Warning! - Phony IRS E-mail Lands In Many Inboxes
According to IRS.gov, a phony e-mail claiming to come from the IRS has recently been circulating in large numbers. The subject line is typically "Notice of Underreported Income," and the e-mail may contain an attachment or link to a bogus webpage directing taxpayers to their "tax statement." In either case, when the recipient opens the attachment or clicks on the link, they download malware including the hard-to-detect Zeus Trojan. This malicious code can take over the hard drive, giving someone remote access to the computer, or it could look for passwords and other information and send them to the scammer to gain access to bank accounts. Researchers estimate that the Zeus criminals are emptying more than a million dollars per day out of victims' bank accounts with the software, and it's the most prominent spam-delivered virus in the world right now. Please remember that the IRS does not send unsolicited e-mails to taxpayers about their tax accounts. If you receive an unsolicited e-mail claiming to come from the IRS, do not open any attachments or click on any links. Those who believe they may already be victims of identity theft should find out what to do by going to the U.S. Federal Trade Commission's website, OnGuardOnLine.gov.
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803-746-4991 Fax
San Diego, November 11, 2009
The National Association of Realtors®(NAR) was the main proponent in getting the homebuyer’s tax credit extended into 2010 and expanded to include present homeowners.
“NAR is the leading advocate for private property and homeownership issues, and firmly believes that those who are in service to their country should be full participants in the homebuyer tax credit law,” said NAR President Charles McMillan, broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “These men and women are often hindered by hardships from full participation in the American Dream of homeownership because their duty disrupts them in the buying and selling of a home.”
Two special provisions in the present tax credit law assist members of the military, intelligence and foreign services in taking advantage of the homebuyer tax credit, said McMillan.
Armed services members, as well as intelligence service and foreign service personnel, who are on active duty and out of the U.S. for 90 days during any part of 2009, get an additional year to buy their homes, to May 1, 20ll.
Another benefit is a waiver on the time of occupancy of the home purchased with the tax credit. Homebuyers who purchase their home using the tax credit must use that home as a principal residence for a period of no fewer than three years, or must forfeit the entire credit. Military, intelligence and foreign service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.
First-time homebuyers who are eligible can obtain a tax credit of $8,000. Current homeowners are eligible for a $6,500 tax credit, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years.
Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Merry Christmas
and
Happy New Year!
I am looking for land suitable for hunting within 30 minutes of Brockport for a client. Please let me know if you have or are aware of available land.
Thanks for your help!
December 3, 2009 -- Realty Times Feature Article by Broderick Perkins
Your credit score, a numerical rendition of your creditworthiness - or lack thereof - should be at 760 or above if you want the best interest rate, according to FICO, the leading credit scoring system provider.
Mortgage lenders as well as other creditors take a hard look at your credit score when you want to borrow against your home, refinance or buy anew.
If you are struggling financially as a homeowner you may be considering some of the new ways to make your mortgage more affordable, but beware.
Look beyond the savings you can net on a mortgage modification, workout or short sale and carefully consider how those savings could affect your credit score.
According to FICO, if you:
• Get a mortgage modification or short sale, expect some negative impact. There are many variables here: how the lender reports the deal; what's already on your credit report (negatives compound), etc. A loan modification or short sale are certainly less damaging than a foreclosure or bankruptcy.
Consumer Reports' Money Advisor suggests that before you enter a mortgage modification or short sale, ask how the lender will report it so you can weigh your priorities. If you need the break, take the deal sooner rather than later, even if it will hurt your credit score. Negatives on your credit file are removed after seven years. The sooner you get the clock ticking, the better.
• Are rejected for a loan several times, expect a small negative. It's the inquiries the credit scoring model sees, not the rejections. Too many rejections may indicate you are trying to pile up a lot of credit in a short time and that's deemed risky behavior.
Consumer Reports advises loan shop within a 14 to 30 day period. FICO counts all mortgage inquiries within that period as one inquiry. Also consider applying for credit in person so you can ask about the lender's requirements and your chances for approval. If one lender's underwriting standards are too tight, seek a more lenient lender, Consumer Reports also advises.
• Have a subprime or adjustable rate mortgage (ARM) on your credit report, expect zero impact. The FICO scoring system isn't privy to the underwriting terms of your loan. Keep making payments on time and or refinance to a lower fixed rate if you can and you'll keep your score intact or boost it over time.
• Get debt relief from a credit counselor, expect a ding. That's because you aren't living up to the original terms of the credit agreement. Get the help if you need it, again, the sooner you begin to correct credit problems, the sooner they leave your credit file.
Consumer Reports advises working with certified counselors from the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counseling. For housing issues, see counselors certified by the U.S. Department of Housing and Urban Affairs
• Get a "goodwill correction" from your lender, expect a positive effect on your credit score. If, say, you were late once on your mortgage and never again in several years, it can't hurt to ask your lender to remove the one ding.
• Pay the mortgage but fall behind on other bills, expect black marks that negatively effect your credit score. FICO doesn't weigh your payment history on one type of loan more than another.
Consumer Reports says there are no "less important" creditors when it comes to your credit score. Call creditors before you get into trouble and try to work something out.
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What's yours?
The embers glowed softly, and in their dim light,I gazed round the room and I cherished the sight.My wife was asleep, her head on my chest,My daughter beside me, angelic in rest.Outside the snow fell, a blanket of white,Transforming the yard to a winter delight.The sparkling lights in the tree I believe,Completed the magic that was Christmas Eve.My eyelids were heavy, my breathing was deep,Secure and surrounded by love I would sleep.In perfect contentment, or so it would seem,So I slumbered, perhaps I started to dream.The sound wasn't loud, and it wasn't too near,But I opened my eyes when it tickled my ear.Perhaps just a cough, I didn't quite know, Then thesure sound of footsteps outside in the snow.My soul gave a tremble, I struggled to hear,And I crept to the door just to see who was near.Standing out in the cold and the dark of the night,A lone figure stood, his face weary and tight.A soldier, I puzzled, some twenty years old,Perhaps a Marine, huddled here in the cold.Alone in the dark, he looked up and smiled,Standing watch over me, and my wife and my child."What are you doing?" I asked without fear,"Come in this moment, it's freezing out here!Put down your pack, brush the snow from your sleeve,You should be at home on a cold Christmas Eve!"For barely a moment I saw his eyes shift,Away from the cold and the snow blown in drifts..To the window that danced with a warm fire's lightThen he sighed and he said "Its really all right,I'm out here by choice. I'm here every night.""It's my duty to stand at the front of the line,That separates you from the darkest of times.No one had to ask or beg or implore me,I'm proud to stand here like my fathers before me.My Gramps died at 'Pearl on a day in December,"Then he sighed, "That's a Christmas 'Gram always remembers."My dad stood his watch in the jungles of 'Nam',And now it is my turn and so, here I am.I've not seen my own son in more than a while,But my wife sends me pictures, he's sure got her smile.Then he bent and he carefully pulled from his bag,The red, white, and blue... an American flag.I can live through the cold and the being alone,Away from my family, my house and my home.I can stand at my post through the rain and the sleet,I can sleep in a foxhole with little to eat.I can carry the weight of killing another,Or lay down my life with my sister and brother..Who stand at the front against any and all,To ensure for all time that this flag will not fall."" So go back inside," he said, "harbor no fright,Your family is waiting and I'll be all right.""But isn't there something I can do, at the least,"Give you money," I asked, "or prepare you a feast?It seems all too little for all that you've done,For being away from your wife and your son."Then his eye welled a tear that held no regret,"Just tell us you love us, and never forget.To fight for our rights back at home while we're gone,To stand your own watch, no matter how long.For when we come home, either standing or dead,To know you remember we fought and we bled.Is payment enough, and with that we will trust,That we mattered to you as you mattered to us."
-Unknown
Christmas will be coming soon and some credit is due to our U.S service men and women for our being able to celebrate these festivities. Let's try in this small way to pay a tiny bit of what we owe.
Make people stop and think of our heroes, living and dead, who sacrificed themselves for us.
You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here's what you have to do to get your benefit:
Documentation of Purchase
Details concerning the precise documents required to confirm your purchase have not yet been released. When this information becomes available, we will include instructions and links to the appropriate forms.
When to Apply the Credit
Buyers purchasing homes on or before December 31, 2009 may claim the credit on their 2009 tax returns.
Buyers purchasing in 2010 will have the option to:
If you, or your client, purchased a home between January 1, 2009 and November 6, 2009, please see: How to Get the 2009 First-Time Home Buyer Tax Credit.
Applying the Credit to Your 2009 Taxes
You will need to do three things to claim the credit on your 2009 tax return:
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