Joshua Talayka's (talayka) Blog

The U.S. Department of Housing and Urban Development issued Mortgagee Letter 2009-15 on May 11, 2009. A portion of this letter outlined the use of the First-Time Homebuyer Tax Credits for use as a Down payment on an FHA mortgage. Tax Credit Down Payment Joshua TalaykaChase InternationalOffice: 77...

The garage is said to be the largest yet most underutilized place in our homes. To often is it a place where things are thrown into it like a storage shed, and we rarely even park our cars there anymore. But, it doesn't have to stay that way. Here are some things you can do to turn that wasted sp...

The Section 203(k) FHA Program can be used to not only purchase a home, but also improve/repair it. Its FHAs primary program for the rehabilitation and repair of single family properties. It has been a great tool for community and neighborhood revitalization. Many lenders have successfully used t...

Part of the Economic Stimulus Plan presented in March included some provisions designed to help promote energy-efficient investments in homes.See Economic Stimulus Energy Incentives for details.Should you have any questions or need further information, please don't hesitate to contact me, (775) 2...

If you have a debt canceled or forgiven, that amount may be taxable as income.The Mortgage Debt Relief Act of 2007 allows taxpayers to exclude this amount as income if the discharge of debt was on their principal residence. This included debt reduced through mortgage restructuring, short sale, or...

One of the provisions of the Housing and Economic Recovery Act of 2008 was the First-Time Homebuyer Tax Credit. The Credit is designed to encourage first time buyers to go ahead and purchase their first home. The Credit amounts to 10% of the purchase price, and may be as much as $8,000.See Firt-T...

Both UCLA and UCSB predict California’s unemployment rate will continue to soar and remain in the double digits until at least 2012. Both universities also had poor predictions for California’s retail spending, income, and future home prices. See California’s unemployment rate for the complete st...

With lenders becoming more and more cautious about whom they loan money to, seller financing is becoming more desirable to both buyers and sellers. The buyer obviously benefits by being able to purchase a home they otherwise may not qualify for. However, it is the seller that really has the oppor...

Last week Fannie Mae and Freddie Mac announced their requirements to allow home owners (whether owner-occupied, second home, or investor) to refinance their current mortgage as part of Obama's Massive Housing Relief Efforts.Loan Modification Series 5Should you have any questions or need further i...

The “Smart Home: Green + Wired” located at Chicago’s Museum of Science and Industry ended its exhibit on end January 4, 2009, but can still be found online. This home featured a range of Smart and Green technology that would appeal to both the average homeowner looking to cut down energy costs, t...