First Time Home Buyers Seminar

This morning I headed down to the Semonin office and attended their free First Time Home Buyers Seminar. It was very informative and gave me some hope. First I was saddened to know that by October 1st, 2008, they will be doing away with the Genesis Foundation. That means any gifts you thought you could receive for down-payment assistance (for instance Ameri-Dream) is going away. That also mean that you will require a down payment for a home purchase. They also will be having a new tax credit for home purchased April 9, 2008-June 30, 2009 for First Time Home Buyers up to $7500. This is to help provide a stimulus to the housing market and the economy. You just cannot have a combined income with your spouse of over $150,000 per year. This is good to know and I'm glad I attended. As soon as the hubby wakes up I have to explain that we need to get in high gear and buy soon. Interest rates in our area are fabulous.