicole helped my family find our dream home and once we did, she worked tirelessly to ensure that we got the most favorable terms from loan initiation all the way to contract signing - she coordinated loan officers, engaged in extensive "shuttle bargaining", and structured extremely favorable terms for our Purchase and Sale Agreement. By the time we closed on our house, Nicole was not just an agent but a family member!"
Service Category: Real Estate Agent
Year first hired: 2008
Top Qualities: Great Results, Personable, High Integrity
LinkedIn Recommendations
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A Thank you card from Israel and Susie Valdovinos., First time home buyers:
We wanted to thank you so much for helping find our new home. We had a wonderful time meeting wiht you and getting to know you. We will definetely recommned you to whoever we come across. Thank you so much for going through this journey with us.
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A recommendation from: I am a senior citizen who was looking to buy a decent Condo for a good price. I found Nicole Tussey of Acquire Homes advertized in the LIFE AFTER 50 Newspaper. Nicole was wonderful. She would pick me up and take me anywhere I wanted to go to look at possibilities. Her service was very personal.
We found a Condo for me, but on the day of closing, at our final walk-through, I slipped on a rock and fractured my ankle. That was not the end of it. Nicole took me to me hospital and then to my apartment on the 3rd floor where I was on bed rest for 6 weeks. Nicole would come by and get my mail for me, she would shop for groceries and bring them up the 3 flights of stairs etc. She even would come and take me to follow up doctor visits. While I was laid up, Nicole took charge and acted as a General Contractor for the preparation of my new home. It was a foreclosure. She hired Painters, arranged the installation of new carpet, and even cleaned the Condo herself in preparation of my move in.
Nicole is a selfless servant who definitely goes that extra mile in service and always with a smile on her face. I would definitely recommend her as a Realtor and she would be my first choice if I ever needed to sell or buy another home.
Thank you Nicole
T. Oslund
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