Can you help out a friend?

Do you know someone that would like to purchase a home? If so, there are a few new programs on the market designated to get prospective homeowners info for foreclosed properties. One program is cslled Your Way Home AZ. The benefit with YWHAZ is when purchasing a foreclosed home, you may be eligible for an interest free no monthly payment laon for up to 22% of the homes purchase price. The biggest factor in thiss program is that if you stay in the home long enough, the loan is forgiven. (5 years for $15,000 or less borrowed; 10 years for $15,001 to $40,000; and, 15 years if over $40,000). The maximum first mortgage amount is $246,250 (FHA Maricopa County limit).

First time buyers tax credit:

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit up to $8,000 for qualified first time home buyers purchasing a principle residence before 12/01/09. The tax credit is equal to 10% of the homes purchase price up to a maximum of $8,000. The income limit for qualification is $75,000 for single tax payers; the limit is $150,000 for married taxpayers filing a joint return. Please call me for more inormation at 480-353-8231 or email me at jeannine.mona@russlyon.com