February 24th, 2009 categories: Finances, Home Buying

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President Obama signed the American Recovery and Reinvestment Act of 2009 into law last week. Of note to potential home buyers and current home owners was Section 1006, which granted an “Extension of and Increase in First-Time Homebuyer Credit” as well as a Waiver of the requirement to Repay. Here are the details:
To get more information on the original bill that the American Recovery and Reinvestment Act of 2009 revised, we’ve linked to a previous post of ours that explains the details of the old $7,500 tax credit
If you have any questions on the $8,000 tax credit and how it impacts you as a home buyer, don’t hesitate to ask.
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August 12th, 2008 categories: Home Buying, Home Selling

A new state mandate requiring carbon monoxide alarms in existing single-family homes went into effect on August 1, 2008, that is protecting buyers and surprising sellers. Keep reading to find out how to prevent this silent killer’s new law from sneaking up on you… Read the rest of this entry »
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August 6th, 2008 categories: Finances, Home Buying
UPDATE (2/24/09): Revisions have been made to this bill with the American Recovery and Reinvestment Act of 2009. After reading about this bill, read about the changes made here.
In this second post of our H.R. 3221, the “Housing and Economic Recovery Act of 2008″ Series, we talk about a provision included that allows most first time home-buyers to receive at $7500.00 tax rebate. Make sure you read all the way through as there are some caveats and a TWIST. Here are the details you need to know:
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June 27th, 2008 categories: Home Buying
Okay, “10,000+ Reasons to Buy a Home” might seem a bit excessive, but in a new housing initiative called Minneapolis Advantage, the city of Minneapolis is offering just that….up to a $10,000 zero-interest, zero-payment loan that’s forgivin over a 5 year period (a.k.a. totally FREE after the 5 years are up) to qualified buyers that purchase a home in one of the city’s 18 eligible neighborhoods.
Developed in response to the city’s rising level of foreclosures, the Minneapolis Advantage loan program is a downpayment and closing cost assistance program to help rebuild the housing market in key neighborhoods (located mostly within the central South and North communities) that have experienced higher than normal levels of mortgage foreclosures.
In addition, the Harrison, McKinley, Folwell and Webber-Camden neighborhoods are offering buyers $4,000 in mortgage assistance, and Harrison is adding another $15,000 for renovations. That makes $29,000 in forgivable loan money to fix up an abandoned home in that neighborhood.
So, if you’re looking to buy a home in Minneapolis and you have good credit, now you have 10,000+ more reasons to get out there on the house hunting trail and buy today
Make sure to check out these two listings, which both qualify: 2810 Aldrich Ave / 1820 Skyline Curve
For more information on Minneapolis Advantage program details and detail on how to apply click here.
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