/PRNewswire/ -- Atlanta real estate firms Coldwell Banker Joe T. Lane Realty Inc., Coldwell Banker Bullard Realty Company Inc. and Rodney Lee Foreman, one of their former real estate agents, have agreed to pay $160,000 to settle allegations that they illegally steered prospective homebuyers toward and away from certain neighborhoods based on race and color, the Justice Department announced today.
The agreement, subject to approval by a federal court in Atlanta, resolves the Justice Department's Jan. 25, 2009, lawsuit which originated from a complaint filed by the National Fair Housing Alliance (NFHA) with the U.S. Department of Housing and Urban Development (HUD). Testing conducted by NFHA of Coldwell Banker Joe T. Lane Realty Inc. in 2003 and 2004 revealed that Foreman had steered white testers towards areas that are predominately white and away from areas that are predominately African-American because of race or color, in violation of the Fair Housing Act.
According to the complaint, before showing the tester any homes, Foreman told the tester that he did not know where to take the tester because he could not tell from talking on the telephone whether the tester was white. Foreman said words to the effect that "I didn't know if you were a Caucasian or not over the phone." After an investigation, HUD found reasonable cause to believe that unlawful discrimination had occurred and referred the matter to the Justice Department.
"People have the right to make fully informed housing choices. Unlawful steering by real estate agents frustrates this right and perpetuates segregated communities," said Thomas E. Perez, Assistant Attorney General for the Civil Rights Division. "The work undertaken by NFHA and HUD is critical to our efforts to eliminate such discrimination. Real estate agents nationwide should take note that the Department of Justice works vigilantly to combat this type of discrimination."
"This case demonstrates that racial steering is not a relic of the past. Effective civil rights law enforcement, including testing, can and must put an end to housing discrimination," said John Trasvina, HUD's Assistant Secretary for Fair Housing and Equal Opportunity.
Fighting illegal housing discrimination is a top priority of the Justice Department. The Federal Fair Housing Act prohibits discrimination in housing on the basis of race, color, religion, sex, familial status, national origin and disability.
More information about the Civil Rights Division and the laws it enforces is available at http://www.justice.gov/crt. Persons who believe they have experienced or witnessed unlawful housing discrimination may call the Housing Discrimination Tip Line at 1-800-896-7743, e-mail the Justice Department at fairhousing@usdoj.gov, or contact HUD at 1-800-669-9777. More information about the Fair Housing Act can also be found at www.justice.gov/fairhousing or www.hud.gov/fairhousing.
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Showing posts with label homebuyer. Show all posts
Showing posts with label homebuyer. Show all posts
Wednesday, February 3, 2010
Tuesday, December 22, 2009
Buying a home or making green home improvements? Don't miss out on these tax credits
(ARA) - A wide range of tax law changes over the last year will result in considerable savings for millions of Americans on their 2009 federal tax returns. Homebuyers and homeowners have some of the most to gain from the changes.
Understanding the qualifications for home-related credits can be confusing and intimidating. Jessi Dolmage, spokeswoman for 2nd Story Software, the makers of TaxACT, breaks them down.
"If you've never owned or haven't owned a principal residence during the three years prior to the purchase date, you may qualify for the First-Time Homebuyer Credit. The purchase date must fall after April 8, 2009 and before May 1, 2010, with closing to take place before July 1, 2010. It's equal to 10 percent of the purchase price, up to a maximum of $8,000. You only have to repay the money if the home ceases to be your primary residence or is sold within three years of purchase," says Dolmage.
Property cannot be acquired from a relative, and married taxpayers must both qualify as first-time homebuyers if filing jointly. The credit can be claimed on a 2009 return or an amended 2008 return.
The Worker, Homeownership and Business Assistance Act of 2009 extended the credit's closing date from Nov. 30, 2009, to April 30, 2010, and added rules for homes purchased after Nov. 6, 2009, including:
* You must be at least 18 on the purchase date (only one spouse must be 18) and cannot be claimed as a dependent.
* Purchase price cannot exceed $800,000.
* If the sale doesn't close by April 30, 2010, you may still qualify if there's a binding contract to purchase by that date. The sale must close before July 1, 2010, and the credit cannot be claimed before the closing date.
Purchase date and modified adjusted gross income (MAGI) determine credit phase out. If the purchase date was before Nov. 7, 2009, full credit is available to those with an MAGI up to $75,000 ($150,000 for joint filers). If you have an MAGI between $75,000 and $95,000 ($150,000 and $170,000 for joint filers), you're eligible for reduced credit. Higher incomes do not qualify.
If the purchase date is after Nov. 6, 2009, full credit is available to those with an MAGI of up to $125,000 ($225,000 for joint filers). If your MAGI falls between $125,000 and $145,000 ($225,000 and $245,000 for joint filers), you could receive a reduced credit. Higher incomes don't qualify.
"Current homeowners looking for a different or new home may also qualify for the First-Time Homebuyer Credit," Dolmage says. "The Worker, Homeownership and Business Assistance Act modified the credit to allow for up to $6,500 if you purchase a replacement home before April 30, 2010. You must have lived in the same principal residence for a five-consecutive-year period during the eight-year period that ends on the purchase date of the replacement home."
In addition:
* You must buy, or enter into a binding contract to buy, a principal residence after Nov. 6, 2009, and before May 1, 2010, and close on it before July 1, 2010.
* The credit phases out for those with an MAGI between $125,000 and $145,000 ($225,000 and $245,000 for joint filers).
* 2009 purchases must be claimed on a 2009 return; 2010 purchases can be claimed on a 2009 or 2010 return.
All homeowners can claim tax credits for green improvements. The Residential Energy Property Credit is worth 30 percent, up to $1,500, for improvements such as adding insulation or installing energy-efficient windows, doors, or heating and air conditioning systems. Bigger improvements involving alternative energy equipment, like solar hot water heaters, geothermal heat pumps and wind turbines can be claimed under the Residential Energy Efficiency Property Credit. This credit is equal to 30 percent of the cost of the qualified property, with no limit on the maximum amount of the credit available.
New tax laws also include breaks for children, college expenses, new vehicles, unemployment and several other areas. Information about all 2009 tax law changes can be found at www.IRS.gov.
"You can see exactly how the changes will affect your 2009 taxes with TaxACT Free Federal Edition," Dolmage adds." With TaxACT, all taxpayers can prepare, print and e-file their IRS return for free. Go to www.TaxACT.com to get started."
Courtesy of ARAcontent
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Understanding the qualifications for home-related credits can be confusing and intimidating. Jessi Dolmage, spokeswoman for 2nd Story Software, the makers of TaxACT, breaks them down.
"If you've never owned or haven't owned a principal residence during the three years prior to the purchase date, you may qualify for the First-Time Homebuyer Credit. The purchase date must fall after April 8, 2009 and before May 1, 2010, with closing to take place before July 1, 2010. It's equal to 10 percent of the purchase price, up to a maximum of $8,000. You only have to repay the money if the home ceases to be your primary residence or is sold within three years of purchase," says Dolmage.
Property cannot be acquired from a relative, and married taxpayers must both qualify as first-time homebuyers if filing jointly. The credit can be claimed on a 2009 return or an amended 2008 return.
The Worker, Homeownership and Business Assistance Act of 2009 extended the credit's closing date from Nov. 30, 2009, to April 30, 2010, and added rules for homes purchased after Nov. 6, 2009, including:
* You must be at least 18 on the purchase date (only one spouse must be 18) and cannot be claimed as a dependent.
* Purchase price cannot exceed $800,000.
* If the sale doesn't close by April 30, 2010, you may still qualify if there's a binding contract to purchase by that date. The sale must close before July 1, 2010, and the credit cannot be claimed before the closing date.
Purchase date and modified adjusted gross income (MAGI) determine credit phase out. If the purchase date was before Nov. 7, 2009, full credit is available to those with an MAGI up to $75,000 ($150,000 for joint filers). If you have an MAGI between $75,000 and $95,000 ($150,000 and $170,000 for joint filers), you're eligible for reduced credit. Higher incomes do not qualify.
If the purchase date is after Nov. 6, 2009, full credit is available to those with an MAGI of up to $125,000 ($225,000 for joint filers). If your MAGI falls between $125,000 and $145,000 ($225,000 and $245,000 for joint filers), you could receive a reduced credit. Higher incomes don't qualify.
"Current homeowners looking for a different or new home may also qualify for the First-Time Homebuyer Credit," Dolmage says. "The Worker, Homeownership and Business Assistance Act modified the credit to allow for up to $6,500 if you purchase a replacement home before April 30, 2010. You must have lived in the same principal residence for a five-consecutive-year period during the eight-year period that ends on the purchase date of the replacement home."
In addition:
* You must buy, or enter into a binding contract to buy, a principal residence after Nov. 6, 2009, and before May 1, 2010, and close on it before July 1, 2010.
* The credit phases out for those with an MAGI between $125,000 and $145,000 ($225,000 and $245,000 for joint filers).
* 2009 purchases must be claimed on a 2009 return; 2010 purchases can be claimed on a 2009 or 2010 return.
All homeowners can claim tax credits for green improvements. The Residential Energy Property Credit is worth 30 percent, up to $1,500, for improvements such as adding insulation or installing energy-efficient windows, doors, or heating and air conditioning systems. Bigger improvements involving alternative energy equipment, like solar hot water heaters, geothermal heat pumps and wind turbines can be claimed under the Residential Energy Efficiency Property Credit. This credit is equal to 30 percent of the cost of the qualified property, with no limit on the maximum amount of the credit available.
New tax laws also include breaks for children, college expenses, new vehicles, unemployment and several other areas. Information about all 2009 tax law changes can be found at www.IRS.gov.
"You can see exactly how the changes will affect your 2009 taxes with TaxACT Free Federal Edition," Dolmage adds." With TaxACT, all taxpayers can prepare, print and e-file their IRS return for free. Go to www.TaxACT.com to get started."
Courtesy of ARAcontent
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