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Governor Beshear announces help for first-time home buyers
Many states have set up special programs to help potential first-time home buyers overcome the obstacles in buying their first home. The Kentucky Association of REALTORS would like to inform its members of a special initiative in Kentucky, announced by Governor Steve Beshear yesterday. On April 22, 2009 Governor Steve Beshear announced a special initiative by the Kentucky Housing Corporation to offer up to 4,500 for down payment and closing costs for first-time home buyers who obtain a KHC home loan. The program will begin on May 1, 2009 and continue through Nov. 30, 2009. To view the press release, click here or continue reading the information below. The First Home Advantage Program provides a second mortgage with principal and interest payments deferred until July 1, 2010 for KHC-approved, first-time home buyers. "For many first-time home buyers, the biggest barrier to home ownership is the ability to pay upfront expenses, such as the down payment and closing costs," said Gov. Beshear. "The innovative First Home Advantage Program will not only help qualified Kentucky home buyers overcome this barrier and realize their dream of owning a home, it will hopefully reinvigorate the housing market help get our economy moving in the right direction." The First Home Advantage Program offers a 10-year loan that defers payment with a zero percent interest rate until July 1, 2010. After the initial deferment period, the loan will fully amortize over ten years at the rate of 6 percent. If the borrower pays off the loan before July 1, 2010, KHC will forgive $300 of the principal balance. The American Recovery and Reinvestment Act of 2009, signed into law by President Barack Obama on February 17, 2009, provides first-time home buyers with an $8,000 tax credit. After purchasing their home, home buyers have the opportunity to file for the housing tax credit provided by the stimulus on their 2009 tax returns and use the tax credit for the repayment of the First Home Advantage Program loan to take full advantage of the prepayment incentive. "We want to do everything we can to help Kentucky homeowners purchase their new homes," said Richard L. McQuady, chief executive officer of KHC. "The First Home Advantage Program allows home buyers to take advantage of every opportunity available to them in these difficult times." In order for home buyers to qualify for this program, they must obtain a KHC first mortgage through a KHC-approved lender, be a first-time home buyer, meet KHC income and purchase price guidelines, and have a 620 minimum credit score. To learn more about KHC's homeownership programs, visit their Web site www.kyhousing.org. |
Thanks to Chris Ann Cleland for the idea!
This photo is the property of Ron Spanton, Benton KY. All Rights Reserved. Any use of this photo, including reproduction, modification, distribution or republication, without the prior written consent of Ron Spanton, is strictly prohibited. Permission may be sent to me at ronspanton@remax.net. Photo is only of people, places, things or scenes in Western Kentucky.
This photo is the courtesy of Gary Whittington, Benton KY. All Rights Reserved. Any use of this photo, including reproduction, modification, distribution or republication, without the prior written consent of Gary Whittington, is strictly prohibited. Permission may be sent through me at ronspanton@remax.net. Photo is only of people, places, things or scenes in Western Kentucky.
Well, here in Western Kentucky, Benton is very proud of it's tradition of celebrating Tater Day.
To celebrate Tater Day; we have a Tater Day Parade, Tater Day Flea Market, Tater Day Carnival and even a Tater Day Queen and a Junior Miss Tater!
Stop laughing!.....Come on! Your community probably has it's local celebrations as well and we'll find out about yours soon enough!
Our tradition started around 1843 when people in the community would get together to sell or trade sweet potatoes and sweet potato slips and continues to this day on the first Monday in April each year and ushers in Spring. The activities are so important to the community that our spring break for students coincides with Tater Day. No one would go to school anyway!
Now we all know there are celebrations around the United States and around the world for many different things including milk, cheese, beef, ice, pork and even nostalgia. Remember the squash festival featured in the Doc Hollywood movie? So here's the challenge, lets hear about yours!
Take note however, reportedly this is the only celebration in the United States that celebrates the sweet potato! If anyone out there can dispute this I need to hear about it.
This is how RE/MAX Real Estate Associates in Benton, Kentucky entered the Tater Day parade.
Now let's hear about your festivals!
I recieved a notice from ERBY CROFUTT - B4U CLOSE HOME INSPECTIONS that he would be attending a conference here in Western Kentucky on January 10, 2009 and wanted to know if we wanted to meet in person. You see, I'm a newby here at ActiveRain and my first postings were only listings. Erby was the first one to post a comment to me. He said:
"C'mon Ron. You gotta post something besides listings. Hard for me to retun comments when all you got are listings.
Tell us a good story about Benton!"
Well that was the kick in the butt I needed to try to post something about our local area, Benton, Gilbertsville and the Kentucky Lake area of Western Kentucky. I'm reading with great interest others blogs and comments to come up with ideas and in the meantime I've learned so much more about real estate and even life in general. Who would have thunk? So I think I'm beginning to understand now what it's like to be in the "Rain". This is truly a wonderful community.
Ok, so back to Erby. Erby and I met over supper at Catfish Kitchen and I was blown away by his sincerity and knowledge of the inspection process and it's relationship with the real estate industry. I could tell he takes his business very seriously and therefore conducts a very thorough investigation of the property he has been hired to inspect. But you see, the inspector is also an instructor and teacher and although most of us already know that, I could tell Erby is really good at it. He encourages the buyers to be present through the entire inspection process so nothing is missed - or misunderstood.
If you are purchasing a home in Central Kentucky and the Lexington area please consider talking with Erby.
And if you are a real estate agent or broker in his area I think you will be very pleased with his knowlege and integrity.
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I Specialize in Kentucky Lake waterfront and lake area properties. Having lived on the lake for 12 years and in the community for 25 I'm very familiar with the market. Selling them one yard at a time!
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