First Time Home Buyers, Good News on $8000 Tax Credit
According to Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration is going to permit its lenders to allow home buyers to use the...
View ArticleNot So Good News On $8000 Tax Credit
A couple weeks ago, the NAR made an announcement that the $8000 tax credit could be used as the down payment for FHA loans. Some opined that lenders would provide a “bridge loan” for the down payment....
View ArticleNew HUD Guidelines Lift Ban on “Right of First Refusal”
The U.S. Department of Housing and Urban Development (HUD) issued a release which outlines upcoming changes designed to streamline the approval process for FHA financing for condominium projects. Most...
View ArticleFirst Time Homebuyer Tax Credit Applies to Duplexes and Two Flats!
Did you know that? We didn’t. After searching a multitude of sites including the official FHA, IRS and first time home buyer tax credit sites and making several calls we still didnt have an answer....
View ArticleHome Buyer Tax Credit News!
While the passing of this credit is still to come,according to the Wall Street Journal, the Senate reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers....
View ArticleNew FHA Condo Approval Rules Delayed Yet Again
First it was going to be October 1, then November 2. That’s when new FHA condo approval rules were going to be implemented. Now it’s December 7. I know it’s shocking but the government just can’t seem...
View ArticleHome Buyer Tax Credit Extended And Expanded
President Obama signed a revised home buyer tax credit into law today. Before I get too far into this, let me clarify that we are in the business of helping people buy and sell homes and this tax...
View ArticleWill Short Sales Become Short?
Seriously though, the government has again ramped up their efforts to help the millions of Americans who are upside down in their mortgage and need to sell for reasons of financial hardship. Yet...
View ArticleHAFA: Great For Banks – What About Consumers?
On June first of this year Fannie Mae and Freddie Mac released guidelines that propose to govern the short sale process flow for loans that are owned by either of these two institutions. The recent...
View ArticleUsing FHA 203k Loans To Rehab Your Short Sale or Foreclosure
There are a few common ways that I have seen an FHA 203k loan used. Predominantly the clients I’ve worked with use this type of loan to purchase a property that either needs some general rehabbing...
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