Current Issues / Articles

The following are articles related to law practice and other similar topics in the Kansas City area. Click the "Read More" link to view the full article on the website that released it.

 

$8,000 Homebuyer Credit Extended

The $8,000 credit for first time homebuyers was extended by Congress until April 30, 2010.  The law was set to expire in November, 2009, but was extended into 2010 and expanded.  The law also allows a $6,500 credit for homebuyers who have been residing in their present home for five consecutive years out of the last eight.  All U.S. citizens who file tax returns are eligible.  Buyers with modified adjusted gross income of $125,000 ($225,000 for married filing jointly) are eligible for the full credit.  Purchased residential homes of less than $800,000 qualify.  Call us to see if you can take advantage of this valuable credit.

Stimulus breaks end Monday for SBA loans

Say goodbye to the 90 percent guarantee and reduced fees that sparked a rebound in Small Business Administration lending.

In a few days, the SBA will run out of the $375 million in economic stimulus money that enabled the agency to make these enhancements. Sarting Monday, borrowers and lenders will have to make a choice: They can be put on a waiting list to receive these breaks as stimulus money becomes available, or they can apply for a regular SBA loan with higher fees and a lower government guarantee for the lender.

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