Homebuyer Tax Credits Coming To An End
There are no signs of the First Time Homebuyer and Repeat Homebuyer Tax Credits being extended past April 30th. In order to qualify for what is probably your last chance at this tax credit, you must be under contract by April 30th and close by June 30th. The tax credit limits are up to $8000 for First Time Homebuyers who have not owned a home in the past 3 yrs. and up to $6500 for Repeat Homebuyers who have lived in their home for at least 5 consecutive years out of the past 8 years....more
They Call It HAFA
New Home Affordable Foreclosure Alternatives Program
Many of you have heard of all the horror stories about Short Sales and how the process can take 3 to 4 months or even up to a year only to find out that after all that waiting, either the home ends up getting foreclosed on or another buyer is selected instead of you. The Treasury Dept. has now streamlined the Short Sale process and even added nice incentives for homeowners to sell through the Short Sale process rather than let it go into Foreclosure....more
Did you know ???
That more than half of the U.S. borrowers who received a loan modification will repeat their default within 9 months of the modification?