Home Buyer Tax Credit Passed by Congress
If you haven’t heard by now the Congress has extended and expanded the homebuyer tax credit.  Both the House and the Senate passed an Unemployment Insurance Extension bill that includes an amendment that extends and expands the homebuyer tax credit.  The bill is expected to be signed into law by President Obama today. Is anything different about this homebuyer tax credit? The $8,000 credit for first time homebuyers remains intact but has been expanded to include current homeowners.  If you have sold or currently own a primary residence for 5 of the last 8 years, you are eligible for a $6500 tax credit, $3,250 if married and filing separately.  There have also

You Can’t Refinance: Now What?
Many people across Arizona are caught between a rock and a hard place. Because property values have declined in the last few years, many people owe more on their mortgage than their home is now worth. Sometimes, much, much more. If you owe up to 125% of your home’s value, there may be a program that will allow you to refinance and take advantage of lower rates. What if you owe more than 125% of your home’s value? It is time to get creative on how to save money each month on your mortgage payment.