Happy Thanksgiving!

I have so much to be thankful for with family, friends, clients and business partners like you. This Thanksgiving, as you're gobbling up goodies with your friends and family, just know that I'm extremely grateful to be a continuing part of your life. Have a wonderful holiday!

Energy Assistance for Baltimore City Residence

Hi,
Attached is a flyer with information to apply for assistance with your Baltimore Gas and Electric Bill on Nov. 7, 2009(http://d.yimg.com/kq/groups/9366300/890015273/name/BCCC) . While the event has passed, the program does still offer assistance.  Pass the word. You never know who might need help or knows someone who does.
 
Thanks,
Niecie

Job Opportunities -

Hi There!

I know that high unemployment continues to be a problem for the country. Please forward to anyone that you know that may be interested!

Job Opportunities


• SNVC Proprietary Data has an opening for long term position - Technical Engineer in Fort Huachuca, AZ. If interested, contact C. Lorraine Garvin at lorraine.garvin@snvc.com . If you want a copy of the job description, send me an email at pmoore@pressonwebzine.com.
• First Baptist has a full-time position open for a couples director and assistant director. For more information, visit http://www.fbcglenarden.org./

• Here is a job link or website to Maryland State Job Openings – http://dbm.maryland.gov/jobseekers/Pages/Jobsearch.aspx.  This page contains information regarding current job openings with the State Personnel Management System covering all job categories and targeted recruitments; refer to the information on the right for direct links to specific state agency websites, including those agencies with independent personnel systems, as well as information regarding Internships.

Thanks,
Niecie

FREE HEALTH INSURANCE , Mammograms & Paps for Women in DC Area

Are you a female between the ages of 40-64 living in Washington, DC? Do you need health insurance? The Capital Breast Care Center provides mammograms and pap tests to women regardless of their ability to pay. During your visit, you may be eligible for enrollment in Project Wish! This health insurance will allow you to receive free mammograms and pap tests!
When: Anytime

Where: 650 Pennsylvania Ave. SE Suite 230, Washington, DC 20003
 
Contact: Capital Breast Care Center at 202.784.2700 for an appointment.

Here's an Update on the Appraisal Law HVCC. Have u signed the petition?

Hi Everyone,

I just wanted to give you and update on the HVCC Petition.  If you haven't signed the petition, please do so at http://www.hvccpetition.com/.  See my Notes page on Facebook for more info on HVCC and what it means to you (www.facebook.com/nieciedraper).

Thanks,
Niecie
---
Frank and Brian are in New York presenting the HVCC Petition to Cuomo's office right now (117,394 individually printed petition signature pages). Be sure to stay tuned in to the TBWS Daily for the latest updates directly from New York. Mark Savitt from NAMB is with them and it looks like they already have Fox News and CNBC covering our collective efforts to get rid of HVCC once and for all. The three of them are making it clear to everyone that this is not the end of battle, but just the beginning, and we will not abandon this petition or our efforts to get rid of HVCC until HVCC is Gone! We are quickly moving from a "minor annoyance" to a "major pain in the @$$" for everyone in support of HVCC and we need to put the pressure on more than ever so please keep forwarding the petition site to everyone you know. Everyone that has anything to do with the real estate industry has an obligation to join us in our effort to make their lives and industry better. We are ramping up our efforts in a big way right now and we plead with you to do the same.
Thanks so much for your continued support!

HVCC PETITION SUMMARY (http://www.hvccpetition.com/)

117,394 signatures collected and printed as of 11-16-2009

97,234 of the signatures are confirmed as valid unique petition signers

The 20,160 non-verified signatures collected were not counted in the formal total but were included in the printing for the following reasons.
1.A large percentage of them are believed to be valid but some information was missing.

2.Though thousands of them appeared to be duplicate signatures they contained new horror stories of HVCC victims. Many Real Estate professionals appeared to be trying to submit fresh stories of how their most recent clients were directly harmed by HVCC. We felt those stories were relevant and worth including, especially since the new victims listed could be contacted through the signer listed.

3.A few of the duplicates appeared to be a previous signer attempting to update their signature with formal authorization to pass their information along to the press/media since that feature was added to the petition several weeks after it was launched.

39.6% of the petition signers were mortgage originators
29.8% of the petition signers were real estate professionals
17.4% of the petition signers indicated they worked in some other facet of the industry
The remainder of the petition signers were primarily homeowners or potential home buyers

Polls - In addition to the petition itself, we have conducted a number of online surveys to real estate industry professionals regarding HVCC. Each poll question was preceded by an emphatic plea to respond with accurate and verifiable data only. Even so, we acknowledge that the polls were not conducted in a scientific and controlled manner so the results may not be 100% accurate, but the story they tell is still very revealing.


How did your last "purchase" HVCC appraisal compare to the contract price?

533 - A. At or above purchase price.
151 - B. Low - but less than 3%
224 - C. Low - Between 3% and 6%
262 - D. Low - Between 6% and 10%
278 - E. Low - Between 10% and 20%
170 - F. Low - More than 20%

How could we best stabilize home prices?
407 - A. Extend the $8,000 tax credit.
144 - B. Increase high balance conforming limit to $1MM.
257 - C. Bring back Seller Funded Down Payment Assistance.
1025 - D. End HVCC.

How many of your transactions have died due to HVCC?
128 - A. 0
152 - B. 1
187 - C. 2
794 - D. 3 or more

Do you think HVCC could kill Fannie Mae?
208 - A. Yes. FHA is easier, so less FNMA loans will get done.
96 - B. No. As long as they need help, the Fed's will give it.
35 - C. I'm not sure, but I'd like to see some real data on it.
54 - D. I'm not sure, but given the choice - I'll go FHA every day.
94 - E. Both C and D.

It's Official - The Homebuyer Tax Credit has been Extended and Expanded!

On November 6, 2009, President Obama signed a bill to extend the tax credit for first-time homebuyers (FTHBs) through June 30, 2010. The bill also opens up opportunities for others who are not buying a home for the first time. Below is an overview

Tax Credit for Homebuyers


First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

Tax Credit Versus Tax Deduction
It’s important to remember that the tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!
Higher Income Caps
The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sale price of $800,000.
------------------------

Remember, the new tax credit program includes a number of details and qualifications. For more information or answers to specific questions, please call or email me today.

In addition, you may be able to benefit from additional housing related provisions, including the following:

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Tax Incentives to Spur Energy Savings and Green Jobs
This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
Landmark Energy Savings
This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing
This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs. Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance
This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

As always, if you have any questions about your specific situation or would like to discuss how you may benefit from this program, please call or email me. I’ll be happy to sit down with you.

Niecie
202-812-3118
Niecie@NiecieDraper.com

Fannie Mae: "Deed For Lease" Program Will Let Thousands Rent Out Homes To Avoid Foreclosure

Gobble Up Some Goodies With November's YOU Magazine

Unemployment Extension Delivers & Expands Home Buyer Tax Credit!

H.R.3548, Short title Worker, Homeownership, and Business Assistance Act of 2009 sponsored by Democrat James McDermott of Washington was passed by the House of Representatives late yesterday afternoon (11/5/09) and is expected to receive the approval of President Obama possibly as early as today.

While the bill's focus is the 13 week extension of unemployment benefits it became the obvious vehicle to carry an extension of the Home Buyer's Tax Credit. Highlights of this last minute amendment are below:

> A purchase transaction will qualify for home buyers entering a binding contract before May 1, 2010 with a closing date before July 1, 2010.

> The credit is up to $8,000 for a married couple. ($4,000 individual)

> The original tax credit provision is expanded to include purchasers who have resided for 5 consecutive years (out of the past eight years) in their primary residence to qualify for a tax credit of up to $6,500 ($3,250 individual) on the purchase of a new primary residence.

> Income levels have increased to $125,000 (single was $75,000) and $225,000 (couple was $150,000).

> If the purchase price is greater than $800,000 no credit is allowed.

> Persons stationed outside the United States on official duty for 90 days during the period after 12/31/2008 and before 5/1/2010 will have eligibility extended for binding contracts signed before 5/1/2011 and closed before July 1, 2011.
The National Association of Realtors expects this extension to allow another 2 million purchases to occur before it terminates on 4/30/10.

For more information on this or other mortgage, real estate or credit related questions be sure to email me at Niecie@NiecieDraper.com