National Flood Insurance Program and Homebuyer Tax Credit Closing Deadline Both Extended

Congress has passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law.

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.

Additionally, the Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010, to the date of enactment of the extension. NAR members sent more than 250,000 letters to Members of Congress encouraging them to extend the program.

Source: National Association of Realtors, Community and Political Affairs & Government Affairs

http://www.realtoractioncenter.com/

Senate Passes Extension For Homebuyers Tax Credit…House To Vote

Senate approves giving homebuyers 3 more months to finish sales and qualify for tax credit

WASHINGTON (AP) — The Senate on Wednesday approved a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.

The move by Senate Majority Leader Harry Reid would give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.

The proposal, approved by a 60-37 vote, would only allow people who already have signed contracts to finish at the later date. About 180,000 homebuyers who already signed purchase agreements would otherwise miss the deadline.

Reid, D-Nev., added the proposal to a bill extending jobless benefits through the end of November. Nevada has the nation’s highest foreclosure rate, and Reid is facing a tough re-election campaign.

The Realtors group has been pushing hard in Congress for the extension. Mortgage lenders, the trade group says, have been swamped with borrowers trying to get approved by the end of the month. Many potential borrowers are unlikely to make the deadline.

“If Congress fails to act promptly, then prospective homebuyers might not get the benefit of the homebuyer tax credit, even though they have completed contracts,” the Realtors said a a letter to lawmakers.

First-time buyers were eligible for a tax credit of up to $8,000. Current owners who bought and moved into another home could qualify for a credit of up to $6,500.

The $140 million cost of the measure would be financed by denying businesses the ability to deduct from their taxes punitive damages paid when losing lawsuits or judgments.

Jupiter IT Solutions Summer Special for RU Members..REBUILD YOUR PC FOR ONLY $85.00 !!!!

REBUILD YOUR PC FOR ONLY $85.00 !!!!

What does this mean exactly ? It means we will get that old Windows XP or Vista system running like new !!!!

We backup your files and programs, reinstall Windows, and then restore your files and programs, resulting in a system that runs just like the day you bought it.

No need to go digging for your old CDs for your favorite programs – with our method, there is usually no need to reinstall anything !!!

We normally charge $125.00 for this service, but we are offering this service to Real Estate Universe members all summer long for only $85.00* !!!

Call our office at (561) 244-9470 today to get that old clunker running like new !!! Be sure to mention promo code JOINRU to receive this discount. Also, feel free to pass this offer on to your friends, family, and business associates.

* Offer expires on August 30th, 2010. Price does not include home / business pickup or delivery service. This service is available for an additional $20.00.

SOAR to hold FL Real Estate Pre-License Class June 2010

School of Advanced Realty is holding a Salesperson Prelicensing Class starting June 5, 2010 on Monday Wednesday and Fridays from 10am – 4pm in West Palm Beach. Any RU member who may know someone that is looking to take this course, can offer a $100 discount to them as a benefit of your RU membership. Course is regularly $399. For those who mention Real Estate Universe the cost will be $299 including text. For more information contact Jeffrey Levine, Director of SOAR at 1-877-787-7575 or emaill jeff@soarre.com

online course for all Real Estate Prelicensing Courses and Continuing Education are available on SOAR’s website at www.soarre.com

Computer Scams and Virus warnings

As you may be aware, over the last couple of years, there have been a number of scams involving fake computer security products. Typically, these will appear as an Internet pop-up stating that your PC is infected, and that by clicking on the pop-up, your PC will be cleaned. When the pop-up is clicked on, the PC instead becomes infected and can often be very difficult to clean.

Ultimately, the goal of these scams is to convince the victim to purchase the “security” product in order to clean the PC. Once a credit card number is given, the card will most likely be used for purchases and can be used to steal your identity.

With all that said, here are some simple guidelines to follow to minimize the threat:

Make sure that whatever security products you use are up-to-date. Most decent products will do this without any involvement on your part.
Make sure that your PC is setup to install the latest Windows updates. This can be set to happen automatically, or you can do it manually at your convenience. Just be sure that you do it fairly regularly (weekly at least).
Understand that no anti-virus or other security product is 100% reliable. There are new variants of these scams and threats that come out daily, and there is always a window of opportunity for these threats to bypass the security products you are using.
Understand that no reputable company will ever just randomly pop up on your computer trying to sell you a product. These are pretty much always associated with some sort of scam. If ever in doubt, shut down your computer and seek the assistance of a computer professional. And NEVER give out a credit card number or other personal information.
If there are any questions regarding any of this information, please don’t hesitate to contact us. Also, we now have our Jupiter IT Solutions fan page which will be updated regularly with tips and information on the latest threats and issues. Sign up as a fan and you will be notified as new information is made available.

Thanks,

Matt Gill MCSE, CCNA, CNE
Jupiter IT Solutions
Director of Technical Services
Phone: (561) 459-6591
Fax: (561) 584-5941
Email: matt.gill@jupiterits.com