Mortgage Rates Financing Loan Modification Refinancing Tax Credits IRS

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation from IRS Federal First Time Home Buyer Tax Credit FHA Tax Credit information HUD Tax Credit Guidance Information Loan Modification Refinancing John s Video Presentation of How can we help

John Vostenak
Real Estate and Business Opportunities in Monrovia, 
Bradbury, Arcadia, Pasadena, San Marino, La Canada, 
La Crescenta, Altadena, South Pasadena, Sierra Madre,
Duarte and all of Los Angeles, Orange, 
San Bernardino and Riverside Counties. 
We have links to listings in entire USA, 
and countries of Europe,
also focussing on Czech and Slovakia republics.

Mortgage Rates & Financing & Loan Modification & Refinancing & Tax Credits & IRS

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation from IRS

If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.

The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.

More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17.

for more answers , please click the IRS link above for the full article

Federal First-Time Home Buyer Tax Credit

How big is the tax Credit ?

The Tax Credit is equal To 10% of The
purchase price of your home up To $8,000.
the credit passed in 2008 was limited to $7,500 and that
limit still applies to homes purchased in 2008. the full
credit is available for single individuals whose adjusted gross income is less than $75,000. If your adjusted gross income is greater than $75,000 and your home purchase qualifies you for the full credit, the credit phases out according to the dollar amount (or percentage if less than $8,000) in the chart below and full flyer in PDF.

Another help from President Obama's Tax Credit offer ...

41% of First-Time Home Buyers are not aware of the Federal First-Time Home Buyer Tax Credit according to a recent survey commissioned by Century 21 Real Estate LLC.

Here we have a tremendous opportunity for all first-time home buyers and to be enticed by the Tax Credit , and to get off the fence, and buy finally the First Home for new buyers , ... the market and other favorite financial conditions will not be much better ...

In California Tax Credit of that $8,000 Federal Tax credit (available 3/1/2009 – 12/1/2009), can potentially be as much as an additional $10,000 for those consumers that buy a newly built home between 3/1/09 and 3/1/2010.

Please contact me for your next home or other Real estate Purchases or Real Estate Sales ...

Your Friendly Broker John

First time buyers TAX CREDIT - Flyer Download [1321kB]

FHA Tax Credit information, HUD Tax Credit Guidance Information

I have been receiving many questions regarding the First Time HomeBuyer Tax Credit.

HUD has been reviewing ways to expedite the process for the benefit of the Buyer.

I am attaching HUD Mortgagee Letter 2009-15 which clarifies the method acceptable
to HUD.

Click bellow and download PDF file

HUD-FHA Tax Credit information PDF Download [298kB]

Loan Modification & Refinancing

Thanks to President Obama's policies , here is your good news ...

Learn About Making Home Affordable


Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home.


Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income.

Are You Eligible?

Please use the self-assessment tools provided on this website to see if you are among the 7 to 9 million homeowners who may be able to benefit from Making Home Affordable.

please click on our link above to get to goverment sponsored website and worksheet for you and your bank

John's Video Presentation of " How can we help YOU ! "

With great experience in all cities of San Gabriel Valley , especialy in Monrovia, Arcadia, Bradbury, San Marino, Pasadena, Altadena, La Canada, La Crescenta and other community real estate as well as intimate local area knowledge, I work extensively to help buyers and sellers meet their real estate goals.

# Multiple Listing Service (MLS) homes, commercial, land, business, leases for sale
# Open House Listings
# Local market price reports area specific
# Comparable home sales reports property specific
# School performance rankings of California Department of Education
# FBI crime reports and Neighborhood U.S. census data

John's Video Presentation of " How can we help YOU ! " - click here [2268kB]

Mortgage Rates, Home Equity Rates, Car Loans Rates, Credit Cards Rates, Bank Rates, Loan Rates, Interest rates,

Updated mortgage rates, news, tips and advice to compare mortgage rates, home equity loans, CD rates, car loans, credit cards and money market accounts ..

To Access, Click above for a direct link to web site and data.

Loan Broker Service

The following links on this pages are designed to help you with your upcoming home financing.
Please call or email with any questions or concerns.

In today's fast changing market and changing interest rates, there are hundreds of loan programs to choose.
It can be to complex and confusing to borrowers, whether they may be purchasing or just refinancing the existing loans.

We would like to guide you and arrange the Best Loan For You, at the Best Possible Interest Rate , and the Lowest Closing Cost.

We have a hundreds of programs to choose from, including special low rates for A+ Credit Borrowers, also programs for B through D Credit Borrowers, No Money Down, 100 % Financing,
No Closing Cost, First Time Buyers Programs, Commercial Loans, Equity Loans, Refinancing Loans, SBA Loans, Special Programs and Rates Loans, and much more.

Please give me a personal call or send me confidential email , with any question you may have at your earliest convenience.


Tired of having your mailbox crammed with unsolicited mail, including pre-approved credit card applications? Fed up with getting telemarketing calls just as you’re sitting down to dinner? Fuming that your email inbox is chock-full of unsolicited advertising? The good news is that you can cut down on the number of unsolicited mailings, calls and emails you receive by learning where to go to “just say no.”

Protecting your identity, Stop Credit Bureaus Experian, Trans Union, Equifax, from Selling Your Private Information to the scums of the earth or anybody who pays for it ... !

The credit bureaus were ordered by Congress to create this shared one-call opt-out system in 1996. Nothing in the law requires credit bureaus to collect AND SELL YOUR PRIVATE DATA.
The credit bureaus sell names and addresses to credit card companies who in turn mail pre-approved offers of credit to consumers. If you do not want to receive such solicitations, opt out.

Consumers may now request online that the national credit bureaus remove their names from lists sold to companies for marketing pre-approved offers.
You have the ability to opt out of credit card offers that you receive in the mail.

Get off the Lists ! To opt out, optout, opt-out, of unsolicited credit card and mortgage offers, for 5 years or FOR EVER , and to take your name off of direct marketing lists, log on to or call 1-888-5-OPTOUT or 1-888-567-868
When you call this number, you may request to have your name and address removed from national credit bureau lists

For all fellow Real Estate Professionals In Real Estate , we pay 30% referral fee for all referrals to our area of Real Estate and Business service in Greater Los Angeles Areas. Please contact me for more info and details.

The Consumer Price Indexes (CPI)

U.S. Department of Labor
Bureau of Labor Statistics

The Consumer Price Indexes (CPI) program produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services.

An index is a tool that simplifies the measurement of movements in a numerical series. For example, most of the specific Consumer Price Indexes (CPIs) have a 1982-84 reference base. That is, BLS sets the average index level (representing the average price level)--for the 36-month period covering the years 1982, 1983, and 1984--equal to 100. The Bureau measures changes in relation to that figure. An index of 110, for example, means there has been a 10-percent increase in price since the reference period; similarly an index of 90 means a 10-percent decrease. Movements of the index from one date to another can be expressed as changes in index points (simply, the difference between index levels), but it is more useful to express the movements as percent changes. This is because index points are affected by the level of the index in relation to its base period, while percent changes are not.

The Bureau of Labor Statistics (BLS) is a Federal government agency and everything that we publish, both in hard copy and electronically, is in the public domain, except for previously copyrighted photographs and illustrations. You are free to use our public domain material without specific permission, although we do ask that you cite the Bureau of Labor Statistics as the source. The public domain use of our materials includes linking to our website.

To Access, Click above for a direct link to web site and data.

Qualifying Calculator

How much income does it take you to qualify for a particular home? This calculator will tell you. However, you may want to adjust the qualifying ratios to 33/38 or whatever your local lender recommends.

To Access, Click above for a direct link to web site and data.

Affordability Calculator

How much house can you afford with your income?
This calculator helps and is designed for those putting less than twenty percent down.

To Access, Click above for a direct link to web site and data.

Rent vs. Own

Rents have risen considerably recently.
This calculator helps to show what your net gain may be in owning rather than renting,
taking many considerations into account.

To Access, Click above for a direct link to web site and data.

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CENTURY 21 Ludecke Realty
John Vostenak, Realtor, CA Broker, Lic#: 00871958 CENTURY 21 Ludecke Inc. • 20 E. Foothill Blvd , Suite 105 • Arcadia, California 91006 USA
Direct Line, Google Voice Mail: 1-626-408-2266 •
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All Information contained on the web site and any links is believed to be accurate, but should not be relied upon without verification. All properties are subject to prior sale, change or withdrawal. Neither broker(s), agent(s) nor shall be responsible for any typographical errors, misinformation or misprints, and shall be held totally harmless.
Accuracy of square footage, lot size, and other information is not guaranteed.
CENTURY 21® is a registered trademark licensed to Century 21 Real Estate LLC. Equal Housing Opportunity. Each Office is Independently Owned and Operated.
All rights reserved. This copyrighted material may not be re-published without permission. Links are encouraged.


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© John Vostenak 2006