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FACT SHEET: U.S. Treasury Department Office of Public Affairs releases Examples of How the Economic Growth Act of 2008 will Benefit Americans
See how the stimulus package will impact you...
From the Desk of Tom Carmody
Chairman of AHAA
“Housing Hits Trifecta of Bad News”
I certainly am aware that we are the midst of the worst housing situation in America since the early ‘90s, and one that may be the worst since the depression era. USA Today highlighted the problems on the front page of its Money section: high foreclosure rates, falling prices and vacant homes. Miami leads the way in falling prices, Nevada in foreclosures and vacant homes for sale across the nation are 800,000 than would be the case in a normal market. Most every market has suffered, and will continue to do so it seems.
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Creating a Budget
Most of you already have a history of creating a budget to meet goals. You probably had to create a budget in order to save for a down payment and closing costs for your new home. Your budget helped you determine whether you could afford the mortgage payment along with all your other financial obligations.
As a new homeowner, it is important that you continue to budget not only to be sure that you meet your monthly mortgage payment, but to budget for normal future home maintenance as well as unexpected expenses. Keep in mind that your budget may change from year to year based on your income and expenses. There are several things that you must take into account when you plan your budget annually. One of the first considerations is the change in your property tax status.
Try these sample budget sheets to get you started
Need a better tool to manage your home budget?
These are two leading Personal Finance Software products availble that go way beyond basic home budgeting. Many similiar products are available as well. While we do not endorse any specific product or service, we recommend you research these types of products and make a decision that best fits your needs.
Want to know more? See below: