http://www.sellshouses.net Mon, 21 Jun 2010 22:46:33 +0000 http://backend.userland.com/rss092 en Check back often, as I will be posting new Green Tips weekly. Here is your Green Tip for this Week... Natural deterrents to ants include dry Cream of Wheat, which they cannot digest and is lethal to them, as well as powdered borax mixed with maple syrup (don’t use the latter if ... http://www.sellshouses.net/green-tip-of-the-week/ NO MORE STATE TAX ON FORGIVEN DEBT Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification.  Enacted into law yesterday, Senate Bill 401 generally aligns California's tax treatment of mortgage debt relief income with federal law.  For debt ... http://www.sellshouses.net/no-more-state-tax-on-forgiven-debt/ Governor signs home tax credit bill Governor Schwarzenegger today signed AB 183 providing $200 million for home buyer tax credits. The bill allocates $100 million for qualified first-time home buyers who purchase existing homes and $100 million for purchasers of new, or previously unoccupied, homes. Eligible taxpayers who close escrow on qualified ... http://www.sellshouses.net/market-news-in-real-estate-4/ $18,000 IN COMBINED HOMEBUYER TAX CREDITS FOR A LIMITED TIME Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before ... http://www.sellshouses.net/tax-credit-update/ The Wall Street Journal Reports. . . Nabbing a bargain-basement mortgage before rates rise The Federal Reserve has been purchasing mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac since early last year. The purchase program has helped maintain low interest rates for borrowers. As planned, the Fed this week announced it ... http://www.sellshouses.net/market-news-in-real-estate-3/ CNN Money reports. . . Nab a real estate deal – while you still can The combination of affordable home prices, low interest rates, and the federal tax credit for home buyers have created an opportune time for many buyers to purchase a home. Many real estate analysts also believe that most ... http://www.sellshouses.net/market-news/ The Los Angeles Times Reports Shopping for a loan? A good faith estimate will protect you. Beginning Jan. 1, the Dept. of Housing and Urban Development (HUD) required lenders to issue Good Faith Estimates to protect consumers applying for mortgage loans. Some loan officers, however, sidestep the new requirement by giving their ... http://www.sellshouses.net/market-news-in-real-estate-2/ Housing prices are unlikely to fall much farther, but they aren't going to rise either - at least for several years - predict analysts for Barclays Capital in its Residential Credit Strategy report. Barclays blames government programs that have slowed foreclosures. "The overhang of distressed inventory is a huge negative technical. ... http://www.sellshouses.net/485/ The Los Angeles Times IRS issues new guidelines on obtaining home buyer tax credits The Internal Revenue Service (IRS) recently issued new guidelines and clarified documentation that taxpayers must submit to successfully obtain the federal tax credit for home buyers. Keep this in mind: The federal tax credit for home buyers was extended and ... http://www.sellshouses.net/market-news-in-real-estate/ The Federal Housing Administration (FHA) recently outlined future changes to the FHA home loan program.  The changes first were proposed last month by Secretary of Housing and Urban Development (HUD) Shaun Donovan. Rising defaults on FHA loans have led to the FHA's cash reserves falling below federally mandated levels.  FHA officials ... http://www.sellshouses.net/new-rules-for-fha-borrowers/