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According to the Wall Street Journal, Mr Sambrotto spent six months trying to sell the apartment in trendy Chelsea through online listings and classified advertisements. But the DIY home selling guru eventually decided to turn the sale over to a p rofessional. Read More...
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The 2011 Nevada legislative session yielded three new laws that afford homeowners additional protections. One has to wonder if Tennessee should follow suit. Nevada Senate Bill 414: Prohibits banks from unreasonably delaying a short sale. Also prevents Read More...
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A rumor was afloat yesterday regarding a major bailout in the works from the government for the amount that homeowners are “upside down” on their loan balance, relative to their home value. The rumor gained so much attention that Read More...
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The long anticipated restoration of the Section 502 single-family rural housing program is headed to President Obama's desk for signature into law. NAR has been working on restoring funding since March. Although the legislation increases the guarantee Read More...
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Good news! After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline , the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts Read More...
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Last week, Bankrate.com reported very favorable rates, with the 30-year fixed remaining unchanged from the previous week's record low. The benchmark 30-year fixed-rate mortgage remained 4.88 percent last week, according to the Bankrate.com national Read More...
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“From home buyers to lenders, mortgage fraud has had a resounding impact on the nation’s economy,” Mueller added. “Those who prey on the housing market should know that hundreds of FBI agents on task forces and their law enforcement Read More...
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Affordable TREC Education, Sunday, June 13, 2010 4:31 PM Before Larry Thomas unloaded his Pompano Beach, Fla., home last fall for a fraction of what he paid, he cut a deal that will keep him from worrying about a huge debt hanging over his head. Thomas Read More...
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Three Senators introduced a measure to extend the present home buyer tax credit closing deadline from June 30 to Sept. 30. They are Senate Majority Leader Harry Reid, D-Nev., and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn. This amendment does Read More...
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The national average 30-year fixed-rate mortgage rose 3 basis points this past week, to 4.95 percent with an average total of 0.45 discount and origination points, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth Read More...
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Washington, May 13, 2010 Despite guidelines from the federal government to streamline short sales and improved fraud prevention, home sellers experiencing financial distress continue to be discouraged with the often confusing short sale process. Realtors® Read More...
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Daily Real Estate News June 4, 2010 Interest on 30-year fixed home loans averaged 4.79 percent this week -- up slightly from 4.78 percent a week ago but still near historic lows. The average rate on 15-year fixed loans hit a record low of 4.2 percent, Read More...
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Daily Real Estate News June 3, 2010 Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the NATIONAL ASSOCIATION OF REALTORS®. Read More...
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The average 30-year fixed-rate mortgage slid 4 basis points, to 4.92 percent . A basis point is one-hundredth of a percentage point. The new rate is the lowest in the nearly 25-year history of the weekly Bankrate survey, eclipsing the previous record Read More...
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The FHA is expected this summer to slash the cap on "seller concessions" from 6 percent of the home price to 3 percent . In announcing the policy change, FHA officials said the 6 percent maximum " exposes the FHA to excess risk by creating Read More...
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