Starting June 1, 2010 Fannie Mae is going to implement some changes to their underwriting process. Most of them are minor and will not have any impact, but the one that MAY change things is the lenders will be pulling a NEW credit report prior to ordering loan documents and/or closing.

Filed under: Credit, Credit Cards, Current Events, Finance, VRN | No Comments »

Nearly two years later lenders are much savvier about selling bank-owned properties, and their newfound know-how is grounded in the basics of supply and demand, which are both heavily impacted by foreclosures in the 2010 marketplace. Sales of properties in some stage of foreclosure accounted for one-third of all sales in the first three months of the year, according to Rea

Filed under: Commentary, Current Events, Foreclosure, Mortgage, Real Estate Market, Realtor, Short Sale, VRN | No Comments »

It has never been easy to get your foot onto the first rung of the property ladder but in these economic times, it seems harder than ever. Fortunately, these tough times have brought about some more creative ways to get into property. We are talking about rent to buy schemes.

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Is it time to rush out and buy a house before mortgage rates go up? As the Federal Reserve winds down its intervention in the mortgage market, rates on home loans are generally expected to rise at least modestly during the rest of this year from today’s unusually low levels. Some analysts believe mortgage rates [...]

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While sales of low-priced foreclosed homes are sparking bidding wars in some areas and there’s talk of healing in California, a huge storm cloud hovers over the Golden state: the high-end real estate market.

Filed under: Luxury Properties, Real Estate Market | No Comments »

What is a short sale? A short sale is a sales transaction in which the seller’s mortgage lender agrees to accept a payoff of less than the balance due on the loan.

Filed under: Real Estate Market, Selling, Short Sale, VRN | 1 Comment »

IRS issues new guidelines on obtaining home buyer tax credits The Internal Revenue Service (IRS) recently issued new guidelines and clarified documentation that taxpayers must submit to successfully obtain the federal tax credit for home buyers. MAKING SENSE OF THE STORY FOR CONSUMERS The federal tax credit for home buyers was extended and expanded late [...]

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Foreclosures are still impacting the housing market and this will likely continue through 2010. This Updated Field Guide provides foreclosure information and resources for REALTORS® and their clients, including information for those interested in investing in foreclosed properties.

Filed under: Economy, Foreclosure, Real Estate Market, VRN | No Comments »