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pittsburgh real estate: Details on the Homebuyer Tax Credit - 08/28/08 11:18 AM
In a previous blog, I mentioned the Homebuyer Tax Credit for first-time buyers which is included in the housing bill recently passed by Congress - the Housing and Economic Recovery Act of 2008.
To recap - the bill provides a credit of up to 10% or $7500 (whichever is less) for first-time home buyers. The "credit" is actually a loan which is paid back over 15 years in equal payments. If you sell your home before the credit is paid back in full, the balance is due at time of sale.
The credit applies to the purchase of a home made … (2 comments)

pittsburgh real estate: Buying Foreclosures in the Pittsburgh Area - Update - 07/11/08 11:54 AM

As a follow-up to my series of articles about purchasing foreclosures in the Pittsburgh area, I'd like to add a comment about buyer funding.
Banks and mortgage companies will consider all offers, regardless of the type of buyer funding. However, these companies have their preferences for the type of funding a buyer uses. In short, cash is king - and the fewer contingencies asked for by the buyer, the better.
The least desirable funding for a seller is an FHA loan. The reason is that the FHA requires that an FHA appraiser must inspect the property and make sure that … (0 comments)

 

Kenneth Belferman

Pittsburgh, PA

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Prudential Preferred Realty

Address: 3911 William Penn Highway, Monroeville, PA, 15146

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