Friday, July 24, 2009

Hungry All Year Long Food Drive Results


Hungry All Year Long Food Drive is Huge Success!
The Hungry All Year Long program began June 1st and ended shortly after the 4th of July holiday weekend with great success. The food drive, which began in 2007, had over 100 donation locations and collected 13,350 pounds of food. This year exceeded the group’s expectations with over 350 donation spots from Madras to La Pine, from Sisters to Prineville and everything in between.
The program’s creator and founder Laura George along with the help of her 2 co-chairs, Pat Leahy and Danielle Snow want to acknowledge the exceptional work and dedication of the 12 Team Captains and over 30 Volunteer Coordinators throughout Central Oregon who made the program such a great success.
The goal for 2009 was to collect 20,000 pounds of food – instead 47,102 lbs of food was collected, which was more than double the goal! NeighborImpact and the team at Hungry All Year Long would like to acknowledge the following people for the special role they played in making this food drive such a success – O’Keeffe’s Company for supplying the boxes and Wells Fargo for making a $5000.00 donation. Their support is a testimony to the Central Oregon community and the fight against hunger.
Just because the food drive is over does not mean that the need no longer exists. Please continue to give to your local food pantry or log onto http://www.neighborimpact.org/ to make a monetary donation. The face of hunger has changed in Central Oregon and we can each be part of the solution by continuing to donate. Thank you all!

Tuesday, July 21, 2009

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Thursday, July 16, 2009

IRS Update First Time Homebuyers

IRS Updates

First Time Homebuyer Credit: Reminders & News From HUD
The Recovery Act extends the credit for purchases closing before December 1, 2009. For purchases in 2009 the credit amount increases to $8,000 and the credit does not have to be repaid provided the taxpayer resides in the home for three years. Full article here: http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Also see First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009. The following question has come up frequently:

Q. I am in the process of buying a home. I expect to close the deal before December 1, 2009. Can I claim the first-time homebuyer credit now? That would allow me to use the refund for a down payment.

A. No. You may not claim the credit in anticipation of a purchase that has yet to happen. Until you have finalized the purchase of your home, which for most purchasers occurs at the time of the closing, you do not qualify for the credit. IRS news release 2009-27, First-Time Homebuyers Have Several Options to Maximize New Tax Credit, contains details for filing options if the home is purchased after April 15, 2009.

NOTE: HUD recently announced details on new FHA rules allowing state Housing Finance Agencies and certain non-profits to 'monetize’ up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate.
See the HUD news release here: http://portal.hud.gov/portal/page?_pageid=153,8026931&_dad=portal&_schema=PORTAL
To read the FHA's new mortgagee letter, visit HUD's website.