The information on this page pertains to the American Recovery and Reinvestment Act of 2009.
The tax credit is for first-time home buyers only.
For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
For the first time in more than 30 years, the U.S. Department of Housing and Urban Development has issued long-anticipated mortgage reforms that will help consumers to shop for the lowest cost mortgage and avoid costly and potentially harmful loan offers. HUD will require, for the first time ever, that lenders and mortgage brokers provide consumers with a standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. HUD estimates its new regulation will save consumers nearly $700 at the closing table.
Middlesex County, North District and South District, Registries of Deeds are accepting the electronic filing of documents. That means settlement and escrow agents may file real estate documents with the Registry of Deeds remotely by scanning the documents and submitting them through a third party vendor.
Our office is fully equipped to take advantage of this service and we have recorded several documents and transactions electronically with both district registries. If you have a real estate transaction in either county we can assist you with the convenience of electronic filing.
