Did you or someone you know file for first time home buyers tax credit?   The IRS has been rejecting first-time home buyer claims from anyone who shows a Form 1098 Mortgage Interest Expense in their prior year files. In many cases, the applicants are entitled to the credit because their previous mortgage interest deduction is for a timeshare, mobile home, boat, or other recreational property. If you know someone who is in this unfortunate position, here is some advice from Enrolled Agent Eva Rosenberg, who authors the Web site TaxMama.com. • Respond to the IRS immediately and tell them why their ...

June 18, 2010 by Amy Willis

Pending home sales have risen for three consecutive months in Corpus Christi homes, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the NATIONAL ASSOCIATION OF REALTORS®. Corpus Christi Realtors state that the Pending Home Sales Index, a forward-looking indicator, rose 6.0 percent to 110.9 based on contracts signed in April, from an upwardly revised 104.6 in March, and is 22.4 percent higher than April 2009 when it was 90.6. That follows gains of 7.1 percent in March and 8.3 percent in February. Pending home sales are at the highest level since last October when the index reached 112.4 and first-time ...

June 10, 2010 by Amy Willis

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