Purchasing a home has long been The American Dream and it is a wonderful feeling when you sign the final papers and receive the keys to your very own home. For the next few months, that special feeling comes with up to $8,000 money back guarantee for those who qualify, or 10% of the purchase price of the home, which ever comes first. The Worker, Homeownership and Business Assistance Act that was passed in 2009 allows qualifying applicants who have not purchased a home in the last three years to take advantage of this new home buyer tax credit refund. You have to have the legal sales contract in place by April 30, 2010, with the deal signed and closed by June 30, 2010. http://www.federalhousingtaxcredit.com/faq1.php

If you already own a home and you have lived there for five of the last eight years, you may qualify for a smaller tax credit of up to $6,500. Right now, there are a record number of foreclosures flooding the real estate listings and the prediction is that there are expected to be even more people who will be unable to make their mortgage payments in the coming months. There are homes of all sizes all over the United States and abroad. When you find a home and you are ready to buy, make sure you read all of the fine print on all documents before you sign your name. A lot of people who lost their home did so because they were too eager to sign and they unknowingly became obligated to repay a loan they could never afford. The too-high interest rates, unemployment and financial problems are to blame for the unpaid loans and the loss of homes.

You can get information that will give you excellent tips and pointers to help you no matter what type of home you are looking for. If you want to know how to find mobile homes for sale, if you want to know how to find historic homes for sale or if you are looking for one of the new condos for sale in the heart of the city, the information below is for you.

Do you really need to pay a real estate agent to help you find a home when you you know you can find one yourself? The answer to that is yes and no. Here is part of the process of buying a home and what you will need to do:

• Locate the homes for sale
• Tour prospective properties for a personal inspection
• Finding a trusting lender
• Get and finish the loan applications.
• Negotiate with the lender(s) for affordable interest rates.
• Get all of the proper paperwork ready

http://portal.hud.gov/portal/page/portal/HUD/topics/buying_a_home If you can do this yourself, then you can be your own agent and buy your home without a real estate agency. But, when you do hire a real estate agent to help you find a home, they will do all of the above and a whole lot more to make sure you find the home you are looking for. You can visit a real estate agency in your area and they can show you a list of the foreclosed homes for sale. http://www.realtor.org/home_buyers_and_sellers/why_use

Avoid predatory lenders when you are trying to get a mortgage loan to buy your home. The loans from these lenders will steal the equity in the home and increase your mortgage payments by applying escalating interest rates. Most of their illegal practices include failure to disclose pertinent information about your loan and encouraging you to provide false information or omit information that will (if included) affect the chances of an approval. When you get a loan from a predatory lender, you can expect to see huge fees and charges added to the amount you will have to repay. http://www.fanniemae.com/kb/index?page=home&c=homebuyers_avoidingpredatorylending

There are different branches of the government that regularly acquire homes and property from VA loan defaults, bank closures, IRS liens and several other ways. These government agencies have homes all over the United States and almost all of them are for sale at a discount to anyone who qualifies. There have been so many foreclosures lately, that has left each branch of the government with a huge inventory of homes for sale. These homes have to be sold. The banks want them off of their books and the agencies are removing some of the red tape so that people can purchase the home more quickly and easily. When these homes are acquired, there are so many of them sitting empty that they are becoming an eyesore for most communities. The attention and the man-hours these empty homes require is too costly. Therefore, the properties are eagerly sold to those who qualify.

U.S Department of Housing and Urban Development - (HUD) has homes for sale and you can get free listing of thousands of foreclosed HUD homes right on their website. There is a comprehensive list of homes, in every State, that you can look through to find a home that may be sold at up to 40% off the market value. http://portal.hud.gov/portal/page/portal/HUD/topics/hud_homes

Federal Deposit Insurance Corporation (FDIC) - Whenever a bank fails, the FDIC becomes responsible for the assets owned by the bank. These assets include the real estate and foreclosed properties. They also have a free list of foreclosed properties and bargain homes for sale. http://www2.fdic.gov/drrore/ http://www.fdiclistings.com/default.asp

US Department of The Treasury Internal Revenue Service - The IRS will seize the property of individuals and businesses when taxes are not paid. This seized property, which includes homes and other real estate is then resold through auctions that are open to the public. http://www.ustreas.gov/auctions/irs/cat_Real7.htm

Department of Veteran Affairs - These are foreclosures from people who defaulted on loans that were financed through the Veterans Administration. You can get a tour of available homes and get a list of properties in your area from your real estate broker. http://www.homeloans.va.gov/pm.htm https://va.equator.com/index.cfm?

This is a list of the major government agencies that have foreclosed homes for sale. Their websites have all of the information you need to choose and purchase any of the listed properties. You can get step-by-step instructions on what you need to do to find and purchase any of the available homes online.

If you want to buy directly from the seller, it's easy if you know how to find home for sale by owner. There are dozens of websites dedicated to home sales that are sold directly from the owner, with or without a real estate agent. You can find any type of home, the only difference is - these homes are listed by the owner, instead of a government agency or real estate agency. These are literally thousands of listings and you can find foreclosures, land for sale, foreclosed condos, homes and other property. http://www.homes-for-sale-by-owner.info/single-family-houses.html

When you buy a home that is sold by the owner, here is a list of the documents you need to have available:

• Proof of income - You should have your check stubs from the last 30 days.
• Copies of your W-2 forms for the last two years - These are required for each applicant and the person(s) responsible for making the mortgage payments.
• Proof of your earnest money deposit - You have to give the seller a check for a deposit, this will help the lender determine how much money is needed at closing.
• Credit history - You Social Security number and your date of birth is needed to check your credit history and financial background.
• Homeowners insurance - You have to have homeowners insurance for the full coverage of the property.
• Title insurance - The title insurance will tell the lender who own the property, the legal description of the property and the taxes owed.
• Purchase agreement - A signed purchase agreement will make the whole process go a little faster.
• Proof of assets - This is to let the lender know if you have the money you will need when it is time to close the deal. Your savings and checking accounts, investments and 401(k) will be scrutinized.

http://www.forsalebyowner.com/education/index.php/buying-a-home/the-home-search/54-the-home-search/300-thinking-about-purchasing-a-home-

This information listed above will make the process of buying a home directly from the owner go smoother and faster. Double check your documents and check to make sure the person selling the home is the actual owner of the property.