The tax credit is available for first-time home buyers who purchase a home before Dec. 1. You can claim the credit on your 2008 or 2009 tax return, according to the IRS. However, you can't claim the credit until after you've purchased your home. Home buyers who want to claim the credit on their 2008 tax return have these options:

The disclosures RESPA requires lenders and others to give you estimates that make it easier to compare loans and services. Some disclosures outline typical costs and servicing policies, others force settlement participants to disclose affiliations.

Unless the bank has agreed upfront to accept a short sale, which is rare, no one knows for certain -- not the agent working with the buyer, not the listing agent nor the seller -- if a short sale offer will be accepted or rejected by the bank. Simply because a listing is advertised as a short sale does not mean it is a short sale. It means the listing agent and seller hope it will sell as a short sale and the bank will take the offer.

Don’t let common Short Sale Myths land you in foreclosure.  But, what exactly is a Short Sale?  A short sale is defined by Wikipedia “as a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan”.  A Lender may agree to a short sale by deciding that selling the property at a moderate loss is better than pressing the current owner into foreclosure.  The foreclosure involves hefty fees for the bank and poorer credit report outcomes for the borrower.

Today, 1 out of every 10 homeowners in America is behind on mortgage payments. These are tough and frustrating times and now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged. Negotiating a Short Sale with your lender has 5 key benefits and be the option for you.