Veteran Angels, Inc. is a nonprofit organization helping qualified senior veterans. If a vet qualifies, he or she may be eligible to receive tax free $1,949 per month. This program gets very little attention and there are many vets who qualify but are unaware of this benefit. Go to
http://VetAngels.org for details.
And thank you for your service.
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We have a couple of messages for our military on this Memorial Day. One for those recently or currently serving and one for our senior veterans. This first post is for our military personnel who recently served overseas.
This is a reminder for those of you who served official extended duty for a minimum of 90 days between January 1, 2009 and April 30, 2010. You can still qualify for the home buyer tax credit as long as you have a signed purchase agreement on a principal residence prior to April 30, 2011 and close on the transaction by June 30, 2011,
If you are a first time buyer you may qualify for up to $8000 in tax credits. If you are a prior home owner you may qualify for up to $6500. Click on the Resource link below for additional information.
We will have our second post for our senior veterans up in an hour.
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No one knows for certain what the impact will be when a homeowner walks away from an underwater mortgage. I read a few months ago that one outcome of the housing crisis will be that credit agencies and lenders will rewrite the rules.
The Mortgage Bankers Association’s
chief economist believes that homeowners who walk will not be able to buy another house for 7 to 8 years. But then that is a mortgage banker speaking who undoubtedly has a wee bias.
We won’t know for a while what will happen. I suspect many homeowners who walked did so with sound reasons and were looking out for the long term well being of their family.
Resource: REALTOR.org
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With the economy showing signs of recovery these low rates may not be around long according to an article on
REALTOR.org. It is advised that Buyers lock in their rate now.
Resource: REALTOR.org & Freddie Mac
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Sellers are finding fewer people are looking to purchase a home as renting appears to be a better option. A recent survey by the National Apartment Association (NAA) indicates 76 percent of consumers now see renting as a better option to buying. You can read a summary by REALTOR.org
here or the article by NAA
here.
Resource: REALTOR.org & National Apartment Association
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