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Travis Neliton

Travis' Mortgage Rate update, market news, the tax credit deadline

A quick overview of market action today as well as my thoughts on 2 important topics that are all the buzz right now with the $8000 tax credit about to expire and advertised rates versus realistic rates with extended lock periods due to HVCC and HERA.
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$8000 Home Buyer Tax Credit

A short video to recap the $8000 home buyer tax credit due to expire Nov 30th. The 5 key points in my video will cover; #1 The deadline and what this means. #2 The IRS' broad definition of what a first time home buyer and who does and doesn't qualify for the credit. #3 Understanding that it truly is a credit and not a deduction or loan that needs to be repaid back. #4 How the credit can or cannot be used in reference to closing costs and down payment. #5 How to amend your 2008 taxes to receive the $8000 credit weeks after closing versus waiting until next Spring to file and the forms needed to receive the credit and amendment.

Travis' Mortgage and Financial Market Update for Aug 5th

Reporting on the 3-day decline in mortgage bond pricing causing a jump in rates from last week. Watch the video for the reasons for the jump but it simply comes down to anytime there is positive news for the economy, bonds will suffer. With good pending home sales, lower number of jobs being lost and positive economic news if other global economies, mortgage bonds have been taking a lashing.

Travis' Mortgage and Financial Market Update for July 23rd

It has been a brutal day for mortgage bonds and treasuries, but a great day for stocks with the DOW looking to close above 9000, the NASDAQ nearing 2000 and the S & P close to 1000 as well.