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foreclosure: Mortgage - Treasury Spread Closes as Homebuyer Incentives Suggest Home Prices May Stabilize - 03/12/09 04:03 PM
February was a significant month for the mortgage and real estate markets, as a massive bailout package was signed into law, and further talk of foreclosure prevention efforts at the federal level reassured mortgage investors of the safety of their investments. An $8000 tax credit for first-time homebuyers sparked hope for increased home sales in 2009, both for starter homes and condominiums, as well as for so called "move-up" homes needed by those current homeowners able to sell into the current market and purchase significantly discounted replacement homes.
Entering March, the Mortgage - Treasury spread reached its lowest point since June, … (1 comments)
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foreclosure: Buying a foreclosed home? Look out for these property pitfalls - 12/08/08 02:50 PM
Today's buzzword in buying a reasonably priced home is "foreclosure". Foreclosed homes sell anywhere from 20%-60% lower than non-foreclosed homes, making their pricing much more attractive, but there are hurdles to overcome, especially when it comes to property condition. Even though the home is foreclosed, it still must meet the requirements of new financing. I've been working with foreclosed homes for more than 40% of my buyers lately, so I wanted to review a few of the problems we've encountered, and how to avoid them.
To lend on a property, each type of mortgage will have its own requirements as to … (1 comments)
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foreclosure: FHA Suspends 90-Day Rule, But Will Flippers Really Benefit? - 06/16/08 10:23 PM
News broke today that FHA will be temporarily waiving a rule that has been impeding bank resale of foreclosed properties.
The so-called "90-day rule" was implemented to stop property-flipping schemes that utilized multiple investors to rapidly increase the value of a home, while stripping that value out through larger and larger mortgages. This scheme hurt many individual homeowners who were often left holding the bag on loans, although in many cases the final purchaser was often complicit in the fraud, receiving a portion of the proceeds as compensation for ruined credit.
A side effect of this rule has been a substantial delay in the ability of … (21 comments)
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foreclosure: Hear me on the radio tomorrow! - 05/30/08 04:40 PM
I'm so excited! I've been asked to be a guest of the Rhode Island Real Estate Insiders tomorrow morning. This weekly live radio program, which airs on AM 790 in Rhode Island and the surrounding area, and webcasts for everyone else, provides insightful information to home buyers, and property investors, and airs weekly from 9:00 AM to 10:00 AM Eastern Time Saturday mornings.
We'll be covering several important topics tomorrow, including:
How to list your home as "Free Gift Money available to purchase this home with no money down" 100% financing programs still available for qualified buyers Reverse Mortgages The Foreclosure Problem … (3 comments)
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Dan Hartman
Providence,
RI
More about me…
Province Mortgage Associates - (401) 263-8655
Address: 10 Davol Sq, Providence, RI, 02903
Office Phone: (401) 490-4400 x 114
Cell Phone: (401) 263-8655
Email Me
Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you!
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