Archive for the ‘Ask The Magician & FAQ’ Category

“Stimulus” Tax Credit Update

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 the credit to $15,000, made it for ALL homebuyers, and removed the payback provision of the original.  The conference committtee, however, has downsized that credit to $8000, rolled it back to just first-time homebuyers, and protected only the 2009 January to August purchasers from repaying.  If you bought last year, in other words, you get another $500 but you still have to pay the credit back over 15 years.

Personally, I hate it when Congress does most anything, but this back-and-forth, you get the credit but you don’t silliness is not going to help the markets at all.

The credit is targeted at the wrong people, timed incorrectly, is a tax-accounting nightmare and overall one of the stupidest non-ideas I can remember.  And I like tax credits.

More here.

What is Rate Watch?

Rate Watch by Chris Jones is broadcasted Monday through Friday via email. You can expect to read information on current rates and commentary by Chris Jones, Resident Magician and industry tracker. on what is happening in the industry and how it may affect you. It is a quick, easy, and accurate way to learn what the rates are in today’s market.

Chris Jones understands how the market works, and the products it produces. He understands how everything from the weather to CNBC reporting influences the mortgage rate you pay. He can’t always forecast accurately which direction rates are headed, but he knows the landscape. Chris Jones is a tracker. He is the guy to talk to. He can help anyone with a mortgage, or anyone that works with people in real estate, save money on mortgage interest.

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What is the “Pontificating Potty Post?”

The “Pontificating Potty Post” is our printed newsletter.  The Chris Jones Group now distributes it to over 900 people across the USA.  The Post goes out every few months, and is designed to be something you can relax with and find useful.  We get positive feedback all the time.

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  • A Feature article by Chris Jones, Resident Magician and Branch Manager of The Chris Jones Group
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