DFW Relocation

Time is running out! Do not let an $8000 tax credit pass you by. Imagine hearing this while on the next walk through of your future home, "Not only did the previous owners update the kitchen, replace the roof and install a brand new sprinkler system, but the United States government is going to sweeten the deal with eight thousand dollars." For first-time home buyers willing to take the plunge into ownership between now and close to the end of 2009, a tax credit (that means cash) can be yours if you meet the qualifications. Do not confuse this credit with the former program which was a loan that would have to be repaid over time. This is money in your pocket to furnish your new home with new carpet, perhaps an energy efficient central air and heating system, or for some, a second honeymoon to the Grand Caymans. They money is yours to do with as you please! Many people have questions about the tax credit. Here's a few of the most common ones with answers: 1. Can I quali...

Short sale hurts your credit Choosing a short sale over foreclosure is difficult. Both take a bite out of your credit rating. But one is easier to recover from. NEW YORK (Money Magazine) -- Q. We have to relocate because of my husband's job. Our home value has fallen nearly $100,000. We would like to get rid of it, but we don't want to go into foreclosure. Someone mentioned a short sale . What impact would that have on our credit rating? Gerri Willis , Money magazine contributing writer and host of CNN's "Your Bottom Line," says: A. A short sale , in which you negotiate with the bank to sell your home for less than you owe on your mortgage, will have a dramatically negative affect on your credit. A consumer who has been through a short sale could see a drop in her credit score of up to 200 points, essentially the same decrease as if the homeowner had gone into foreclosure, says John Ulzheimer, president of consumer education for Credit.com. And like a foreclosure...