Homeowners

Legislation also expands business tax credits, extends unemployment benefits

November 5, 2009 -- In an effort to help recharge Alaska's economy and hundreds of small businesses, U.S. Senator Mark Begich today supported legislation to extend the first-time homebuyer tax credit, and the expansion of a program allowing businesses to relieve their tax burden.

The Worker, Homeownership and Business Assistance Act passed the Senate by a vote of
98 to 0. The Act, co-sponsored by Sen. Begich, continues the $8,000 first-time homebuyer credit through April 30, 2010, allowing purchasers with a valid contract an additional 60 days to close after that date. It also provides a $6,500 credit to new purchasers who have lived in their current residence for five years or more.    » read more »

Worker, Homeownership and Business Assistance Act Passes Senate

November 4, 2009 -- (Washington, D.C.) – Montana’s senior U.S. Senator Max Baucus today applauded the Senate for passing his bill to extend the $8,000 tax credit to more of Montana’s first time homebuyers.

The bill also includes tax help for Montana’s military families who must sell their homes because of a reassignment. Both measures were added to the unemployment extension bill that passed the U.S. Senate tonight.    » read more »

November 4th -- "Today I praised the Senate for its timely action to keep the $8,000 credit from expiring at the end of this month. In September, I led a group of Senators, including Johnny Isakson (R-GA), Harry Reid (D-NV), John Ensign (R-NV), and Debbie Stabenow (D-MI), introducing a bill to extend the first-time homebuyers' tax credit.

Today, the Senate passed the H.R. 3548, the Workers, Home Owners and Business Assistance Act, which included a provision I co-sponsored extending the first-time homebuyers tax credit and providing a new $6,500 tax credit for so-called step-up homebuyers who have been in their current home for the last five years. Both credits are designed to continue to provide a temporary boost to the housing market at a critical time in its recovery.    » read more »

03 November 2009 -- Washington -- Today, Congresswoman Kathy Dahlkemper (PA-3) today voiced her support of an extension of the first-time homebuyer tax credit. The $8,000 tax credit, which was made available as part of The American Recovery and Reinvestment Act, is set to expire on November 30.

“The $8,000 tax credit provides a strong incentive for people who are considering purchasing their first home,” Dahlkemper said. “As we continue to work toward economic recovery, providing these types of incentives will not only stimulate the housing market, but also allow first-time home buyers to live the American dream of owning a home. I hope to see this tax credit extended so we can continue to give a boost to the housing market.”    » read more »

Typical residential customer to receive $44 credit on first bill of new year

November 3, 2009 -- JUNO BEACH, Fla. – Florida Power & Light Company customers will be getting a sizeable rebate on their first bills of 2010 with a one-time fuel charge credit approved by the Florida Public Service Commission (PSC).

FPL residential customers using 1,000 kilowatt-hours will receive a credit of $44.46 on their January electric bills. The fuel charge credit would normally have been spread out over the course of 12 months. FPL does not profit on the fuel it buys to generate electricity.

“Customers are seeing the benefit not only of lower fuel prices but also our investments in modern, more fuel-efficient power plants,” said FPL President and CEO Armando J. Olivera.    » read more »

Tells stories of Washington state families who desperately need the support to get back on their feet

November 3, 2009 -- (Washington, D.C.) – Today, U.S. Senator Patty Murray delivered a speech on the floor of the Senate urging her colleagues to support the Worker, Homeownership, and Business Assistance Act of 2009. This bill would expand and extend the successful Homebuyer’s tax credit program that has allowed families to purchase homes and has helped stabilize the weakened housing market.    » read more »

Bill Would Provide Extra Unemployment Assistance for Workers in States Like Ohio and Would Expand Homebuyer Tax Credit

November 2, 2009 -- WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH) announced his support for a bill that would provide for an extension of emergency benefits to unemployed workers and expand the homebuyer tax credit.

Brown is a cosponsor of the Worker, Homeownership, and Business Assistance Act of 2009, which would extend unemployment insurance by 14 weeks (with an additional six weeks for workers in high unemployment states like Ohio) and expand the first-time homebuyer tax credit to include existing homeowners who have not moved for five years or more.    » read more »

October 31, 2009, WASHINGTON, D.C. – U.S. Representative Bart Gordon is supporting efforts in Congress to extend a popular tax credit that has benefited thousands of new homeowners in Tennessee. Gordon has strongly urged action on legislation that would extend the First-Time Homebuyers Tax Credit, which is set to expire at the end of November.

“This tax credit has been widely successful in Tennessee, where more than 35,000 people have taken advantage of it,” said Gordon. “By increasing housing demand, it has been effective in helping the housing market and our economy get back on track.”    » read more »

Company Continues Momentum in Comprehensive Effort to Help Struggling Homeowners

CALABASAS, Calif., Oct. 29 -- Bank of America announced today it has surpassed its previously stated target of helping at least 125,000 financially distressed homeowners begin trial modifications through the federal government's Home Affordable Modification Program (HAMP) by November 1.

Bank of America has initiated nearly one in five HAMP trial modifications industrywide since the company began participating in the program in April. Since beginning its HAMP outreach efforts, the bank's homeownership retention division has contacted nearly 600,000 potentially eligible homeowners to ascertain their interest in HAMP and has extended more than 200,000 offers of trial modifications under the program.    » read more »

October 29, 2009 -- WASHINGTON, DC – Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan called on Congress to approve three important measures to improve housing and the housing market for Americans: extension of the First Time Homebuyers Tax Credit for a limited period, extension of higher loan limits for home mortgages, and secure funding for the Housing Trust Fund.    » read more »

Hundreds of Thousands Illegally Taking Advantage of Credit, Costing Taxpayers Over $100 Million

October 29, 2009 -- Washington, DC - With new reports that hundreds of thousands are illegally taking advantage of a tax credit to help get first-time homebuyers into the housing market without actually purchasing a home, U.S. Senator Kirsten Gillibrand today co-sponsored legislation that would crack down on fraud and improve oversight of the first-time homebuyer tax credit.

The U.S. Treasury Department Inspector General released a report this month revealing167 schemes and over 100,000 individual cases of fraud related to the first-time homebuyer tax credit - costing taxpayers over $100 million.    » read more »

October 29, 2009 -- Today Senate Banking Committee Chairman Chris Dodd (D-CT) praised the agreement to ensure that Americans would continue to have access to the Homebuyers Tax Credit. This tax credit is working to turn around the housing market and build economic security for millions of middle class families.

Dodd had joined Senator Johnny Isakson (R-GA) in pushing to extend the credit.

The final agreement includes Dodd and Isaksons’ provision to extend the credit to people looking to buy a new home after having owned and lived in a home for more than five years. More than 70 percent of existing homeowners will now be eligible to take advantage of this program and use the credit to buy a new home.    » read more »

October 27, 2009 -- WASHINGTON, DC -- Following the release of a Treasury Department Inspector General report detailing fraud related to the first-time homebuyer tax credit, U.S. Senator Bob Casey (D-PA) introduced legislation (S.1930) to add protections and increase oversight to the program.

“The first-time homebuyer tax credit has proven to be a popular and successful effort that has spurred the housing market and provided tax relief to 1.4 million Americans,” said Senator Casey. “Despite the success of the program, there are significant and troubling issues with its oversight. My legislation would help to fix these problems as we look to extend the tax credit to continue providing economic relief.”    » read more »

10/19/09 -- Congressman Phil Hare (D-IL) today was joined by local citizens and realtors in Moline, Canton, and Macomb to call for an extension of the $8,000 first-time homebuyer tax credit. The credit is set to end on December 1, 2009.

“The first-time homebuyer tax credit has been an undeniable success,” Hare said. “Extending it until the end of 2010 will continue to help our economy recover and give more families the chance to own their first home, a central component of the American Dream.”    » read more »

October 13, 2009 -- CHARLOTTE, N.C. -- Four sites have been selected to have solar energy systems installed on their rooftops as part of the first phase of Duke Energy’s distributed solar generation program in North Carolina.

Duke Energy has selected large nonresidential customer sites for this first phase. They are:

* National Gypsum Company in Mount Holly, N.C., will house a 1.2-megawatt system which includes 5,096 rooftop solar panels.
* Highwood Properties in Greensboro, N.C., will house a 1.6-megawatt system which includes 7,020 rooftop solar panels.
* Food Lion, in Salisbury, N.C., will house a 1,292-kilowatt (1.3-megawatt) system which includes 5,616 rooftop solar panels.    » read more »