Posted on Wednesday, 10th February 2010 by chrisjones

Many people have been asking recently how the Federal tax credit works for home purchases.  Here is the straight dope:
If you:

Have not owned a home in the last 3 years (this means you have not been on the title of a primary residence)
Have income less than $250,000 last year
Are purchasing a home less than $720,000 [...]

Tags: $8000 tax credit, federal tax credit, mortgage tax credit
Posted in Ask The Magician & FAQ, Blog & News, Finance 101, General | Comments (1)

Posted on Tuesday, 16th June 2009 by chrisjones

Lehi Utah is my home on purpose.  I grew up outside Washington DC in a sprawling suburb, but spent a lot of time in the city and got to know it pretty well.  I like cities.  They’re fun.  I’ve been to most of the big ones in the US (with the sole exception, I think, [...]

Tags: 3/50 Project, Lehi Utah, Local First Utah
Posted in Ask The Magician & FAQ, Blog & News, General | Comments (2)

Posted on Wednesday, 25th March 2009 by chrisjones

There’s a poll on Ad Age’s website asking the question: Is Now the Time to Consider a Media Campaign to Get Consumers Spending Again?
Not too surprisingly, since the poll is being held on an advertising website, the response is running heavily in favor of “yes”.  But even if it weren’t, I think that would be [...]

Tags: budgeting, Financial Defense, stimulus
Posted in Ask The Magician & FAQ, Blog & News, General | Comments (4)

Posted on Wednesday, 4th March 2009 by chrisjones

The government unveiled the Home Affordable Modification (HAM) program today, and the provisions are interesting, exciting, and devastating, depending on who you are.
First the interesting part.  If you are:
1. Anyone with an FHA or VA loan
2. Anyone that doesn’t own a home
3. Anyone that has a mortgage greater than $729,750 (don’t ask me, I didn’t [...]

Tags: HAM, mortgage lending, mortgage modification, pork
Posted in Ask The Magician & FAQ, Blog & News, Finance 101, General, Rate Watch | Comments (1)

Posted on Thursday, 12th February 2009 by chrisjones

Most of you know there has been, for about 9 months, a $7500 tax credit for first-time homebuyers for anyone that buys a house from April 2008 to July 2009.  The new “stimulus” package currently wending its way through Congress contains a modification of that credit.
The Senate version of the bill had an increase in [...]

Tags: markets, stimulus, tax credit
Posted in Ask The Magician & FAQ, Blog & News, Rate Watch | Comments (0)