Posts Tagged ‘tax credit’

February 12, 2010 1

Is it Double Dipping?

By Marla in Assistance, Special Programs, Taxes

On February 17, 2009, in Denver, President Obama signed the American Recovery and Reinvestment Act (ARRA).  This bill had substantial changes to the federal First-Time Home Buyer Tax Credit, including eliminating the 15-year repayment obligation of the Borrower which was part of the 2008 Housing and Economic Recovery Act (HERA).
However, and most pertinent, Section 1006 (e) [...]

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January 15, 2010 0

Drop Your Rate from 5.5% to 4% – NO JOKE!

By Marla in Assistance, Qualifying, Rates & Fees, Taxes

Would you like to drop your mortgage rate from 5.5% to 4%?  Crazy question, right?  In Colorado, qualified homebuyers can apply for the Colorado Housing and Finance Authority (CHFA) Mortgage Credit Certificate (MCC) to do just that.  That was a mouthful!
Everyone knows that their monthly payments for the first several years of their home mortgage [...]

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January 8, 2010 0

Don’t have a lot of money for down payment?

By Marla in Assistance, Qualifying, Taxes

(All stories shared on Lending A Hand contain fictitious names with changes to insignificant details.  The privacy and trust of our customers is our top priority.)
I received a call from a customer who was interested in a condo and wanted a maximum monthly payment of $1,000.  We’ll call him Gaston (obviously a fictitious name).  Gaston [...]

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