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Cheaper, Safer Household Cleaner

by The Mike Parker Team

Looking for cheaper, safer household cleaner??  If you're like me, you are trying to tighten the strings on your budget and keep the enviornment a little safer by going green.  There is a new show on Planet Green called Wasted and in this show they give you tips on going green while saving you tons of money!!!

One of these great ideas is making your own household cleaner.  It's safer because exposure to cleaning products can reduce your lung function and increase the risk of asthma by 30% - 50%.  You can make an all purpose cleaner by mixing water, baking soda and vinegar together and storing it in a mason jar!!  This takes less than a minute to mix up and it can save you at least $250 a year in cleaning supplies!!! 

For other great recipes for all kinds of cleaners visit click here!!  My personal favorite is all the uses for vinegar!!!  Try them...they really work!!!

We just received information regarding Shaun Donovan announcing the recovery acts homebuyer tax credit can immediately help thousands of first time home buyers to buy a home.  Please see the article below:

U.S. Department of Housing and Urban Development - Shaun Donovan, Secretary
Office of Public Affairs, Washington, DC 20410
HUD No. 09-072                                                          FOR RELEASE
Lemar Wooley                                                            Friday
(202) 708-0685                                                          May 29, 2009
http://www.hud.gov/news/index.cfm


DONOVAN ANNOUNCES RECOVERY ACT'S HOMEBUYER TAX CREDIT CAN IMMEDIATELY HELP THOUSANDS OF FIRST-TIME HOMEBUYERS TO BUY A HOME
FHA plan will stimulate new home sales and help stabilize housing market



WASHINGTON - Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration's new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today's action will help stabilize the nation's housing market by stimulating home sales across the country.

The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today's announcement details FHA's rules allowing state Housing Finance Agencies and certain non-profits to 'monetize" up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA's new mortgagee letter, visit HUD's website.

"We believe this is a real win for everyone," said Donovan. "Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation's housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away. At the same time we are putting safeguards in place to ensure that consumers will be protected from unscrupulous lenders. What we're doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing."

Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent downpayment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today's announcement, lenders can now monetize the tax credit for use as additional down payment, or for other closing costs, which can help achieve a lower interest rate. Buyers financing through state Housing Finance Agencies and certain non-profits will be able to use the tax credit for their downpayments via secondary financing provided by the HFA or non-profit. In addition to the borrower's own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the downpayment. Today's action permits the first-time homebuyer's anticipated tax credit under the Recovery Act to be applied toward the family's home purchase right away. Unlike seller-funded down-payment assistance, which was a vehicle for abuse, this program will allow homebuyers to shop for the best home price and services using their anticipated tax credit.

According to estimates by the National Association of Home Builders, the Administration's homebuyer tax credit will stimulate 160,000 home sales across the nation - 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing homeowners will be able to buy another home because a first-time buyer purchased their home. Given FHA's current market share, it's estimated that thousands of families will be able to purchase a home by allowing the anticipated tax credit to be applied toward their purchase together with an FHA-insured mortgage.

Homebuyers should beware of mortgage scams and carefully compare benefits and costs when seeking out tax credit monetization services. Programs will vary from organization to organization and borrowers should consider whether the services make sense for them, as well as what company offers the most suitable and affordable option.

For every FHA borrower who is assisted through the tax credit program, FHA will collect the name and employer identification number of the organization providing the service as well as associated fees and charges. FHA will use this information to track the business closely and will refer any questionable practices to the appropriate regulatory agencies, as necessary.


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HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

What You Don't Know Can Hurt Your Credit

by The Mike Parker Team

What you don't know about your personal credit may acutally hurt your credit.  When was the last time you saw a copy of your personal credit report?  If you haven't checked it recently, it might be time to go ahead and get a copy.  Especially if you are considering purchasing real estate in the near future.

It is estimated that 2 out of 5 people have the wrong information on their credit reports.  Incorrect information can cause long delays in the approval process and can be the basis for denial of credit, including a mortgage.

The time to check with the three major credit reporting agency is when you don't need the credit.  It sometimes can take months to straighten out any problems and you don't need the added stress while you are going through the homebuying process.

There are three major credit reporting agencies - Experian, Equifax, and Trans Union.  Because they operate differently, it is wise to check with all three.  By law you are allowed to check your credit with each of these agencies once a year.  A little secret:  Check each agency every 4 months and you'll keep yourself in check with your credit year round!  You can either do it on-line or by phone. 

$8000 Tax Break Can Now Be Used As Down Payment!!

by The Mike Parker Team

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the
Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment.  WOW!!  What a great time to buy a new home!!! 

Shaun Donovan's remarks came in address to The National Association of Realtors Real Estate Summit today. An excerpt from the press release on the NAR's website is listed below:

Secretary Donovan said that important changes, which the National Association of Realtors® has been calling for, will help consumers purchase a home. "We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment," Donovan said. According to Donovan, the FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Donovan said the Obama administration plans to further stabilize the housing market. "I do think we have some early signs hat the market overall is stabilizing," said Donovan. "Since January we've seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate."

For the entire article, click here!  If you are in the market for a new home or have more questions about the $8000 tax credit, contact The Mike Parker Team today!!!

Home Repairs You Shouldn't Ignore!

by The Mike Parker Team

Looking to do a little spring cleaning and while your at it, do those home repairs you've been putting off?  Recently Bob Markovich from Consumer Reports magazine tells the TODAY SHOW about some important home repairs that will save you money in the future.  Check it out!!

Visit msnbc.com for Breaking News, World News, and News about the Economy

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Mike Parker - CRS
HUFF Realty
60 Cavalier Blvd.
Florence KY 41042
859-647-0700