Hal's Mortgage Blog

It's called the $8,000 Tax Credit for First Time Homebuyers. The deadline is December 1, 2009. A buyer must close on their purchase before this date. If you or someone you know has waited til now, it's not too late but time's a-wastin'

The following is a brief summary.

1. Who Qualifies? Must be First Time Homebuyer - by definition this means have not owned a home in the last three years.

2. How Does it Work? This is a credit not a deduction. It entitles you to a rebate on your taxes - you can even amend your 2008 Tax Return and receive the $8,000.

3. Do I Have to Pay it Back? No. Last years credit had to be repaid but this year's is your's to keep.

There's not enough room here to go into detail but call or email hal1127@bellsouth.net I have the IRS Form 5405 and I would be glad to email you a copy. As always, you should consult a tax expert but I think you'll find this a good reason to buy a home NOW!

The debate rages over our current state of economics - can we spend our way to prosperity?

Here's a twist on that concept. Can you worry your way to happiness? According to Joe Stumpf, well known trainer of Realtors and Lenders, "If you practice worry, fear and anxiety, you'll get better at them".

He suggests changing your attitude by changing your gratitude. Focus on what you are grateful for and see if that doesn't change your day.

In the words of Alfred E. Neuman, "What, me worry".