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From our esteemed guest blogger, Tasha Linton, of Atlantic Home Equity Mortgage, more details about the first time homebuyer $8000 tax credit and how it can and cannot be used for buying a home. -------------------------- IÂ am sure everyone heard about another change to the $8000 tax credit policy. On Friday, HUD Secretary Shaun Donovan announced [...]
On Tuesday I wrote about an exciting new program that HUD & FHA were rolling out to let the $8000 Tax Credit for First Time Homebuyers be used as a downpayment. That has now been retracted, and the letter removed from the HUD site. Yet Yesterday, HUD Secretary Donovan said that many states already were [...]
**Update May 14, 2009, please see my update that HUD has retracted its statement and that this may NOT be the case everywhere.** The Secretary of the U.S. Department of Housing and Urban Development announced at the National Association of Realtors summit today that the FHA is going to allow lenders to let First Time [...]
Is there are new mortgage tax for those with higher credit scores starting May 1, 2023? **UPDATE 5/10/23 - it appears that FHFA may have partially rescinded some of this rate adjustment. See news release from FHFA 5/10/23. ** Not really...but there is a change in fee structure for new Fannie Mae and Freddie Mac [...]
A Baltimore City property tax cut was proposed by Mayor Pugh to reduce the tax rate by 2021. Mayor Pugh's goal is to have the Baltimore City owner occupied property tax rate reduced to under 2% of an assessed property's value. Her hope is to have it reduced to 2.048% by this coming July, according [...]
There are, I am sure, more than five credit mistakes to avoid when buying a house, but this list is a good place to start. Thanks to HomeKeepr for the list to share. First Credit Mistake: Not knowing what is in your credit file. I have been very surprised (as have clients) when judgements or [...]
The Maryland property tax rate is not as high as many believe. I hear pretty often that the Maryland property tax rate is one of the highest in the country. Though it may feel that way, currently, it ranks #20, according to this post in the Patch. There are 19 other states with property tax [...]
Property taxes in Baltimore County and Baltimore City rise in 2019. Well, and every other county in Maryland. This is apparently the first year since 2008 where every single Maryland county is seeing property tax increases. Assessments on Maryland properties are averaging a 9.1% increase on average. Baltimore City residents are seeing a 5.9% increase, [...]
There are three appeal possibilities for Baltimore County homeowners when it comes to your property taxes. The first is the Assessment Appeal. This appeal is done the year it is assessed. As soon as you get your assessment, if you disagree with the assessed value, you can file this type of appeal. The second is [...]
Baltimore City property tax bill errors were popping up in large amounts last week. Approximately 7,900 city residents received additional bills because of a computer issue, stating that their taxes were past due. Many of those who received the erroneous additional property tax bill were newer Baltimore City homebuyers who bought their homes sometime between [...]