Part Two - Julie Collins

Good Morning Friends!

As promised, here is the second installment of introducing my friend Julie Collins.  Julie is an up and coming star.  She is a dynamic performer.  Please read my prior posting to learn all about her.  Today's entry is my interview I did with Julie. 

@dwo34:  Hi Julie! Please tell us about how you got involved with the "Hive Mind Movie"

@jc76:  I joined Twitter for other reasons than my music and acting but people knew I was Julie Collins from Myspace so music was talked about, Ladd & I started talking and he liked my "Turn This World Around" and said it would be a good song to open the film. So I agreed and the rest is history.

@dwo34:  Tell us about your roll in the movie

@jc76: Ladd then asked if I'd read for the part of Hive Mind I recorded the script and got it to him asap thankfully he liked what I did and I landed the role of The Hive mind .

@dwo34:  Did you have to do anything special to prepare yourself for the movie?

@jc76: I read the script a few times and familiarized myself with the character, I knew it was almost Borg like but sexy and sassy with a sense  of humour, I hope this comes across in my dialogue with Doug Trench, Last Man On Earth!

@dwo34: Tell me about your prior experiences in the entertainment field and how does the Hive Mind Movie compare

@jc76; since I was 3 I've Been performing on stage theatre & TV always auditioning for bands and playing for charity as a Madonna impersonator, films - I was  in Hitchhikers, Guide to the Galaxy and Wimbledon and also play lead role in Heather Brothers Production in a film called Bullets Buzz and Mr Fish, i have been an extra in so many things! I love it! (Laughs) I also secured a record deal in USA for 5 years in 2000 but my mother contracted cancer and I wanted to be with her. My deal expired in 2005.  I have released my work in iTunes & amazon now & hoping for another good deal.

@dwo34: What was most fun about being a part of this movie?

@jc76: I love the idea that all humans are devoured by me as hive! They will have no choice but to hear me sing Lol,

@dwo34: Your music is so cool, what and who are your inspirations?

@jc76: thanks. I have always sang since I was a small child I love Smokey Robinson & the Beatles Pink Floyd & older Madonna stuff! Karen Carpenter & Barbara Streisand were great singers to emulate.

The songs on my EP is a diary if you like of what I have done, I like to be varied, I'm no one trick pony (smiles and laughs)

@dwo34: What's on the horizon for Julie Collins?

@jc76: I'm recording all the time & looking to tour next year, hoping I land another deal again as I'm ready now more than ever to give it my best shot! I will act more as well if I get the chance, I believe I may work with Ladd again and  this time you'll see my face as well as hear my voice.

 I am aiming for the top! 

@dwo34: How can your fans stay in tune with you?

@jc76: my fans have been very loyal, I have Myspace friends that are like family now, some even have a poster of me on their Walls. You can find me

 Amazon for my work > http://bit.ly/25gdBI  http://hereico.me/JulieCollins xxxx        www.myspace.com/juliecollins                                            

  YouTube @  madjoolie 13

  EP Julie Collins (7 track) & The Hive Mind Movie are for sale now in Amazon. I'm sure people will love the film & dance and sing to my EP.

@dwo34:  Thank you so much Julie! You are an awesome performer! Keep rocking!

@jc76:      You are so welcome David.  I'm a firm believer of going for your dreams , I have been bullied taunted and upset by some people as they think I should get a proper job. Well this is my chosen field, entertainment and I love performing for you all!  Never be afraid to dream. Plus I'm a good role model as I'm a good size 12, I love my food, and I have many many stories. I'm going to write a book eventually! 

@dwo34: We can't wait. World, meet Julie Collins!

It's December 15, 2009 and I am Bullish on Sacramento and Julie Collins!

David Ohara

@dwo34

dwo34@aol.com

Meet Julie Collins the star of The Hive Mind!

Good Evening Everyone! 

I want to introduce to my friend Julie Collins! She is a star ready to shine and she has the lead role as the "Hive" in the new release "The Hive Mind."  She is a talented and beautiful performer.  My introduction to Julie will be in two parts. The first part will be an introduction to Julie and information on the new movie she stars in "The Hive Mind."  Please enjoy.

About the movie "The Hive Mind." Doug Trench is the last man on earth. Before humanity was assimilated by Hive Mind, he'd been heir to the kingdoms of Limbaugh, Hannity, Levin, Boortz and Beck. Now, running out of supplies in his undisclosed broadcast bunker, driven half-mad from isolation after twenty years, Trench fires up his radio show one last time to fight the Hive Mind with half his brain tied behind his back.

The final battle between individuality and collectivism begins...

"When our own President said we're too individualistic and need to think collectively, well, that's horrifying," said Ladd. "So naturally as a filmmaker I thought: scifi-horror film! Eco-friendly collectivist techno-zombies!"

Zombies created by a nanotech cell phone that merges with your brain. Dubbed the "I-Mind," the phone lets you Twitter telepathically, download movies straight to your brain, and keep your contacts forever. Britney, J-Lo, Pamela and Paris all love their I-Minds. But there's a sinister side-effect: loss of free will to the collective Hive consciousness. Everyone is either assimilated or killed in Hive's eco-efforts to reduce the population.

Hive Mind is the future of humanity. It is a collective consciousness born from implant-cell-phone-technology gone awry, comprised of every human being on earth from Britney Spears to John Kerry...

The lone hold-out is Doug Trench, conservative talk-show host and stevedore of freedom. He's lived in a bunker for twenty years, ever since humanity was consumed by the collective.

Hive Mind rules Earth with love. Eco-friendly and imminently progressive, Hive Mind is pollution free, boasting a completely carbon-free footprint. Hive Mind is poverty-free, war-free, and freedom-free. It brooks no dissent for it has no dissent.

It's described as a techno-collectivist horror film with a cast of billions

One of the stars of the movie is Julie Collins. Julie is a friend of mine who I met on Twitter.  I was excited when I learned that Julie was selected to be in the movie and be cast as the title roll of Hive.  

Julie was Born in Lincolnshire UK 19th December 1973. She was introduced to music through her parents. Julie says her "father was a drummer & footballer." As a child, Julie starred in many shows & appeared as an extra in television and film. In her teens and early twenties she auditioned for girl bands, film and television. In her own words "I was always out there!"  

When she returned home. she auditioned to be a Red Coat (big gig in UK) 4000 people auditioned and only 30 selected. Julie was one of the 30 and loved it but it was "hard work." Julie also participated in many bands and wrote "This This World Around" this was the first song she wrote. After some small gigs in all girl bands, Julie knew she wanted to be a soloist. In 1991, Julie says she was discovered at a karaoke bar in Brighton by a man called Sir David Land (he discovered Sir Andrew Lloyd Webber & Sir Tim Rice,) he ran the Theatre Royal in Brighton and invited Julie to audition for Cinderella pantomime, and she got it!  Unfortunately, Julie got ill and had to drop out. More auditions and more gigs led to Julie responding to an ad in NME looking for the next "Big Thing!" Needless to say Julie, was the next "Big Thing" and signed a five year deal in 1999! That same year, Julie's mother got cancer and she so wanted to share her dream with her, but she fought for 4 years with Julie by her side. Julie  went to LA shot her video, on her Myspace page, and did some promotional gigs. Julie's first single was a Beatles cover "Something" (thanks to Olivia Harrison & Wesley Magoogan for producing it.) Julie was due to go on The Jay Leno Show and a tour was getting arranged but her mother took a turn for the worse and she returned home because to care for her mother. Julie's mother passed away from cancer and since 2006 Julie has been recording quietly from her bedroom  and has had to battle depression and grief. Julie joined Twitter and met Ladd, the director of the "Hive" Julie says "he liked my songs, especially, Turn This World Around and Talk Dirty and he asked if they could be in his film The Hive Mind." Julie was very excited that her songs were to be featured in the film. Then Ladd asked if Julie would play the voice of Hive Mind!!! Julie adds "I am so elated and humbled to be so lucky and grateful to Ladd for seeing my potential!"  Stay tuned to learn more about Julie Collins, UK dreamer who never gave up.... Ever! Read the interview tomorrow. 

It's December 8, 2009 and I am Bullish on Sacramento!

David Ohara

@dwo34

dwo34@aol.com

Housing Affordability Reaches 70.1%!!!

Housing Affordability Record-High Level  for Third Consecutive Quarter

November 19, 2009 - Nationwide housing affordability, bolstered by affordable interest rates and low house prices, hovered for the third consecutive quarter near its highest level since the series was first compiled 18 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released today.

 

The HOI showed that 70.1 percent of all new and existing homes sold in the third quarter of 2009 were affordable to families earning the national median income of $64,000, down slightly from a near-record 72.3 percent during the previous quarter and up from 56.1 percent during the third quarter of 2008.

 

"At a time when housing is at its most affordable, we applaud the recent actions taken by Congress and President Obama to stimulate housing by extending the federal tax credit beyond its Nov. 30 deadline and expanding it to a wider group of eligible home buyers," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "With interest rates now lower than last quarter, the tax credit will encourage even more home buyers to enter the market and help stabilize housing and the economy by creating new jobs, stimulating home sales, reducing foreclosures, cutting excess inventories and stabilizing home prices."

 

Indianapolis was the most affordable major housing market in the country during the third quarter, a position the metro area now has held for 17 consecutive quarters. Almost 95 percent of all homes sold were affordable to households earning the area's median family income of $68,100.

 

Also near the top of the list of the most affordable major metro housing markets were Youngstown-Warren-Boardman, Ohio-Pa., and three Michigan metropolitan areas, Detroit-Livonia-Dearborn; Warren-Troy-Farmington Hills; and Grand Rapids-Wyoming. 

 

Five smaller housing markets posted even higher affordability scores than Indianapolis, with Kokomo, Ind. outscoring all others. There, 96.7 percent of homes sold during the third quarter of 2009 were affordable to median-income earners. Other smaller housing markets near the top of the index included Springfield, Ohio; Bay City, Mich.; Mansfield, Ohio; and Elkhart-Goshen, Ind.

 

New York-White Plains-Wayne, N.Y.-N.J., was the nation's least affordable major housing market during the third quarter of 2009, the New York metro area's sixth consecutive appearance at the bottom of the list. Slightly more than 19 percent of all homes sold during the third quarter were affordable to those earning the New York area's median income of $64,800.

 

The other major metro areas near the bottom of the affordability scale included San Francisco; Honolulu; Santa Ana-Anaheim-Irvine, Calif.; and Nassau-Suffolk, N.Y.

 

San Luis Obispo-Paso Robles, Calif. was the least affordable of the smaller metro housing markets in the country during the third quarter. Others near the bottom of the chart included Ocean City, N.J.; Santa Cruz-Watsonville, Calif.; Santa Barbara-Santa Maria-Goleta, Calif.; and Brownsville-Harlingen, Texas.

 

It's December 2, 2009 and I am Bullish on Sacramento!

David Ohara

@dwo34

dwo34@aol.com

Buyer Update! Mission Accomplished

Happy Thanksgiving Everyone!

I wanted to give you all an update on a previous Buyer that I was working with and had blogged about.  The Buyer was referred to as "Ryno."  Ryno is a teacher at Inderkum High School in Natomas and is looking for a home in the North Natomas area.  As you might remember, Ryno and I have been searching for a home for a few months now.  We have made offers on several different homes, only to be outbid by another Buyer.

Last week, we looked at a nice 3 bedroom, 2 bath home in a great neighborhood.  After consideration, we decided to submit an offer on it.  The home is in immaculate shape, with new stainless steel appliances, palm trees, hardwood floors, fresh paint, tile roof, close to shopping, parks, and most importantly, his work.  We wrote up a nice and clean offer for the home, and I submitted it to the Seller's agent.  After we discussed the offer, the agent told me that he was going to recommend that the Seller accept our offer as written.  I enjoy working with quality agents that you can communicate with. Needless to say, Ryno had his offer accepted as written! He should be able to get the keys to his new home a few days after Christmas! Congratulations Ryno! I know you will be happy at your new home.

It's November 25, 2009 and I am extremely Bullish on Sacramento!

David Ohara

@dwo34

dwo34@aol.com

Flipping - The 90 Day Wait Period

Good Evening Everyone!

I have been getting a lot of inquiries about the 90 day "flipping rule" from several people.  Essentially, some lenders will not underwrite a loan on a property that has been purchased by an investor with the intention of "flipping" the property for a quick profit.  These lenders require that these investors hold title for at least 90 days before they will consider the property for a loan.  The 90 day rule does not apply in situations where the lending institutions that acquired the property back through the foreclosure process.  Below is the actual language directly from the United States Department of Housing and Urban Development.

 

HUD No. 03-055

BUSH ADMINISTRATION PROVIDES HOMEBUYERS NEW PROTECTION FROM PREDATORY LENDING PRACTICE

New "Anti-Flipping" Rule Holds Lenders, Sellers and Appraisers Accountable

WASHINGTON - Housing and Urban Development Secretary Mel Martinez today announced a new initiative in the Bush Administration's efforts to crack down on predatory lending. HUD published a final rule today in the Federal Register addressing property "flipping" on mortgages insured by the Federal Housing Administration (FHA).

Property "flipping" occurs when a recently acquired property is resold for a considerable profit with an artificially inflated value.

"The Bush Administration is committed to maintaining a strong housing market in which consumers can feel confident that they are protected from unscrupulous practices," Martinez said. "This final rule represents a major step in our efforts to eliminate predatory lending practices."

Predatory lending results when home purchasers become unwitting victims of lenders, sellers and appraisers, often working together. The unsuspecting homebuyers either purchase homes with sales prices far in excess of the fair market value, or are substantially overcharged with costs associated with obtaining a mortgage.

The final rule, "FR-4615 Prohibition of Property Flipping in HUD's Single Family Mortgage Insurance Programs," (view as TEXT or view as PDF file) makes recently flipped properties ineligible for FHA mortgage insurance. It also allows FHA to better manage its insurance risk by requiring additional support for a property's value when a significant increase between sales occurs. Features include:

Sale by Owner of Record: Only the owner of record may sell a home to an individual who will obtain FHA mortgage insurance for the loan; it may not involve any sale or assignment of the sales contract, a procedure often observed when the homebuyer is determined to have been a victim of predatory practices.

Time Restrictions on Re-sales:

Re-sales occurring 90 days or less following acquisition will not be eligible for a mortgage to be insured by FHA. FHA's analysis disclosed that among the most egregious examples of predatory lending was on "flips" that occurred within a very brief time span, often within days. Thus, the "quick flips" will be eliminated.

Re-sales occurring between 91 and 180 days will be eligible provided that the lender obtains an additional appraisal from an independent appraiser based on a re-sale percentage threshold established by FHA; this threshold would be relatively high so as to not adversely affect legitimate rehabilitation efforts but still deter unscrupulous sellers, lenders, and appraisers from attempting to flip properties and defraud homebuyers. Lenders may also prove that the increased value is the result of rehabilitation of the property.

Re-sales occurring between 90 days and one year will be subject to a requirement that the lender obtain additional documentation to support the value to address circumstances or locations where HUD identifies property flipping as a problem. This authority would supersede the higher expected threshold established for the above-mentioned 90 to 180 day period and will be invoked when FHA determines that substantial abuse may be occurring in a particular locality.

Other recent actions by the Bush Administration to protect homeowners from predatory lending and promote homeownership include:

A proposed rule making lenders accountable for appraisals on mortgage insured by FHA.

A recent plan announced by HUD to expand protection of homeowners by proposing performance standards for appraisers of FHA-single family homes under its Appraiser Watch Initiative. Under Appraiser Watch, some 25,000 appraisers will be held accountable for faulty appraisals, which too often lead to default and foreclosure. FHA will monitor appraisers' default and claim rates and will levy sanctions - including removal from its list of approved appraisers - against those whose rates are excessive. 

A proposal to reform the regulatory requirements of the Real Estate Settlement Procedures Act (RESPA) that would make the process of buying and refinancing a home significantly simpler, potentially less expensive and would protect consumers from unscrupulous lending practices. 

The "Homebuyer Bill of Rights," which requires greater disclosure of costs associated with buying a home, allows consumers more choices in choosing providers of closing services, limits excessive settlement fees and encourages innovation and competition in the marketplace.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities, creating affordable housing opportunities for low-income Americans, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet.

If you have any questions about this or a property, please let me know and I can do the research for you.

It's November 17, 2009 and I am very Bullish on Sacramento

David Ohara

@dwo34

dwo34@aol.com

Details of the Federal Tax Credit

Good Evening Everyone:

Earlier this month, President Obama signed the extension of the tax credit for home buyers.  Below is some detailed information about this tax credit and how it now includes owners looking to move up.  The bulk of this information was obtained from the National Association of Home Builders.

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

1. Who is eligible to claim the $8,000 tax credit?
   First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and on or before April 30, 2010. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. A limited exception exists for certain contract for deed purchases and installment sale purchases. See the IRS website for more detail.
   
   However, the law also allows home sales occurring by June 30, 2010 to qualify, provided they are due to a binding sales contract in force on or before April 30, 2010.
   
   Persons who are claimed as dependents by other taxpayers or who are under age 18 are not qualified for the tax credit program.
   
2. What is the definition of a first-time home buyer?
   The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
   
   For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, IRS Notice 2009-12 allows unmarried joint purchasers to allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
   
3. How is the amount of the tax credit determined?
   The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
   
4. Are there any income limits for claiming the tax credit?
   Yes. For sales occuring after November 6, 2009, the income limit for single taxpayers is $125,000; the limit is $225,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $125,000 for single taxpayers and $225,000 for married taxpayers filing a joint return. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $145,000 (single) or $245,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
   
5. The income limits for claiming the tax credit were raised when the tax credit was extended. Are the higher limits retroactive?
   No. The new income limits are only applicable to purchases occurring after November 6, 2009.
   
   The income limits for sales occuring on or after January 1, 2009 and on or before November 6, 2009 are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
   
6. What is “modified adjusted gross income”?
   Modified adjusted gross income or MAGI is defined by the IRS. To find it, a taxpayer must first determine “adjusted gross income” or AGI. AGI is total income for a year minus certain deductions (known as “adjustments” or “above-the-line deductions”), but before itemized deductions from Schedule A or personal exemptions are subtracted. On Forms 1040 and 1040A, AGI is the last number on page 1 and first number on page 2 of the form. For Form 1040-EZ, AGI appears on line 4 (as of 2007). Note that AGI includes all forms of income including wages, salaries, interest income, dividends and capital gains.
   
   To determine modified adjusted gross income (MAGI), add to AGI certain amounts of foreign-earned income. See IRS Form 5405 for more details.
   
7. If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?
   Possibly. It depends on your income. Partial credits of less than $8,000 are available for some taxpayers whose MAGI exceeds the phaseout limits.
   
8. Can you give me an example of how the partial tax credit is determined?
   Just as an example, assume that a married couple has a modified adjusted gross income of $235,000. The applicable phaseout to qualify for the tax credit is $225,000, and the couple is $10,000 over this amount. Dividing $10,000 by the phaseout range of $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time home buyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.
   
   Here’s another example: assume that an individual home buyer has a modified adjusted gross income of $138,000. The buyer’s income exceeds $125,000 by $13,000. Dividing $13,000 by the phaseout range of $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.
   
   Please remember that these examples are intended to provide a general idea of how the tax credit might be applied in different circumstances. You should always consult your tax advisor for information relating to your specific circumstances.
   
9. How is this home buyer tax credit different from the tax credit that Congress enacted in early 2009?
   The tax credit’s income limits were increased, the documentation requirements were tightened, and the program's deadlines were extended.
   
10. How do I claim the tax credit? Do I need to complete a form or application? Are there documentation requirements?
    You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on line 67 of the 1040 income tax form for 2009 returns (line 69 of the 1040 income tax form for 2008 returns). No other applications are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and first-time home buyer tests. Note that you cannot claim the credit on Form 5405 for an intended purchase for some future date; it must be a completed purchase. Home buyers must attach a copy of their HUD-1 settlement form (closing statement) to Form 5405 as proof of the completed home purchase.
    
11. What types of homes will qualify for the tax credit?
    Any home that will be used as a principal residence will qualify for the credit, provided the home is purchased for a price less than or equal to $800,000. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.
    
    It is important to note that you cannot purchase a home from, among other family members, your ancestors (parents, grandparents, etc.), your lineal descendants (children, grandchildren, etc.) or your spouse or your spouse’s family members. Please consult with your tax advisor for more information. Also see IRS Form 5405.
    
12. I read that the tax credit is “refundable.” What does that mean?
    The fact that the credit is refundable means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit.
    
    For example, if a qualified home buyer expected, notwithstanding the tax credit, federal income tax liability of $5,000 and had tax withholding of $4,000 for the year, then without the tax credit the taxpayer would owe the IRS $1,000 on April 15th. Suppose now that the taxpayer qualified for the $8,000 home buyer tax credit. As a result, the taxpayer would receive a check for $7,000 ($8,000 minus the $1,000 owed).
    
13. Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
    Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been “purchased” on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or after January 1, 2009 and on or before April 30, 2010 (or by June 30, 2010, provided a binding sales contract was in force by April, 30, 2010).
    
    In contrast, for newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date.
    
14. Can I claim the tax credit if I finance the purchase of my home under a mortgage revenue bond (MRB) program?
    Yes. The tax credit can be combined with an MRB home buyer program. Note that first-time home buyers who purchased a home in 2008 may not claim the tax credit if they are participating in an MRB program.
    
15. I live in the District of Columbia. Can I claim both the Washington, D.C. first-time home buyer credit and this new credit?
    No. You can claim only one.
    
16. I am not a U.S. citizen. Can I claim the tax credit?
    Maybe. Anyone who is not a nonresident alien (as defined by the IRS), who has not owned a principal residence in the previous three years and who meets the income limits test may claim the tax credit for a qualified home purchase. The IRS provides a definition of “nonresident alien” in IRS Publication 519.
    
17. Is a tax credit the same as a tax deduction?
    No. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $8,000 in income taxes and who receives an $8,000 tax credit would owe nothing to the IRS.
    
    A tax deduction is subtracted from the amount of income that is taxed. Using the same example, assume the taxpayer is in the 15 percent tax bracket and owes $8,000 in income taxes. If the taxpayer receives an $8,000 deduction, the taxpayer’s tax liability would be reduced by $1,200 (15 percent of $8,000), or lowered from $8,000 to $6,800.
    
18. I bought a home in 2008. Do I qualify for this credit?  No, but if you purchased your first home between April 9, 2008 and January 1, 2009, you may qualify for a different tax credit. Please consult with your tax advisor for more information.

If you need anymore information about the tax credit, please let me know and I can get it for you.  

It's November 13, 2009 and I am very Bullish on Sacramento

David Ohara

@dwo34

dwo34@aol.com

Happy Veteran's Day

Good Evening Everyone!

The following is an excerpt from The United States Department of Veteran Affairs.  I found this to be the best description of what this day symbolizes. On November 11, we pay homage to the true American Hero!

History of Veterans Day

World War I – known at the time as “The Great War” - officially ended when the Treaty of Versailles was signed on June 28, 1919, in the Palace of Versailles outside the town of Versailles, France. However, fighting ceased seven months earlier when an armistice, or temporary cessation of hostilities, between the Allied nations and Germany went into effect on the eleventh hour of the eleventh day of the eleventh month. For that reason, November 11, 1918, is generally regarded as the end of “the war to end all wars.”

In November 1919, President Wilson proclaimed November 11 as the first commemoration of Armistice Day with the following words: "To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations…"

The original concept for the celebration was for a day observed with parades and public meetings and a brief suspension of business beginning at 11:00 a.m.

The United States Congress officially recognized the end of World War I when it passed a concurrent resolution on June 4, 1926, with these words:

Whereas the 11th of November 1918, marked the cessation of the most destructive, sanguinary, and far reaching war in human annals and the resumption by the people of the United States of peaceful relations with other nations, which we hope may never again be severed, and

Whereas it is fitting that the recurring anniversary of this date should be commemorated with thanksgiving and prayer and exercises designed to perpetuate peace through good will and mutual understanding between nations; and

Whereas the legislatures of twenty-seven of our States have already declared November 11 to be a legal holiday: Therefore be it Resolved by the Senate (the House of Representatives concurring), that the President of the United States is requested to issue a proclamation calling upon the officials to display the flag of the United States on all Government buildings on November 11 and inviting the people of the United States to observe the day in schools and churches, or other suitable places, with appropriate ceremonies of friendly relations with all other peoples.

An Act (52 Stat. 351; 5 U. S. Code, Sec. 87a) approved May 13, 1938, made the 11th of November in each year a legal holiday—a day to be dedicated to the cause of world peace and to be thereafter celebrated and known as "Armistice Day." Armistice Day was primarily a day set aside to honor veterans of World War I, but in 1954, after World War II had required the greatest mobilization of soldiers, sailors, Marines and airmen in the Nation’s history; after American forces had fought aggression in Korea, the 83rd Congress, at the urging of the veterans service organizations, amended the Act of 1938 by striking out the word "Armistice" and inserting in its place the word "Veterans." With the approval of this legislation (Public Law 380) on June 1, 1954, November 11th became a day to honor American veterans of all wars.

Later that same year, on October 8th, President Dwight D. Eisenhower issued the first "Veterans Day Proclamation" which stated: "In order to insure proper and widespread observance of this anniversary, all veterans, all veterans' organizations, and the entire citizenry will wish to join hands in the common purpose. Toward this end, I am designating the Administrator of Veterans' Affairs as Chairman of a Veterans Day National Committee, which shall include such other persons as the Chairman may select, and which will coordinate at the national level necessary planning for the observance. I am also requesting the heads of all departments and agencies of the Executive branch of the Government to assist the National Committee in every way possible."

On that same day, President Eisenhower sent a letter to the Honorable Harvey V. Higley, Administrator of Veterans' Affairs (VA), designating him as Chairman of the Veterans Day National Committee.

In 1958, the White House advised VA's General Counsel that the 1954 designation of the VA Administrator as Chairman of the Veterans Day National Committee applied to all subsequent VA Administrators. Since March 1989 when VA was elevated to a cabinet level department, the Secretary of Veterans Affairs has served as the committee's chairman.

The Uniform Holiday Bill (Public Law 90-363 (82 Stat. 250)) was signed on June 28, 1968, and was intended to ensure three-day weekends for Federal employees by celebrating four national holidays on Mondays: Washington's Birthday, Memorial Day, Veterans Day, and Columbus Day. It was thought that these extended weekends would encourage travel, recreational and cultural activities and stimulate greater industrial and commercial production. Many states did not agree with this decision and continued to celebrate the holidays on their original dates.

The first Veterans Day under the new law was observed with much confusion on October 25, 1971. It was quite apparent that the commemoration of this day was a matter of historic and patriotic significance to a great number of our citizens, and so on September 20th, 1975, President Gerald R. Ford signed Public Law 94-97 (89 Stat. 479), which returned the annual observance of Veterans Day to its original date of November 11, beginning in 1978. This action supported the desires of the overwhelming majority of state legislatures, all major veterans service organizations and the American people.

Veterans Day continues to be observed on November 11, regardless of what day of the week on which it falls. The restoration of the observance of Veterans Day to November 11 not only preserves the historical significance of the date, but helps focus attention on the important purpose of Veterans Day: A celebration to honor America's veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good.

It's November 11, 2009 and I am very Bullish on Sacramento

David Ohara

@dwo34

dwo34@aol.com