Houston Consumer Blog

NEW HELP FOR UNEMPLOYED HOME OWNERS

Out of work home owners are about to get some help keeping their homes.

Changes to the Making Home Affordable Program would allow unemployed home owners to pay a reduced amount.  Under the plan a home owner would be allowed to pay only 31% of their income on their mortgage for up to six months.

The plan would also pay mortgage companies to reduce the amount a home owner owes if their home is worth less than the current loan value.

Interested home owners are being told to contact the Making Home Affordable Program, here's the link to that website.

http://makinghomeaffordable.gov/

Home Buying Tax Credits slipping away

April 30th is the deadline for anyone who wants to take advantage of the 8000 dollar new home tax credit or the 6500 dollar repeat home buyer tax credit.

The tax credits can still be had, but time is running out because it takes 30 to 45 days to get the paper work and loan applications processed.

There are many questions about the tex credit, and here is a link to the answers:

http://www.federalhousingtaxcredit.com/key_info.php