Real Estate News 05/01/08
HOMEOWNERS INSURANCE
Private property insurers could soon be more tightly regulated under a voluminous measure passed in the Florida House. The 120-page bill provides incentives to new insurers entering the state, reduces Florida’s potential liability, and extends Citizen’s rate freezes for another year.
INTEREST RATES
The Federal Reserve Wednesday cut interest rates by a quarter percentage point to its lowest level in nearly four years, hoping to shore up the faltering economy. The move could lower Adjustable Rate Mortgage rates but does not directly affect long-term mortgage rates.
MORTGAGE RELIEF
The Financial Services Committee is scheduled to vote on its sweeping housing rescue package on Thursday, and the full United State House of Representatives is expected to consider the package next week. Yesterday, House Democrats defeated a number of amendments proposed by Republicans.
Economic Stimulus Payment
For many Americans they are looking forward to their rebate check from the Internal Revenue Service. Individuals are looking forward to their $600, married couples with no qualifying children $1,200, and married couples with qualifying children $1,200 with an additional $300 per child.
To some people receiving the rebate checks, the amount they are receiving is not what they expected - in fact it is below the above stated amounts.
The amount to be received is dependent upon the amount of adjusted gross income and the amount of income taxes which you incurred for 2007.
I found on the Internal Revenue Service’s website a calculator that you can use to determine how much of an economic stimulus check or rebate check you should be expecting. By clicking on this link - calculate your rebate check - after entering some basic information about yourself and income tax return, the amount of check will be made available.
Hope you find this little calculator useful.