Foreclosure and Tax Credit Info

Everyone knows someone who has been touched by these difficult financial times. We get calls every week here at my office from clients and friends who are facing tough decisions. Some people are in a bad situation and are losing jobs, having to move out of state to find work, trying to sell a house that is worth less than they owe the bank or having to deal with losing a home to foreclosure.

Other people are calling because they want to take advantage of the market and buy a house, get the federal tax credit for buying a home this year or buy foreclosed homes for investments.

So, below is a list of topics and links to places where I think you will find the best and most current information.

Learn about foreclosure from the Department of Housing and Urban Development (HUD) - click here

HUD offers a re-finance option to help get payments down for struggling homeowners - click here

There is an $8,000 tax credit for home buyers even if this is not your first home - click here

If you want to go deep on the tax credit the IRS site has more information and detail. - click here

What is a short sale? Is it right for you? This is an interesting Business Week article - click here

The State of Michigan also provides information on foreclosures and what to do - click here

What is the Loss Mitigation Department and what do they do? - click here

What Tax Credits are available for energy efficient home improvements? - click here