Elagene Trostle's Page

If I’m qualified for the tax credit and buy a home in 2010, can I apply the tax credit against my 2009 tax return?

Yes. The law allows taxpayers to choose (“elect”) to treat qualified home purchases in 2010 as if the purchase occurred on December 31, 2009. This means that the previous year’s income limit applies and the election accelerates when the credit can be claimed. A benefit of this election is that a home b

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$100 Down on HUD foreclosures is a great way to purchase a home
with a full price offer.

Can you really buy a HUD home for a total of $100? Absolutely not! But if
you're a qualified buyer, you can use an FHA loan to buy one of HUD's
specifically designated homes for sale -- with only a $100 down payment!

For a limited time, $100 down payments are available to owner-occupied home
buyers when purchasing a HUD home (foreclosure) for full price and using an FHA-insured new
home loan.

For more inf… Continue

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers - or anyone who hasn't owned a home in the last three years - would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30, 2010. The credit is available for the purchase of primary homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for… Continue

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers - or anyone who hasn't owned a home in the last three years - would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30, 2010. The credit is available for the purchase of primary homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for… Continue

Payment Abatement - What is that? Another great way to sell or purchase a home!!!


Builders and Sellers can offer to pay the buyer’s interest for up to the first 6 months of the note

The builder/seller can pay out of the maximum seller contribution (seller paid closing costs) the buyers interest on their new mortgage for up to the first 6 months of the note on a primary home.

For Example:

Purchase price $180,000; 96.5% LTV; Loan amount $173,700

6% seller paid closing cost; interest rate of… Continue