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Loan Limit Increases for FHA 2009 |
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This Mortgagee Letter provides information on Federal Housing Administration (FHA) single family loan limits that have changed as a result of the American Recovery and Reinvestment Act of 2009 (ARRA) signed into law on February 17, 2009. These limits are effective for those loans for which credit is approved in calendar year (CY) 2009 and will remain in effect until December 31, 2009. |
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FIRST TIME HOMEBUYER TAX CREDIT |
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FIRST TIME HOMEBUYER TAX CREDIT
Frequently Asked Questions
In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first‐time homebuyers to
purchase a home. The credit was designed as a mechanism to decrease the over‐supply of homes for
sale.
For 2009, Congress has increased the credit to $8000 and made several additional improvements. This
revised $8000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009.
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Fico or Fako by Edward Jamison |
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We've all seen them - the never-ending television ads and radio commercials with the catchy jingle for free credit reports and scores.
Nowadays a number of similar companies are offering free credit reports and scores. With all of these ads for freebies, it's no wonder that so many consumers believe that all credit scores are created equally.
First, a little history on credit scores:
A company called the Fair Isaac Corporation |
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Mortgage protection for your friends and family |
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Over the next few days and weeks, the Federal Reserve, which seized IndyMac's assets, did its best to assure IndyMac's customers that their bank accounts were protected by the Federal Deposit Insurance Corp (FDIC). This meant that typical checking and savings accounts were protected up to $100,000 per individual and up to $250,000 for retirement accounts, such as an IRA.
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Mortgage protection for your friends and family |
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Over the next few days and weeks, the Federal Reserve, which seized IndyMac's assets, did its best to assure IndyMac's customers that their bank accounts were protected by the Federal Deposit Insurance Corp (FDIC). This meant that typical checking and savings accounts were protected up to $100,000 per individual and up to $250,000 for retirement accounts, such as an IRA.
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