“During these difficult economic times, it’s especially important for young families to take advantage of state and federal programs that help make homeownership more affordable and the American Dream more attainable. I’ve included information on some of the most popular programs available. Please take a look and share this information with your family and friends.”

For first-time homebuyers, now is the time to take advantage of this incredible investment. Not only are home prices at their lowest in recent history, but a federal tax credit up to $8,000 is available for those closing on their first home before Dec. 1, 2009.

New York State’s Mortgage Credit Certificate Program is an exciting new program that can save first-time homebuyers tens of thousands of dollars over the life of their loan. Under the program, 20 percent of your annual mortgage interest can be converted into a direct tax credit and deducted dollar for dollar from your federal income tax liability.

Make your home “green” with the Home Performance with ENERGY STAR Program. The program offers comprehensive home assessments to households through accredited independent home-improvement contractors. After assessing your home, contractors will make recommendations for energy improvements and provide a cost estimate for the upgrades. Services are available for existing homes as well as new construction.

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