by kramoltz@hotmail.com | Feb 28, 2015 | Foreclosures + Short Sales
In Are Lenders Holding Back REOs, I wrote about the inability of lenders that had completed foreclosures to timely put those homes back on the market. Under ordinary circumstances, a bank will put a “real estate owned” (or REO) home back on the market as soon as...
by kramoltz@hotmail.com | Feb 28, 2015 | Taxes
The $8,000 tax credit scheduled to expire November 30, 2009 has been extended. Now a purchase agreement can be entered into up to May 1, 2010, as long as the transaction closes no later than July 1, 2010. It continues to cover first time home buyers, but has also been...
by kramoltz@hotmail.com | Feb 24, 2015 | Mortgages + Lending
Good news on the lender front. First, HUD has reinstated the higher limits on FHA loans that expired 1/1/09. The limit for this government guaranteed loan was $346,250 last year for a single family home. But on 12/31/08, that amount lowered to $271,150.00. The impact...
by kramoltz@hotmail.com | Feb 24, 2015 | Foreclosures + Short Sales
Long largely immune from the fluctuations in the greater Phoenix market, Scottsdale has not been able to avoid the current adverse conditions. At one time the opinion that homeowners in the “Beverly Hills” of Arizona would lose property by foreclosure in significant...