Housing Bill and Tax Credits

Relocating? You May Qualify for a Moving Expense Tax Deduction

Relocating?  Deducting Moving Expenses on your taxes may make your relocation a little less stressful.  Here are the IRS rules to see if you qualify: If you are moving due to a change in your job or business location, or because you started a new job or business, you may be able to deduct your moving expenses.  … Continue reading Relocating? You May Qualify for a Moving Expense Tax Deduction

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House Bill 1523 to Shorten Foreclosure Process to 90 Days

Thinking of Living for Free?  New Law to Expedite Foreclosures…. By SHANNON BEHNKEN | The Tampa Tribune A controversial bill in the legislature would speed up foreclosures in Florida and remove the process from the court system. “This would have a profound and dramatic change on the foreclosure landscape,” said John Byrne, a Tampa lawyer … Continue reading House Bill 1523 to Shorten Foreclosure Process to 90 Days

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Mortgage Insurance May Be Deductible on 2009 Tax Returns

If you purchased a home and are paying PMI (Private Mortgage Insurance) you may be able to deduct the mortgage insurance payments on your taxes!   Question 1:  I bought my main home in 2008 using a mortgage and I pay monthly premiums for mortgage insurance. Can I deduct these payments? Answer:  In general, if you … Continue reading Mortgage Insurance May Be Deductible on 2009 Tax Returns

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Home Owners may be eligible for Chinese Drywall Tax Break..but you'll have to PROVE you have it!

 WASHINGTON, D.C. — – Homeowners stuck with tainted Chinese drywall could be eligible for big tax breaks. The Internal Revenue Service said Thursday it would  consider granting a tax deduction for homeowners who can prove they have suffered “sudden, unusual and unexpected” damage because of the building material. In a market where many houses are … Continue reading Home Owners may be eligible for Chinese Drywall Tax Break..but you'll have to PROVE you have it!

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Home Owner Move-Up/Repeat Home Buyer Tax Credit FAQ

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April … Continue reading Home Owner Move-Up/Repeat Home Buyer Tax Credit FAQ

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Exisiting Home Owners qualify for a home owner tax credit

Home Owner Move-Up/Repeat Home Buyer Tax Credit FAQ The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 … Continue reading Exisiting Home Owners qualify for a home owner tax credit

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NEW Home Buyer Tax Credit Extension-What you NEED to know!

If you are looking to use the first time home buyer tax credit, here is the information on changes and the extension. I’ve also posted links to a spreadsheet that provides more details on changes to the tax credit.   Please take the time to read over the Frequently Asked Questions document as well.  Please let … Continue reading NEW Home Buyer Tax Credit Extension-What you NEED to know!

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CNN Reports-Senators agree to extend home-buyer tax credit

Here’s an update on the home buyer tax credit which is hopefully going to be EXTENDED until June 2010.  This will make a big impact on Tampa Real Estate, since many buyer’s have now run out of time to purchase a home by Dec. 1st.  Glad to see they are working on extending it! WASHINGTON — Senators … Continue reading CNN Reports-Senators agree to extend home-buyer tax credit

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Realtors Tell Congress to Extend Tax Credit-Tampa, Fl

There is no official news that the tax credit will be extended past the Dec 1st deadline.  Realtors are campaigning to ask Congress to extend the credit for one year. As a Realtor,  I can assure you that the $8,000 first-time homebuyer tax credit has definitely been a success.  Homebuyer interest and housing sales increased … Continue reading Realtors Tell Congress to Extend Tax Credit-Tampa, Fl

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Buyers Face Roadblocks for Dec 1st deadline of homebuyer tax credit-Tampa, Fl

Decision Time Draws Near for First Time Buyer’s Credit While the economy continues to show signs of improvement and many housing markets are beginning to heat up, scores of would-be buyers are still waiting on the sidelines for further positive housing trends. But for first-time buyers, time is running short on the federal government’s $8,000 … Continue reading Buyers Face Roadblocks for Dec 1st deadline of homebuyer tax credit-Tampa, Fl

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Home Buyer Tax Credit Down Payment Update

Friday the St. Petersburg Times stated that Governor Christ signed a bill to allow for the First Time Homebuyer Credit to be used as down payment and I am getting numerous emails regarding the details so I wanted to take a moment and update everyone.  FHA announced today that it will allow the First Time … Continue reading Home Buyer Tax Credit Down Payment Update

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