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5.35% Interest Rate 1% Origination + 0% Discount *4% Assistance to be applied towards closing costs and/or pre-paids *Property must be in the Parish of Jefferson Income Limits: Family of 2 or less: $71,760 Family of 3 or more: $83,720 Purchase Price Limits: ...  [Read More]
Posted:byLyn Trask ABR
Despite a slow market and a slight decrease in the resale value of most remodeling projects, REALTORS ® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report ...  [Read More]
Posted:byLyn Trask ABR
The Home Affordable Modification Program (HAMP) provides borrowers who have experienced a financial setback an opportunity to possibly achieve more affordable mortgage payments by ensuring the payments are no more than 31 percent of their monthly gross ...  [Read More]
Posted:byLyn Trask ABR
Even before the government put pressure on them to embrace short sales, more banks were starting to take their lumps, do the short-sale deals and move on. Three years into the housing meltdown, short sales have tripled to 40,000 in the first six months ...  [Read More]
Posted:byLyn Trask ABR
The Treasury Department announced Monday steps it is taking to encourage lenders to complete more loan modifications, but critics say the new initiative doesn’t address the problems of jobless borrowers or those who are significantly underwater. ...  [Read More]
Posted:byLyn Trask ABR
The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly. To qualify under these new guidelines: The property must be the home owner’s principal residence. The home owner must be delinquent on ...  [Read More]
Posted:byLyn Trask ABR
Home sales surged for the second month in a row in October, climbing to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit . Home sales nationwide are now up nearly 36 percent from their bottom in January, ...  [Read More]
Posted:byLyn Trask ABR
House shopping usually slows down in the winter, as people put their home searches on hold to trim the tree, buy presents to put under it and avoid the chilly weather. This winter, however, might be different, thanks to the extended—and expanded—first-time ...  [Read More]
Posted:byLyn Trask ABR
Foreclosures were filed on 332,292 U.S. properties in October, a decrease of 3 percent from September, but still up nearly 19 percent from October 2008, according to foreclosure sales site RealtyTrac. October marks the third-straight month of declines ...  [Read More]
Posted:byLyn Trask ABR
Home sales will increase 15 percent to about 5.7 million units and REALTOR ® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS ® today in a residential economic update at the 2009 NAR Conference ...  [Read More]
Posted:byLyn Trask ABR
Bringing the Dream of Homeownership Within Reach As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: Extends the First-Time Home Buyer Tax Credit of up ...  [Read More]
Posted:byLyn Trask ABR
The rapidly increasing number of foreclosures is creating a shortage of attorneys knowledgeable about this legal specialty. About 86 percent of foreclosure victims didn't have legal counsel last year, according to the Brennan Center for Justice at ...  [Read More]
Posted:byLyn Trask ABR
The market for new homes is so weak that many builders aren’t building much of anything unless they have a signed contract. Inventories are at 7.5 months, their lowest since 1992, according to the National Association of Home Builders. Getting the ...  [Read More]
Posted:byLyn Trask ABR
Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed — not closed — by April 30. Purchasers would ...  [Read More]
Posted:byLyn Trask ABR
The U.S. Treasury announced that 500,000 trial loan modifications have been completed under the Making Home Affordable program. Secretary Timothy Geithner said the number of trial workouts is rising faster than the number of homeowners nearing foreclosure. ...  [Read More]
Posted:byLyn Trask ABR
Extending the First-Time Home Buyer Tax Credit, due to expire at the end of November, is high on the Democratic Congressional to-do list, legislative aides said. After Wednesday’s meeting with President Obama and House Speaker Nancy Pelosi (D-Calif.), ...  [Read More]
Posted:byLyn Trask ABR
Young people just starting to invest and buying their first homes are potentially the winners in this recession. First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according ...  [Read More]
Posted:byLyn Trask ABR
American Forces Press Service WASHINGTON, Sept. 30, 2009 - Defense Department officials today announced the details for distributing $555 million available under the Homeowners Assistance Program. The program is part of the American Recovery and Reinvestment ...  [Read More]
Posted:byLyn Trask ABR
Fall maintenance is important because it helps make homes more energy efficient during the winter months, and will safeguard homes against potential seasonal 'disasters' such as leaking roofs or home fires caused by neglected chimneys. Here are ...  [Read More]
Posted:byLyn Trask ABR
Buyers who are under contract and hoping to close before Nov. 30 when the first-time home buyer credit expires should refrain from buying furniture and other things on credit. Lenders are running credit checks prior to closing day and any increase in credit ...  [Read More]
Posted:byLyn Trask ABR
The Obama administration has opened a dialogue with major lenders, economists, and government officials over the possibility of extending a financial lifeline to home owners who no longer can afford their mortgages because of job losses. Possible strategies ...  [Read More]
Posted:byLyn Trask ABR
Washington is being forced to take a hard look at the expiring $8,000 first-time homebuyer tax credit. Nearly a dozen bills have been proposed to extend the credit past the Nov. 30 deadline, but the top decision makers are just beginning to weigh in. On ...  [Read More]
Posted:byLyn Trask ABR
A Florida real estate consulting company specializing in mortgage forensic research, warns homeowners near or in foreclosure that legal violations are increasingly common in complex mortgages and urges them to examine their paperwork carefully. Consumer ...  [Read More]
Posted:byLyn Trask ABR
The National Association of REALTORS® is calling upon its 1.2 million members to urge Congress to extend the successful homebuyer tax credit into next year. Since its inception earlier this year, the $8,000 first-time homebuyer tax credit has brought ...  [Read More]
Posted:byLyn Trask ABR
A year after the financial collapse of 2008, the housing market is very different than it was before the foreclosure crisis. Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today: Old-fashioned ...  [Read More]
Posted:byLyn Trask ABR

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