by Rodney Forbes on May 22, 2009
The following excerpt from an article in the Press-Enterprise is welcome news for people who have been trying to facilitate short sale transactions. Whether it’s the buy, seller or Realtors involved, short sales have a bad reputation when it comes to getting the sale complete. I guess the banks are finally stating to realize [...]
by Rodney Forbes on May 15, 2009
In a story that continues to go back and forth, it seems first time home buyers will be able to use the $8,000 federal tax credit for up front costs including down payment. Until now the tax credit could only be claimed when filing taxes. The tax credit has been partially responsible for a rise [...]
by Rodney Forbes on May 8, 2009
The popular First Time Home Buyer Tax Credit of 2009 has a slightly interesting twist that most people don’t know about. Even though the credit is for homes purchased by December 1, 2009, the tax credit can be claimed on your 2008 tax return! This is a great incentive for those still sitting on the [...]
by Rodney Forbes on May 2, 2009
James L Butkiewicz At the dawn of the 20th century, fewer than half of all households in the United States owned their own home. Fueled by rapid income growth during the 1920s, home ownership increased to 47.8% in 1930 from 46.5% in 1900 but then declined to 43.6% in 1940. An obstacle to homeownership at [...]
by Rodney Forbes on April 30, 2009
After deteriorating relentlessly for nearly three years, the much-watched S&P/Case-Shiller Index showed a brief glimmer that plummeting home prices are at least slowing their fall. Prices are still plunging: Home prices in 20 major cities across the country have fallen 18.6% between February of this year and last, according to the index released Tuesday. That [...]
by Rodney Forbes on April 30, 2009
The Federal Reserve on Wednesday said it see signs the recession may be easing, but warned that the economy is likely to remain weak. Against that backdrop, Fed Chairman Ben Bernanke and his colleagues left a key interest rate at a record low of between zero and 0.25 percent, and decided against taking any new [...]
by Rodney Forbes on April 24, 2009
The recent law enacted by the federal government designed to help struggling homeowners stay in their homes by modifying the interest rate and/or term of the loan has spawned all sorts of bogus companies preying on unsuspecting homeowners. Many homeowners who are behind on payments are now being contacted by certain “loan modification” companies who [...]
by Rodney Forbes on April 11, 2009
The following excerpt is courtesy of Inman News Wells Fargo & Co. reported “exceptionally strong mortgage banking results” Thursday, saying it originated more more than 450,000 loans totalling upward of $100 billion during the first quarter. The strength in mortgage lending helped Wells Fargo boost projected net income for the quarter to a record $3 [...]
by Rodney Forbes on April 5, 2009
The government is continuing to push the recovery through real estate. The impact of low interest rates, first time home buyer tax credits and affordable prices, more people are making the move to buy. Any recovery in the economy will be started by a positive move in the real estate markets. Rates on prime mortgages [...]
