VHFA and its counterparts across the nation are increasing home buying activity through “very solid” tax-free municipal debt, according to Bloomberg news.
Finance
Down payment requirements often ignored in housing affordability discussions
A recent study by the mortgage risk analysis company Andrew Davidson & Company confirms what many borrowers have been experiencing first-hand during the past few years: lower mortgage interest rates do not make buying a home more affordable when significantly higher down payments are required at closing.&n
Patrick DiMambro hired as staff accountant
Executive Director Sarah Carpenter announced Tuesday that Patrick DiMambro of Burlington has joined VHFA as Staff Accountant.
Patrick is a recent graduate of Champlain College with a Bachelor’s of Science degree in accounting. Besides being one of Champlain’s top accounting graduates, Patrick also served as Director of Finance for the Champlain student government association.
Advanced housing tax credit course on June 7, 2012
This full day training, sponsored by Vermont Housing Managers Association, is intended for senior management staff, developers, corporate finance officers, and others involved in decision-making with regard to how credit deals are structured.
This training covers complex issues such as eligible and qualified basis, applicable fraction, credit calculation (including first year calculation), placed in service issues, rehab projects, tax exempt bonds, projects with HOME funds, Next Available Unit Rule, employee units, mixed income properties, vacant unit rule, and dealing effectively with State Agencies. This course also includes a full discussion of major IRS positions.
How negative equity affects unemployment rates
A study looked at how borrowers who owe more than their home is worth (underwater) might be limited in their ability to move because of their housing situation. This can perpetuate a high unemployment rate if homeowners can’t move for economic reasons. The report’s authors found that “house lock” definitely decreases a household’s mobility options, but in aggregate has had a negligible effect on the nation’s unemployment rate.