I have written on several occasions about the ability to use retirement funds to purchase real estate.
There is a window of opportunity to convert IRA funds into Roth IRA funds and spread the tax impact out over two years.
As you probably know, for “regular” IRAs, before-tax funds are placed in an IRA where it grows tax free […]
Entries Tagged as 'Pending Legislation'
Additional opportunity to use Retirement Funds to buy real estate
March 1st, 2010 · No Comments
Tags: Use retirement funds to buy real estate · Pending Legislation · Investment Real Estate · Helpful Sites
Do any of these government mortgage relief programs work?
April 1st, 2009 · 1 Comment
I have generally been pretty skeptical about whether any of these much talk-about government programs will actually help any homeowners? Are these programs just more of the “promise a lot, deliver a little” that we seem to get out of Washington DC the past 10 years or will they actually help people.
I like to stay […]
Tags: Short Sales · Foreclosures · First-time home buyers · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
Obama Home Mortgage Rescue Plan part 6
March 23rd, 2009 · No Comments
One of the things President Obama promised was greater use of the internet to make information about government programs and activites more accessible to the general public.
The MakingHomeAffordable website is now up and runnning.
This is a very useful site which will help homeowners determine if they are eligible for either the refinance plan or the […]
Tags: Short Sales · Foreclosures · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
Full details on CA Franchise Tax Board $10K credit for NEW home purchase
March 6th, 2009 · 1 Comment
Here is all the info you want about this credit directly from the proverbial horse’s mouth - The California State Franchise Tax Board including how much of the money is left and how many applications they have received - 173 to date!
http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml
Tags: Pending Legislation · Credit Information · Helpful Sites · Inspiration
First-time home buyer tax credit form
March 5th, 2009 · No Comments
If you are a first-time home buyer (defined as someone who has not owned a home in three years), here is the tax form you need to file along with instructions as to how to do so.
It is fairly straight forward.
Tags: Pending Legislation · Helpful Sites
Obama Home Mortgage Rescue Plan part 5
March 4th, 2009 · No Comments
Obama’s plan contains 2 main parts:
1. Refinance options for loans that are up to 105% of the current market value of the home.
2. Loan modifcation programs for people where option #1 does not apply and they are having a hard time making the monthly payments.
Obama has named the plan #1 - Making Homes Affordable.
Katie Curmutte, […]
Tags: Short Sales · Foreclosures · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
Looking to take advantage of the CA $10,000 tax credit
March 4th, 2009 · No Comments
The $10,000 CA tax credit applies to NEW construction (never lived in properties) purchased as a primary residence.
There are several new condo/townhomes projects right now in Palo Alto and Los Altos and a soon to be released project in San Carlos.
Marrian Bennett Half Moon Bay Coldwell Banker has provided a list of new homes in the […]
Tags: Pending Legislation · Cool Listings · Helpful Sites · Inspiration
More info on new California $10,000 tax credit
March 2nd, 2009 · 1 Comment
In an earlier post, i wrote about a recently passed California State Franchise Tax Board $10,000 credit for the purchase of a NEW principal residence. This credit is available to all purchasers of a NEW house or condominium.
Kappy Mann from beautiful Truckee Lake Tahoe area (where I will be going for a week of skiing […]
Tags: Pending Legislation · Credit Information · Helpful Sites · Real Estate Finance · Inspiration
Regulations and Forms available for $8000 first time home buyer credit
March 2nd, 2009 · No Comments
Diane Tuman of Zillow provides all the latest info on this credit.
I have recently represented a young first-time home buyer who got into contract on an REO prior to the passage of the stumulus package but they closed after the package becoming law so they will receive the $8,000 credit. That was an unexpected and […]
Tags: Pending Legislation · Foreclosures · Credit Information · Real Estate Finance · Real Estate Data · Inspiration
Jackie Speier proposers to raise Obama refi limit from $417,000 to $729,500
February 27th, 2009 · No Comments
Jackie Speier one of our US House representatives rightly believes the current limit of $417,000 for Obama’s refi plan will not help many folks in the San Francisco Bay Area.
The SF Chronicle published an article that indicates only 7% to 8% of the homeowners in San Francisco, San Mateo, and Santa Clara Counties will be helped […]
Tags: Pending Legislation · Credit Information · Helpful Sites