TAXES - Here's the SKINNY!

The administration's budget plan proposes to limit the tax rate at which high-income taxpayers - those whose family income is $250,000 or more - could take itemized deductions only at 28%. For example, if you are in the 35 percent income tax bracket and you have tax deductions of $10,000, you would be able to only deduct 28% of that - $2,800: in essence, a tax hike. Such a limitation would impact homeowners and home values because the mortgage interest deduction for many families is the single biggest itemized deduction they take. The administration says that would raise $318 billion over the next 10 years, and would pay for other programs, like health care. Well, there are lots of ways to skin a cat, but no reason to skin homeowners!

1st Time Homebuyer $8,000 TAX CREDIT

The governement is offering first time homebuyers an unbelievable opportunity. If you purchase a home by 12/1/2009 and meet the requirements as a first time homebuyer you are eligible for up to an $8,000 tax credit that does NOT have to be repaid!

$8,000 Home Buyer Tax Credit at a Glance

The tax credit is for first-time home buyers only.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

Now is the time to buy and OIG Homes can help! Visit us at www.oig-homes.com for more information.

New Pics added for 3635 Hazelhurst!

The home at 3635 Hazelhurst is almost complete. We have had a ton of calls about this well priced, all remodeled home! Well, we are putting the finishing touches on the home and just put a few new pictures on the website click the link below to view them.

3635 Hazelhurst - NEW PICS!

Heres a sample of the exterior....

How is your Credit Score Calculated?

Credit scoring has been in existence since the late 1950’s, when it was first used by large retail stores and finance companies to support lending decisions.

Scoring has evolved over the years and today is utilized a broad range of potential creditors, as well as insurance companies, mortgage lenders and even employers. The FICO score --- introduced in 1989 by Fair Isaac Corporation --- has become the most commonly used measurement to evaluate an individual’s ability to repay debt and determine how favorable
payment terms will be.

Your credit score is consisted of the follow 5 categories:

Payment History - 35%
Amounts Owed - 30%
Length of new credit - 15%
New Credit - 10%
Types of Credit in use - 10%

To purchase your FICO score, visit
http://www.myfico.com/

Rebuilding your Credit after Bankruptcy

WILL I EVER GET CREDIT AGAIN?

Yes! A number of banks now offer "secured" credit cards where a debtor puts up a certain amount of money (as little as $200) in an account at the bank to guarantee payment. Usually the credit limit is equal to the security given and is increased as the debtor proves his or her ability to pay the debt.

Two years after a bankruptcy discharge, debtors are eligible for mortgage loans on terms as good as those of others, with the same financial profile, who have not filed bankruptcy. The size of your down payment and the stability of your income will be much more important than the fact you filed bankruptcy in the past.

The fact you filed bankruptcy stays on your credit report for 10 years. It becomes less significant the further in the past the bankruptcy is. The truth is, that you are probably a better credit risk after bankruptcy than before.

When a person files bankruptcy the record of the bankruptcy stays on the credit bureau report for 10 years. You can start to re-establish your credit by doing the following:

Talk to your banker and say you want to re-establish your credit rating;

Open a savings account;

Be a regular and persistent saver. Use the common techniques I am sure you have heard of: 1) Pay yourself first; 2) Take your next raise and save it; 3) Save 5 % of your pay; 4) Have your savings come right off your pay and into a separate savings account;

Take out a small loan using the savings account as collateral, and then pay it back;

Apply for a credit card, with a low limit and secure the limit by using your savings account as collateral;

Pay your credit card balances on time.

For more information visit us at www.oig-homes.com

New Homes available in April and May 2009!

We will have two new homes available in April and May 2009. The first is 4516 Haddington and the second is 4455 Grantley. Both these homes are in desirable west Toledo neighborhoods that are very family friendly. Check out the pics below and follow the links to our site for more information or other homes for sale.

4516 Haddington

4455 Grantley

Other property listings

FREE Online Application

4516 Haddington - Washington Local

4453 Grantley - Near Elmhurst Elem.

What is a Rent to Own home purchase?

What is the OIG Rent to Own program?
Our rent to own program is designed for individuals who are not ready to purchase a home today but would like the option to buy in the future. The reasons for not purchasing may vary from possible job transfer, new to the area, credit issues preventing financing or even just not being ready yet.. This program allows you to simply rent the home and if you choose to purchase we will assist in the purchase process at a later date.

What are the advantages over renting?
With the "OIG Rent to Own" program we will apply the deposit and first months rent toward the purchase of your home if you choose to buy. This allows you the flexibility of building equity over the course of your lease. We also allow you to convert your rent to own program to the lease option program at any time during your one year lease. When you convert to the lease option we will credit you $100.00 per month towards the purchase price for all payments made on time. Doesn't it make more sense having options?

What is the purchase price for my home?
The purchase price is predetermined and is typically set at the current appraised value of the home if not less. No surprises, no inflation and no worries. Your price is locked when you move into the home.

What about home repairs, property taxes and property insurance?
Don't worry! Both property taxes and property insurance is covered by us. There is no additional cost. As far as repairs go, we handle all repairs caused by faulty craftsmanship or product quality. We are unable to cover repairs caused by the tenant due to excessive wear and tear or abuse.

If this program seems like it may interest you please fill out our free online application here and write "rent to own program" in the comment section. We will have someone call you to discuss available homes and the process of getting you approved and into your new home today!