Looks like the new form came out just in time for all the new home buyers that will be taking advantage of the governments extention of the tax credit. As post about the details for this tax credit before from Homebuyer Tax Credit, I have put direct links to the IRS website for your easy access to the forms and exact guidelines directly from the IRS.
Hope this helps, have a glorious day! 
http://www.irs.gov/newsroom/article/0,,id=218336,00.html?portlet=7
New Homebuyer Credit Form Released; Taxpayers Reminded to Attach Settlement Statement and Other Key Documents
continue reading » |
I grew up watching the Cubs play, and remember my first trip to Wrigley Field when I was 13. Walking up those stairs from the dark old stadium and seeing that bright sunny field, hearing the crack of the bat during batting practice was awesome. During my time of watching the Cubs, my friends and I would imitate the players as we would swing the wiffle ball bat. My friend would be Ryne Sandberg……….I would be ANDRE DAWSON!!! Would even do the batting stance and bat movement before the pitch. What great memories and congrats to Andrew Dawson for his election to the baseball hall of fame. I just hope he wears the correct hat when entering the hall of fame……….the Cubs hat!
I would like to think the reason why he made it in this time was because of those crazy Cubs fans over at www.cubscast.com because they had a big twitter campaign under the hash tag #dawson4thehall which got 1677 tweets. Way to go guys!
It is only fitting to end this post with……….a HAWK CHOP! HAWK CHOP! HAWK CHOP!
Have a glorious day!
This is unfortunately the way self employed borrowers must ask this question because of the underwriting standards and the box us lenders put them into. This is always a very complicated process for them to be approved but here is some simple ways to find out if a self employed borrower has a chance.
1. Have you been self employed for 2 years?
2. What is your bottom line on your tax returns? (lenders will add back in some depreciation BUT if a borrower writes off a lot on their taxes then lenders will look at the same for income.)
3. Does your business have a license and can we have a third party like a CPA verify your past 2 years work?
4. The rest is your credit, and do you have money (assets).
There is definitely a lot more involved, but at least the above can help get a person started. Looking for any more comments on this and see if there is anything else people have ran into.
Have a wonderful time in this 2010!!!
