To sum it up, Sellers who qualify for the HAFA (Home Affordable Foreclosure Alternatives) Short Sale program will now receive $10k instead of the $3k on any qualified Short Sale that closes on or after February 1st, 2015.
When it comes to real estate loans, you'll find that there are many options. Figuring out which loan or loans are best for your new property purchase can be confusing, but we can help. Here are some types of loans you
For release: December 4, 2013 IRS and California Franchise Tax Board declare California distressed home sellers not liable for federal or state income tax on short sales LOS ANGELES (Dec. 4) – The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) announced today it received a letter from the California Franchise Tax Board (FTB), obtained by
As of September, more than 1.2 million homeowners have received a permanent modification through the Home Affordable Modification Program (HAMP), according to Treasury. Those granted permanent relief through HAMP are saving approximately $547 on their mortgage payments each month—almost a 40 percent savings from their previous payment on average. Government officials
You remember the housing market meltdown a few years back, along with the ensuing taxpayer-funded bailout of large lending institutions. Well, in an effort to regulate the lending industry and protect the consumer/taxpayer, Congress established the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). And many
If you're financially distressed and can no longer afford to keep your home and are pursuing a short sale or deed in lieu of foreclosure, you may be eligible for financial help with relocation to alternative housing. The funds come from the Transition Assitance
As of November 1, Fannie Mae is no longer purchasing loans without minimum down payments of at least 5 percent. Industry experts with the Urban Institute’s Housing Finance Policy Center argue this move is arbitrary and likely to provide little benefit to the GSE or to
LOSS MITIGATION NEWS: Number of U.S. Mortgages Going Unpaid = 4,594,000 Lender Processing Services provided the media with a “first look” at the company’s mortgage performance statistics for the month of September. The industry’s foreclosure inventory continued its downward trend, and while
Bank of America's COOP program may have expired, but there's good news for Agents and Homeowners! Through the HAFA program, Homeowners are eligible for $3,000-$30,000 in relocation assistance. Don't miss out another chance to get up to $30,000 for your Clients who need it.
Effective October 1, 2013, HUD has announced the following changes to their Federal Housing Administration (FHA) short sale requirements. To be eligible, one must successfully complete a short sale under the FHA short sale program. The borrowers must meet the following requirements: 1) They cannot