My loan officer said we could get our new home while having our current home on the market if we did one of two things- paid off our credit card debt or for me to get a job to cover the minimum monthly payments on the credit card debt. This was the only way for us to have two homes at once. If neither of those things could be done, then we had to sell our current home. We paid off almost all the debt and I got a job that covers the minimum credit card payments and some and not to mention my hubby got a 6% raise. We paid down the debt by selling every piece of furniture we own and other odds and ends and even my husbands car. Now, after all this, a hard hit on my credit and frustration with a loan officer who cusses, never returns phone calls or emails and hangs up the phone on you, none of the things that we did to get our new home would have helped us, except to sell our current home. Our new home will be under rural development and RD never allows a second home unless the current home is a manufactured home or trailer. So, we sold everything, took a hard hit on my credit and got a lousy minimum wage job for nothing. Luckily in 6 days we will be closing on the sale of of current home and closing on our new home, but having our new home does not make up for the fact we are out furniture and a car, when those things did not have to be sold in the first place. I even talked to the bank that is funding the mortgage and they said it sounds like my loan officer was stalling us (our new home is new construction so our loan has been processing for 5 months pending the finish of the construction) in hopes our current home would sell so she could make a buck. What can I do to recoup the damages? I want at least a refund on the money we spent for this loan officer to process our loan. ideally, the money spent to process the loan and money to replace our car and furniture. What can I do?

Technorati Tags: 5 months, credit card debt, credit card payments, damages, frustration, hubby, loan officer, manufactured home, minimum credit card, minimum credit card payments, minimum wage job, money, mortgage, new construction, odds and ends, phone calls, piece of furniture, rural development

Less than superb credit (just discharged from bankruptcy) I own the home out right, would like to finish a remodel and put money away in savings. What are my options?

Technorati Tags: bankruptcy, money, remodel

Can someone please summarize the instructions for lines 10-14? Here’s the website:

http://www.irs.gov/pub/irs-pdf/i1040sca.pdf

I summarized if, yet it is too long

Line 10
A home. Ex. House, condo, cooperative, mobile home, boat, etc.
Has to include sleeping space, bathroom, or kitchen area.
Mortgage is any loan that is secured by the main home, or second home. It can include 1st and 2nd mortgage and home equity loans and refinance mortgages.
How to enter
Enter the mortgage interest and points recorded on form 1098.
If it shows any refund, don’t reduce your deduction.
If you paid more interest, see publication 936 to see if you can deduct your additional interest.
Line 11
If you and one other person reliable for the mortgage and the interest is recorded on form 1098 for the other person, record your share of interest on line 11.
 If you did not receive the form from the recepient, then use Line 11
If you bought a house from the recepient, you need their name, social security number, and address.
If not, you have to pay a fine
Line 12
This is all your points not recorded on form 1098
Points you paid are only deductable over the life of the loan.
You must deduct points you paid to refinance a mortgage over the life of the loan.
If you use the money to improve your home, you could possibly deduct the payments depending on what year it was paid.
Line 13
Mortgage Insurance Premium
Qualified mortgage insurance provided by the department of veterans affairs the federal housing administration or the global housing service.
There is a limit on the amount you can deduct:
You cannot deduct money if your mortgage insurance premium is 9,000 or ,500
If your insurance premium is more than 0,000 or ,000 if married filing separately, your deduction is limited.
Line 14
Investment interest is a tax on loans but only the loans that are used for mortgage.
You are required to fill out form 4952 unless if all three of these exceptions apply:
Your investment interest is not more than your investment income.
You don’t have any other deductible investment expenses.
You have no disallowed investment expense from the previous year.

Technorati Tags: department of veterans affairs, federal housing administration, form 1098, form 4952, gov pub, home boat, home equity loans, housing service, investment interest, kitchen area, mobile home, mortgage insurance premium, mortgage interest, name social security, person record, publication 936, recepient, social security, social security number, www irs gov

We are considering buying a modular home (not a trailer/manufactured home) and putting it on a foundation. We want something that doesn’t have that rectangle, shoe box look to it, around 1,800 sq ft, 3 bedrooms 2 baths. We want wood laminate floor throughout and to be able to upgrade things like light fixtures, hardware and cabinets. Possibly do a log exterior, metal roof and big porch. Can anyone provide links to pre-fab dealers in Oregon/Washington/Idaho? They’d need to be able to deliver to the Portland OR area. I’ve been pretty discouraged because a lot of the dealers don’t list prices, show actual photos of models or they expect you to come tour their lot which typically is nowhere near where I live.

Technorati Tags: baths, bedrooms, cabinets, fab, light fixtures, metal roof, models, modular home, oregon washington, photos, porch, rectangle, shoe box, sq ft, wood laminate floor

“Companies located in New York, Pennsylvania, and elsewhere across the United States are fully capable of manufacturing the range of clean-energy components, and U.S. wind farms and other clean-energy projects financed with stimulus money should be buying American-built parts,” the letter reads.

The letter comes on the heels of a report by the Investigative Reporting Workshop and ABC News, which found that eight of every spent on wind energy projects through the stimulus package went to a foreign company. Total recovery funds spent on wind energy projects total nearly billion.
The report estimates stimulus funding for wind projects have created roughly 6,000 manufacturing jobs overseas and just hundreds in America. Thus far, the Recovery Act has paid to create 1,807 wind turbines to fuel American homes, businesses, schools and other buildings. Just 588 of those were manufactured domestically, according to the report.
At a press conference Wednesday, the Senators pointed to a specific wind farm project in West Texas that is seeking an award of 0 million in stimulus funds for a .5 billion project. According to Schumer, the Texas project would create around 3,000 Chinese jobs and just 300 American jobs.
"The goal of the stimulus is to strengthen the American Economy, and that means creating jobs here in the U.S. not in China," he said.

http://www.economyincrisis.org/content/outsourcing-americas-stimulus-jobs

Are they going to step up to the plate and confess to the American people that they have no job because of their actions?

What about the debt how will they pay that off if there are more and more Americans losing their jobs?

Technorati Tags: abc news, american economy, china, clean energy, energy components, investigative reporting, job, manufacturing jobs, money, recovery act, schumer, senators, stimulus package, wind energy projects, wind farm, wind farms, wind projects, wind turbines, york pennsylvania

My mom has been in the process of buying a Modular home since December. She decided to put a manufactured home on her land. She entered a legal contract with the dealers that had a closing date of June 2010. Her loan was approved, but the place continued to put off closing. SO, she called the loan officer. He said that the problem was that the dealer wasn’t licensed thru the government to receive the government loan she was approved for. The odd thing is this is the loan they use to get people to buy homes from them. So we are starting to wonder how many other people went into contracts with them, and this dealership knew that they were not approved by the government to receive the funds from these rural development loans. Thus, making this place a scam! They have pocketed not only the 0 non refundable deposit, but also my mom’s land!! Which they put into the contract that as soon as the modular home was on the land, the land and the home were both the property of this dealership until closing. Well, I really think that my mom should get a lawyer because this place is a scam! But my question is can she sue for the tax credit she is going to miss over this?
I think we were thinking along the lines of punitive damages, not actually sueing for the "tax credit". Sorry maybe I worded this question wrong. Anyway, thanks for the answers. She’s going to talk to a lawyer~

Technorati Tags: closing date, contracts, government loan, lawyer, legal contract, loan officer, manufactured home, modular home, mom, punitive damages, refundable deposit, rural development loans, tax credit