The Federal Tax Credits Blog

Posts Tagged ‘mortgage’

$8000 Mortgage Tax Credit

Question: Can I still receive a first time home buyer tax credit if I already got my refund?

I did my 2008 taxes through HR Block this year and I have already received my refund. HOWEVER, even though I gave all of my mortgage details to the HR Block “professional” he over-looked the fact that I bought my first home in September of 2008. Please give some insight on this matter if you can.

Thanks
Also, when I called HR Block office who did my return they informed me they were not sure if they could still give me this credit since I already received a tax return.

Answer: You can go to any tax services and have them file an amended tax return for you. Most places charge a flat fee. However, you only qualify for the $7500 interest-free loan, which has to be repay over a 15-year period starting on your 2010 tax return.

19. History of the Mortgage Market: A Personal Narrative

Question: I still have not recived a birth certificate for my 5 month old.?

We live in Alberta Canada, We filled out the paper work in the hospital, but nothing has come in the mail yet, I want to file for my child tax credit but it says you need a birth certificate or a record of birth, but we did not get anything, What should I do? Or is this normal for it to take this long?

Answer: I don’t know about Canada… but in California, we have to actually go to our county records office and apply for a birth certificate. I thought I had filled something out in the hospital, but for us, that was for a social security number. I was so tired at the hospital, I didn’t know WHAT was going on!

Is it possible you need to go somewhere to get it? Perhaps the paperwork you filled out in the hospital was for something else? I’m just throwing out ideas…

Central Virginia Bankshares Reports First Quarter 2011 Financial Results

Central Virginia Bankshares, Inc. and Central Virginia Bank announced that the “Pre-tax, pre-provision” earnings for the quarter ended March 31, 2011, was $757.4 thousand compared to a pre-tax, pre-provision earnings of $386.9 thousand for the quarter ended March 31, 2010.

Mortgage Credit Certificate

Question: I am Building my own house. To get the $8000 tax credit who determine’s occupancy?

I am Building my own house. I am looking to get in befor Dec 1 for the $8000 tax credit. I was looking at the Bill H.R 3221 where they define Construction of a new house and have a question about Occupacy. Who determine’s Occupancy?

Answer: They are talking about the completion papers, when the house is done.

Unless the construction is complete by Dec 1 you can’t take the credit.

Inland Real Estate Corporation Reports First Quarter 2011 Results

OAK BROOK, Ill.–(BUSINESSWIRE)– Inland Real Estate Corporation today announced financial and operational results for the three months ended March 31, 2011. Key Points Funds from Operations …

California Real Estate Professional – Bridget Cunningham

Question: First time home buyer wanting to buy family home from parents, but have credit score of 591.?

My parents are willing to sell me the house I grew up in for almost half of what it is worth. They said all I have to do is get the loan and they would worry about the down payment. I have a credit score of 591 ostly due to hospital bills. I have no credit cards or car loan and with my fiance we have a combined income of about $55,000/yr. They are willing to sell the house for as little as $100,000. What is the best way of going about this. We don’t want the house out of the family but I don’t think they are willing to rent to own.
They do own the house in full. The only bad thing on my credit are 2 credit cards from over 7 years ago and $16,000 in hospital bills. We have no credit cards open.

Credit score came from Quizzle.com

Answer: Well with that credit rating you are unlikely to qualify for loan even if house appraises out at double the asking price.
Best way for you to do this is land contract, installment contract for deed, rent to own, but this doesn’t give your parents up front money.
We need reform of health care as hospital costs and lack of insurance is major cause of US bankruptcies.
In 6 months you could raise your credit rating above 600, and you might be able to qualify, although you really need 660 or better. This means paying all bills in full and on time. This means not running up your credit cards, STOP using them, and pay 3-5 times the minimums due. Pay off delinquencies. AND you have to have a down payment of 3.5-5% down to get a loan nowadays.
So I’m sorry to say, it doesn’t seem feasible for you at this time. In 6-12 months you can do it with perseverance and persistance and restraint.

Five Thoughts: Caps toughness, Ryan Miller’s sass talk, Coyotes future all in focus

In today’s Five Thoughts, we give credit to the guts and heart of the Capitals while falling in love with the G-rated sass talk from Buffalo’s Ryan Miller.

Home Buying Guide – the mortgage process