Category Archives: Tax Credit

Fiscal Cliff Matters To Housing | Mortgage Debt Forgiveness Extension

Rhonda Buckner with Buckner Homes Realty
3200 SE 20 Ave. Ocala, Florida 34471
352-266-2637

Rhonda Buckner with Buckner Homes Realty3200 SE 20 Ave. Ocala, Florida 34471352-266-2637

The much feared ‘Fiscal Cliff’ matters big time for housing.
Why?
Wrapped deep within the ongoing negotiations on now to avoid the ‘Fiscal Cliff’ is the extension of the Mortgage Debt Relief Act. Short sales, REOs, Loan Mods….basically the entire housing market would be seriously gut punched if the Mortgage Debt Relief Act isn’t extended.
But, don’t worry. Its getting extended.
From what I have read, folks I have spoken the 2007 Mortgage Debt Relief Act WILL be extended. My contacts in D.C. have told me that neither political party is debating the necessity of extending the Mortgage Debt Relief Act

What I am concerned about is the Mortgage Interest Tax Deduction. Don’t be surprised if the final agreement has in it a limit as to how much you can deduct and limit the deductions based on your income.

Rhonda Buckner Ocala’s Short Sale Specialist 352-266-2637 Sells Short Sales Quickly

Beautiful Home in Magnolia Pointe

Call Rhonda 352-266-2637 for more information on this immaculate home in a great neighborhood. Asking $110,000.00

First Time Home Buyers Tax Credit| Get up to $8000

Don’t forget the tax credit. First time home buyers are “anyone that has not owned a home in the last 3 years”. You need to call Rhonda 352-266-2637 to find you a home now, in order to get this credit. I can get you qualified within a half hour and find you a home this week.

Ocala housing market in 2010 is mostly short sales or pre foreclosures, foreclosures, distressed properties. It is a great time to buy now with the interest rate as low as it is and all the home buying assistance programs. Call Rhonda for more information 352-266-2637.

Buying a home? Take Advantage of a Federal Income Tax Credit
New legislation was approved which extends the First-Time Homebuyer Credit for homeowners through April 30, 2010 with a 60-day cushion beyond that date to complete closing. The program broadens benefits to existing homeowners and now includes:
• $8,000 tax credit for first-time homebuyers
• $6,500 tax credit for existing homebuyers who have lived in their current residence for at least five years but want to relocate to a new primary residence
• Increased income limits for individuals and couples
For more information about this program, click here. Also, speak with a lender, accountant or attorney to learn more about how this may apply to you.

(Irs.gov)

For finanicng help call Rick 352-804-5883.
Search for property at www.Bucknerhomes.com