Time is a runnin’ out! Here is one last call to all you FIRST-TIME HOME BUYERS! Don’t delay. Get those offers in ASAP.  As I am sure you have heard you are eligible for up to an $8000 tax credit on your 2009 tax return.  And when they say tax credit that is what it [...]

The much coveted, desired and advertised $8,000 first time homebuyer tax credit may be extended after all.  Here is the latest:
WASHINGTON (Reuters) – The U.S. Senate should act later this week to extend a $8,000 tax credit for first-time home buyers that is scheduled to expire soon, Democratic Sen. Bill Nelson said on Monday.
“We should [...]

The $8,000 firs time homebuyer tax credit won’t last forever.
It’s set to expire by the end of the year.
Made me think of this video:

Now read this overview on why you need to get moving to take advantage of this money.

From The Onion:

Pretty funny. Or is it?

Both the US House and the US Senate passed a bill to restrict credit card practices and eliminate sudden increases in interest rates and late fees.  Here are some of the major provisions of the bill and how it will affect you (via boston.com):

Creditors cannot increase the annual percentage rate (APR) during the first 12 [...]

The Federal Open Market Committee met today and decided to keep the Federal Funds Rate between 0% and 0.25%. Below is a quote from a very good analysis on Businessweek:
The FOMC stuck to its target range for the federal funds rate at 0% to 0.25%, and signaled that rates are likely to remain at exceptionally [...]

WSJOnline has a very useful chart and great article today on who qualifies for the recently announced mortgage rescue plan.

Click on the image above to view full image.

Details of President Obama’s plan to help struggling homeowners was announced today. This plan was announced a few weeks ago as the Making Home Affordable initiative. From the details which were announced today this plan helps two types of homeowners  and applies only to primary homes. This means you can not expect any help on [...]

President Obama was in the Phoenix area today to announce details of the Homeowner Affordability and Stability Plan. I guess the White House considers this area to be near ground zero of the housing bust and hence the area to be most hurting due to the housing downturn.
The plan is to help those who are [...]

This is somewhat old news (from last Friday), but Fannie and Freddie have extended their foreclosure freeze.  From the AP via Newsday:
MCLEAN, Va. (AP) — Government-controlled mortgage finance companies Fannie Mae and Freddie Mac said Friday they have immediately suspended all foreclosure sales involving occupied single-family and 2-4 unit properties through March 6, to give [...]