Posted August 30th, 2010 by Sheila
The U.S. Treasury Department rolled out the Home Alternative Foreclosure Alternative (HAFA) in April 2010. This program is an add-on to the existing Home Alternative Modification Program (HAMP) that is supposed to guarantee a faster short sale approval and closing while guaranteeing the homeowner that they will not come after them for a deficiency or [...]
Tags: borrowers, buyers, foreclosure, HAFA, HAMP, sellers, short sale
Posted December 11th, 2009 by Sheila
If you are one of the many homeowners struggling to make your mortgage payments and considering trying for a loan modification, don’t get your hopes up. To date, only approximately 31,000 homeowners have actually successfully completed a loan modification. That is only 4% of the actual amount of people who have done the paperwork and [...]
Posted October 29th, 2009 by Sheila
MSNBC reported today that the First-time homebuyer tax credit that is set to expire at the end of November, will be extended through April. All sales contracts will be need to be signed by the end of April and then closed by the end of June. This is great news for the sagging real estate [...]
Posted March 30th, 2009 by Sheila
I have seen a strong influx of first-time homebuyers coming off the fence and helping the housing market and the economy. The $8000 tax credit that became effective as of January 1st this year is apparently working. Not to be mistaken with a tax deduction, this is a true tax credit. The benefit of [...]
Posted March 19th, 2009 by Sheila
How does a buyer who cannot afford a hefty down payment take advantage of the great home deals on the market today? Most of the lower priced homes in the $50,000 to $90,000 price range do not qualify for a straight FHA loan because they need work. So what is a buyer to do? [...]