TONY COSTABILE's (mrciii) Blog

Although not final, and all the details are not in ~ last Wednesday Senators agreed to extend the current $8000 tax credit for first-time buyers who sign contract by by the end of April and close by the end of June 2010. If passed, there will also be a reduced tax credit incentive of $6500 for re...

Details of the New HR3221-Housing & Economic Recovery Act   What is HR3221? A few days ago, President George W. Bush signed into law H.R. 3221, the "Housing and Economic Recovery Act of 2008," a sweeping $300 Billion rescue plan to help struggling homeowners avoid foreclosure, and to boost confid...

Why Fed Rate Cuts Do Not Equal Lower Mortgage RatesThe Federal Reserve has been on a rate cutting spree once more. Many of my clients are calling me and expecting a lower interest rate. Others who have been waiting to refinance are puzzled as to why mortgage rates have not moved lower during the ...