Larry "Fly" Young Brentwood Real Estate

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• Correction - $7500 Tax Credit Is Really a Loan.....

  The recently passed housing law contains a $7500 tax credit for first time buyers but it must be paid back over 15 years. In an earlier post, prior to passage, I stated (wrongly) that the new law would allow buyer of properties a tax credit of $7500 ($500/year). Read More... Posted Thursday, August 07, 2008 9:49 PM by Larry Young | 2 Comments Filed under: Real Estate, Announcements, Finances, Buyer Information, FHA, news

• TAX CREDIT FOR NEW HOME BUYERS - Housing & Economy Recovery Act

  ********* CORRECTION********* Read article at http://www.fairmark.com/news/08073001-homebuyer-credit.htm for more information on this credit....,. Congress has passed the Housing and Economy Recovery Act of 2008 (HR3221) and President Bush has stated Read More... Posted Monday, July 28, 2008 6:30 AM by Larry Young | 1 Comments Filed under: Real Estate, Announcements, Finances, Foreclosures, FHA, news

• FHA to Switch to Risk Based Mortgage Insurance Premiums

  Beginning July 14, 2008 the premium paid for mortgage insurance (MIP) on FHA backed loans. The monthly MIP will increase from .50 percent to .55 percent on all loans without a case number assigned before July 14, 2008. In addition, the Up-Front Mortgage Read More... Posted Saturday, June 21, 2008 7:35 PM by Larry Young | 1 Comments Filed under: Real Estate, Announcements, Finances, Buyer Information, FHA

• Purchase Homes for No Money Down With Higher Limit FHA or Conventional Loans

  As part of the recent economic stimulus package signed by President Bush, conforming and FHA loan limits for high cost areas has been temporaily increased until December 31, 2008 to $729,750 for high cost areas like Contra Costa, Santa Clara and Alameda Read More... Posted Thursday, March 20, 2008 7:51 PM by Larry Young | 0 Comments Filed under: Real Estate, Finances, Buyer Information, FHA