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When it comes to help from new federal legislation for distressed home owners, the $300 billion "Housing and Economic Recovery Act of 2008" (H.R. 3221), signed earlier this year, can provide more immediate relief. The $300 billion recovery act has both a mandated mortgage modifying provision and a voluntary "Hope For Homeowners" (H4H) refinance program, for home owners who qualify. |
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The $7,500 home ownership tax credit that the federal government created earlier this year as part of the Housing and Economic Recovery Act (H.R. 3221) is another reason to take advantage of the low prices and and get into the real estate market. When you combine the tax
credit with today’s low interest rates, wide selection
of for-sale inventory, and affordable home prices, many
of the pieces are in place for you to buy now. But tax
credits can be confusing. 1. Buyers have until July 2009 to make a purchase that qualifies. The tax credit was passed in July of this year as part of the Housing and Economic Recovery Act (H.R. 3221). It’s worth up to $7,500 and can be I am an Accredited Buyers Representative and an e-PRO
Certified Internet Expert and Licensed in the State of Hawaii
as a Realtor- Associate. |
Not surprisingly, much of the lack of confidence in the real estate market stems from the mortgage fallout, the instability of the real estate market, uncertainty of economic times, and the upcoming election. According to the survey, which included about 1,500 respondents, 70 percent of non-homeowners have no plans to purchase a home in the next 12 months and nearly half in the 18 to 34 age group say the reason is because it's too costly. While those in the 35 to 44 age group are concerned that they might not be able to qualify for a home loan. The survey also found that only 12 percent of the non-homeowner respondents said they expect to buy a home in the next 12 months. Click here for
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| Kate Braden RA ePRO ABR MS E-mail: KateB@KateBraden.com Web: http://www.katebraden.com/ Cell/Direct: (808)265-6803 |
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Hawaii Realty Associates, LLC 4211 Waialae Avenue, Suite 1020 Honolulu, Hawaii 96816 |
Equal Housing
Opportunity
A
recent survey released by Trulia, a real estate search engine, community
forum center, and reporter of market trends and data, found that a "crisis
of confidence" exists among key groups of U.S. homebuyers. 
