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University of Delaware Tuition Increasing by Nearly 10 percent for 2009

John Thomas August 7, 2009

University of Delaware Students registering for the Fall of 2009 with see a nearly 10% increase in the tuition. The increase in tuition was attributed to the need to pay for financial aid. An in-state student will pay annual tuition of $8,540 and an out of state student will pay $22,240. U of D previously announced a 6.6 percent increase in residence hall rates and a 7.5 percent increase in dining rates.

So in the middle of a recession, school is going to cost middle-income Americans more. Middle-income Americans have to pay more tuition to support the financial aid for students who can’t pay. School officials said raising tuition is the only way to pay for the financial aid U of D has promised to Delaware students. The University said the state had no money to give and gifts are tough to get in this recession so the only option was to raise tuition. Keep Reading...

Delaware First Time Home Buyer Seminar – August 15, 2009

John Thomas July 29, 2009
There will be a Free Delaware First Time Home Buyer Seminar on Saturday, August 15, 2009, at 10:00 AM and again at 1:00 PM. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Delaware FHA 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009. That is a check for $8,000 from the IRS to you at tax time just for buying a home!  The best thing is you don’t have to ever pay the $8,000 back!!

Each participant will receive a Free Audio CD on Homebuying 101, Credit Scoring Handbook, Homebuying Handbook, and an opportunity to meet with a mortgage planner to be pre-approved to buy a home at the seminar. You will also learn the importance of credit in buying a home and learn valuable tips on how to improve your credit score. Learn what programs are available to help with down payment and closing costs. The new loan limits for conventional and FHA will be covered as well as changes to borrowing 100% financing. Keep Reading...

Delaware First Time Home Buyer Seminar – Saturday July 25, 2009

John Thomas July 2, 2009
There will be a Free Delaware First Time Home Buyer Seminar on Saturday, July 25, 2009, at 10:00 AM and again at 1:00 PM. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Delaware FHA 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009 that is a check for $8,000 from the IRS to you at tax time just for buying a home!  The best thing is you don’t have to ever pay the $8,000 back!!

Each participant will receive a Free Audio CD on Homebuying 101, Credit Scoring Handbook, Homebuying Handbook, and an opportunity to meet with a mortgage planner to be pre-approved to buy a home at the seminar. You will also learn the importance of credit in buying a home and learn valuable tips on how to improve your credit score. Learn what programs are available to help with down payment and closing costs. The new loan limits for conventional and FHA will be covered as well as changes to borrowing 100% financing. Keep Reading...

Delaware Mortgage Rates – Friday – June 26, 2009

John Thomas June 26, 2009

This is my advice on floating or locking your loan for Friday, June 26, 2009.

Mortgage Rates jumped up on May 27, 2009, because mortgage-backed securities sold off and dropped like a rock. When the price of the bonds go down rates go up. Mortgage Rates again dropped even more on June 4, 2009. Rates hit 6.0%.  This left many borrowers shocked and amazed because they were holding out hoping rates go even better then they were before May 27th. Hopefully, consumers learned a valuable lesson. Will rates get back to the 4s? Most people in the know don’t think so. Keep Reading...

Delaware First Time Home Buyer Seminar – June 20, 2009

John Thomas May 31, 2009

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, June 20, 2009, from 10:00 AM till Noon. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Delaware 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009, that is a check for $8,000 from the IRS to you at tax time just for buying a home! The best thing is you don’t have to ever pay the $8,000 back!! Keep Reading...

First Time Home Buyer Tax Credit for 2009

John Thomas May 31, 2009

Here are the highlights for the First Time Home Buyer Tax Credit for buying a home in 2009.

  • 10% of Sales Price up to $8,000
  • Have not owned a home in the last 3 years
  • Don’t have to pay it back
  • Must buy by December 1, 2009
  • May amend 2008 tax return to claim money right after settle
  • Income phase out starts at $75,000 for individuals and $150,000 for joint filers
  • $4,000 max for a married person filing separately
  • Must live in the property as a principal residence for 36 months or have to pay full tax credit back
  • Credit is applied for on IRS form 5405
  • You cannot take credit if but home from a close relative
  • FHA just came out with Mortgage Letter for homebuyers to take tax credit before they buy a home as a loan from an acceptable source. Cannot use toward 3.5% minimum down payment for FHA Loan.
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    Delaware First Time Home Buyer Seminar – April 18, 2009

    John Thomas April 8, 2009

    There will be a Free Delaware First Time Home Buyer Seminar on Saturday, April 18, 2009, at 10:00 AM. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Delaware 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009.  That is a check for $8,000 from the IRS to you at tax time just for buying a home! The best thing is you don’t have to ever pay the $8,000 back!! Keep Reading...

    New $8,000 Tax Credit for Delaware First-time Home Buyers

    John Thomas March 30, 2009

    Great news for first-time home buyers in 2009! The stimulus plan that President Obama signed into law contains a new $8,000 tax credit for qualified first-time home buyers. And, unlike the $7,500 tax credit from last year, this credit does NOT have to be repaid to the government, as long as you stay in the home for at least 36 months after the purchase date. Remember, a tax credit is much more valuable than a tax deduction. A tax credit reduces dollar for dollar the amount of tax you owe. A deduction merely reduces the amount of your income that is taxable. This means the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Who?
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