Home Buyer Tax Credit Extended!

That's right! The dream of home ownership is within reach. To continue stimulating the economy Congress has passed a new legislation that has extended the tax credit. Here is a small snapshot of what the bill covers:

* Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
* Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

To qualify for the tax credit be sure to have a dated purchase contract between November 7, 2009 and April 30, 2010. Those of you buying a short sale or REO and are worried that you wont make it in time, as long as the contract is dated by April 30th, 2010 you will have until July 1, 2010 to close.

For more information always feel free to shoot over an e-mail and I'll get right back to you.

HARP (Home Affordable Refinance Program)

You may or may not have heard of a refinance program that has been released a few months back formally known as the Home Affordable Refinance Program, HARP. I have found this to be a great program for people that have purchased their home within the last few years and now owe more than what their home is worth.

Here are some of the key advantages of the HARP program:

* Home must be owner occupied
* Property can be 1 to 4 units for a primary residence
* Current mortgage loan must be owned Fannie Mae or Freddie Mac
* Mortgage must be paid current and up-to-date
* Loan-to-value (LTV) can be no more than 125%



With rates being at an all time record low, this is a great opportunity for homeowners to get into a low fixed-rate mortgage! In some cases an appraisal may not even be required, and credit scores may not even play a role in the loan approval process!

You can find out if Fannie Mae or Freddie Mac owns your loan by going to their website or just go to my website and I will look it up for you, and check if you qualify for other programs to save you money and lower your over all monthly payments.

Go to: http://www.wfhm.com/charles-roberts

My Los Angeles Mortgage blog is born!

Today I have decided to enter the world of blogging. I will be sharing my industry knowledge and latest mortgage events as they occur. Look forward to hearing comments and sharing knowledge with the community of Los Angeles!

For a free mortgage rate monitor check out my other website,
http://www.wfhm.com/charles-roberts