Laws & Taxes

Cleveland, OH - October 1, 2009 - (RealEstateRama) -- The Cleveland Area Board of Realtors (CABOR) announced its support for Issue 6 on the November 3rd ballot. The Board of Directors for the 4,500 member non-profit organization voted on Thursday, September 24, 2009 to endorse the reform effort

Legislation moves back deadline on stimulus tax credit for men and women serving abroad. WASHINGTON, D.C. - September 30, 2009 - (RealEstateRama) -- While many American families have taken advantage of the First-Time Homebuyer Tax Credit and other benefits available through the economic recovery effort, many American heroes have been deployed overseas and thus unable to take advantage of this valuable credit to help them buy a home of their own. Today, U.S. Senator Claire McCaskill introduced a bill in the Senate to extend until November 30, 2010 the availability of this credit of up to $8,000 toward the purchase of a first home for service members deployed abroad for more than 90 days during 2009.

Staten Island, NY - September 28, 2009 - (RealEstateRama) -- Rep. Michael E. McMahon wants to extend the $8,000 first-time homebuyers tax credit which will expire by the end of November.

Legislation will promote growth, stability in housing market. September 29, 2009 - (RealEstateRama) -- Reps. Frank Kratovil (D-MD) and Travis Childers (D-MS) have introduced important legislation to help families buy and sell homes and spur growth and stability in the American housing market. The Tax Credit Extension for Homebuyers with a Loss Deduction Incentive Act (H.R. 3640) will extend for one year the $8,000 home-buyer tax credit, expand the credit to all homebuyers purchasing a principal residence, and provide relief for individuals or families who are forced to sell their home at a loss.

BROOKLYN, NY - September 23, 2009 - (RealEstateRama) -- Benton J. Campbell, U.S. Attorney for the Eastern District of New York, today announced the filing of a federal Fair Housing Act civil complaint against Emanuil Uvaydov and Vyacheslav Uvaydov, brothers and joint owners of a house in Fresh Meadows, New York.

Washington, DC - September 24, 2009 - (RealEstateRama) -- U.S. Senator Kirsten Gillibrand co-sponsored legislation today that would extend the $8,000 tax credit for first-time homebuyers for another six months.

Legislation will help protect family farms from the estate tax. September 24, 2009 - (RealEstateRama) -- Today, Rep. Frank Kratovil signed on as a co-sponsor to H.R. 3524, the Family Farm Preservation and Conservation Estate Tax Act. This bill will exempt farms and ranches from Federal estate taxes after death of the owner for as long as the property stays in the family and it continues to operate as a farm. The legislation also exempts landowners who have placed their land in a conservation easement from paying the estate tax as long as it persists in that capacity.

Washington, DC - September 18, 2009 - (RealEstateRama) -- Senator Reid joined Senators John Ensign and Ben Cardin in cosponsoring a new bill that will extend the existing homebuyer tax credit of $8,000 for six more months.

Washington, DC - September 18, 2009 - (RealEstateRama) -- Senator Reid joined Senators John Ensign and Ben Cardin in cosponsoring a new bill that will extend the existing homebuyer tax credit of $8,000 for six more months.

Rochester, NY - September 18, 2009 - (RealEstateRama) -- U.S. Senator Kirsten Gillibrand today unveiled a new effort to provide property tax relief to thousands of middle-class families in the Rochester/Finger Lakes Region.

BISMARCK, ND - September 18, 2009 - (RealEstateRama) -- The Industrial Commission announced today that the North Dakota Housing Finance Agency (NDHFA) has granted conditional commitments for $2.7 million in Low Income Housing Tax Credits (LIHTC) to support construction or rehabilitation of 266 housing units.

COLUMBUS, OH - September 14, 2009 - (RealEstateRama) -- Charles E. Townsend, 39, of Columbus pleaded guilty in United States District Court here to one count of money laundering in connection with his involvement in a mortgage fraud scheme that exaggerated property values to out of state investors in order to secure funding for the purchase of properties in primarily low income neighborhoods in Columbus.

Albany, NY - September 15, 2009 - (RealEstateRama) -- The Office of the United States Attorney for the District of Vermont stated that Benjamin Osmanson, 30, of California and Sarita, Texas, pleaded guilty yesterday to three counts of conspiracy, wire fraud, and money laundering related to his scheme to defraud mortgage lenders by submitting false loan applications in the names of “investors.” Osmanson was arrested in October 2008 in Texas.

Albany, NY - September 15, 2009 - (RealEstateRama) -- The Office of the United States Attorney for the District of Vermont stated that Benjamin Osmanson, 30, of California and Sarita, Texas, pleaded guilty yesterday to three counts of conspiracy, wire fraud, and money laundering related to his scheme to defraud mortgage lenders by submitting false loan applications in the names of “investors.” Osmanson was arrested in October 2008 in Texas.

Nearly 40 percent of first-time home buyers report federal tax credit played critical role in decision to purchase a home. LOS ANGELES, CA - September 21, 2009 - (RealEstateRama) -- Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2009 First-time Home Buyers Tax Credit Survey.” Understanding the significance of the federal tax credit to the housing market’s recovery, C.A.R. surveyed 200 California first-time home buyers to gauge the impact it had on their purchase decisions

Washington, DC - September 16, 2009 - (RealEstateRama) -- Congressman Earl Blumenauer (D-Ore) today introduced a bill that would allow members of the armed services, Foreign Service, and intelligence community to take full advantage of the 2009 First Time Homebuyer Tax Credit.

OLYMPIA, WA - September 17, 2009 - (RealEstateRama) -- Washington Attorney General Rob McKenna fears a rise in scam victims as struggling homeowners trying to tap legitimate payment relief programs are simultaneously solicited by charlatans.

WASHINGTON, D.C. - September 17, 2009 - (RealEstateRama) -- Today, Congressman Ike Skelton (D-MO) joined Congressman Charles B. Rangel (D-NY), Chairman of the House Ways and Means Committee, Congressman Walter B. Jones, Jr. (R-NC), and 26 other Members of the House of Representatives, in introducing H.R. 3590, the Service Members Home Ownership Tax Act of 2009. This deficit-neutral legislation would amend the federal tax code to ensure military personnel can take full advantage of the first-time homebuyer tax credit that was created as part of H.R. 1, the American Recovery and Reinvestment Act.

Washington, DC - September 17, 2009 - (RealEstateRama) -- U.S. Senator Benjamin L. Cardin (D-MD), last night, along with Senators John Ensign (R-NV), Harry Reid (D-NV), Johnny Isakson (R-GA) and Debbie Stabenow (D-MI) introduced a six-month extension of the popular $8,000 federal tax credit for first-time homebuyers. The current provision, passed as part of the American Recovery and Reinvestment Act, expires December 1, 2009. According to the most recent Treasury data, nearly 530,000 Americans have applied for the tax cut to help them purchase their first home. About 40 percent of all home buyers this year will be eligible for the tax credit.

September 15, 2009 - (RealEstateRama) -- Last week, U.S. Representative Michele Bachmann (MN-06) asked the U.S. Department of Housing and Urban Development to suspend and bar ACORN from its programs and funding

MORRIS PLAINS, N.J.- September 9, 2009 - (RealEstateRama) -- The $8,000 tax credit enacted earlier this year by Congress, along with the today’s affordable home prices and low interest rates, has helped make the dream of homeownership a reality for countless Americans.

LANSING, MI - September 14, 2009 - (RealEstateRama) -- With property values across the state and country falling while taxes for some homeowners are increasing, Sen. Roger Kahn introduced four measures in the Michigan Senate to make the appeals process more fair and smooth for property owners

BROOKLYN, NY - September 10, 2009 - (RealEstateRama) -- Benton J. Campbell, U.S. Attorney for the Eastern District of New York, today announced the filing of a federal civil complaint against Sunrise Villas, LLC, its manager, and assistant manager for violations of the Fair Housing Act. Sunrise Villas, LLC is the owner and operator of the Sunrise Villas apartment complex located at Leonard Court in Lindenhurst, New York.