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February/March 2009
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Equal Housing Opportunity

Details Of The Recovery and Reinvestment Act of 2009

Talk about tax shelters. Your home likely provides more tax relief than any other acquisition, thanks, in part, to new federal laws designed to ease financial suffering in the recessionary economy.
The "American Recovery and Reinvestment Act of 2009," passed the House on February 13, 2009, by a vote of 246 - 184. Later that day, the Senate also passed the bill by a vote of 60 - 38. The President signed the bill on February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for

More Articles

	February Round Up: Rates Remain Very Affordable
	The Ripple Effect of The Non-Repayable Tax Credit
	Should You Use an IRA LLC or Solo 401(K) to Invest in Real Estate?

Mortgage Rates
U.S. averages as of February 26, 2009:

30 yr. fixed:   5.07%
15 yr. fixed:   4.68%
1 yr. adj:        4.81%

Contact our Lending Partner for Current Rates or a Pre-Qualification

2009) and the rest to spending intended to occur in 2009 and 2010.
The bill includes the following provisions:
Homebuyer Tax Credit - The bill

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Are You Represented? The Seller Is!!

Did you know that before the early 1980's buyers were never represented? Sellers had agents to list their properties and negotiate the contract with all the expertise of professional Realtors and buyers were at a disadvantage in every transaction. From that imbalance evolved the Buyer's Representative or the Buyer's agent. CONTINUED>>>

Why Buy a Home Now

     If you're renting and wondering if you should buy a home, consider what bestselling author, David Bach, says, "The average homeowner is worth 35 times more than the average renter."
      He advises renters to take action immediately and start saving part of their paycheck every month to help accumulate a down payment. He also encourages renters to borrow 10-20 percent less than what the bank is willing to lend; that way they're only buying as much home as they can afford.
      The longer you rent, the longer it may take you to eventually get into homeownership. If the market conditions have scared you, perhaps you're not looking at the other side of the coin. Owning a home becomes part of your investment portfolio, provides tax benefits, allows you to build equity (it still exists), and, if you buy now, you may get an excellent deal.
      According to a MarketWatch news article, buying a home now can provide some real negotiating power to request

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Mortgages That Survived
The Credit Crunch

     Today's mortgages are a far cry from boom time home loans, but they do exist and some lenders have money to burn. "People used to qualify with stated income. Now there is more documentation. And they aren't just documenting your income, but looking for assets in addition to your income and low debt-to-income ratios and low loan-to-value ratios," said Asmaa Egal, mortgage broker, Loan Republic Financial in San Francisco.
      The new brand of home loan has been customized with tighter controls and fewer defects to replace old mortgage models that crashed and burned when the economy hit the skids. "You have to qualify. You have to prove your income. They have make-sense underwriting," said, Quincy Virgilio, 2009 president of the Santa Clara County Association of Realtors.
      FHA-insured mortgages
      The new darling of the homebuyer set, Federal Housing Administration-insured mortgage programs, have been available for decades. especially for low- to moderate-

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