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Announcement

Conforming loans limits increase

by Jaime

What is a conforming loan?  I’m glad you asked. As we all know, the dollar does not go very far in this part of the country when it comes to buying a home.  It always amazes me when I see those shows on TV about people deciding which mini-mansion to buy for $200,000.  I know [...]

Stimulus Package: For us or for them?

by Jaime

Part of the funds allocated through the 2009 American Recovery and Reinvestment Act, aka the Economic Stimulus Plan, is geared towards helping troubled homeowners modify their existing loans to less than 30% of their monthly incomes.  Over the last couple of years this conservative lending practice was surrendered over more riskier and speculative lending practices…hence [...]

First time home buyer tax credit: What does it mean?

by Jaime

The original planned tax credit called for a $15,000 credit to first time home buyers.  The revised and approved package calls for an $8,000 credit instead.  Unlike the previous credit that was available in 2008, the current credit does not to be repaid.  It’s yours to keep.  (ironically, we are borrowing from ourselves, to give [...]

Home Depot Expo Closing

by Jaime

According to CNN, the US’s largest home improvement store, Home Depot, is shutting down its high-end retail store chain The Home Depot Expo.  The 50+ stores will be closing its doors over the next 2 months. Unfortunately, this is just another casualty of the downturn in the housing market. No flipping, no remodels, no renovation [...]

Proposed Stimulus Package and you!

by Jaime

A lot of talk these days on the topic of the proposed stimulus package to help the economy and its people.  I’m more concerned on how it’s intended to help you and the residents of Westchester County in particular. The government is proposing a $15,000 tax credit for first time home buyers in calendar year [...]

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