Federal Association

According to the new Stimulus Package that President Obama put forth in order to help struggling homeowners with their mortgages, some but not all homeowners will receive the assistance they need. However, there are other measures to finding financial relief through other benefits from the Federal government.

These include:

* Social Security, Retirement, or Disability.

* Veterans Affairs (VA) Pension, Disability, or Survivor's benefits.

* Tier 1 Railroad Retirement benefits.

What you need to know in order to qualify for the Stimulus Package

The best approach in learning about the benefits of the Stimulus Plan is spend some time researching all the options, getting familiar with the terms and lists of lenders, and who can be of assistance to you. Your eligibility is based on a number of factors, including:

* If you have already received a Stimulus payment in 2008, you do not qualify for the same one in 2009.

* You did not qualify for the recovery rebate credit for your federal tax return for 2008.

* You are a low-wage earner, making between $300-$600 singly or $600-$1,200 for a married couple.

* You earn at least $3,000, including Social Security, VA benefits, Railroad Retirement, and earned wages. However, this does not include any Supplemental Security Income (SSI), as it is not considered part of the required income for a Stimulus payment.

* All household members listed on your tax returns must have legal social security numbers.

* You are eligible for your own federal tax return only.

* Every child who qualifies as a dependent enables you to $300.

About the Author:

For tips and facts about how you can benefit from Obama's Home Stimulus Plan - or to find out if you qualify, visit our no nonsense home stimulus guide: http://firsttimehomebuyerstimulus.net

Author: Bryan Hendersen