Fannie Mae makes it easier to buy foreclosures

Thu, 02/11/2010 - 00:40 — admin

There's some good news on the foreclosure front!

Fannie Mae has made it easier to purchase foreclosures. They will now cover the closing costs on purchases of its foreclosures (REO's), in hopes of reducing its over-supply of repossessed foreclosed properties.

A great time to buy a home

Tue, 12/15/2009 - 12:10 — admin

There are some good news for home buyers: 30-year mortgage rates have dropped back down to their record low mark. This, combined with the generous government tax credits in place for virtually all Americans to buy a home, has made it a great time to buy a home.

Foreclosures also remain high, meaning that there's significant pressure on prices -- it remains a buyer's market in most areas. Those factors combined sound like a good recipe that should result in a great time to buy a home.

Bank mistakenly sells couple's home

Fri, 11/13/2009 - 13:16 — admin

 

A couple in Phoenix got some really bad -and really odd- news when they learned that Chase had foreclosed and sold their home.

Jeff and Yanthy Zerner were not behind on their payments. They were approved for a mortgage modification just days before they received a notice to vacate the property. When Jeff contacted the number he was given, he learned that the house had been in foreclosure, and it had been bought.

Good News: Federal Tax Credit Extension

Wed, 11/11/2009 - 14:54 — admin

Great news! The $8,000 first-time home buyer tax credit has been extended.

The tax credit, originally set up as a no-interest loan back in 2008, was converted this year as a full tax credit as part of the stimulus package for "first-time" buyers only.  The new law extends the tax credit to all sales up to April 30, 2010, and extends the credit to existing home owners as well.

According to the Associated Press, the House voted 403-12 in favor of the law granting the extension.

Ten Tips for Landlords

Wed, 11/11/2009 - 14:23 — admin

(Reblogged from NOLO)