Now the homebuyer tax credit is a true credit. That means it reduces your tax bill dollar-for-dollar and in this case, could get you a refund if your IRS bill is zero. The credit amount was increased to $8,000. It’s not limited to strictly first-time buyers. Homeowners who’ve lived in their residences for a while […]
Homeowners with “underwater” mortgages are more prone to defaults and foreclosures. They typically do not qualify for refinancing and are unable to sell their homes because they would need to cough up cash at closing time to pay off their mortgage. The video explains more. Click to view. Mortgages Underwater Here is the article in […]
New Home Loan Modification Rules Coming * All servicers will be required to get financial documentation first. * Only 13 percent of trial modifications have become permanent. * Servicers that got accurate financial information had higher conversion rate. If you want to get a modification to prevent foreclosure, soon you will have to supply […]
FHA and Fannie – Pushing Foreclosure Sales Starting today home “Flippers” are now welcome at the FHA. That’s right, with a glut of foreclosures plaguing the nation’s neighborhoods, the FHA is temporarily removing restrictions on investors who buy and sell homes within 90 days. It’s just for one year…
Bargain Hunters Listen Up – A Jump in Foreclosures in 2010 Mean Opportunities. As foreclosures increase so will the available housing and the bargains for those home buyers.
Some of you have realized his by talking with your bank or heard others around you tell you their horror stories. The Foreclosure Relief Programs either set up by the government or voluntarily by banks has had little affect to help those in need. This article highlights and shares some of the frustration homeowners are […]