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foreclosure: How Seasonal Factors Change Homeowner Vacancy Rates - 03/25/08 08:41 AM

Each quarter, the Census Bureau releases the Homeowner Vacancy Rate, a housing statistic the measures the percentage of homes for sale that are vacant. 
A home listed for sale may be vacant for several reasons including:
The home has been foreclosed and the owner has moved out The home seller moved into a new home and not sold his former home The home was a rental property and is being sold without a tenantIn Q4 2007, the Homeowner Vacancy Rate matched its all-time high of 2.8 percent.
The statistic can be misleading, however, because Homeowner Vacancy Rates appear to be seasonal and the … (4 comments)

foreclosure: How Congress Is Providing Tax Relief To Foreclosed Homeowners - 12/21/07 09:37 AM
After Thursday's passage of the Mortgage Forgiveness Debt Relief Act of 2007, foreclosed homeowners have one less worry: taxes.
When a homeowner defaults on a home loan, a mortgage lender will sometimes "forgive" the debt owed. 
One example is when a foreclosed home sells for less money than is owed on it.  The mortgage lender will sometimes accept this lesser amount, while considering the mortgage to be "paid in full".
This is often called a "short sale" because the lender is "short" of the full amount owed.
Prior to Thursday, the IRS treated the forgiven mortgage debt as taxable … (1 comments)

 
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