Reports are coming in from multiple sources regarding the Real Estate market. Largely the reports cite increased sales in most areas of the country. The Federal Tax Credit and low interest rates have contributed to the surge in sales. Home Sales Rise on Tax Credit, Favorable Market St. Louis home sales soar 22 percent in […]
Avoiding Loan Modification Scams
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“Median Price” May be Misunderstood
Since the beginning of the real estate “bubble” headlines much has been made of the “median Price”.
Mortgage: Pay or Walk Away
It was reported last week that the HAMP (Home Affordable Modification program) participants is on the rise and growing. We need to improve and expand this program.
Current Mortgage Rates and Prediction
Mortgage rates ease slightly and are still hovering just above the low of December. Many are forecasting a rise in rates on the horizon. Inman News offers this report. The Mortgage Bankers Association Forecast.
Don’t be a “Panic Buyer”
The deadline of April 30, 2010 to take advantage of the Federal Tax Credit is fast approaching. April 30th being the deadline to have a property under contract, AND then must successfully close the property by June 30th. There are at least 3 problems with waiting until the end of April to enter into a […]
Real Estate Settlement Statement Compares Actual Costs to Good Faith Estimate, Limits Changes
For the first time ever, HUD will require mortgage lenders and brokers to provide borrowers with an easy-to-read standard Good Faith Estimate (GFE) that will clearly answer the key questions they have when applying for a mortgage
Tax Credit Officially Extended and Expanded
After much fanfare the home buyer and home owner tax credit is in place. This new law extends the first time home buyer tax credit for property under contract by April 30, 2010 and closing by June 30, 2010. Under the same bill unemployment benefits are extended by 14 weeks and there are provisions to […]
Last Days of the $8,000 Federal Tax Credit
Could it be the end of the $8,000 Federal tax credit for first time home-buyers? The one thing we know with certainty is the program is currently set to expire on November 30th. Without action from Washington, time is of the essence in order to successfully complete a purchase transaction before the deadline. Given the […]
Save the Historic Tax Credit
At this very moment, the Historic Tax Credit (HTC) is threatened by the Senate’s Economic Development committee substitute for SB45, which will cap the Historic Tax Credit at $150 million. Such a cap will undoubtedly substantially reduce the effectiveness of the program, which relies on freely available credits in order to function. The Historic Tax […]