I just received notification from the USDA that their funds are set to exhaust by the end of April. Usually, they issue a "Conditional Commitment "subject to receipt of appropriate funds". They are indicating that this year they will not be doing so as they are not certain when additional funding will be available.

So, if you are looking for a home now and planning on using a USDA Guaranteed Rural Home Loan to purchase it, you better act quickly!!

Usually funds run out in September or November and new funding is allocated quickly. The fact that they are running out in April attests to the growing popularity of this program. Congress will allocate new funds, and it might be quickly, but, do you really want to wait?

Call me if you have any questions on this.

I've started a new blog on Appreciation Marketing. I help small business men and women become more successful through gratitude.

Do you love SENDING Christmas cards?  I know you probably love touching people's lives with them, but do you love the PROCESS of sending Christmas cards?  Me neither.  Or at least that's the way I used to be.

You are probably aware that I have been using a tool called SendOutCards for awhile now.  Last year, I sent 300 Christmas cards in under 20 minutes. That's not an Ecard but a real physical card, printed stuffed stamped addressed and mailed through the US Postal service. 

Just the other day, a friend of mine sat down and created a video where He sent 100 cards in under 5 minutes.  Want to see how he did it?  Here is that quick video:  http://screencast.com/t/MjFhN2VjMWI
Crazy, huh?

So here is my early Christmas gift to you.  I am going to give you TIME!  Time is the one commodity that can never be replaced.  Money can earned again, clothes can be bought again, but time can never be regained.  Well, in this busiest time of year, I am going to give you precious hours and probably save you money at the same time. 
 
How?  Most of us spend Hours if not days doing our Christmas cards. They get more and more expensive, take more and more time to produce and so we send fewer and fewer cards.

Well, I have teamed up with SendOutCards Senior Manager John Riding and Executive Everett O'Keefe to put on a fun, lively Christmas Card webinar THIS THURSDAY at Noon.  If you can make it, it will be worth your while because we will show you how to add hours of extra time to your holiday season and feel great about sending out your holiday cheer with very little effort and lots less expense!
Register right here:  https://www1.gotomeeting.com/register/846310641
Use Registration code (24238)

Even if you can't make the time slot, register anyway, and we will send you a link to the recorded webinar!  Yes, that way you can watch it whenever you like!

So register right now at https://www1.gotomeeting.com/register/846310641
Make sure you use Registration code (24238)

See you soon!

P.S.  Want to be the hero at your home or office?  Share this email!  Or post this link (https://www1.gotomeeting.com/register/846310641) on your Facebook, Twitter, LinkedIn, etc.  Your friends, family, and coworkers will thank you!
Make sure you give them this Registration code (24238)

St Helens Oregon Starter Home

 3 Bd/2 Bth for $153,500
RMLS # 9079926

35477 Oakwood, St Helens OR 97051

 This St Helens, Oregon Home qualifies for 100% Financing!!
and
the extended $8000 Homebuyer Tax Credit

USDA Guaranteed Rural Home Loan Program 
  

Check out more pictures of this house by

CLICKING HERE!

Beautiful 3 bedroom, 2 bath townhome close to a Campbell and McCormick Parks and downtown. Pictures and words do not do this home justice.
This is a MUST SEE.

The above rates are based on acceptable credit, the ability to fully document your income and meet all appropriate lender guidelines. These rate meant to be an example of what you could expect and are subject to change at any time due to market conditions or lender program changes.
or a Good Faith Estimate based on your unique situation, please contact Larry Morris below.

St Helens is an excellent town for first time homebuyers. It is a beautiful, small town on the Columbia River. Located just 18 miles from Vancouver, 25 miles from Portland and 20 miles to Longview, WA, St Helens is closer to Portland's job center then most people realize. Home to some of the best kayaking, sailing and fishing in Oregon, St Helens is a gem waiting to be discovered.

It's also close enough to Portland to take advantage of all Portland has to offer, but far enough away for home prices to be reasonable.

Listed by:

Todd and Leslie McCabe
John L Scott Real Estate

Contact Broker

St Helens First Time Home Buyers are able to purchase a home with:
100% Financing with NO monthly Mortgage Insurance
$0 Down Payment
Up to 6% Seller Concessions that can be applied towards your Closing Costs.
Simplified Appraisal Process

There are Income Qualifiers. You can't make to much or to little.

Find out if YOU qualify..

Get Pre-Approved today!!
OR
Local Clients Call: 503-421-0096
Not in the Area? Call: 1-888-660-2842 and Ask for Larry

View all of our FEATURED HOMES here!!

Use our FREE Search Engine to find your Oregon Home.

More Oregon Homebuyers Qualify for Homebuyer Tax Credit

President Obama has just signed an expanded version of the $8,000 first time home buyer tax credit that was set to expire on November 30. This will allow more Oregon homebuyers, both first time homebuyers and move up homebuyers, to qualify for the tax credit.

The new version of the tax credit has the potential to stimulate the housing market even more than the old version due to the fact that more Oregonians will qualify under the new rules. Although the tax credit remains at $8,000 for home buyers that have not owned a primary residence in the last three years, it has been expanded to include a $6,500 tax credit for home buyers that have lived in their current primary residence for at least five consecutive years out of the past eight years. Under the old rules, move-up home buyers did not qualify.

Consider these three examples:

Example 1:
Jane purchased a home in 2002, lived there for 5 years as her primary home, moved
out in 2007, and turned that home into a rental property. If Jane decides to buy a
new primary residence today, she would qualify for the $6,500 tax credit based on
the fact that she lived in the same residence as her primary home for at least five
consecutive years out of the past eight.

Example 2:
Harry purchased a home in 2004, and lived there for the past 5 years as his primary
home. If Harry decides to buy a new primary residence today, he would qualify for
the $6,500 tax credit based on the fact that he lived in the same residence as his
primary home for at least five consecutive years out of the past eight.

Example 3:
Nicole purchased a home in 2006, and lived there for the past 3 years as her primary
home. If Nicole decides to buy a new primary residence today, she would not qualify
for the $6,500 tax credit based on the fact that she did not live in the same residence
as her primary home for at least five consecutive years out of the past eight.

The tax credit applies to Oregon homes purchased for less than $800,000 before May 1,
2010. If you sign a binding contract to purchase a home before May 1st, you would
need to close on the transaction before July 1, 2010. It works kind of like a gift certificate that can be redeemed for cash. You simply file a form with the IRS right after you buy your home, and the IRS will send you a check for the full amount of your credit.

The income limitation for single tax payers in Oregon went up from $75,000 under the old rules to $125,000 under the new rules. For married tax payers, the income limitation went up from $150,000 to $225,000.  This means that more people will qualify for the credit - especially in parts of Oregon with higher costs of living. This should help stimulate parts of the housing market that may not have been impacted by the old version of the credit. As an example, earlier this year I helped a single Fire Fighter get into a townhome. He works a lot of overtime and makes around $90,000 per year. This disqualified him for the tax credit under the old rules, but he would qualify under the new rules.

There are many creative ways of structuring your home purchase transaction in ways
that maximize the benefits of the credit. Here are a few examples:

•  The credit applies to 1-4 unit homes as long as you live in one of the units as your primary residence - you could live in one unit and rent out the others.
• If two unmarried individuals buy a home, and only one of the individuals qualifies for the credit based on their income or past home ownership status, the individual who qualifies for the credit can claim the full credit. (Note: In the case of married couples, both spouses must qualify for the credit.)
•  The credit applies even if you have co-signers on your mortgage loan.

Combined with the USDA Guaranteed Rural Home Loan or an FHA Loan, lower property values, many great homes on the market and today's great rates, there has never been a better time to buy a home in Oregon.

Home buyers who work with a Certified Mortgage Planning Specialist are much better equipped to save money and navigate the complexities of the tax credit.

The minutes from the September Fed Meeting have been released and needless to say, it was a heated meeting. However, most of the Fed members agreed that we are not yet in a position to increase the rate of short term funds and that the purchase of Mortgage Backed Securities should be extended.

According to Greg Robb's article in MarketWatch FOMC minutes reveal depth of disagreement over outlook

"But the minutes of the Federal Open Market Committee meeting of Sept. 22-23 reveal that below the veneer, officials have a wide range of views about where the economy is headed and therefore where Fed policy needs to be. The wide range of opinions about the economic outlook and the Fed's unprecedented policies had been expected by Fed watchers given the "cacophony" heard from officials in their public remarks.

Some officials believe that the Fed will need to tighten policy sooner rather than later. Others are worried that a weak recovery might cause a dangerous downturn in prices. Most Fed officials agreed that a recovery has started. But there was little agreement about the strength of the expected upturn.

There was a "range of views" expressed about the Fed's unprecedented credit-easing policies. Some Fed officials wanted to boost the size of the Fed's purchase of mortgage securities, while one wanted to end the program early.

There was no appetite for hiking rates at this meeting because "the cost of the economy turning out to be weaker than anticipated could be relatively high," the minutes said. The Fed decided to extend its purchase of MBS and asset-backed securities into the first quarter to smooth them out and avoid any sudden end that might jolt markets"

So what does this mean to Oregon Homeowners?

If this is correct, we should continue to see 30 year fixed rates below 5% into the 1st quarter of 2010. this bodes well for those who have yet to refinance and for those looking for a home. Fall and winter are usually poor times to sell a home in Oregon as the weather is generally bad. This should mean sellers are more willing to accept a reasonable offer, then wait for a higher one.

Time will tell.

Feel free to call me to get yourself or your clients qualified for an Oregon Home Loan today. 503-421-0096.

I received this from a reliable source. It should be taken seriously. Remember, don't ever give your personal information to anyone over the phone unless you know it is from a trusted source.

Scam Alert:

Type: Jury Duty Vishing Scam

Method of Delivery: Phone call from an alleged court officer

Primary Region Effecgted: Reports from 11 states, including: Florida, New York, Minnesota, Illinois, Colorado, Oregon, California, Virginia, Oklahoma, Arizona, and New Hampshire; may spread nationally

Source: Federal Bureau of Investigation (www.fbi.gov)

Scam Characteristics: A caller identifies him/herself as an officer of the court and notifies the victim that a warrant has been issued for their arrest for a failure to report for jury duty. If the victim protests they have never received a summons for jury duty, the scammer asks for a Social Security number and date of birth to verify the victim's identity and cancel the arrest warrant. This fraud is spreading quickly and has been reported in 11 states so far.

Recommended Precautions:

Be Suspicious
These vishing scams (a combination of the words "voice" and "phishing") are designed to get you to provide criminals with your personal and financial information. Most organizations will not ask you to provide your sensitive information during an unsolicited phone call, so any caller that does should immediately send up a red flag.

Never Provide Your Sensitive Information to Unsolicited Callers
Sensitive information includes your Social Security number, your credit card or debit card numbers, your birth date or birthplace, your vehicle registration plate number, and any other information you wish to keep private.

Contact the Court in Question
To determine the legitimacy of the call, contact the court in question at a number that can be found in the phone book, on a phone directory website, or by calling directory assistance.

Sensitive information includes your Social Security number, your credit card or debit card numbers, your birth date or birthplace, your vehicle registration plate number, and any other information you wish to keep private.

An Easier Way to Send Cards.

Things have been really happening at SendOutCards. The annual convention was a little over a week ago and there were several great announcements. The most radical and potentially important one is that joining and using SendOutCards system has just gotten easier.

SOCBox was introduced as a cost effective way to become a sender of cards. SOCBox is SendOutCards' first-ever retail product. It gives users access to a SOCBox card sending account and comes with the first 10 cards for free! After that, each card is $2! This includes the printed card and postage in the US, Canada or Australia.

The cost of the SOCBox is $49. This includes a license for the system at$29 and 10 cards at $2 a piece. Compare this to the average card cost at your local card store PLUS postage and you can see what kind of deal this can quickly become.

While this is not a full featured SendOutCards account, it does provide access to the catalog of over 15,000 cards as well as create your own picture cards. It's also easy to upgrade to a full featured SendOutCards account.

One of the neatest thing about SOCBox is the ability to earn money by hosting your own SOCBox Home Parties, or becoming a Distributor and earning residual income on every card and gift sold in your organization.

Contact me if you would like to learn how you can get a FREE SOCBox.

Can You Deduct Medical Insurance Premiums from

Income to Qualify for a USDA Guaranteed Rural Home Loan?

If you work with the USDA Guaranteed Rural Home Loan program you are aware that not only do you have to qualify the borrower based on normal Debt to Income Ratios, but there is also an income cap on how much a household can earn.

After taking all household income into account, you can then take qualified deductions away to lower the household income. Without going into all of these, I received an email today from the USDA clarifying how Pre-Tax Insurance Premiums are treated. Basically, you cannot deduct the premiums from Income. AND, you need to use the Gross Income before the premiums have been taken out.

Here is the memo.

"September 17, 2009


Medical Deductions and Annual Income Calculations

Due to questions surrounding the treatment of pre-tax medical plans, the following is provided to supplement and further clarify the interpretation of deducting medical expenses in the calculation of annual income.

Section 1980.347 of RD Instruction 1980-D provides instruction on the types of income to be considered in the annual income calculation.

Section 1980.347(e) describes the types of income that are not included in the annual income calculation, but may be considered in determining repayment ability.  Section 1980.347(e)(6) of the instruction indicates:

"Amounts which are granted specifically for, or in reimbursement of, the cost of medical expenses."

This section does not allow for lenders to deduct the pre-tax medical premiums that applicants pay with wages earned towards their medical/dental/vision health benefits offered by their employers.  These pre-tax employee premiums must be considered by lenders as gross income and utilized when calculating annual income.

Lenders seeking guidance on deducting eligible medical expenses for elderly applicants should refer to Section 1980.348(b) and 1980.348(d)(1) of RD Instruction 1980-D.

Questions regarding this notice may be directed to your state GRH coordinator or the division at 202.720.1452.

The Good news is that a low incoem borrower will qualify for more home since their Gross Income will be slightly higher. The bad news is that it may disqualify some borrowers who now make too much income.

Newberg Oregon Starter Home

3 Bd/2 Bth for $217,500 RMLS # 9064974

3519 Burlington Drive, Newberg OR 97132

This Newberg, Oregon Home qualifies for 100% Financing!!

USDA Guaranteed Rural Home Loan Program 

Beautiful 3 bedroom, 2 bath home close to a community park and downtown. Pictures and words do not do this home justice.
This is a MUST SEE.

Newberg is an excellent town for first time homebuyers. It is a beautiful, small town at the entrance to Yamhill County's wine country. Home to George Fox University, it is not that far from Portland, Salem or the Oregon Coast. Close enough to Portland to tsake advantage of all Portland has to offer, but far enough away for home prices to be reasonable.

Listed by:

Todd and Leslie McCabe
John L Scott Real Estate

Contact Broker

Newberg First Time Home Buyers are able to purchase a home with:
100% Financing with NO monthly Mortgage Insurance
$0 Down Payment
Up to 6% Seller Concessions that can be applied towards your Closing Costs.
Simplified Appraisal Process

There are Income Qualifiers. You can't make to much or to little.

Find out if YOU qualify..

Get Pre-Approved today!!
OR
Local Clients Call: 503-421-0096
Not in the Area? Call: 1-888-660-2842 and Ask for Larry

View all of our FEATURED HOMES here!!

Use our FREE Search Engine to find your Oregon Home.