Tick tock tick tock tick tock - that's right, the time is running out on the free money the government is offering to first-time home buyers as well as move-up buyers. If you want to qualify for the homebuyer tax credit (up to $8000 of FREE money) then you need to be in contract by April 30, 2010 and you need to close by June 30, 2010. Don't miss this opportunity to get a house at a great price with great rates and have the government 1) reimburse you for all or most of your down payment, or 2) pay for some new appliances or furniture, or 3) fund your Roth IRA.

If you are in the Las Vegas area and would like your own password-protect home search website with real-time access to the MLS and lots of other great information like school information, shopping, satellite imagery and a host of other great features for free, please email me and I'll be happy to contact you to get you set up - no other home search website compares to the Home Buyers' Scouting Report.

If you or a friend are renting / leasing a home from an individual and that home gets foreclosed, the lender is obligated to honor the lease. Make sure you are protected by 1) having a lease and 2) paying your rent on time and with either a check or money order to prove your on-time payments. This way, if the lender wants to get you out, they will more than likely have to incentivize you to move - that usually means a nice chunk of cash!!

Finally, the new lending laws that HUD implemented on January 1, 2010 provide for the borrower to get a credit toward closing costs via the YSP / SRP that brokers and bankers get. If you or a friend are in the need of a mortgage, make sure that you understand the complete workings of the new HUD / GFE combo by using a reputable, competent mortgage professional who can fully explain everything in great detail so that you will fully understand all of your options.

I'd love to get your ideas, thoughts, comments, etc. Please feel free to leave them by clicking on the comment link. Have a great weekend.