Peter Vekselman has been successfully investing in real estate since 1996.
He has completed over 1200 real estate deals, owned a construction company,
been a private lender, and owned a property management company. Peter
currently works with clients all over the US helping them achieve riches in
real estate investing. For more information please visit
www.CoachingByPeter.com.

(ArticlesBase SC #1889003)

Article Source: http://www.articlesbase.com/ – What If I Just Want To Flip?

We have spent a lot of time talking about short sales recently. This is because in many ways, flipping short sales has taken the place of flipping contracts and properties themselves. It is not because those types of deals are no longer available, but instead largely due to the fact that most buyers are going to have trouble getting financing in traditional ways, and most real estate investors do as well thanks to new lending laws that require extremely large down payments and discourage the possession of multiple mortgages.
However, there are definitely a lot of short term real estate investors out there who would prefer to continue doing business simply by flipping properties, and without getting tangled up in short sale negotiations and the in’s and out’s of funding these deals. If you are among those investors, do not think for a minute that this means that you will no longer be able to invest in real estate. However, you will have to come to terms with the changes in the market that impact how you locate and sell the properties that you want to flip.
Many gurus are still teaching the “buy low, sell high” strategy. And they are perfectly right to do so. As long as you can do this, then you will be able to succeed in real estate investing – whether your preference is long term, short term, or just anything that makes you money. However, for a short term real estate investor, the additional caveat of “sell fast” or “turn fast” makes a big difference in this equation. After all, it is one thing to know how to invest in real estate, get good deals and then sell them. It is quite another thing to locate the buyers that you need on short notice.
If you want to simply flip properties, then networking is going to take on a level of importance that is probably unprecedented in your professional life – even if you have been networking on deals for years. The best way to sell a property fast is to have a buyer in mind, and preferable lined up, before you ever start negotiations of any type on the property itself. This gives you several advantages:
• Your buyer has more time to find financing
• You can promise your seller a fast closing
• You may be able to avoid the necessity of transactional funding all together
• You get your money faster
If you just want to flip, then having qualified buyers lined up at the ready will be critical to your success.
Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1200 real estate deals, owned a construction company, been a private lender, and owned a property management company. Peter currently works with clients all over the US helping them achieve riches in real estate investing. For more information please visit www.CoachingByPeter.com.

Retrieved from “http://www.articlesbase.com/business-articles/what-if-i-just-want-to-flip-1889003.html”

(ArticlesBase SC #1889003)

coachbypeter -
About the Author:

Peter Vekselman has been successfully investing in real estate since 1996.
He has completed over 1200 real estate deals, owned a construction company,
been a private lender, and owned a property management company. Peter
currently works with clients all over the US helping them achieve riches in
real estate investing. For more information please visit
www.CoachingByPeter.com.

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Peter Vekselman has been successfully investing in real estate since 1996.
He has completed over 1200 real estate deals, owned a construction company,
been a private lender, and owned a property management company. Peter
currently works with clients all over the US helping them achieve riches in
real estate investing. For more information please visit
www.CoachingByPeter.com.

Instant poor credit loans: get money in the time of crisis

Friday, November 5th, 2010 at 2:00 pm

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Instant poor credit loans: get money in the time of crisis

Usually loan approval takes an appropriate time in performing basic formalities. While your need is so intense that waiting can cause a serious consequence. But it becomes an inflexible fact due to your bad credit. At this point in time, you may require an instant money help to soothe your financial grudging. To solve the problems of borrowing, the concept of poor credit loans has done a great job.

Instant loans are nothing else but loans which are approved quickly. For entire of the loan processing, online application is made. A quarter of lenders are available online in this regard. What all you need to do is to fill in a simple online application by filling out all the relevant information. It takes even less than a couple of minutes.

Later, based on you financial profile and repayment capacity, loan amount is granted. It can also depend upon your credit status also. Specifically designed instant poor credit loans are best suited to people with CCJs, arrears, defaults, bankruptcy etc.

Poor credit loans are multipurpose loans. You can take out them to accomplish several of your purposes. These are college fees, luxury holidays, wedding cost, buying a car, medical expenses, and even to debt consolidating.

Applying instant poor credit loans is very easy. You will find them in secured as well as unsecured forms. A secured loan requires collateral as a security for the loan. Based on the evaluation, amount of money is granted. However, a borrower of any financial class can take out a fund anywhere from £3,000 to £75,000 that can be repaid over a period of 25 years. To the contrary is unsecured loan provision which does not take anything as collateral. You are liable to transact fund on your income level and repaying capacity. Despite all, you can avail an amount ranges from £1,000 to £25,000 that is to be repaid over a period of 6 months to 10 years.

Your wrong financial attitude put you in credit deficit. But with instant poor credit loans you can fill your financial depression with a good wad of cash.

James Mordan is financial adviser for Loans For People With Poor Credit. If you want information related to instant poor credit loans, same day cash, instant approval bad credit loans, Loans for Poor Credit.

Find More Transactional Funding Articles

When Do You Need Private Money Lending

Wednesday, November 3rd, 2010 at 7:33 am

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When Do You Need Private Money Lending

Private money lending is probably the most flexible type of financing you’ll ever get for your real estate investments. Unlike traditional bank loans, you can use private money however and wherever you want. In this type of financing, there are no certain restrictions that can put a damper on how you make money in real estate, which is why if you’re in need of cash for you investment properties, you’ve got to consider securing private loans.

Basically, private money is a type of financing offered by private individuals and small lending companies. It is mostly asset-based, meaning a private money lender relies on the value of the property offered as collateral to verify a loan’s eligibility. For an investor, securing this type of financing can give him a definite advantage when investing in real estate. Here are some of the common uses of private money loans:

When flipping or rehabbing homes. As you may know, banks, mortgages companies, and credit unions don’t usually lend money for the purchase of a dilapidated property because they want don’t want to be saddles with a deadbeat property in case a borrower defaults on his loan. With private money lending, however, you can secure the financing you need to buy a handyman special since what’s important for the lender is the value of the property once it has been repaired and renovated, not its current worth.
When wholesaling bank owned homes or REOs. One of the challenges in wholesaling properties owned by banks and lenders is that you cannot easily assign the contracts of REOs unlike conventional single-family homes. This is the reason why most investors use double closings, wherein the investor buys the property from the bank before selling it to an end buyer, to close deals. If you want to use double closing but you don’t have enough cash to buy the property from the bank, you can use private money as transactional funding.
When making real estate investments with a bad credit. As long as the he is borrowing funds for a property with high profitability and marketability, a real estate investor can obtain the assistance of private money lenders regardless of his credit rating.

Private money lending is indeed a great help for cash-strapped real estate investors. If you want to know where you can find a good source of private money, log on to www.RehabHardMoney.com. The website can hook you up with a reliable lender wherever you are in the U.S.

Hazel Wright is a local hard money lender.

In Segment 2, learn about how much the real estate investing environment has changed in just last year, and how you can use transactional funding to flip houses.

Establishing payment methods for your small business is an important step

Monday, November 1st, 2010 at 12:51 am

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Establishing payment methods for your small business is an important step

Establishing payment methods for your small business is an important step to take when creating a successful business. In a credit based society, establishing a credit card payment system is a crucial step, as it opens up the doors for consumers to patronize your business both online and offline.

Merchant accounts are underwritten by Visa/MasterCard member banks or designated Independent Service Organizations (ISOs) or Merchant Service Providers (MSPs) Processing is done through one of several authorized networks such as Global Payments or Vital. These networks offer the ability for businesses to accept credit cards using credit card equipment as well as online by using a virtual terminal or payment gateway such as Authorize Net.

Having a credit card payment system is important for most businesses to offer the consumer, but setting the system up requires several considerations. Credit card processing equipment and services are offered by a variety of companies, and each company will offer businesses different features and benefits.

These are some of the reasons why a business would want to establish a relationship with a merchant services company offering credit card equipment processing services:

• A reduction in the amount of bad checks that are written to the business fro customers.

• Credit card processing equipment offers a quick payment option for vendors, customers and clients. Also, many merchant companies offer an online feature that will be compatible with your current company website, allowing online consumers to purchase your products and services with their credit cards.

• The credit card payments are easily transferred directly into the business’s primary bank account.

• The credit card processing equipment makes it easy to accept credit card payments at a given physical business location, or off-site by using one of the newer wireless credit card terminals.

When you establish a relationship with a merchant services company, most will link their credit card processing services directly to your business bank account so that your deposits are easily transferred as you receive payments. Some merchant companies deduct the fees automatically from the transaction funded amount, while others bill the merchant once per money for all of the previous month’s fees. The later system is much better for bookkeeping ease and efficiency. Each month you will receive a monthly statement showing all of your business’s account activity for the previous month along with the fees that were charged.

When you are considering credit card equipment processing companies, one of the first things that you will likely consider is the cost. While there is a cost to use some company’s credit processing equipment, there are some very well established companies that offer their equipment for free when you become a customer. In addition to the equipment fees, you can expect to pay transaction fees and usually a monthly service fee or statement fee.

In addition to costs, you want to select a company that will provide you with quality service 24×7, quick terminal replacement in the event of malfunction, and one that will grow with your business as your needs change. As the consumer market is ever changing, you need a company that is willing to change with it, providing you with the most up to date credit card processing equipment and services available.

Did you find this article useful? For more useful tips and hints, points to ponder and keep in mind, techniques, and insights pertaining to Internet Business, do please browse for more information at our websites.
http://www.adsence-dollar-factory.com
http://www.100earningtips.com

Take the Help of Real Estate Services for Those Lucrative Investment Opportunities

Friday, October 29th, 2010 at 6:13 pm

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Take the Help of Real Estate Services for Those Lucrative Investment Opportunities

The real estate services of a competent property management company are proving useful to the buyers who don’t have time to find a suitable real estate investment opportunity. Now-a-days, it has been observed that property buyers are fascinated by investment opportunities with high returns. Property management is not easy and a lot of issues might be hidden therein. A property management company offers a wide variety of real estate services to handle them all. Besides the very common services like land for sale, property for sale and rental services, it also offers residential redevelopment, loan modification service and wholesale real estate investment opportunities. It works in strong association with buyers and sellers to ensure selling and buying of properties for a profit. Those going through the process of loan modification can also seek its professional assistance to help them negotiate with their mortgage holders. Probably you might be dealing with a chaotic loan modification process and need to move out of this situation or seeking for a suitable real estate investment opportunity. Whatever is your situation, a property management company will give you the best possible attention and real estate services to fulfill your individual requirements.

Real Estate Services for Sellers and Buyers

A broad spectrum of real estate services are available for both the buyers and sellers, where they can invest successfully.

Property Management Services: – By securing property management services from a reliable property management company, you will be able to do the following:

1. Buy or sell residential properties (Single family houses/multifamily apartments)

2. Buy or sell commercial properties

3. Sell or hire vacant land

Residential Redevelopment Services:

The residential redevelopment services will give you the opportunity to buy cheap properties or homes in need of rehabilitation. In this way, you can make improvements on the purchased home/property and increase its market value.

Wholesale Investment Services:

With this kind of real estate investment service, investors will get the opportunity to buy already finished properties or rehab properties at low market price and sell them in market for a handsome profit. Thus, it provides the investor with an access to economical properties with good potential for profit.

Buy & Hold Cash Flow Investments

It offers many investment opportunities in purchasing properties including built-in-equity that would lead to an indirect generation of income through rent. The only way to ensure financial independence is to develop a good equity portfolio, clear and unambiguous or least leveraged so that your investment has a good chance of return.

Loan Audit services

This crucial service not only helps you to lower your mortgage rate but also prevent a foreclosure. Attorneys, loan modification companies and consumers prefer to use it during pre-foreclosure negotiations and other legal proceedings such as judicial foreclosures, class action discovery and loan modifications.

Loan Modification Assistance

Loan modification service serves as the best option for all those borrowers who are unable to make loan payments due to financial loss. It enables the borrower to get more reasonable payment options from the bank. Again, the banks keep on changing their loan terms, balances, interest rates and other aspects of the loan agreement. The property management professionals keep themselves abreast of the changing requirements and help you to negotiate with your lender.

Transaction Funding for Real Estate

This is one of the most productive real estate services, where investors get an option to use a special kind of loan called bridge loan. This loan provides the much needed cash to help you carry out the simultaneous closings in a safer way. It prevents the state and federal agents from scrutinizing your loans since you are no longer concerned with dry deals or transactions, which transfer money from the buyer to seller via you.

Jeff Wierman is an experienced real estate marketer offering quality real estate services to help people come out successfully in their real estate ventures. His specialized services like short sales, loan audit assistance and much more have brought good real estate investment opportunities for customers.

FHA Mortgage Guidlines for Florida Buyers =((97%w 530 FICO))

Friday, October 22nd, 2010 at 11:03 pm

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FHA Mortgage Guidlines for Florida Buyers =((97%w 530 FICO))

Florida FHA Mortgage Lender

Forida home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs:

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

No minimum FICO score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.

FHA Requirements:

Owner occupied, full doc, 1-4 Unit, Florida Townhome, Condo, Mobile, modular Florida home. Maximum loan size requirements vary and are determined by state and county. See (www.hud.gov) for specific information. Max LTV 97% on purchase 1-4 Florida home. Max LTV 85% on cash out refinance on 1-2 unit properties (cash out and debt consolidation are treated the same) Must own and occupy property at least 1 year with no lates or max 85% / No non-occupant co-borrower Max LTV 85% on 3-4 unit properties, loans with mortgage lates and properties owned less than 1 year. The lesser of appraised value or original purchase price will be used when property has been owned less than 1 year

FHA Guideline Summary- Full Doc

4506 required on all loans Wage Earner - 2 years W2′s and current pay stub (4506 is required and checked prior to close) Self Employed Sole Proprietor/1099 commissioned 2 years signed and dated tax returns (all schedules) YTD P & L from accountant Self Employed Partnership or S Corp 2 years signed and dated personal and business tax returns (all schedules) YTD P&L from accountant 2 years continuous employment necessary for primary borrower (does not have to be same job) Part-time jobs for any borrower must have 1 year minimum continuous employment

FHA Guideline Summary- Assets

Reserves Refi- Not Required Purchase- 3 months PITI(S&S for 3 months) required on 3-4 units only Purchase Down Payment/Funds to close Must have minimum 3% into transaction Funds must be seasoned minimum of 3 months with any large deposits sourced and explained Gifts are allowed from immediate family member Gift letter, proof of funds (S & S in donor’s account for minimum 3 months) and transfer( certified check and deposit into borrowers account) are required Down Payment assistance programs are allowed (see approved list)

FHA Guideline Summary- Credit

No minimum credit score(620 at Most Banks) Tri-merge credit bureau is required Limited or no credit borrowers are considered Use alternative – 3 tradelines for 12 months Explanations (from the borrower) are required on; All lates in last 2 years; All major lates beyond last 2 years Secured borrowing such as 401k is not inluded in DTI Collections and judgements may not have to be paid if they are>12 months old, unless they effect title or are court ordered. Tax liens may be left open if they are subordinated and included in DTI Last 12 months mortgage history must be shown on credit report, documented via institutional VOM or 12 months cancelled checks Last 12 monts rental history must be documented via 12 months cancelled checks 3 years seasoning required on foreclosure/NOD deed in lieu (extenuating circumstances considered as exception) Community property states require that DTI includes debts of any non-borrowing spouse.

FHA Guideline Summary- Past BK

Chapter 7: 2 years discharged; Exception for 1 year with extenuating circumstances beyond customer control (illness,loss of job,etc. and proof ; No derog since BK Chapter 13: 1 year since filing; Discharged already or through closing (considered cash out if closing) ; Perfect pay on BK and no other derog since CCCS: 1 year since filing; On time CCCS payments

FHA Guideline Summary- Other

Borrower may not have defaulted on any prior government loans (exceptions can be considered if the borrower has now rectified the debt with the government). Borrower may be delinquent on current non-government ARM loan if reason for delinquency is ARM re-set Debt ratio guidelines are 42/47 (exceptions can be made with AU approval or comp factors). 6% seller concessions on purchase loans Non-occupant Co-Borrower is acceptable(max LTV 85% on cash out refi) Non-permanent resident aliens are acceptable Unlimited cash out refinance

FHA Upfront and Monthly MIP

Upfront MIP-Borrowers are required to pay an upfront, one time fee of 1.75% of the base loan amount Monthly MIP-is .55%x loan amount divided by 12 (borrower will pay every month) on loans >15 yrs. 15 yrs. and less is .25%x loan amount divided by 12 For mortgages with terms 15 years and less and with Loan to value ratios 90 percent and greater, annual premiums will be canceled when the Loan to Value ratio reaches 78 percent regardless of the amount of time the mortgagor has paid the premiums For mortgages with terms more than 15 years, the annual mortgage insurance premiums will be canceled when the Loan to Value ratio reaches 78 percent , provided the mortgagor has paid the annual premium for at least 5 years

Mortgages with terms 15 years and less with Loan to Value ratio of 89.99% and less will not be charged annual mortgage insurance premiums

Florida FHA Mortgage Spcialist
Thomas Martin

http://www.fhamortgageprograms.com/florida/

http://www.fhamortgageprograms.com/mortgage/fha-loan-program.shtml

http://www.fhamortgageprograms.com/faq/fha.shtml

Download Assassin’s Creed Bloodlines Psp And Psp Go Game

Wednesday, October 20th, 2010 at 4:12 pm

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Download Assassin’s Creed Bloodlines Psp And Psp Go Game

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Bad Credit Military Loans: Make Money to Meet Your Demands

Saturday, October 16th, 2010 at 3:19 am

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Bad Credit Military Loans: Make Money to Meet Your Demands

Military is a might of this nation. And if you hail from massive military group then you can raise funds even in your credit deficit with bad credit military loans. Specifically designed military loans are best-suited to military personnel. The loan works in the same manner as other money provisions do.

Basically, there are various types of bad credit military loans. One of them is for those young military personnel who are so much active with their rigorous services that they have missed the critical years of their lives. Another lending option is for those who have honourably retired from their active services. The usual lending parameter does not apply for them even if they fall prey to bad credit remark.

The fastest way to receive your loan funds is direct deposit option which helps you get bad credit military loans as fast as 24 hours. It is the fastest and safest method of money transaction. Funds obtained through Bad credit military loans may be used to restore the prior credit. With this program, it may be done little by little which in turn lessens the burden of allotting too much money at once to repay debts.

In spite of credit crisis, Bad credit military loans remain good options especially during difficult times, as these loans secure maximum subsidy. That is why you can raise funds at very low costs.

You can meet your emergency cash demands. These are sudden car repairing, hospitalization, and other financial programs.

Bad credit military loans aim to help military personnel who need some financial supports in response to an immediate need. Sections of lenders are out there in the money market. They offer their lending services through online also. You can find a number of websites for Bad credit military loans. Herewith, by comparing different options you can cull out the best possible one.

James Martin is an internet marketing professional expert in various industries like finance and property.To learn out more about bad credit military loans, military personal loans, military payday loans, military loans http://www.militaryloans.org.uk/

Federal Recapture Tax Demystified

Wednesday, October 13th, 2010 at 8:49 pm

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Federal Recapture Tax Demystified

There I sat, at my busy, messy, yet highly efficient desk, minding my own business when out of the blue the phone rang jarring me out of my stress induced catatonia. The java, all seventeen cups, triggered a sudden barrage of heart palpitations – I was ready for the day. I made my first executive decision of the day and hit the flashing line fully prepared for any potential meltdown awaiting me on the other end of the line. Steeled for anything, I heard the voice of lovely Suzy Escrow Officer - from the unnaturally high pitch of her voice, I vibed all was not well in the LBC (Long Beach, CA).

“Hello? Yes, I have a borrower at the table who will not sign her loan documents?” ending her declarative statement as if asking a question.

“Mmmm, hmm — whyyy?” I asked dryly, lips pursed, weary of borrowers who refused to sign docs at the table for a variety of reasons.

“Well, it appears there is a tax form in the loan documents that her loan officer did not tell her about. It’s called a ‘Federal Recapture Tax Disclosure Form’ and she refuses to sign it. What should I do?”

I carefully pondered my response. Should I hunt down the loan officer, smack him (or her), lovingly of course, then insist the loan officer deal with the situation directly and possibly lose the customer while betwixt and between escrow and the loan officer all points bulletin OR should I go against my best judgment, speak with the borrower directly and risk being barraged with additional questions totally unrelated to the issue at hand and possibly lose the customer anyway? In a flash, I knew what must be done; the escrow officer must translate through me the material points on federal recapture tax. Brilliant! Suffice it to say, the buyer eventually signed the required form and escrow ultimately closed.

Yes, the oh so threatening sounding FEDERAL RECAPTURE TAX, a provision associated with programs created through the issuance and sale of tax-exempt mortgage revenue bonds, is not the big scary monster lurking in the shadows to swallow you, your family, dog and cat in one fell swoop if one should sell his/her home within nine years from the purchase date. Not even close. In fact, it is more likely a spaceship manned by little grey men will land in your front yard and throw a barbeque kegger before any punishment may be meted out by way of federal recapture tax provisions associated with public benefit subsidy programs (although partying with little grey aliens in your front yard would be way cool).

OK, back on point. In the context of tax-exempt mortgage revenue bond programs and mortgage credit certificates, borrowers receive what is defined by the Internal Revenue Service as a federal subsidy benefit or public benefit. Receiving a lower than market rate interest rate is a public benefit/public subsidy (as is the case with tax-exempt mortgage revenue bond programs). Receiving a tax credit by way of lowering one’s tax liability and then applying that credit to a new mortgage to facilitate qualifying is a public benefit/public subsidy (as is the case with mortgage credit certificates or MCCs). And don’t forget about the bond investors who originally purchased tax-exempt mortgage revenue bond paper from which the capital was raised to create these special first-time home buyer programs. The principal and interest portion of the borrower’s mortgage payment is extracted, so to speak, then passed through to the original bond investor as tax free income.

So, the federal recapture tax provision was established and written into tax law by the IRS and Congress in order to “recapture” a portion of the aforementioned public benefit subsidies and tax breaks. How does this work exactly? The maximum potential recapture tax penalty that may be assessed is equal to the lesser of 6.25% of the original loan amount borrowed or 50% of the home seller’s future net proceeds on the sale of his home.

Recapture tax triggers upon the passing of a very specific set of events: 1) The home is sold within nine years from the original purchase date and 2) the home is sold at a profit and 3) the borrower’s income exceeds federal income thresholds established in the year the home was originally purchased. In the event all three of the aforementioned conditions exist simultaneously upon sale of the home, recapture tax will trigger however it is a very rare circumstance indeed when all three conditions exist simultaneously. In fact, in my six years working as a bond administrator for a national mortgage bank, I witnessed only a handful of cases where recapture tax actually triggered on the sale of a home. That may be due to the fact that homes closed with 100% financing are not turned over at the traditional pace (5 to 7 years) like in years past as home owners are keeping their first homes for longer periods of time before moving out and up to larger homes. Another reason may be attributed to federal income thresholds which must be surpassed before recapture tax may potentially trigger. Those thresholds are set at the maximum moderate income limit established the year the home was originally purchased. It is possible, yet observedly unlikely, one’s income will exceed maximum federal income thresholds or exceed the 5% per year allowed for incomes to increase under this provision.

If at time of sale conditions 1), 2) and 3) do not apply, will recapture tax trigger? No. In the event the home is sold in year nine and one day yet conditions 2) and 3) do apply, will recapture tax trigger? No. In the event the home is refinanced, will recapture tax trigger or go away? After a refinance, recapture tax will not trigger however, the recapture tax provision will not magically disappear after a refinance either. The recapture tax provision will remain attached to the property for the full nine year window period even through multiple refinances.

There are other special circumstances where recapture tax will not trigger: 1) transfer to spouse due to divorce where no sales transaction takes place 2) transfer due to the death of the homeowner 3) home is sold at a loss to the homeowner 4) home is lost due to a catastrophic event like a fire or flood (other conditions apply).

Please note, if the home is transferred to another party through an assumption or simply transferred outright, the home is deemed sold and recapture tax may trigger. As such, the home’s fair market value as of the date of transfer will be considered the sales price. Also, the assuming party should be aware the nine year recapture window will begin anew upon completing the assumption process.

In all cases, in the context of the subject matter of this article, borrowers are strongly urged to consult an income tax professional for advice on tax benefits associated with tax-exempt mortgage revenue bond loans, tax implications specific to an individual case and filing of IRS Form 8828, if applicable.

In conclusion, when one encounters the Federal Recapture Tax Disclosure Form in a set of loan documents, it must be reviewed, completed and signed by the first-time home buyer on any purchase money real estate transaction funded with tax-exempt mortgage revenue bond program funds or closed with a mortgage credit certificate program. For more on programs specifically created for first time homebuyers of low to moderate income, go to FTHBGuru.com for an electronic copy. Copyright 2007

Esperanza Creeger resides in Dallas, TX. A 21-year mortgage industry veteran, Esperanza’s first original work, “First Time Home Buyer’s Guide: Below Market Interest Rate and Down Payment Assistance Programs” is available to the general public at FTHBGuru.com. Esperanza is currently completing her second manuscript written for the big screen, “An Akakshic Tale”. Contact 469 438 9659 or Ecreeger@hotmail.com.

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