This is only around until April 30th, and I didn’t want any of you to miss out. I look forward to hearing from you!

First Time Home Buyer Credit:

• Up to $8,000 will be given as a credit to any first time home buyer.

• Purchase can be any residential property.

• Money does not need to be paid back as long as purchaser owns the home for 3 years.

• Purchaser receives tax credit when tax return or tax addendum is filed.

• Full amount of credit available for individuals with an adjusted gross income of no more than $125,000 ($225,000 on a joint return).

• Home must be under contract by April 30, 2010 and close by June 30, 2010.

Existing Homeowner Buyer Credit:

• Up to $6,500 will be given as a credit to any home buyer who has occupied their current home for 5 consecutive years within the last 8 years.

• Purchase must be a primary residential property under $800,000.

• Money does not need to be paid back as long as purchaser owns the home for 3 years

• Purchaser receives tax credit when tax return or tax addendum is filed.

• Income requirements are the same as the First Time Home Buyer Credit

• Begins December 1, 2009 ends along with the Homebuyer Credit

Check Out This Site: http://www.federalhousingtaxcredit.com/

~Lynne

http://www.cdpe.com/what-is-a-cdpe.html

Lane County Home Savers

Avoid Foreclosure – Don’t Let Time Run Out

Press Release

Community Crisis Addressed by Local Coalition of Professionals

EUGENE, OR, October 7, 2009:  According to Lane County, Oregon, records, 3,238 households have been notified that they are in mortgage default and within months of losing their home. Since 2008, the unemployment rate in Lane County has more than doubled[i].  In the next nine quarters, it is forecasted that Oregon will lose nearly 120,000 more jobs[ii].  This will be across all sectors of our workforce and will undoubtedly increase the number of homeowners facing foreclosure. Confronted with a humiliating process culminating in a public auction of their home, many local residents don’t know where they can discreetly learn more about their options regarding foreclosure avoidance. In fact, 80% of them never tell anyone about an upcoming foreclosure[iii].

A local group of professionals comprised of attorneys, accountants, lenders, Realtors, and loan modification experts call themselves the Lane County Home Savers. With a content-loaded website, www.LaneCountyHomeSavers.com, and an offer of a free consultation, this diversified group of professionals has expertise in areas relating to foreclosure avoidance.  This is a unique professional resource that cannot be found anywhere else in the county. Once consumers are educated about all of their options, the feeling of hopelessness is eased, and group members believe their service will have a positive impact on the local community.

The mission statement of Lane County Home Savers reads: “Dedicated to addressing the local foreclosure crisis, one homeowner at a time. Our goal is to save Lane County neighborhoods and individual homeowners from the impact of foreclosure with integrity, sensitivity and compassion.” All members of the Lane County Home Savers have undergone extensive training to earn the Certified Distressed Property Expert designation.  The members and affiliates consist of: Desiree Moore, Barbara Thomas, Tara Barron, Gary Raze, Linda O’Bryant, Dennis Pease, Donna Phibbs, Ladelle White, Ron Smith and Cindy Senn.

Foreclosures are taking place in Lane County at every socio-economic level. White collar professionals are losing their homes alongside blue collar working families, and often, the circumstances involve events such as job loss, death in the family, military deployment or medical issues, which could neither be predicted nor controlled.  Foreclosure can be humiliating and very detrimental to credit ratings.

The Lane County Home Savers recommend their website, www.LaneCountyHomeSavers.com, as a place for people to begin learning about alternatives to foreclosure, and they can also be reached at 541-302-4840.  A press conference will be held on October 7 at 11:30 A.M. on the Lane County Courthouse steps to introduce this resource to a community in crisis. The Notice of Default included in this press kit is designed to simulate for you the feelings of desperation, shock and hopelessness experienced daily by our neighbors throughout Lane County. “Getting the word out about education and resources is a first step in being proactive,” says Lane County Home Savers President Desiree Moore.

[ii] Oregon Office of Economic Analysis; Oregon Labor Market Information Systems; published September 21, 2009

[iii] Portland Regional Multiple Listing Service.