Category Archives: Home Buyer Tax Credit 2009

Mortgage Volume Rises Slightly — New York Real Estate

Mortgage applications were up 0.3 percent last week compared to the previous week on both a seasonally adjusted basis and on an unadjusted basis, according to the Mortgage Bankers Association weekly survey. The increase was in refinances, which rose 0.9 … Continue reading

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Geithner Says TARP Will Be Extended

Treasury Secretary Timothy Geithner told Congress on Wednesday that the government’s financial bailout program, Troubled Asset Relief Program (TARP), will be extended until Oct. 3, 2010. “The recovery of our financial system remains incomplete and near-term shocks to that system … Continue reading

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Bernanke Promises Low Rates

Federal Reserve Chair Ben Bernanke said Monday that he could make no guarantees that the current economic recovery will last, but he promised to keep interest rates at low levels for “an extended period.” Central bank officials will discuss monetary … Continue reading

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Foreclosures Decline for Fourth-Straight Month

Foreclosures declined 8 percent in November compared with October, but were still up 18 percent from November 2008. This was the fourth-straight month that U.S. foreclosures have declined since hitting an all-time high in July, according to online foreclosure marketer … Continue reading

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IRS Sets New Rules for Tax Credit

The IRS has spelled out guidelines for eligibility for the home buyer credit when co-borrowers purchase a property. When a home-owning parent of an adult child co-signs for a mortgage and both names appear on the note, the IRS says … Continue reading

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Nine Consecutive Gains for Pending Home Sales

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the NATIONAL ASSOCIATION OF REALTORS®. The Pending Home Sales Index, a forward-looking indicator based … Continue reading

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Harvard Economist Predicts Prices Will Stay Low

Harvard University economist Edward Glaeser discusses with Money Magazine where home prices will move next. He argues that older, colder cities are unlikely to come back because their initial growth was tied to transportation costs. Now that few goods are … Continue reading

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