All Posts Tagged With: "credit"
A Basic Guide To Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th.
But for those with real estate the load is made lighter by tax rules [...]
Mortgages: Can You Stop Line of Credit Freezes?
The Federal Reserve has published a new guide to home equity line of credit financing — and what you can do if your lender reduces or freezes your HELOC.
To be polite, not a damn thing.
The Board’s 5 Tips for Dealing with a Home Equity Line Freeze or Reduction first tells us the following:
Late Notice
Your [...]
Luxury Homes Wilt On The Market
Luxury homes — those mansions on the hill — are not selling like hotcakes. In fact, such homes are being re-priced with newer and lower values
The Institute for Luxury Home Marketing says that of 40,252 luxury properties available during the past week, the typical price was $1,156,708 and the cost per square foot averaged $324.
Just as [...]
The Untold Story Behind Fannie Mae & Freddie Mac
The government is out with new foreclosure prevention numbers from Fannie Mae and Freddie Mac.
According to the Federal Housing Finance Agency (FHFA), the headline is that “FANNIE MAE AND FREDDIE MAC LOAN MODIFICATIONS UP BY MORE THAN 50 PERCENT IN FIRST QUARTER, MONTHLY PAYMENTS REDUCED FOR HOMEOWNERS.”
We then learn that “Fannie Mae and Freddie [...]
Making The First-Time Buyer Tax Credit Better — Or Worse?
There is now a new effort on Capitol Hill to increase the first-time buyer credit from $8,000 to $15,000. Under S1230, first-time buyers would be able to get a credit equal to as much as 10 percent of the purchase price, up to $15,000.
Not only that, but the time the home would have to be [...]
Delinquencies Up For The Ninth Quarter In A Row
For the ninth quarter in a row, TransUnion.com is reporting that mortgage delinquencies continue to rise. Using data taken from 27 million anonymous, randomly sampled, individual credit reports, the company says 5.22 percent of all mortgage borrowers in the first quarter were at least 60 days late. A year ago the figure was 3.22 percent.
States [...]
FHA — Yes (Sort Of) To No Money Down
HUD has come out with new regulations which will allow borrowers to get FHA financing with no money down — but only in very limited circumstances.
On May 11th HUD said first-time buyers could use their $8,000 tax credit to fund their FHA downpayment. In effect, borrowers would get a short-term bridge loan that would [...]
Bankruptcy Fables Your Lenders Love
Should bankruptcy judges have the right to modify home mortgages? Would that be fair? Or unfair?
It’s a political question, of course, and when the time came for the Senate to vote in April the count was 51-to-45 against a measure would give judges the right to change home loan terms and rates. For the moment [...]
4May2009 | Peter G. Miller | 0 comments | Continued
500,000+ Grab First-Time Homebuyer Credit
More than 500,000 buyers have used the first-time homebuyer credit to purchase a home. Amazingly enough, more than 38,000 buyers have already claimed the write-off but do not qualify. Why? In most cases because they owned a home during the past three years.
Figures from the Treasury Inspector General for Tax Administration show that a lot [...]
2009 Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th.
But for those with real estate the load is made lighter by tax rules [...]
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